Local Oregon Banks Celebrated, Oct. 13

Local Oregon banks, most of which are chartered by the Department of Consumer and Business Services (DCBS), play an integral role in their communities. To celebrate the impact of community banks on their communities and the state’s economy, Gov. Kate Brown proclaimed Oct. 12-16, 2015, as Community Bank Week. “Community banks are vital members of Oregon’s communities,” said DCBS Director Patrick Allen. “These bankers live here, they work here, and they want to see Oregon flourish. They understand the needs of their neighbors and are invested in seeing their local communities succeed.” Oregon’s 21 state chartered community banks held $30.7 billion in total assets as of June 30, 2015, compared with $21.7 billion in total assets a decade ago. They employ about 6,286 individuals. Oregon community banks had loans totaling $21.8 billion, representing 91 percent of their total core deposits. Across the nation, community banks made more than 50 percent of all loans to farms and small businesses, despite the fact that community banks’ share of total banking assets is less than 14 percent. Members of the Independent Community Banks of Oregon (ICBO) and community banks throughout the state are celebrating Community Bank Week in Oregon. Next week, community banks will host consumers, students, small businesses, and local elected officials to showcase the positive impact banks have on the people they serve. To learn more about the Oregon banks recognized during Community Bank Week, go to http://www.oregonbankers.com/CommunityBankWeek.