People’s Bank Announces Completion of Merger with Willamette Community Bank
People's Bank of Commerce (OTCBB: PBCO) has successfully completed its merger with Willamette Community Bank, effective March 1, 2021. This strategic move enhances People's Bank's presence in the Willamette Valley, expanding its assets to approximately $742 million and adding nine branch locations across Southern Oregon and Willamette Valley markets. CEO Ken Trautman expressed optimism about serving the new customers while maintaining quality banking services. The acquisition is projected to strengthen the bank's competitive position in the region.
- Expanded market presence in Willamette Valley through merger.
- Combined total assets of approximately $742 million.
- Addition of nine branch locations enhancing service reach.
- None.
People’s Bank of Commerce (OTCBB: PBCO) announced that effective March 1, 2021, it completed the merger with Willamette Community Bank.
Ken Trautman, CEO of People’s Bank of Commerce, stated, “We are fortunate to have the opportunity to partner with Willamette Community Bank, which expands our franchise into the Willamette Valley markets. We are very pleased to welcome Willamette’s customers, shareholders and employees to People’s Bank and look forward to continuing to provide quality services and opportunities to them.”
On a combined pro forma basis, People’s Bank of Commerce would have total assets of approximately
About People’s Bank of Commerce
Founded in 1998, People’s Bank of Commerce is the only locally owned and managed community bank in Southern Oregon. People’s Bank of Commerce is a full service bank headquartered in Medford, Oregon with branches in Medford, Ashland, Central Point, Grants Pass and Klamath Falls. People’s Bank of Commerce’s stock trades on the over-the-counter market under the symbol PBCO. Additional information about the Bank is available in the investor section of the bank’s website at: www.peoplesbank.bank.
About Willamette Community Bank
Founded in 2003, Willamette Community Bank is a full service bank headquartered in Albany, Oregon and serves customers from three offices located in Albany, Lebanon, and Salem.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210301005729/en/
FAQ
What is the significance of the merger between People's Bank of Commerce and Willamette Community Bank?
How will the merger impact People's Bank of Commerce's total assets?
What new locations will People's Bank of Commerce serve after the merger?
When did People's Bank of Commerce complete the merger with Willamette Community Bank?
