August 11, 2006 -
If regulators give an anticipated thumbs-up, Oregon City will have a new bank to call its own. Lewis & Clark Bank, which counts several former MBank executives among its founders, could open in November. The lender, which will target small and medium businesses, would become Oregon City's only headquartered bank.
Oregon City in Line for its Own Bank August 11, 2006 Portland Business Journal
If regulators give an anticipated thumbs-up, Oregon City will have a new bank to call its own. Lewis & Clark Bank, which counts several former MBank executives among its founders, could open in November. The lender, which will target small and medium businesses, would become Oregon City's only headquartered bank. "Oregon City is the last large area around Portland that doesn't have a bank headquartered in it," said Larry Baker, who'll serve as the bank's president and CEO. "A community bank centers its focus and energy on the community in which it's located. Having a headquarters there will be beneficial to the businesspeople of Oregon City, as well as the other citizenry." Bank leaders said they'll seek $12 million worth of initial capitalization, primarily from larger investors. Among other tactics, the bank hopes to collect investments through self-directed retirement accounts. Lewis & Clark Bank joins Allen Trust Co., of Portland, as the only two institutions receiving Oregon banking charters this year. There could be more: Richard Renken, supervising examiner of banks and trusts for Oregon's Division of Finance and Corporate Securities, said several parties have recently requested information on starting new banks. "We're seeing the number of de novo and community banks going up each year," said Karen Tyson, a spokeswoman for the Washington, D.C.-based trade group the Independent Community Bankers of America. This year, "the number's going up a little bit, but keep in mind we're also seeing more mergers and consolidating, so it may be that there's a balancing act going on." Oregon's new bank numbers remain on the same pace as last year, when four banks received charters. With Lewis & Clark Bank, the financial landscape will add a unit that, unlike some new lenders, features a team with vast experience in the community banking realm. President and CEO Larry Baker, 62, served as loan department manager and administrator for the MBank's main branch. The branch grew from $50 million in assets to $130 million under his guidance. Jeffrey Sumpter, 35, the new bank's chief lending officer, served in the same role at MBank, while William Reiling, Lewis & Clark's 63-year-old chief credit officer, served as MBank's credit approval officer. Trey Maust, 35, becomes the bank's chief financial officer after stints at MBank and the consulting and accounting firm Deloitte & Touche LLP. Autumn Rudisel, Lewis & Clark's senior vice president and loan manager, served most recently as commercial real estate manager for Bank of the Cascades. Along with small and medium-sized businesses, Lewis & Clark will seek accounts from professional practices, nonprofit organizations, and residential and commercial development companies. To attract them, the bank will offer: Maust believes it's a good time to start a bank, particularly in the south Interstate 205 region. "Portland is and will continue to be an attractive destination for people to move to," he said. "And the area where we chose to locate, which is near Damascus and Happy Valley, is set to grow." Baker said the expected slowdown in real estate spending won't hurt Lewis & Clark because his team includes many credit specialists. Plus when larger banks believe the real estate market has slowed, they'll stop proffering loans to smaller builders and developers. Lewis & Clark Bank could therefore enjoy a wide-open target market, Baker said. Several would-be employees, many of whom are experienced in both larger and community bank transactions, have inquired about potential job openings, according to Baker. The bank chose its name with a nod toward possible future expansion. "It gives us a regional flair without restricting us to a specific geographic area," Maust said. "We chose it with the idea that we could expand to other markets, and we want to be compatible with those." agiegerich@bizjournals.com | 503-219-3419
by Andy Giegerich, Business Journal staff writer
The Commercial Real Estate Visionaries Summit was a resounding success, bringing together a vibrant crowd of about 65 attendees from across Washington, Clackamas, and Multnomah counties. This event was a testament to the power of community and the importance of staying informed in today’s dynamic market.
Read more...Are you ready to shape the future of commercial real estate? Join us for the Commercial Real Estate Visionaries Summit, designed to equip professionals across Washington, Clackamas, and Multnomah counties with the insights and strategies needed to thrive in today’s unpredictable local market. Our distinguished speakers, including Michael Mangan, Bronson Rueda, David Moore, and Eric Fruits will share their expertise and predictions to help you make informed decisions.
Read more...Beginning July 27, 2022, Lewis & Clark Bank customers may use their Debit Cards at any MoneyPass ATM network without incurring a surcharge.
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