FOR IMMEDIATE RELEASE
Lewis & Clark Bank Announces Holding Company Formation
OREGON CITY, OR – Lewis & Clark Bank (OTC Pink: LWCL) announced the formation of Lewis & Clark Bancorp, (the “Company”) a bank holding company.
Following shareholder approval, the holding company reorganization was finalized, and Lewis & Clark Bank became a wholly owned subsidiary of the Company. As a result, effective on July 31, 2020, Lewis & Clark Bank shareholders became 100% shareholders of the Company.
In the holding company reorganization, existing shares of Lewis & Clark Bank common stock will be exchanged into one share of Lewis & Clark Bancorp common stock, the new holding company. Shares of the Company will trade under the ticker symbol “LWCL” on OTC Pink, the same ticker symbol used previously by Lewis & Clark Bank. Lewis & Clark Bank shareholders holding paper stock certificates will receive instructions from their stock transfer agent, Transfer Online, Inc., on how to exchange shares.
Jeffrey Sumpter, President and CEO commented, “We are excited to announce the formation of Lewis & Clark Bancorp. This will allow for increased access to capital markets and will provide the flexibility needed for the continued growth of the Company, as well as opportunities for expansion into new lines of business.”
About Lewis & Clark Bank
Headquartered in Oregon City, Oregon, Lewis & Clark Bank is a state-chartered full-service commercial bank. Partnering with people and businesses throughout Oregon and SW Washington, the Bank believes that being an integral part of the community it serves, helps promote both growth and success
For more information about Lewis & Clark Bank, visit www.lewisandclarkbank.com.
Jeffey Sumpter – President/Chief Executive Officer
Phone: (503) 212-3107
John Lende – Executive Vice President/Chief Financial Officer
Phone: (503) 212-3141
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