West Linn, Oregon (PRWEB) March 04, 2016
Pacific West Bank (the “Bank”)(OTCBB: PWBO) announced today that Federal Deposit Insurance Corporation (“FDIC”) and the Oregon Division of Financial Regulation (“ODFR”) have terminated the consent order issued in March 2010, indicating that the Bank has met all the conditions of the order.
“We’re proud of our success in strengthening the Bank to where it is, and are pleased to receive the formal acknowledgement of that success,” said Steve Gray, President and CEO of the Bank.
“We were still quite young as an institution when the economy and banking sector began to falter,” said Gray, “and being in that early development phase certainly made us more susceptible to the negative impact of the recession and disruption in the banking system. When we entered into the order in 2010, those conditions had led to asset quality and capital concerns that needed to be addressed, and we have been diligent and systematic in taking the corrective action that we needed to take.”
“Our success is based on continuing to grow strong relationships with customers who want high levels of service – the type of service we think all banking customers deserve,” said Gray. “We’ve had great success growing those relationships.”
“Ultimately,” said Gray, “through all the potential distractions, we’ve succeeded by keeping our focus where it belongs – on building strong relationships based on trust and quality of service.”
About Pacific West Bank:
Pacific West Bank, a community bank, is headquartered in West Linn, Oregon, with a second branch in Lake Oswego, Oregon. Pacific West Bank provides highly personalized deposit and loan services to individuals and small-to-medium sized businesses, as well as financial and volunteer support to a variety of community, civic and charitable organizations. For more information about Pacific West Bank, please call 503-905-2222 or visit http://www.bankpacificwest.com. Information about the Bank's stock may be obtained through the OTC Markets at http://www.otcmarkets.com. Pacific West Bank's stock symbol is PWBO.
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