ALBANY, Ore., April 16, 2018 /PRNewswire/ -- Willamette
Community Bank ("WCB" or the "Bank"), one of
Western Oregon's finest small
community banks, today announced the appointment of Joan Reukauf as its new President and Chief
Executive Officer. Ms. Reukauf has previously served as WCB's
Interim Chief Executive Officer, has been an executive with the
Bank since 2010 and has served as Senior Vice President and Chief
Operations Officer since 2013. She succeeds departing CEO
Daniel McDowell, who has announced
his intention to resign for personal reasons.
Kerry Johnson, Chair of
Willamette Community Bank's Board of Directors, stated that "We are
honored and delighted that Joan has agreed to lead WCB into the
next chapter of its remarkable story." She continued, "Joan is one
of the Willamette Valley's best-known young business leaders, and
we are confident that she is the right person to help us continue
to grow, achieve a more efficient cost structure, and above all,
broaden our customer appeal by enhancing our client experience and
expanding our loan operations." The change is to be effective
immediately.
Ms. Reukauf said that "Working for WCB for the last eight years
has been a privilege. I am looking forward to leading this great
company and continuing to build its legacy in the community.
Community banking is about helping communities grow and WCB leads
that effort with an extraordinary staff of people in each of our
branches. I am thrilled to continue this company's path into the
future and to work closely with our customers and our
shareholders."
In the near term Ms. Reukauf will serve in an interim role
pending the receipt of the required bank regulatory approvals;
however, Ms. Johnson indicated that "We expect these approvals to
be received in due course, and we anticipate that Joan will
continue to lead the bank into a bright future as we refine and
continue executing our growth strategy."
About Willamette Community Bank
Willamette Community Bank
(http://www.willamettecommunitybank.com) is an Oregon chartered commercial bank headquartered
in Albany, Oregon, with branches
in nearby Salem and Lebanon. The bank had total assets of
$119 million, net loans of
$91 million, and total deposits of
$107 million as of December 31, 2017. In February 2018 the bank raised $7.2 million in additional capital through the
sale of approximately 795,000 shares of common stock.
Forward Looking Statements
This press release contains forward-looking statements about
management's plans and objectives for Willamette Community Bank.
These statements include statements about the current and future
strategic plans and objectives for the Bank, as well as
management's expectations for success. Other forward looking
statements include those describing WCB's board of directors'
expectations for the receipt of regulatory approvals and
non-objections regarding the designation of a new Chief Executive
Officer and the goals and expectations for the management change
announced herein. Readers can sometimes identify forward-looking
statements in our announcements by the use of prospective language
and context, including words like "may," "will," "should,"
"expect," "anticipate," "estimate," "continue," "plans," "intends,"
and other similar terminology. Because forward-looking statements
are, in part, an attempt to project future events and to explain
management's current plans and objectives, they are subject to
various risks and uncertainties that could cause our actions and
our financial and operational results to differ materially from
those we disclose. The risks and uncertainties applicable to the
statements in this release include without limitation our ability
to obtain the requisite regulatory approvals in a timely fashion or
at all, the satisfaction of any conditions imposed in connection
with such approvals, and the potential that the management change
we have announced will have the intended effects. Information
presented in this release is accurate as of the date shown above,
and we cannot undertake to update our forward-looking statements or
the factors that may cause us to deviate from them except as
required by law.
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SOURCE Willamette Community Bank