Local Bank Releases 1st Quarter Numbers
Ron Green, President of Oregon Pacific Bank say the bank’s first quarter performance shows year over year growth. Green says the bank, headquartered in Florence, says their philosophy of emphasizing on balance sheet diversification and focus on attracting business banking relationships that value service has served the bank well. The recent closure of two banks on a national scale put worry in some institutions, but recent data released by OPB shows the bank in a strong position. Green also said that while some business depositors have invested their excess liquidity in non-banking products, such as US treasuries, OPB has not lost any business relationships to other local or regional commercial banks for reasons of clients looking for a higher yield on deposits. According to the data OPB experienced a 4.26% annualized increase with a quarterly deposit growth of $7.2 million.
Waldport Man Dies in Accident
A Waldport man is deceased after he crossed the center line of Highway 20 just 3 miles east of Newport. Oregon state police are still investigating and do not yet know why 70 year old David Weaverling crashed his Rav4 toyota into the westbound Toyota Tacoma driven by Summer Rose Lovell of Wilsonville. The accident occurred on Monday morning at approximately 10 am. Weaverling was pronounced dead at the scene and Lovell was transported to the hospital with serious injuries. The road had to be partially closed for about 5 hours.
Volunteers Needed
If you are one of the people who love to go down to shore acres and take in the beauty, the caretakers of the state park are looking for volunteers to spruce up the gardens for the summer influx of visitors. There are 2 events planned one on May 19th and the other on June 16th. Volunteers can visit the Shore Acres State Park website to sign up. The park is gearing up for Rose Sunday on June 18th a father’s day celebration.
Gas Prices on the Rise
Oregon topped the 4 dollar mark for regular gas this week. Marie Dodds with AAA Oregon says the state jumped 7 cents even though the cost of crude has been steady for the past several weeks. She says the increases will continue for a while as demand and seasonal switches to summer blends push prices up. The current price of a gallon of regular gas in Florence is $3.56 a gallon up slightly from last week.