HERMISTON — Community Bank has passed the $400 million asset mark for the first time in its history.
The bank, which started in Joseph as Bank of Wallowa County, announced it finished 2018 with $422,824,000 in assets as a result of organic deposit growth and "deepening relationships with existing customers, as well gaining market share throughout the local communities serviced by the bank."
Since 2009 the bank has grown by more than 30 percent. Community Bank reported that it is the only bank in Eastern Oregon recommended by rating agency Bauer Financial, with a five-star rating.
Community Bank CEO Tom Moran said in a statement that the bank is the largest financial institution headquartered in Eastern Oregon.
"The funds deposited in Community Bank are redeployed directly into our local markets in the form of loans, investments, sponsorships, and donations," he stated. "Looking ahead, we see little reason to make changes to our business model. After all, it’s worked for 64 years."