Willamette Community Bank to Merge With People’s Bank of Commerce - Seite 2

Upon closing, Joan Reukauf will serve as Area President and Executive Vice President, Chief Operating Officer of People’s Bank of Commerce. Three current members of Willamette Community Bank’s board of directors will join the board of directors of People’s Bank of Commerce. After closing, Willamette Community Bank’s three branches will continue to operate under the name Willamette Community Bank, a division of People’s Bank of Commerce.

Willamette Community Bank has three branches in Albany, Salem and Lebanon, Oregon. As of September 30, 2020, Willamette Community Bank had $210 million in total assets, $147 million in gross loans held for investment and $181 million in total deposits.

People’s Bank of Commerce has six branches throughout Southern Oregon with their headquarters in Medford, Oregon. As of September 30, 2020, People’s Bank of Commerce had $500 million in total assets, $356 million in gross loans held for investment and $432 million in total deposits.

Advisors

D.A. Davidson & Co. served as financial advisor to People’s Bank of Commerce and Miller Nash Graham & Dunn LLP served as legal counsel. Piper Sandler & Co. served as financial advisor to Willamette Community Bank and Buchalter APC served as legal counsel.

About People’s Bank of Commerce

Founded in 1998, People’s Bank of Commerce is the only locally owned and managed community bank in Southern Oregon. People’s Bank of Commerce is a full service bank headquartered in Medford, Oregon with branches in Medford, Ashland, Central Point, Grants Pass and Klamath Falls. People’s Bank of Commerce’s stock trades on the over-the-counter market under the symbol PBCO. Additional information about the Bank is available in the investor section of the bank’s website at: www.peoplesbank.bank.

About Willamette Community Bank

Founded in 2003, Willamette Community Bank is a full service bank headquartered in Albany, Oregon and serves customers from three offices located in Albany, Lebanon, and Salem. Willamette Community Bank’s stock trades on the over-the-counter market under the symbol WMCB. More information can be found at www.willamettecommunitybank.com.

Forward-Looking Statements

Certain statements in this release may be deemed to be "forward-looking statements.” Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties, particularly including but without limitation the risk that one or both parties may experience difficulties or delays in obtaining regulatory approval or stockholder approval, or in satisfying other conditions to closing the merger, and there can be no assurance that the merger will be consummated at the time or on the terms currently expected, or at all. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.

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