Lewis & Clark Bank, Clatsop Community Bank Merger Complete

Company Release - 5/30/2019 2:50 PM ET

The combination creates a nearly $300 million asset commercial bank serving Portland Metro and the Oregon Coast

OREGON CITY, Ore.--(BUSINESS WIRE)-- Lewis & Clark Bank (OTC Pink: LWCL) (“Lewis & Clark”) and Clatsop Community Bank (“Clatsop”) announce the successful completion of their merger. The combined bank, named Lewis & Clark Bank and headquartered in Oregon City, has assets of approximately $300 million and branch locations in Oregon City, Oregon; Seaside, Oregon; and Astoria, Oregon.

Jeffrey Sumpter, President & Chief Executive Officer of Lewis & Clark Bank, said, “The completion of our merger with Clatsop Community Bank expands our geographic footprint while strengthening our ability to serve our clients.”

Lewis & Clark Bank will continue to trade under the ticker symbol “LWCL” on the OTC exchange (OTC Pink).

Under the terms of the merger agreement, which was entered into on January 31, 2019, Clatsop Community Bank shareholders receive 0.3040 Lewis & Clark Bank shares and $2.89 in cash in exchange for each share of Clatsop stock.

“We are very excited to have successfully completed the merger of two strong organizations,” said Joe Schulte, Market President. “The combined team of talented employees is enthusiastically collaborating to build on our history of service to our customers and communities.”

Forward-Looking Statement

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. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement.

Jeffrey Sumpter, 503-212-3107

Source: Lewis & Clark Bank