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Byline: The Register-Guard

LibertyBank reports record profit in last quarter of '04

Eugene-based LibertyBank reported record profits in its second fiscal quarter, which ended Dec. 31. Consolidated earnings reached $2 million for the first time in any quarter and were up 9.5 percent from a year ago, the bank said.

Chief Executive Bob Fenstermacher said record loan production was driving the earnings growth. "Our loan production for the second quarter exceeded $100 million and is an indication of the success of the bank's enhanced business development program," he said.

The bank opened two new offices in Eugene during the quarter, which will provide additional growth, he said. Total assets grew by $32 million, to $580 million at the end of the quarter. LibertyBank is the largest privately held bank headquartered in Oregon, with 13 offices from Grants Pass to Portland.

Pacific Continental reports

increase in profits, assets

Eugene-based Pacific Continental Corp., the parent company of Pacific Continental Bank, reported a profit of $2.2 million in the fourth quarter, up 23.6 percent from a year ago.

Earnings per share rose to 25 cents, from 21 cents a year ago, and operating revenues rose 16 percent, to $8 million. For the year as a whole, profits increased 16 percent, to $7.9 million, with earnings per share rising 14 percent, to 90 cents. Assets grew by $90.9 million during the year, to $516.7 million, the first time assets have exceeded $500 million.

Chief Executive Hal Brown said the bank saw strong growth in assets and loans and continued improvement in its portfolio credit quality during the year. The bank continued to expand in Portland, and its total assets are now about equally distributed between the Portland and Lane County markets, he said.

Louisiana chain finishes buyout of Eugene's Obie Media

Louisiana-based Lamar Advertising said on Wednesday that it has completed its purchase of Eugene-based Obie Media Corp. in a deal valued at about $43 million, plus the assumption of $23 million of Obie's debt.

Each share of Obie common stock was converted into the right to receive 0.1665 of a share of Lamar common stock. Lamar has issued about 1 million shares of stock as a result of the deal. Lamar currently operates 153 outdoor advertising companies in 43 states as well as logo advertising businesses and transit advertising franchises. Obie sells advertising displays on billboards, transit shelters and transit vehicles. - From Register-Guard

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Title Annotation:Business; METRO
Publication:The Register-Guard (Eugene, OR)
Date:Jan 20, 2005
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