Centennial Bank Announces Full-Service Clackamas Banking Office Now Open.

PORTLAND, Ore.--(BUSINESS WIRE)--Nov. 1, 1999--

Centennial Bank announces the opening of its Clackamas full-service banking office. Centennial Bank occupies the first floor of One Monarch Center, located at 12550 S.E. 93rd Avenue, in the fast-growing Sunnyside area. Centennial's newest office offers easy access from I-205. The Clackamas Office phone number is 503/786-0637.

"We are very excited to have this opportunity to serve the banking needs of businesses, professionals and individuals in this rapidly growing commercial area," said David Gazeley, Centennial's executive vice president and head of Centennial's Community Banking division.

"The Clackamas office location is easily accessible both north and south from I-205 in this area. Our drive-up ATM and two drive-up lanes open early at 7:30 a.m. and the office opens at 9 a.m. Our hours make it highly convenient for both business and retail customers."

Centennial Bank specializes in providing depository and lending services to small and mid-size businesses, executives and professionals. The bank has a strong reputation for highly personal service and local decision-making. Centennial Bank has been awarded the Preferred Lender designation by the Small Business Administration for fast and easy processing of SBA loans. Centennial also delivers a broad offering of cash management and other commercial services as well as retail services.

Among Centennial's individual services are a new convenience card that brings ATM, Check Guarantee and debit features together in one card. Many banks have discontinued offering Check Guarantee Card services, said Gazeley. Other offerings from Centennial include rechargeable CDs and a very cost-effective Fifty Plus Account for seniors.

In addition to the full-service office, Centennial Bank also will establish a Commercial Banking Center at the same location. The Commercial Banking Center specializes in meeting the needs of mid-size commercial customers up to $50 million in annual sales.

For added customer convenience, Centennial Mortgage Co. also has relocated its office from 10365 S.E. Sunnyside Road to the first floor of the Monarch Building adjacent to Centennial Bank. Centennial Mortgage Co. originates conventional and federally insured residential mortgages as well as residential and commercial construction loans. Centennial Mortgage Co. currently operates three offices in Portland and two offices in Eugene.

With the opening of the Clackamas office--the bank's fifth new office this year--Centennial Bank now offers a total of 14 full-service banking offices throughout the I-5 corridor. Six are in Portland; one in Vancouver, Washington; one in Salem; four in Eugene; and one each in Springfield and Cottage Grove. Centennial Bank also operates five limited-service retirement center branches in the Portland area as well. As of September 30, 1999, total assets for Centennial Bancorp were $680 million.