Columbia Bancorp CEO Announces Successor.Business Editors THE DALLES dalles pl.n. The rapids of a river that runs between the steep precipices of a gorge or narrow valley. [French, pl. of dalle, gutter, from Old French, from Old Norse dæla.] , Ore.--(BUSINESS WIRE)--Feb. 27, 2001 Terry L. Cochran, president and chief executive officer of Columbia Bancorp (Nasdaq:CBBO) announced today his plans to remain on the board of directors, but retire from active management of the corporation on May 15, 2001. Roger Christensen, currently executive vice president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for Columbia Bancorp, will succeed Cochran as president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the holding company for Columbia River Columbia River River, southwestern Canada and northwestern U.S. Rising in the Canadian Rockies, it flows through Washington state, entering the Pacific Ocean at Astoria, Ore.; it has a total length of 1,240 mi (2,000 km). Bank, based in The Dalles. Cochran has been with Columbia Bancorp and Columbia River Bank for 20 years. In addition to leading Columbia Bancorp since its inception in 1995, he served as president and CEO of Columbia River Bank from 1981 to 1999. Prior to joining Columbia Bancorp, Cochran was with U.S. National Bank of Oregon for 15 years. "Cochran's continuing role on the Columbia Bancorp board of directors is highly valued because of his vast knowledge of the bank and the banking industry," stated Donald T. Mitchell, board chairman. Throughout his 35-year career he was active in banking associations in Oregon, and nationally. He served as president of the Oregon Bankers Association in 1990-91 and Oregon State Chairman for the American Bankers Association The American Bankers Association (ABA) is comprised of banks and other financial institutions. It seeks to promote the strength and profitability of the banking industry by Lobbying federal and state governments, building industry consensus on key issues, and providing products and in 1991-93. He recently retired from the board of directors of Pacific Coast Banking School at the University of Washington, and he currently serves on the board of directors of the Western Independent Bankers Association. He began his banking career directly after graduation from Washington State University Washington State University, at Pullman; land-grant and state supported; chartered 1890, opened 1892 as an agriculture college. From 1905 to 1959 it was the State College of Washington. . He moved up the ranks at U.S. National Bank from executive trainee to merchant representative to loan officer, and on to branch manager. After 15 years with U.S. National Banks in Portland, Bend, and The Dalles, he accepted the job as president at the then three-year-old Columbia River Bank. Throughout his tenure, Columbia River Bank grew from $14 million to $417 million in assets and acquired other community banks along the way, including Klickitat Valley Bank in Washington, Juniper Banking Company in central Oregon Central Oregon is a geographical region lying near the center of the U.S. state of Oregon. It is commonly considered to include Deschutes, Jefferson, and Crook counties. Primary cities in Central Oregon are La Pine, Sunriver, Bend, Redmond, Madras, and Prineville. , and Valley Community Bank in the Willamette Valley The Willamette Valley (pronounced [wɪˈlæ.mɪt], with the accent on the second syllable) is the region in northwest Oregon in the United States that surrounds the Willamette River as it proceeds northward from its . Columbia Bancorp is the holding company for Columbia River Bank, which currently operates 13 branches located in The Dalles, Hood River The Hood River is a tributary of the Columbia River in northwestern Oregon in the United States. Approximately 25 mi (40 km) long from its mouth to its farthest headwaters on the East Fork, the river descends from wilderness areas in the Cascade Range on Mount Hood and flows , Bend, Madras, Redmond, Pendleton, Hermiston, McMinnville and Newberg, Oregon Newberg is a city in Yamhill County, Oregon, United States. A tradition holds that this town was named by its first postmaster, Sebastian Brutscher, for his former hometown of Neuberg in Germany. One of the current streets, Brutscher Street, is named after him. , and in Goldendale and White Salmon, Washington White Salmon is a census-designated place (CDP) in Klickitat County, Washington, United States. The population was 2,193 at the 2000 census. History White Salmon was officially incorporated on June 3, 1907. . In addition to its community banking services, Columbia River Bank provides mortgage lending services through its Columbia River Bank Mortgage Group and brokerage services through its affiliation with PrimeVest Financial Services, Inc. and LaSalle St. Securities. In addition, Columbia Bancorp's news releases, 10-Qs and 10-Ks for the last twelve months are available via fax-on-demand. Call 800/683-0074 to request documents and on the Web site at www.columbiabancorp.com. Forward-looking statements with respect to the financial condition, results of operations and the business of Columbia Bancorp are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth is such statements. These include, without limitation, Columbia's ability to manage new and acquired branches: the effect of interest rate changes; the impact of competition on revenues and margins; regional and general economic conditions and other risks and uncertainties as may be detailed from time to time in Columbia's public announcements and filings with the SEC. Forward-looking statements can be identified by the use of forward-looking terminology, such as "may", "will", "should", "expect", "anticipate", "estimate", "continue", "plans", "intends", or other similar terminology. Columbia does not intend to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of the Report, other than in its periodic filings with the SEC, or to reflect the occurrence of unanticipated events. |
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