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COMMERCIAL BANCORP, FARMERS AND MERCHANTS BANK MERGER COMPLETED

COMMERCIAL BANCORP, FARMERS AND MERCHANTS BANK MERGER COMPLETED
    SALEM, Ore., Nov. 1 /PRNewswire/ -- Representatives of Commercial Bancorp (NASDAQ: CBOR), a Salem-based bank holding company, and Farmers and Merchants Bank of Forest Grove today jointly announced the completion of the previously announced acquisition of Farmers and Merchants Bank by Commercial Bancorp.
    Commercial Bancorp President, R.B. Tibbatts said, "We are pleased that Farmers and Merchants has joined with Commercial Bancorp in a partnership dedicated to the preservation of locally managed community banking in Oregon."
    Farmers and Merchants Bank has changed its name to Valley Commercial Bank concurrent with this transaction.
    Valley Commercial Bank President Lloyd Hamilton said, "We are excited that Valley Commercial will continue to offer locally managed banking to Western Washington County, while drawing upon the resources of Commercial Bancorp for additional services."
    Commercial Bancorp is the holding company for The Commercial Bank, with over $200 million in assets.  The Commercial Bank is the mid- Willamette Valley's largest locally owned and operated bank with 12 branches in Salem, Keizer, Monmouth, Molalla, Newberg, Silverton and Wilsonville employing approximately 200 people
    Valley Commercial Bank has over $14 million in assets and is Washington County's only locally owned bank, with its home office in Forest Grove and additional branches in Vernonia and North Plains.
    -0-                     11/1/91
    /CONTACT:  R.B. Tibbatts of Commercial Bancorp, 503-399-2946; or Lloyd Hamilton of Valley Commercial Bank, 503-359-4495/
    (CBOR) CO:  Farmers and Merchants Bank; Commercial Bancorp; Valley Commercial
     Bank ST:  Oregon IN:  FIN SU:  TNM JH-LM -- SE005 -- 0222 11/01/91 12:19 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 1, 1991
Words:258
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