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THE BANK OF NEWPORT ANNOUNCES PROGRESSIVE BANKING PROGRAM

 /ADVANCE/ LAKE OSWEGO, Ore., Oct. 18 /PRNewswire/ -- The Bank of Newport announced today it has introduced a new product line of socially responsive banking services; it is the first bank in the Pacific Northwest to offer such a program.
 Beginning mid-October, socially conscious investors are now able to support small businesses, affordable housing and community development projects by depositing their money in Bank of Newport progressive checking accounts, money market accounts and certificates of deposit.
 "The Progressive Banking Program allows our customers to see their deposits being used in a socially responsive manner -- whether it's to help minority owned businesses, support community development projects or assist small businesses," says Dave Hansen, vice president and manager of the Bank of Newport's business banking office in Lake Oswego.
 Depositors in the program will receive semi-annual reports telling them how their dollars are being invested. An advisory board including key bank personnel, members of the community and users of the program will perform an ongoing review of the program.
 "There's a real need for a program like this," says Hansen. "We're excited to be the first financial institution in the Northwest and one of a handful in the United States to offer banking opportunities which respond to social concerns."
 The Bank of Newport is a full service financial institution with branches in Newport, Lincoln City, Depoe Bay, Waldport, Toledo and a business banking office in Lake Oswego.
 -0- 10/18/93/1015
 /NOTE TO EDITORS: Interviews are available with Bank of Newport representatives Victor L. Bartruff, president; Dave Hansen, vice president, business banking officer; and Don Hoshino, community reinvestment act officer/
 /CONTACT: Marian Massey of Harris Massey Herinckx, 503-295-1922, for the Bank of Newport/


CO: Bank of Newport ST: Oregon IN: FIN SU: PDT

RB-IC -- SE006 -- 2646 10/15/93 10:15 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
Words:300
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