Pinnacle Bank of Oregon, the only Beaverton-headquartered bank in Oregon, has concluded another flourishing year with very strong growth. During 2005 there has been an office expansion, a growth of the asset base of the bank from $40 million to $73 million (an 83% increase) and the conclusion of a very successful stock offering raising an additional $5.2 million in capital. The Bank continues to work to improve its operational and compliance procedures and controls in accordance with regulatory guidelines.

Pinnacle Bank reported net income for the years ended December 31, 2005 and 2004 of $164,504 and $702,340, respectively, compared to net income for the quarters ended December 31, 2005 and 2004 of $220,397 and $604,150, respectively. The 2004 financial results were favorably impacted by $398,691 for the initial recording of the Bank�s net deferred income tax assets, including the effects of the Bank�s net operating loss carry forwards since inception. During 2005 the Bank recorded $1.028 million in its 2005 loan loss provision compared to $277,899 recorded in 2004; the Bank�s reserve for loan losses is established to absorb known and inherent losses in the loan portfolio. The loan portfolio grew from $38.7 million at December 31, 2004 to $70.9 million at December 31, 2005, while deposits grew from $35.0 million to $59.5 million over the same period.

Pinnacle Bank was founded to be a high-quality local financial institution serving the incredible growth occurring in the Portland Metropolitan area. Located in Beaverton, Oregon, we are at the heart of an area rich with thriving industries � including high-tech, medical services, real-estate, and dozens of other vital market sectors. To truly serve this community better, Pinnacle is responsive on a truly local level to the many emerging and established small businesses.

Pinnacle Bank�s founders � made up of Oregon natives and other long-time residents � are dedicated to forming the institution�s wide-ranging product and service mix with a customer-oriented focus. Pinnacle Bank�s employees strive to be nothing less than dedicated, local financial experts who understand, respect, and serve local banking needs.

Pinnacle Bank of Oregon is located at 8880 SW Nimbus Avenue, Suite D in Beaverton OR. Phone number: 503.644.3000. Fax: 503.643.4459.
Email: [email protected].
Website: www.pinnaclebankoregon.com.
Pinnacle Bank is FDIC insured, and an Equal Housing Lender.