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|Articles - March 2014|
|Tuesday, February 25, 2014|
Page 5 of 5
Looking backward while looking forward
An intangible, money is becoming even less concrete as it manifests as pixels on a computer screen — although the technological changes under way in the digital-money sector are moving at a far slower pace than technology at large. Perhaps that’s to be expected, as much of this technology is geared toward enhancing money’s age-old functions.
Today digital money innovations revolve as much around rectifying flaws in the current financial system as boosting efficiencies. Consumers and businesses want to trust the people and institutions managing their money. They want a stable currency. They want to send and receive cash. They want access to loans. They want to feel a connection to local businesses. These goals haven’t changed much over generations, but new technologies, unthinkable decades ago, may make such objectives easier to achieve.
Banks bounce back
Banks may not be hotbeds of mobile finance innovation, but in 2013, many Oregon financial institutions reported record earnings, a sign the region’s economy is on the upswing and that local banks are regaining their footing in the wake of the 2008 economic collapse. Bank executives credit strong performance to the power of niche banking, personal relationships and a decline in problem loans.
Capital Pacific Bank
In 2013 Capital Pacific’s loan portfolio clocked in at $187.98 million, up 18% from 2012. Deposits rose 19% to $207 million. “We know exactly why we have been successful,” says CEO Mark Stevenson. “It’s the power of niche banking.” More than half the bank’s deposits come from nonprofits and schools. Capital Pacific also markets itself aggressively as an eco-friendly bank, and 12% of deposits now come from organizations with a sustainability focus or a commitment to green practices. A business-focused institution, Capital Pacific isn’t subject to the increased regulatory costs connected to consumer banking. And in an era when banks are announcing branch closures, Capital Pacific’s lone branch status creates financial and operational benefits. Says Stevenson: “With only one location, we can be more efficient.”
Willamette Community Bank
Net income for the year increased by 61% over 2012, marking the most profitable year in the bank’s 10-year history. Loan growth and a new management team helped drive profitability, says Stewart Williams, senior vice president of marketing. “We saw loan growth in the Willamette Valley, where we have a number of small-business and medium- business customers looking to expand.” The new management team, led by CEO Dan McDowell, also implemented operational efficiencies. “What you’re seeing is the effect of new leadership coming in,” Williams says.
Pacific Continental Bank
In 2013, Pacific Continental reported a record profit of $13.8 million, up about 9% from 2012. Expansion of the bank’s dental lending program helped drive growth, says CFO Mick Reynolds. In 2012 the bank expanded this program nationally, and Pacific Continental now has active dental loans in 30 states, representing about $300 million of its $1 billion loan portfolio. Like most banks, Pacific Continental continues to see a decline in problem loans; the bank’s successful acquisition of Century Bank in Eugene and the “high retention level of that client base” also helped grow business, Reynolds says. But the biggest factor may be the corporate culture and employees. Hoopla over mobile and online banking notwithstanding, “banking is a people-to-people business, especially on the business side,” says Reynolds. “Our people have been critical to our success.”
Thursday, June 11, 2015
In 2014, total revenue for camping and day use in Oregon State Parks was a little more than $17 million. That figure may even higher this year "because we've had exceptionally nice weather," Hughes says.
Friday, May 22, 2015
BY ANNIE ELLISON
Portland tech veteran Ben Berry is leaving his post as Portland’s chief technology officer for a full-time role producing unmanned aerial vehicles (UAVs) aimed at first responders and the military. Berry’s AirShip Technologies Group is poised to be on the ground floor of an industry that will supply drones to as many as 100,000 police, fire and emergency agencies nationwide. He reveals the plan for takeoff.
Thursday, June 25, 2015
An international architecture firm known for its design of the National September 11 Memorial Museum Pavilion in New York unveiled its plan this week for a modern indoor/outdoor food market at the foot of the Morrison Bridge in downtown Portland.
Wednesday, May 20, 2015
BY KIM MOORE | RESEARCH EDITOR
An earthquake would completely destroy many Oregon businesses, highlighting the urgent need for the private and public sectors to collaborate on shoring up disaster preparedness, said panelists at an Oregon Business breakfast summit today.
Friday, May 22, 2015
BY HANNAH WALLACE
Travelers have always come to Oregon for its natural beauty. But will the increasing popularity of agritourism, European-style hiking getaways and forest resorts relax Oregon's notoriously strict land-use laws?
Wednesday, May 27, 2015
PHOTOS BY JASON E. KAPLAN
Oregon Business celebrated the 100 Best Green Workplaces with an awards luncheon yesterday at the Nines Hotel in downtown Portland.
Wednesday, June 10, 2015
Jeff Lang and his wife Rae used to dole out campaign checks like candy. “We were like alcoholics,” Lang says. ”We couldn’t just give a little.”
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Tonkon Torp helps seed sustainability at Gunderson.
Oregon-based Environments helps companies create inspired workspaces. “Simply put, we help companies future-proof their workspaces,” says Chris Corrado, president. Since 1988,Environments has witnessed firsthand the changing landscape of business. Native Portlander and Environments founder Corrado says, “We help our clients navigate the complex realities of the workplace today and plan for their future in a very mindful, strategic way. We think of ourselves as their partners in the process.”
One hundred years ago, the Willamette River might easily have been mistaken for a sewer. Unchecked industrial activity and decades of pollution made it unrecognizable compared to the clean river that now flows north for 187 miles from Eugene through the center of Portland.
3 Degrees Event Celebrates 5th Year Bringing Nonprofit and Business Professionals Together to Benefit Portland.
Bend energy leader brings passion for efficiency and renewable energy to the nonprofit.
Event in Forest Grove marks recognition of Global Food Safety Initiative Certification.