Oregon Pacific Bancorp to increase lending

Oregon Pacific Bancorp to increase lending

Oregon Pacific Bancorp raised $2.4 Million in a stock sale that it will use to increase local lending.

Bank officials said the stock sale, a private placement of common stock to a group of accredited and institutional investors, will fund more than $24 million in new loans.

“The stock sale will allow Oregon Pacific Bank to significantly increase lending to businesses and individuals within its market area of Lane, Douglas and Coos counties,” according to a written statement from the bank.

Read more at The Register-Guard.

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