Willamette Community Bank Reports Record Earnings

Willamette Community Bank Reports Financial Results for Full Year Ended December 31, 2011
Albany, Oregon – March 21, 2012 – Willamette Community Bank, (WMCB: OTCPK), announced today its financial results for the full year-ended December 31, 2011.
The Bank reported record income before tax of $635,000 and after tax net income of $400,000 for year-ended December 31, 2011 representing a net income increase of $209,000, or 109%, when compared to net income of $191,000 for the same period ended December 31, 2010. Earnings per share for the full year-ended December 31, 2011 were $0.60 compared to $0.29 for year-ended 2010.
The return on average assets year-ended 2011 was 0.49% compared to 0.24% for the same period ending 2010. The return on equity was 5.55% for year-ended 2011 and 2.72% for year-ended 2010.
President and CEO, Dave Wood stated, “We are very pleased with our ability to deliver historic earnings in what remains a challenging economic environment. Our earnings have been positively impacted by an improving net interest margin with the added benefit of modest credit losses given our history of exceptional credit quality”. Wood further commented that Willamette Community Bank remains a peer group leader, reporting no loans over thirty (30) days past due at year-end 2011 and non-performing assets of 0.50% to total assets. Chairman of the Board Kerry Johnson stated, “It is gratifying to see the number of customers we are serving at our Albany and Lebanon branch offices for both depository and commercial / agricultural loans from the communities of Jefferson, Stayton, Scio, Sweet Home, Brownsville, Corvallis and Eugene. We are developing a very solid mid-Willamette presence”.
About Willamette Community Bank
With assets of $79.3 million at December 31, 2011, Willamette Community Bank is the only locally owned community bank headquartered in Albany, Oregon, providing commercial, agricultural and consumer depository and loan services throughout the mid-Willamette Valley. The Company has two offices: Albany and Lebanon. Additionally information about the Company is available at www.willamettecommunitybank.com.