Business View Magazine | September 2020

141 BUSINESS VIEW MAGAZINE SEPTEMBER 2020 PEOPLE ’ S BANK OF COMMERCE of our business is around commercial loans, whether it’s construction, equipment financing, lines of credit, or developing. We’re the only hometown, locally-headquartered bank within 200 miles in either direction. Our competitors are all regionals, super regionals, and national banks (Wells Fargo, Chase, etc.) And we compete extremely well by getting more efficient. Our goal is to be as low as we can on the cost of our funds on the commercial lending side, so we can pass that savings on to our clients.” Beattie: “All the local decision making occurs right here. That gives our clients and prospective clients the opportunity to meet those decision makers in the bank and that has real value in the community. It also allows us to be very nimble when our customers need a change. We can respond much quicker than a regional or a national bank. Because we have to work a little harder to be competitive, our commercial lenders have become proficient using a variety of tools.” who get tired of the big city and want a simpler lifestyle and move here. We’ve made a living catering to that group and they’ve been a good solid base for us on the deposit side. In 10 years, we went from $6 million in capital to $80 million. Today, we’re just under $500 million in size. Our strategic plan takes in geographic opportunities, particularly expansion northward, whether organic by building a branch, or acquiring a bank. When we started 22 years ago, there were 39 state-chartered banks in Oregon. Today there are 13, so there’s more opportunity for growth on the organic side.” BVM: How do you keep a competitive edge over other financial institutions? Trautman: “Of the top ten financial institutions in Oregon, nine are credit unions. And they have a 40 percent advantage over us when we compete on the consumer products because they’re non-tax paying. That’s what drove us into the commercial model. Ninety percent