Doug Leeding, Chief Executive Officer of Pacific West Bank announced his retirement from the bank he helped found in 2004. Leeding has been involved in local banking for 34 years. His retirement is part of the bank's strategic management succession plan implemented in 2008. He will continue to serve the bank in an advisory capacity through the end of the year and remain on the Board of Directors. Steve Gray was promoted from President to President and Chief Executive Officer. Gray became President in mid-2008 after serving as Chairman of the Board and has worked with Leeding toward a smooth transition. Both Leeding and Gray are charter founders of the local bank. Gray's previous business experience includes working as an auditor with an international CPA firm and serving as Corporate Controller at Microsoft. Gray is a past officer and board member of several West Linn community organizations.

Pacific West Bank reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported net loss of $99,000 or $0.13 per diluted share on interest and fee income was $964,000 compared with net income of $12,000 or $0.01 per diluted share on interest and fee income was $900,000 for the quarter ended June 30, 2008. Net interest income was $556,000 against net interest income of $544,000 for the same period a year ago. Loss before provision for income taxes was $163,000 against income before provision for income taxes was $19,000 for the same period a year ago. Loss on average assets was 0.55% against return on average assets was 0.09% for the same period a year ago. Loss on average equity was 5.28% against return on average equity was 0.59% for the same period a year ago. Book value as at June 30, 2009 was $9.80 per share against book value as at June 30, 2008 was $9.92 per share for the same period a year ago. The quarter was adversely impacted by the reversal of interest income necessitated by placing some loans on nonaccrual status and by FDIC assessments instituted to replenish a significantly depleted federal deposit insurance fund. For the first six months, the Bank reported a net loss of $148,000 or $0.20 per diluted share on interest and fee income was $1,965,000 compared with net income of $48,000 or $0.06 per diluted share on interest and fee income was $1,744,000 for the comparable period in 2008. Net interest income was $1,152,000 against net interest income of $1,062,000 for the same period a year ago. Loss before provision for income taxes was $244,000 against income before provision for income taxes was $79,000 for the same period a year ago. Loss on average assets was 0.43% against return on average assets was 0.20% for the same period a year ago. Loss on average equity was 3.96% against return on average equity was 1.26% for the same period a year ago. Book value as at June 30, 2009 was $9.99 per share against book value as at June 30, 2008 was $10.00 per share for the same period a year ago.

Pacific West Bank reported unaudited earnings results for the first quarter ended March 31, 2009. For the quarter, net interest income was $596,000 against $518,000 a year ago. Loss before income taxes was $81,000 against income before income taxes of $60,000 a year ago. Net loss was $49,000 or $0.06 per diluted share against net income of $36,000 or $0.05 per diluted share a year ago. Return on average assets (annualized) was negative 0.30% against return on average assets (annualized) of 0.33% a year ago. Return on average equity (annualized) was negative 2.63% against return on average equity (annualized) of 1.94% a year ago. Book value per share as on March 31, 2009 was $9.92 against $9.97 a year ago.