With Central Oregon ripe with residents who have high levels of disposable income which banks covet as potential depositors and the area's rapid growth spurring a rash of lending opportunities, officials now face a decision of how they should dedicate their resources to the respective fields.
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Loans or deposits? For banks in Central Oregon, the decision of which essential banking field to focus on is more challenging than ever to answer.
"We lend out a lot more than we get," he said. "And it'll continue to be that way for the foreseeable future."
Robert Berman, executive vice president with Prineville based Community First Bank, said the importance of gathering deposits along with the customer relationships it creates cannot be overstated.
Lake Oswego based West Coast Bank and Medford based PremierWest Bank both opened commercial loan offices in Central Oregon before setting up retail branch operations locally.
don't move money between markets," she said. "Oregon deposits are loaned out in Oregon, and Idaho deposits are loaned out in Idaho. It doesn't cross over, but it strengthens the company as a whole."
"It's extremely important that we start lending (as soon as High Desert receives its banking charter)," Snyder said, noting the bank will have $8 million in funds immediately available upon opening, and loan profits will allow management to recover startup costs quickly.
"Deposits provide the basis for loans, so our experience is we've Ghd Curls
"We still have a steady pipeline of loan demand," he added. "But our focus is on deposits because that is what we do. It's an important component of being a local community bank."
"We're emphasizing on offering more deposit products and services and putting more professional people in that area," he said.
Columbia River, for instance, continues to see more money put into Central Oregon than going the other direction, despite the company's focus on a more balanced effort, Christensen said.
Cascades's Miller agreed, noting that her bank has not shifted local deposits to investment elsewhere, despite recent expansions into other growth markets like Boise, Idaho.
Banks profit by lending money to borrowers and receiving return payments, but they also need to gather deposits to have the funds to lend.
Julie Miller, executive vice president and regional manager with Bend based Bank of the Cascades, said many banks coming into growth markets like Central Oregon often Babyliss Pro Curl enter with a loan first basis.
That is the case with Columbia River, where a specific executive has been appointed to balance the deposits and loan operations, said CEO Christensen.
The decision hasn't always been a difficult one, said Roger Christensen, president and CEO of The Dalles based Columbia River Bank, which has six branches in Central Oregon.
historically focused on deposits so we would have money to lend," Berman said, noting deposit relationships could also lead to loan relations as well with certain customers.
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But as competitors crowd the Central Oregon banking market 16 banks will serve the tri county region by the end of the year deposits from which these loans are funded are being spread thin, and more and more banks are dedicating more people to get a bigger piece of the pie.
In some markets, a strong deposits scene could actually lead to the region providing funds for banks, which they invest in growth markets with loan opportunities.
But Central Oregonians don't have to worry about their deposits flowing out of the region for investments elsewhere, officials say.
Larry Snyder, a local banker in the process of launching High Desert Bank in Bend, said his bank must maximize loan opportunities when it opens later this year.
"Traditionally, banks tend to be more loan focused," he said, noting that is the main source of bank profits. "But there has been a national deposits crunch, and we now have to weigh everything on a more balanced approach, which we think is critical."
"When you have a bank headquartered in another market coming in with a loan office, what they're doing is essentially taking their deposits from other markets and lending them out here," Miller said.
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