Newsletter

Spring 2019

From The President's Desk

Given the winter we’ve endured, everyone is surely looking forward to a bit of summer. Although the cold weather appears to be over for now, the chill of Tax Day still lingers. Our bankers are currently collecting tax returns and updated financial information on many of our borrowing customers, so I thought now might be a good time to touch on a few important areas of financial management. While much of this pertains to small business owners and operators, there are a few tidbits sprinkled in that others may find useful.
 
No matter what the farm or business type may be, few will succeed long term if management of cash flow is neglected. The biggest balancing act you perform as a business owner is money out versus money in. Cash flow is so important, that the Community Bank Lending Philosophy is largely based on it (find by searching “business lending philosophy” on our website).
 
The concept of cash flow management is wide-ranging, but the basic tenets are simple: you want to understand where your money is, who you owe, and who owes you. Timing is also a critical component here. Certain expenses (utilities, taxes, rent, insurance etc.) typically require prompt payment. However, if the business or farm operates under the accrual basis of accounting, recognized revenues may not produce immediate cash for payment of these expenses.
 
Recognizing and controlling the timing of cash inflows and outflows can be challenging. Creating a budget will assist you with determining the timing of revenue and expenses, as well as helping you identify problem areas. For larger or more complex businesses, there are many industry-specific budgeting software solutions to help manage tracking.
 
Whether it’s assisting with the budgeting process, or discussing different aspects of cash flow in general, your Community Bankers are here to help you every step of the way - after all, it’s what we do. Good luck in the second quarter and enjoy your summer.

 

Tom Moran
President/CEO


Branch Hours Update

We’ve recently conducted a branch transaction study and we’re changing branch hours in many locations to better serve your needs, as well as to streamline our after hours processing. If you have any questions talk to your local branch manager.
 
Effective June 3rd, the following are the updated hours. If you don’t see your branch on this list, their hours will not be changing.
 
Hermiston & Clarkston
Monday - Friday Lobby 9:30-5:00
Monday - Friday Drive up 9:00-5:00

Walla Walla, College Place
& Milton-Freewater
Monday - Friday Lobby 9:00-5:00
Monday - Friday Drive up 9:00-5:00

Pendleton, La Grande & Valley
Monday - Friday Lobby 9:00-5:00
Monday - Friday Drive up 8:30-5:00

Joseph, Enterprise & Baker City
Monday - Friday Lobby 9:00-5:00
Monday - Thursday Drive up 8:30-5:00
Friday Drive up 8:30-5:30
 

Win-Win CD Pays Big


Congratulations to our most recent Win-Win CD $200 monthly drawing winners! 

  • January: Sarah Hsu of Pendleton
  • February: Greg Seufer of Enterprise
  • March: Ann Copley of La Grande
  • April: Jennifer Fox of La Grande
 

Annual BBQ's Approach

We’ve been gearing up for our 2019 BBQ Season! We’re ordering supplies, organizing our BBQ buffet station, and anxiously awaiting beautiful weather to accompany each and every (fingers crossed) BBQ event this year. We’re serving up delicious burgers and hot dogs with all the fixings to show you our appreciation for your continued business. We hope you are able to join us! BBQ’s run from 11 am to 2 pm.
 
May 30 in Heppner
June 4 in Clarkston
June 6 in Hermiston
June 13 in Milton-Freewater
July 18 in Baker City
July 24 in Elgin
July 30 in Pendleton
August 13 in Wallowa County
August 20 in College Place
August 28 in La Grande (2313 Adams Ave)

Hamilton Photo Contest

The Traveling HAMilton $1,000 Photo Contest is back for its 5th year! The contest kicks off on June 3rd and will run through June 30th. The top 5 photos from each week will be vying for your votes on Community Bank’s Facebook and Instagram pages. The photo with the most cumulative likes for each week will earn the winner $100 and a chance at the $1,000 grand prize. The top 4 photos from four weeks of competition will be assessed by a Bank committee and the top photo will be awarded the $1,000 grand prize. If you’d like to enter, but don’t have a Hamilton piggy bank, stop by your local branch and pick one up today!
 
To view contest rules and see how you can enter, click here
 
Good luck to all our photographers!
 

Celebrate Good Grades! 

As the school year comes to a close, don’t forget that your good grades can earn you money! Youth savings customers in grades 1 through 12 can bring in their report cards during the months of June and July to receive credit for their good grades during the 2018-2019 school year. Last year, 704 student customers cashed in on their good grades, earning a total of $16,777. Since 2011 Community Bank has paid out a total of $96,385 to students in our communities. We are looking forward to breaking the $100,000 threshold this year! Learn more about our Earn While You Learn program online or at your local Community Bank branch.

 

The Community Focus

If you follow Community Bank on Facebook or Instagram, perhaps you’ve noticed more videos popping up lately. Our marketing team has been meeting up with community members and business owners to create a short video series highlighting things we think may be important to you. Previous videos have featured a rep from Community Connection of NE Oregon in Enterprise explaining the ins and outs of the food bank, and how donations help them to be successful. Other interviews include Kim McDaniels of Krivoshein Financial in Walla Walla, talking retirement and ways to save. If you are a business owner, or involved in a local organization and have something you’d like to share with the community we’d love to hear from you!
 
Please Contact Leah Johnson at
ljohnson@communitybanknet.com
Subject line: Community Focus Video
Or reach out to your local branch. 
 

Local Business Happenings

Arrowhead Chocolates opened in 2010, and has become a beloved part of the Wallowa County Community. In November of 2018, Jerry and Tracy Ivy, and Chad and Sylvanna Dotson purchased the business and a nearby building. The new location, at 4 S Main Street in Joseph, underwent an extensive remodeling process and reopened in early March. Arrowhead’s new location is inviting, spacious, and cozy. The new owners are excited by the possibilities that this new chapter will bring, and are grateful to be a part of bringing joy to the community.
 
Quality Concessions, has a new owner and name. Seth Moses, longtime resident of Morrow County and successful business owner, is the new owner and operator of Quality Food Concessions. Quality Food Concessions is a mobile food truck offering quality fair food. They will be making the rounds to some events happening in Eastern Oregon. When they are not traveling, you can find them at the Food Pod in Hermiston.
 
El Roi Apparel is a new men’s and women’s clothing store located on Main Street in Pendleton, OR. The shop is locally owned by Carolyn and Lowell Britt. Carolyn previously managed the Speakeasy Clothing Co. until its closure in 2018. She wanted to continue serving the community’s apparel needs, leading to the opening of her own retail store. Carolyn hopes her business can help build commerce and culture in the Pendleton community.

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