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November 10, 2020
People's Bank of Commerce and Willamette Community Bank, headquartered in Albany, Oregon, announced the signing of an agreement whereby Willamette Community Bank will merge with People's Bank of Commerce. The combined company will operate nine branches in Southern Oregon and Willamette Valley markets. The boards of People's Bank of Commerce and Willamette Community Bank unanimously approved the transaction, which is subject to approval by shareholders and regulatory approval. The transaction is expected to close in the first quarter of 2021. Upon closing, Joan Reukauf will serve as area president and executive vice president, chief operating officer of People's Bank of Commerce. Willamette Community Bank's three branches will continue to operate under the name Willamette Community Bank, a division of People's Bank of Commerce. People's Bank of Commerce is headquartered in Medford, Oregon.