T H E M O N T H LY B U S I N E S S S E C T I O N F O R L I N N A N D B E N T O N C O U N T I E S A N D T H E M I D - W I L L A M E T T E VA L L E Y
www.democratherald.com/business • www.gazettetimes.com/business
March 2012
The paper mill and pulp production plants of Georgia Pacific and Pope and Talbot work alongside each other in Halsey. The paper mills are among a variety of business clusters in Linn County. MARK YLEN | MID-VALLEY INBUSINESS
What are we known for? Key business clusters shape our communities’ ‘Made in the Mid-Valley’ image By NANCY RASKAUSKAS
Y
ou may have heard or read that back in 2010, a scholarly journal article named Corvallis the nation’s “most innovative city,” due in large part for its high number of patents per capita. And, you’ve probably seen signs or heard it proudly proclaimed in Albany, Tangent or Lebanon that Linn County is the “Grass Seed Capital of the World.” These are just a few of the mid-valley’s many bragging rights, made possible by the intersection of likeminded businesses large and small, co-existing in close proximity, creating synergies through shared resources and work forces. But, on a regional and global level, what are our midvalley communities really known for? A series of interviews with local experts suggests that the answers are far more complex and less self-contained than that notion of “inventors on one side of the river, farmers on the other.”
Grown in Linn While discussing the most important business clusters in the Albany area, WorkSource Oregon’s Central Willamette Valley Regional Economist Pat O’Connor said “There’s no question that you’d have to put the metals manufacturing at the top of the list with ATI and SelMet. It’s a long-term industry that started with the bureau of mines located here in the 1940s, and unique in terms of the specialty metals that they make.” Those metals include titanium, zirconium, niobium and hafnium. This cluster of businesses, which includes ATI Wah Chang and Pacific Cast, is one of the areas’ largest employers, O’Connor added. For the rest of Linn County, O’Connor cites paper manufacturing (with the two mills near Halsey as a significant cluster, as well as timber and wood products, frozen food processing (National Frozen Foods and Oregon Freeze Dry) and manufactured homes (Golden West Homes), with several distinctive technology firms (such as ENTEK and EnerG2), grass seed (OreGro, Pennington Seed, Barenbrug, and others), and general agriculture not to be counted out of the mix. The structure of the timber industry has changed greatly in the past half century, but O’Connor said that he’s confident that one thing will remain constant: “We will still be harvesting trees in east Linn County. ... It will continue to be an important part of our economy.” But there’s an important caveat: The number of jobs provided by this sector of the economy may well continue to drop, referencing the retooling of local mills that slashed the necessary number of workers from about 200 to 50 to produce the same amount of board feet. Thanks to the climate, geography and soils, Linn County is a hot spot for growing cool weather grasses. While the mid-valley’s world-renowned reputation is
ANDY CRIPE | MID-VALLEY INBUSINESS
Travis Hise, left, and Heidi Eveland decorate the windows at SunWize at the intersection of 14th and Main streets in Philomath. SunWize is among the mid-valley businesses in the renewable energy sector. not in imminent danger, this capital-intensive industry has been hit hard since the housing downturn, O’Connor said, with less demand coming from new housing projects and golf courses. “That’s why you’ve seen some of the grass seed farmers switch to wheat recently,” he added. Most recently, Linn County has seen the addition of distribution centers for Target and Lowe’s to its business landscape. O’Connor attributes this to Linn County’s relatively affordable real estate paired with easy access on and off of Interstate 5. It’s an attractive combination. “I wouldn’t be surprised to see more companies locate distribution centers in the area,” O’Connor said.
Green innovations In Benton County, Marcy Eastham, executive director of the Corvallis Chamber of Commerce, sees agriculture and technology as the top two areas in which local businesses have created beneficial synergies and growth. And one thing that Corvallis-area businesses do particularly well in both those spheres is sustainable or “green” development of practices and products, she added. “We have some pretty innovative companies,” Eastham said. For instance, Earthfort, a small-scale local company located off Western Boulevard near downtown Corvallis, helps international clients mitigate soil problems while reducing the use of fertilizers. “That’s an example of an ag business that a lot of people don’t know about,” Eastham said. While there are local giants in agriculture and forestry
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in the area such as Stahlbush Island Farms (technically in Linn County, but closer to Corvallis), and Starker Forests, there are also plenty of smaller farms and food producers using similar organic or sustainable philosophies in Corvallis’ “burgeoning and quickly growing food industry,” Eastham said. Those range from farms such as Denison’s, Sunbow and Afton Field, “All the way down to someone making flavored nuts in their kitchen and selling them over the Internet.” Another example of the many local businesses producing green products is EcNow Tech on the corner of First Street and Van Buren Avenue, Eastham said. EcNow manufactures biodegradable take out containers, cutlery, plates and bags. The list of companies making a name for themselves in renewable power and sustainable products is a long and varied one and includes: • Perpetua Power Technologies, which makes a line of energy-harvesting devices that, use exotic alloys to generate small amounts of electrical current from minor temperature fluctuations. Applications range from remote sensors and industrial process controls to medical monitors and wearable locator beacons. • NuScale Power, a company that aims to produce smaller, scalable and more economical nuclear-power reactors. • ZAPS, a company responsible for new optical detection technology it believes will revolutionize the way water is monitored for safety and pollutants dubbed the “LiquID.” • Columbia Power Technologies, a local business trying to make a splash in the growing field of renewable energy with power generating buoys that were developed in partnership with Oregon State University’s O.H. Hinsdale Wave Research Lab. • Trillium Fiber Fuels, a company that has been working to make cellulosic ethanol (a biofuel) from residual plant material. • Metzger Green Build, a construction company that has worked extensively with recycled and reclaimed materials.
Micro work, big success Individual business successes rise and fall within clusters. A well-known story in Corvallis is the long term decline in Hewlett-Packard’s local work force (best estimates say it’s been cut from more than 6,000 to less than 2,000 since the end of the 1990s). But, the technology firm still is a significant shaping force in the community. It’s still the third largest employer. “HP is down, but still hiring,” Eastham said.“And (the company) is making tremendous use of its campus,” she said, referring to the leasing of former HP building space to SEE BUSINESS CLUSTERS | A6
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MID-VALLEY InBusiness
March 2012
B US I N ES S P R O F I L E
ANDY CRIPE | MID-VALLEY INBUSINESS
The Hewlett-Packard campus in Corvallis is seen in February. HP rents space on its campus to businesses such as CH2M Hill and ONAMI.
Business clusters Continued from page A5
down to 3,290 jobs. “For some communities that could be almost fatal. If you want to look at it as glass half full, you could say Corvallis has done really well to maintain jobs,” he said. “The university looms so large over the Corvallis community, as does Hewlett-Packard,” O’Connor said. “A lot of your spin offs were from former HP employees … at ONAMI – a lot of that microtechnology came out of HP.” In addition, the college town vibe provided by Oregon State University, and to an extent Linn-Benton Community College, creates demand for a secondary level of business clusters ranging from coffee shops to bike shops, breweries and wineries, organic groceries, clothing and house ware retailers, and independent artists and creatives. “This is a very rich community, and I don’t mean financially. This is a very rich community from a cultural perspective. It’s very balanced,” Eastham said. O’Connor agreed that these subclusters are a vibrant and part of community identity, but maintained that they are “just a byproduct of a college town” and said that the influx of student money and related tourism has not been particularly welltracked in terms of data. “It’s one thing that certainly has helped Benton County through this (recent recession). We continue to have low unemployment rates. It really hasn’t been the large private publictraded businesses. Average wage in Benton County for manufacturing is nearly $80,000 a year, but that’s not where the growth is coming, nor the stability.” The second largest employer in the area, Samaritan Health Services, also serves as an increasingly important force for stability in the local economy. The past few years have seen growth in its facilities and work force throughout Corvallis, Albany and Lebanon. In addition, Lebanon has landed two major projects in regards to health care, which will shape the East Linn job market for years to come. The College of Osteopathic Medicine of the Pacific Northwest (known as COMP-Northwest) is the newest medical school in Oregon and welcomed the first class in July 2011; next to open will be Patriot’s Place, a 150-bed home in Lebanon to offer long-term The university effect care, as well as rehabilitaOregon State University tion services and gives Benton County’s economy some stability, but Alzheimer’s and dementia care. The Oregon Departit comes at a price. ment of Veterans Affairs is in “Corvallis is not the most diverse economy that the planning and construcyou have: with all the things tion phase of the project. that come as the result of having the university there, plus that HP presence,” O’Connor said. “OSU provides the county with a huge amount of stability for your private sector folks (whether it’s wineries, coffee shops or grocery stores). This recession has proven once again how much of a stabilizing factor the university is, and increased enrollment is only adding to that,” O’Connor said. Benton County has lost more than 5,500 jobs in manufacturing sector during the past 15 years, O’Connor noted. The number of manufacturing jobs in Benton County at the peak of employment in 1997 was 9,020. The Oregon Employment Department’s preliminary numbers for 2011 have that number Corvallis’ homegrown international engineering firm CH2M Hill, and to a cluster of microtechnology startups within the Oregon Nanoscience and Microtechnologies Institute (ONAMI) and Oregon Built Environment & Sustainable Technologies laboratories (Oregon BEST). ONAMI and its partners — such as OSU’s Microproducts Breakthrough Institute — have nurtured a number of startups at their Corvallis labs. One of those, Home Dialysis Plus, is believed to have set a record for Oregon companies when it landed $50 million in early-stage investment funding. Home Dialysis Plus has applied innovations in microfluidics to develop a dialysis system that allows patients the ability to experience treatment in their homes. Another Corvallis venture, (not located on the HP campus, but directly across Circle Boulevard), Korvis Automation Inc. uses rapid prototyping equipment to produce three-dimensional paper, plastic, wax, ceramic or metal prototypes or patterns that fall under the heading of microtechnology, operating within tolerances measured in microns, or millionths of a meter. “I think the nanotechnology is what’s on the cutting edge in this town,” Eastham said. “Corvallis is very uniquely positioned to pull the state out of the recession because of the brain trust that we have here for the tech industry – ONAMI, NuScale. Then of course, you look at companies like Perpetua Power. Those are the companies that you really want to keep here. It’s really about taking advantage of the resources that we have in Corvallis.” “Maybe it’s that whole entrepreneur-innovative thing. Not so much a cluster as an attitude,” she said. And, of course, innovation and technology startups aren’t limited to Corvallis. You’ll find equally innovative things happening in Albany and Lebanon. For instance, Oregon Freeze Dry in Albany worked with EnerG2 from Seattle to help with a project that will create energy storage devices for electric cars. The device will capture energy otherwise lost from the action of stepping on the gas. Now EnerG2 is building a new production space in Albany and hiring workers.
JESSE SKOUBO | MID-VALLEY INBUSINESS
Mike’s Heating and Air Conditioning owner Mike Sykes discusses some keys to success in his Albany office Friday afternoon. Sykes believes in maintaining community engagement through his business.
Never-quit attitude Mike’s Heating and Air Conditioning owners believe in persistence, community support By MIKE McINALLY n the walls of Mike Sykes’ office at Mike’s Heating and Air Conditioning in Albany are mementos of his time spent in the Marine Corps. And Sykes said that the lessons learned in the military have helped shape his business, which was recently honored as Small Business of the Year at the Albany Area Chamber of Commerce’s Distinguished Service Awards banquet. “You can’t quit,” Sykes said of a key military lesson that’s stayed with him in the world of business. “I’m learning this more and more as I get older. You don’t give up. There’s always a way to overcome.” Sykes,56,who runs the business with his wife,Josie,was honored in part for the many contributions the business makes to Albany.Sykes has worked,to list just a few examples,on the capital campaign for SafeHaven Humane Society and also has been involved with the YMCA and the Boys & Girls Club of Albany.Mike’s Heating has donated heating systems to Albany schools and also donated sweatshirts to
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KEYS TO SUCCESS Here are keys to success from Mike Sykes of Mike’s Heating and Air Conditioning in Albany: • “Never give up … Overcome. You can’t quit. … There’s always a way to overcome.” • Be faithful to the communities you serve.“That’s part of what we have to do in the community.” • “Even if you know you’re not wrong, if the customer says you’re wrong, you’re wrong.” • Treat people with kindness and respect, regardless of whether they’re customers or coworkers. • Here’s a simple rule to make sure you’re treating people well: If you run into them in the grocery store, are you going to be able to strike up a conversation – or are you going to duck into the next aisle to avoid them?
students during repairs on the heating system at Jefferson Elementary School. To Sykes, that kind of community engagement is an extension of the Marine Corps’ motto, “Semper Fidelis” – always faithful – and in this case, it’s a notion of service to your community. “I don’t do it because of the recognition,” he said. “I do it be-
cause it needs to be done.” “You’re getting your support from the community,” he said. “Why can’t you give something back?” Sykes grew up in the mid-valley, where his father ran a heating and air-conditioning business. After his time in the Marines, he went to work in the mid-1980s for a similar company in Corvallis. One day, as Sykes recalled, “I had an argument with my boss.” And that, he said, was the impetus to open his own business. Today, Mike’s Heating and Air Conditioning employs 16 workers, and the business has become more technically complex over the years – the systems he sells today all use some kind of computer-based or solid-state control system. And, he said, government regulations add yet another layer of complexity. Still, though, it all comes down to a notion of faithfulness – and that idea extends not just to the community, but to customers and coworkers as well. “It’s how you treat people,” he said. … “I believe you have to take care of the people who are here, treat them with respect.”
DAT E B O O K Tuesday through Thursday: Linn-Benton Community College tractor and farm machinery safety training.Time: 8:30 a.m. to 4:50 p.m., LBCC, 6500 Pacific Blvd. S.W.,Albany.Training held during spring break to accommodate farm workers aged 14-18. Cost: $76.50 plus $20 lab fee (noncredit course). Info: 541-917-4840 or www.linnbenton.edu/go/ Tractor-safety. Thursday: Albany Kiwanis Club Luncheon “All About Celiac Disease & Why Gluten Free Diets Are A Must”. Speaker: Nadine Grzeskowiak, CEO and founder of RN On Call, Inc. of Corvallis. Time: Noon, Pop’s Branding Iron Restaurant, 901 Pacific Blvd. S.E., Albany. Info: 541-223-1247. Friday: Lebanon Area Chamber of Commerce forum lunch. Speaker: Dr. Greg Hamman, president Linn-Benton Community College. Time: 11:30 a.m. to 1 p.m., Samaritan Lebanon Community Hospital, 525 N. Santiam Highway, Lebanon. Cost: $13. Info: 541-258-7164. Saturday: Downtown Corvallis Spring Cleanup, 8:30 a.m. to noon; meet at Howland Plaza,
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First Street and Madison Avenue. Volunteers are needed to help pull weeds, pick up trash, and maintain tree wells and curbs. RSVP: 541-754-6624 or joan@downtowncorvallis.org. April 3: 11th annual Ag Appreciation Breakfast: “Eggs and Issues”. Speaker: Bill Boggess, professor and executive associate dean of the College of Agricultural Services, Oregon State University. Time: 7 to 9 a.m., Linn County Fair & Expo Willamette Events Center, 3700 Knox Butte Road, Albany. Cost: $7.50. Info: 541926-1517. April 10: Lebanon Chamber of Commerce Women In Business Luncheon: “Service Learning at Western University of Health Science COMP-NW”. Speaker: Louise Muscato, Ph.D, assistant dean of medical education, COMP-NW. Time: noon, Bing’s Kitchen, 2416 S. Santiam High-
way, Lebanon. Cost: $12. Info: 541-258-7164. April 11: Linn-Benton Community College Career Fair. Time: 10 a.m. to 2 p.m., LBCC, Activities Center Gym, 6500 Pacific Blvd. S.W., Albany. Free to public. Info: Carla Raymond, 541-917-4788 or carla.raymond@linnbenton.edu. April 12: City of Albany Emer-
gency Management presentation: “A Quake Up Call”. Speaker: James Roddey, director of communications, Oregon Regional Chapter of the American Red Cross. Time: 2 to 4 p.m., Central Willamette Community Credit Union, 7101 Supra Drive N.W., Albany. Free to the public. Info: Sadie Bernt, 541-704-2332.
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B US I N ES S DATA Dec. 2011
Jan. 2011
Jan. 2012
9.9
11.1 10.9 9.0 8.8 6.9
U.S.
6.0 5.9
Benton Co.
Oregon
Thousands
12.6 9.1 8.5 8.3
Linn Co.
Source: Oregon Employment Department Note: Data are seasonally adjusted.
325 300 275 250 225 200 175 150 125
Units sold past year
Feb. 2012
420 118 17 488
Units sold past year
Feb. 2011
478 128 23 471
Average sales prices
Feb. 2012
153,764 225,437 147,517 273,482
234,797 Benton County Linn County
191,847
Feb. 2011
136,047
2008
2009
2010
2011
2012
Source: Willamette Valley Multiple Listing Service
Average sales price
156,659 244,376 161,145 276,488
News & Notes
299,687
Mid-Valley Residential Report
Albany N. Albany Brownsville Corvallis
MOVERS&SHAKERS
Residential Average Sales Price by Area
Unemployment Rate 16% 14% 12% 10% 8% 6% 4% 2% 0
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Independence Jefferson Lebanon Philomath Sweet Home
Units sold past year
Units sold past year
Average sales prices
Average sales price
Feb. 2012
Feb. 2011
Feb. 2012
Feb. 2011
60 52 308 73 132
55 49 291 81 123
152,817 201,853 131,023 242,715 123,862
212,228 197,732 151,770 239,274 117,112
Source: Willamette Valley Multiple Listing Service
Corvallis MSA (Benton County) Nonfarm Payroll Employment Source: Oregon Employment Department
Jan. ’12 1,100 3,210 4,310 780 1,370 3,610 5,680 3,050 1,170 550 9,910 2,760
Natural resources, mining and construction Manufacturing Trade, transportation and utilities Information Financial activities Professional and business services Educational and health services Leisure and hospitality Other services Federal government State government Local government Total nonfarm payroll employment
Dec. ’11 1,180 3,220 4,400 780 1,360 3,660 5,650 3,060 1,170 560 10,190 2,800
Jan. ’11 1,080 3,290 4,330 810 1,360 3,660 5,680 3,400 1,190 570 9,610 2,850
Change from Dec. ’11 Jan. ’11 -80 20 -10 -80 -90 -20 0 -30 10 10 -50 -50 30 0 -10 -350 0 -20 -10 -20 -280 300 -40 -90
37,500
38,030
37,830
-530
-330
Jan. ’12
Dec. ’11
Jan. ’11
1,970 6,480 8,220 360 1,240 2,950 4,880 2,990 1,290 320 1,190 5,750
2,150 6,620 8,590 360 1,250 3,020 4,890 3,020 1,290 330 1,200 5,890
1,980 6,500 8,320 380 1,210 2,920 4,820 2,960 1,300 340 1,220 6,250
-180 -140 -370 0 -10 -70 -10 -30 0 -10 -10 -140
-10 -20 -100 -20 30 30 60 30 -10 -20 -30 -500
37,640
38,610
38,200
-970
-560
Linn County Nonfarm Payroll Employment Source: Oregon Employment Department Natural resources, mining and construction Manufacturing Trade, transportation and utilities Information Financial activities Professional and business services Educational and health services Leisure and hospitality Other services Federal government State government Local government Total nonfarm payroll employment
Change from Dec. ’11 Jan. ’11
U O I N D E X O F EC O N O M I C I N D I CATO RS The numbers: The University of Oregon Index of Economic Indicators gained 0.1 percent in January to 89.6 (1997=100), a slight increase. The good news: Consumer sentiment continued to rebound, according to the report’s author, Timothy Duy of the University of Oregon Department of Economics. And residential building permits were at their highest level (766) in the past six months. The bad news: Initial unemployment claims rose sharply, but Duy said this appears to be a spike in the data that will be reversed in February. Core-manufacturing orders dropped sharply, and Duy said that potentially signaled the importance of business-tax credits in sup-
Index, 1997 = 100 92 91 90 89 88 87 86 Aug-11
Sept.-11
Oct.-11
Nov.-11
Dec.-11
Jan-12
porting investment activity at the end of last year.
prices could sap some strength from that growth.
The upshot: Duy said the numbers suggest continued growth in 2012 – but added that recent increases in oil
Another view: Duy’s newer index, the Oregon Measure of Economic Activity, which averages three months of eco-
nomic data, rose from minus 0.45 to plus 0.06 in January. (A measure of zero corresponds to the average growth rate for the period, in this case from 1990-2011. A number above zero indicates that the economy is growing at an above-average rate.) Manufacturing and service sectors continue to contribute to the measure, Duy said, but the low level of building permits relative to the past continues to be a drag. And, he said, most of the components in the household sector remain weak. The three-month moving average stands at minus 0.47. To learn more: Check out the full report at the website http://pages.uoregon.edu/ oefweb/
University, and a law degree Growing Oaks Center, a child from Tulane care center of the Corvallis Com- University Law munity Children’s Centers, is School in New moving from its current location Orleans, La. Priat 3731 S.W. Jefferson Way to new or to law quarters at Westside Community school, she was Church, 4000 S.W. Western Blvd. the chief counGilmoreGrowing Oaks will begin to optry representaRobinson erate at the new location starting tive for the April 2, and will have a new phone Philippinesnumber: 541-207-3122. based arm of the CityBridge There are a few immediate open- Foundation, a Washington, D.C.ings at Growing Oaks,and more at based child advocacy foundathe two other CCCC centers,Lantion that launches and provides caster and Monroe.Enrollment for ongoing support to child abuse summer and fall at CCCC is also assessment centers in the open.For more information,call Philippines. 541-752-1274 or check CCCC’s webFormer executive director site,www.corvallischildcare.org. Karen Scheler will continue work❑ ing on special projects for ABC U-Craft-It Frame Shop in Cor- House until she retires in June. vallis marked 30 years of busiTake a Bow ness in February. The shop, which has always Dave Pautsch of Albany’s been at Southwest Third Street RE/MAX Integrity, 2910 S.E. and Twin Oaks Circle, is celebrat- Santiam Highway, has earned the ing the anniversary with a twoOwnAmerica Inweek sale starting Tuesday. vestment CertiOwner Sherrie Horning and fication and is full-time employee Craig Purdy, now a member a graduate of the American Acad- of the Owemy of Arts, will frame any piece nAmerica Netof art, family heirloom or any oth- work, a national er object, or will help customers affiliation of real select products so they can do estate investthe framing themselves. ment specialPautsch The shop can be reached at ists. The certifi541-754-6200. cation allows Pautsch to offer new analysis People on the Move tools, tutorials and a video trainChad Ferschweiler recently pur- ing series to clients. chased the Pita Pit, 1425 N.W.MonHe has access in OwnAmeriroe Ave.in Corvallis,after working ca’s Investor Center which as manager for the past five years. streamlines the investment The restaurant,which serves a process. OwnAmerica and the Invariety of sandwiches on pita vestor Center were created by bread,is open from 10:30 a.m.mid- Greg Rand, a 20-year real estate night Sundays though Wednesindustry veteran. It includes a days,and 10:30 a.m.to 3 p.m. video based investment training Thursdays through Saturdays. course, news and information, and the Case Study Calculator, a ❑ tool for analyzing the potential of Pete Perrine has joined investment real estate. Willamette Valley Bank as a senior vice president and commer❑ cial loan officer. He will work in Samaritan Health Physithe downtown Salem office. cians has announced that Mara ❑ McManus will be its new project Tara Williams of Albany, a 17manager. In her year juvenile corrections veteran, new role, Mchas been named acting field suManus will lead pervisor for Oregon Youth Auquality imthority field offices in Benton, provement projLinn, Lincoln, Polk and Yamhill ects for Samaricounties. tan Health SerWorking out of the Albany ofvices primary fice, she supervises seven juvecare clinics. Mcnile probation and parole offiManus has McManus cers, a probation and parole asbeen with sistant, and support staff. Samaritan since 2006, most re❑ cently serving as the manager of Samaritan Pediatrics in CorThe Board of Directors of ABC vallis. She is a graduate of both House in Albany recently welcomed Jennifer Gilmore-Robin- the University of Pittsburgh and son as the new executive director. the université de Provence, located in Aix-en-Provence, in the Gilmore-Robinson received a south of France. bachelor’s degree from Duke
Willamette Community Bank makes stock offering MID-VALLEY INBUSINESS The board of directors of Willamette Community Bank has announced a public stock offering of up to $3 million to existing shareholders and new investors. A total of 461,538 shares of common stock at a price of $6.50 per share is available. The offering expires on March 31, 2012 for existing shareholders and on May 31, 2012 for new investors. The Albany bank is an independent, community bank first chartered in May 2003. Gray Medlin of Monroe Securities, Inc. is working with the bank’s manage-
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ment and board to manage the process. Interested investors should obtain a copy of the offering circular and are advised to read it carefully before subscribing for any bank common stock. Copies of the offering circular can be obtained from Dave Wood, president and CEO of Willamette Community Bank, 333 Lyon St. S.E.,Albany,OR 97321. Wood can also be reached at 541-971-4321 or by email at dwood@willamettecom munitybank.com. The common stock being sold by the bank is neither insured nor approved by the FDIC.