THE — VALLEY — —
People's Bank reports $52,000 quarterly profit
People's Bank of Commerce made $52,000 during the first quarter of 2000, the young community bank's fourth straight quarter of profitability.
The Medford-based bank, founded in March 1998, lost $35,000 in the first quarter of 1999, but made $31,440 in the second quarter of that year.
The profit breaks down to 9 cents a share. As of March 31, the bank's assets had grown to $33.1 million, its loans to $24.2 million and its deposits to $27.2 million -- all substantial year-over-year increases.
State Farm raises rates on homeowners
State Farm has raised its homeowners insurance rates 2.9 percent for Oregon customers, the insurance company announced Monday.
The increase, the company's first in Oregon in two years, took effect April — for new customers and takes effect May 15 for current policyholders. Rate changes for individual customers will vary, so policyholders are encouraged to check with their agents.
State Farm Fire and Casualty Company has more than 210,000 policies in Oregon and bills itself as the state's leading insurer of homes, apartments and condominiums.