SOURCE: Capital Pacific Bank

February 27, 2007 12:00 ET

Allen Trust Company and Capital Pacific Bank Announce Exclusive Strategic Alliance

PORTLAND, OR -- (MARKET WIRE) -- February 27, 2007 -- Two local financial service companies have formed an exclusive strategic alliance offering banking, trust and investment management services to business owners, professionals and nonprofit organizations.

The alliance between Allen Trust Company and Capital Pacific Bank (OTCBB: CPFB) gives the two Portland-based companies the ability to offer clients a range of complementary financial services typically available only from large regional or national organizations.

"We've each been looking for a 'best in class' strategic partner with similar values, business philosophy and commitment to the local community," said Stuart B. Allen, president and CEO of Allen Trust. "Capital Pacific Bank's expertise and reputation for exceptional client service is a perfect fit for us."

Now in its fourth year of operation, Capital Pacific Bank has built a significant portfolio of clients representing small and mid-size businesses, professional service firms and nonprofit organizations. While offering the full line of banking products and services, Capital Pacific sought a strategic partner who could provide complementary expertise in investment management and trust services.

"We have business clients who are dealing with issues of succession planning and nonprofit organizations who need help managing their endowments. We're delighted to be able to refer these clients to Allen Trust Company, a Portland firm known for its expertise, integrity and exceptional service," said Capital Pacific's CEO, Mark Stevenson.

About Capital Pacific Bank

Capital Pacific Bank (OTCBB: CPFB) serves businesses, professionals and nonprofit organizations with comprehensive banking solutions and an elite level of service. Headquartered in the Fox Tower in downtown Portland, the bank's full array of products and services are delivered through a strategic combination of highly experienced client service officers and the innovative application of technology. Capital Pacific Bank reported total assets of over $113 million as of December 31, 2006. For more information, visit www.capitalpacificbank.com.

About Allen Trust Company

Founded in 2001 by Stuart B. Allen, Allen Trust Company is the only locally owned and operated trust company in Oregon. Allen also founded Allen Capital Management, a registered investment advisor. The two companies have combined assets under management of $100 million. Together, they provide personalized trust and comprehensive investment management services for individuals, families, and charitable organizations. The two share staff, location, and resources and have offices in downtown Portland and southwest Washington. For more information, visit www.allentrust.com.

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