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Community-Driven Banks Merge

2/7/2018, 11:33 a.m.
Combining the financial strength and clout of two financial institutions is intended to boost banking services to low and moderate-income ...
A ribbon cutting ceremony marks the merger of two community-driven banks as the former Albina Community Bank becomes the newly named Beneficial State Bank branch on Northeast Martin Luther King Jr. Boulevard. Pictured are Randell Leach, president and chief operating officer of Beneficial State Bank, and Kat Taylor, the bank’s co-founder and chief executive officer,

Combining the financial strength and clout of two financial institutions is intended to boost banking services to low and moderate-income communities, and provide financing for renewable energy, affordable housing, and women and minority-owned businesses.

A ribbon cutting ceremony marked the merger of Albina Community Bank with Beneficial Sate Bank on Thursday. Leaders for the combined financial institution gathered to celebrate at the newly renamed Beneficial State Bank branch office on Northeast Martin Luther King Jr. Boulevard.

Attending the ceremony were Randell Leach, president and chief operating officer of Beneficial State Bank, and Kat Taylor, the bank’s co-founder and chief executive officer. Customers and local residents also joined the festivities.