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WWW.THESIUSLAWNEWS.COM
WEDNESDAY
B USINESS P ROFILE 2015
SERVING THE COMMUNITIES OF FLORENCE • DUNES CITY • WESTLAKE • MAPLETON • SWISSHOME • DEADWOOD • YACHATS AND ALL POINTS BETWEEN
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$1.00
A BANNER DAY
Museum
pays off
mortgage
Bequeathal also funds new roof
for Siuslaw Pioneer Museum
B Y J ACK D AVIS
PHOTO BY CHANTELLE MEYER/SIUSLAW NEWS
Siuslaw Bank completed the transition to Banner Bank on Monday, celebrating the change with punch and cake in the lobby.
B Y C HANTELLE M EYER
Siuslaw News
fter more than 50 years serving
Mapleton, Florence and Lane County,
Siuslaw Bank, formerly Siuslaw
Valley Bank, closed its doors Friday, March
6, and reopened Monday, March 9, as Banner
Bank.
Banner Bank announced the merger with
Siuslaw Bank in August 2014 when Banner
Corp., based in Walla Walla, Wash., pur-
chased Siuslaw Financial Group, the parent
company of Siuslaw Bank.
A
Siuslaw Valley Bank began on Jan. 17,
1964, in Mapleton. It was started by business-
men who wanted to bring a bank to
Mapleton, but decided to start their own.
The original board members were A. E.
“Pony” Ellingson, Steven Vaughn, Johan
Mehlum, Don Lee Davidson and William J.
Beck. Mehlum was the longtime CEO until
he stepped down on Jan. 17, 2013, 49 years
after the bank opened. Lonnie Iholts became
the next CEO. He joined the bank in 1971
after graduating from the University of
Oregon.
The Florence branch opened in 1968 and
He a l t h y HOME
G r o w i n g GARDEN
More than 2,000 peo-
ple attended the 19th
Annual Florence Home
and Garden Show last
weekend at Florence
Events Center.
Your
INSIDE
W E D N E S D AY
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Coast Life
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Police
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Weather
“The weather was spectacular
and the debate all weekend was
whether that was good or bad for
attendance,” said Jon Thompson,
Coast Radio owner and Home
and Garden Show organizer.
The show, presented by Coast
Radio and Siuslaw News, fea-
A8
C2
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C1
A2
became headquarters for the 10 locations in
Lane County.
Siuslaw Bank was the county’s oldest inde-
pendent community bank.
Community was and is an important part of
the bank. The original board members were
key members on other boards in Mapleton
and Florence and encouraged community
service and involvement.
Siuslaw Bank has created a corporate cul-
ture of student scholarships, sponsorships and
charitable giving.
See
F RIDAY
S ATURDAY
Rain
Rain
Rain
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Mostly
Cloudy
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MUSEUM 7A
B Y C HANTELLE M EYER
Siuslaw News
“It was a great mix of vendors,
products
and
services,”
Thompson said.
Inside, nearly 40 vendors, from
Aloha Environmental to Whiskey
Creek Organics, filled the facility.
See
Weather
T HURSDAY
See
19th Annual Florence
Home and Garden Show
a ‘tremendous’ success
tured outdoor exhibits from
Cedar Works Spas, Laurel Bay
Gardens and Gib’s RV that
caught guests’ attention. One
guest was even allowed to park
his vintage yellow station wagon
in front of a camper to be part of
Gib’s display.
T ODAY
BANK 7A
Thanks to the generosity of a loyal Siuslaw
Pioneer Museum supporter and volunteer, the muse-
um’s $180,000 mortgage has been paid off. Jean
Chapman stipulated that the museum would be the
beneficiary of her home, furnishings and vehicle
upon her death.
“We were all heartbroken when she died, but she
really did a great thing for the museum,” museum
board President Del Phelps said. “When we got
through probate, we held estate sales to take care of
the furnishings. After we sold the house, the muse-
um probably netted a total of $255,000.”
In addition to paying off the mortgage, the muse-
um was able to put on a badly needed new roof.
In 2005, the Siuslaw Pioneer Museum moved
from its former location along Highway 101, south
of Florence, to its current location in the old local
school building at 278 Maple St. The school was
built in 1905.
The museum purchased the school building for
$910,000. There was a stipulation to the loan that a
large portion of the mortgage needed to be guaran-
teed.
After selling the former museum building, the
mortgage balance was approximately $710,000.
“Western Lane Community Foundation gracious-
ly stepped up with a $200,000 pledge. That put us
down to $510,000,” Phelps said. “Then we set up a
consortium of Siuslaw Bank, Oregon Pacific Bank
and the Davidson/Crowell family. They loaned the
$510,000.”
In 2007, the museum set up a legacy program
with donors to retire the mortgage debt.
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Sports—C
SHOW 7A
PHOTOS BY CHANTELLE MEYER/SIUSLAW NEWS
Nearly 40 vendors filled the events center
last weekend for the annual show.
CYAN MAGENTA YELLOW BLACK
Siuslaw News