Albina Community Bank Merges to Become Beneficial State Bank

Portland Business Journal
Monday, December 18, 2017

All Albina Community Bank branches are set to convert to Beneficial State Bank branches on February 1, 2018, after the two banks announced regulatory approval of their merger this week. Beneficial State, headquartered in Oakland, California, has owned a majority share of Albina in 2013, which it acquired in an effort to help stabilize the Portland-based bank after a period of industry turbulence. Three Albina members will join the Beneficial State board.