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                                                                    EXHIBIT 10.1

                           2005 SPLIT DOLLAR AGREEMENT
                       COLUMBIA RIVER BANK-R. Shane Correa

      This Agreement (the "Agreement") is made and entered into effective the
5(th) day of January 2005, by and between COLUMBIA RIVER BANK, a state-chartered
commercial bank located in The Dalles, Oregon, (the "Bank"), and R. Shane Correa
(the "Executive"). This Agreement shall append the Split Dollar Endorsement
entered into on even date herewith, or as subsequently amended, by and between
the aforementioned parties.

                                    RECITALS

      WHEREAS, the Executive as an employee of the Bank, and the Executive's
experience and knowledge of the affairs of the Bank and the banking industry are
extensive and valuable;

      WHEREAS, to encourage the Executive to remain an employee of the Bank, the
Bank is willing to divide the death proceeds of a life insurance policy on the
Executive's life, and to pay such life insurance premiums from its general
assets;

      WHEREAS, it is deemed to be in the best interests of the Bank to provide
the Executive with a benefit, on the terms and conditions set forth hereto, in
order to reasonably induce the Executive to remain in the Bank's employment; and

      WHEREAS, the Executive and the Bank wish to specify in writing the terms
and conditions upon which this benefit will be provided to the Executive;

      NOW, THEREFORE, in consideration of the services to be performed by the
Executive in the future, as well as the mutual promises and covenants contained
herein, the Executive and the Bank agree as follows:

      Now, therefore, it is agreed:

SECTION 1 - Definitions

      1.1   The following terms use in the Agreement shall have the meanings
            specified:

      (i)   "Holding Company" shall mean Columbia Bancorp, the parent
            corporation of the Bank.

      (ii)  "Insured" means the Executive.

      (iii) "Insurer" means each life insurance carrier in which there is a
            Split Dollar Policy Endorsement attached to this Agreement.

      (iv)  "Death Proceeds" means the total death proceeds of the Policy.

      (v)   "Normal Retirement Age" means the Executive's 55th birthday.

      (vi)  "Policy" means the specific life insurance policy issued by the
            Insurer.

      (vii) "Termination of Employment" means the Executive ceasing to be
            employed by the Bank for any reason whatsoever, other than by reason
            of an approved leave of absence.

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SECTION 2 - Policy Ownership/Interests

      2.1 Bank Ownership. The Bank is and at all times shall be the sole owner
of the Policy and shall have the right to exercise all incidents of ownership.
The Bank shall be the beneficiary of the remaining death proceeds of the Policy
after the Interest of the Executive or the Executive's transferee has been paid
according to Section 2.2 below.

      2.2 Executive's Interest. The Executive shall have the right to designate
the beneficiary of $165,000 of the Death Proceeds. The Executive shall also have
the right to elect and change settlement options that way be permitted. However,
the Executive, the Executive's transferee or the Executive's beneficiary shall
have no rights or interests in the Policy with respect to that portion of the
death proceeds designated in this section 2.2 upon the Executive's Termination
of Employment prior to Normal Retirement Age.

      2.3 Option to Purchase. The Bank shall not sell, surrender or transfer
ownership of the Policy while this Agreement is in effect without first giving
the Executive or the Executive's transferee the option to purchase the Policy
for a period of 60 days from written notice of such intention. The purchase
price shall be an amount equal to the cash surrender value of the Policy. This
provision shall not impair the right of the Bank to terminate this Agreement.

      2.4 Comparable Coverage. Upon execution of this Agreement, the Bank shall
maintain the Policy in full force and effect and in no event shall the Bank
amend, terminate or otherwise abrogate the Executive's interest in the Policy,
unless the Bank replaces the Policy with a comparable insurance policy to cover
the benefit provided under this Agreement and executes a new Split Dollar Policy
Endorsement for said comparable insurance policy. The Policy or any comparable
policy shall be subject to the claims of the Bank's creditors.

SECTION 3 - Premiums

      3.1 Premium Payment. The Bank shall pay any premiums due on the Policy.

      3.2 Economic Benefit. The Bank shall determine the economic benefit
attributable to the Executive based on the amount of the current term rate for
the Executive's age multiplied by the aggregate death benefit payable to the
Executive's beneficiary. The "current term rate" is the minimum amount required
to be imputed under Revenue Rulings 64-328 and 66-110, or any subsequent
applicable authority.

      3.3 Imputed Income. The Bank shall impute the economic benefit to the
Executive on an annual basis.

SECTION 4 - Assignment

      The Executive may assign without consideration all of the Executive's
interests in the Policy and in this Agreement to any person, entity or trust. In
the event the Executive transfers all of the Executive's interest in the Policy,
then all of the Executive's interest in the Policy and in the Agreement shall be
vested in the Executive's transferee, who shall be substituted as a party
hereunder and the Executive shall have no further interest in the Policy or in
this Agreement.

SECTION 5-Insurer

      The insurer shall be bound only by the terms of the Policy. Any payments
the Insurer makes or actions it takes in accordance with the Policy shall fully
discharge it from all claims, suits and demands of all entities or persons. The
Insurer shall not be bound by or be deemed to have notice of the provisions of
this Agreement.

SECTION 6 - Claims and Review Procedures

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      6.1 Claims Procedure. A Participant or beneficiary ("claimant") who has
not received benefits under the Agreement that he or she believes should be paid
shall make a claim for such benefits as follows:

      (1) Initiation - Written Claim. The claimant initiates a claim by
submitting to the Bank a written claim for the benefits.

      (2) Timing of Bank Response. The Bank shall respond to such claimant
within 90 days after receiving the claim. If the Bank determines that special
circumstances require additional time for processing the claim, the Bank can
extend the response period by an additional 90 days by notifying the claimant in
writing, prior to the end of the initial 90-day period, that an additional
period is required. The notice of extension must set forth the special
circumstances and the date by which the Bank expects to render its decision.

      (3) Notice of Decision. If the Bank denies part or all of the claim, the
Bank shall notify the claimant in writing of such denial. The Bank shall write
the notification in a manner calculated to be understood by the claimant. The
notification shall set forth: (i) the specific reasons for the denial; (ii) a
reference to the specific provisions of the Agreement on which the denial is
based; (iii) a description of any additional information or material necessary
for the claimant to perfect the claim and an explanation of why it is needed;
(iv) an explanation of the Agreement's review procedures and the time limits
applicable to such procedures, and (v) a statement of the claimant's right to
bring a civil action under ERISA Section 502(a) following an adverse benefit
determination on review.

      6.2 Review Procedure. If the Bank denies part or all of the claim, the
claimant shall have the opportunity for a full and fair review by the Bank of
the denial, as fellows:

      (1) Initiation - Written Request. To initiate the review, the claimant,
within 60 days after receiving the Bank's notice of denial, must file with the
Bank a written request for review.

      (2) Additional Submissions - Information Access. The claimant shall then
have the opportunity to submit written comments, documents, records and other
information relating to the claim. The Bank shall also provide the claimant,
upon request and free of charge, reasonable access to, and copies of, all
documents, records and other information relevant (as defined in applicable
ERISA regulations) to the claimant's claim for benefits.

      (3) Considerations on Review. In considering the review, the Bank shall
take into account all materials and information the claimant submits relating to
the claim, without regard to whether such information was submitted or
considered in the initial benefit determination.

      (4) Timing of Bank Response. The Bank shall respond in writing to such
claimant within 60 days after receiving the request for review. If the Bank
determines that special circumstances require additional time for processing the
claim, the Bank can extend the response period by an additional 60 days by
notifying the claimant in writing, prior to the end of the initial 60-day
period, that an additional period is required. The notice of extension must set
forth the special circumstances and the date by which the Bank expects to render
its decision.

      (5) Notice of Decision. The Bank shall notify the claimant in writing of
its decision on review. The Bank shall write the notification in a manner
calculated to be understood by the claimant. The notification shall set forth:
(i) the specific reasons for the denial; (ii) a reference to the specific
provisions of the Agreement on which the denial is based; (iii) a statement that
the claimant is entitled to receive, upon request and free of charge, reasonable
access to, and copies of, all documents, records and other information relevant
(as defined in applicable ERISA regulations) to the claimant's claim for
benefits, and (iv) a statement of the claimant's right to bring a civil action
under ERISA Section 502(a).

Section 7 - Amendments and Termination

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      This Agreement may be amended or terminated only by a written agreement
signed by the Bank and the Executive. However, unless otherwise agreed to by the
Bank and the Executive, this Agreement will automatically terminate upon the
Executive's Termination of Employment prior to Normal Retirement Age.

Section 8 - Miscellaneous

      8.1 Binding Effect. This Agreement shall bind the Executive and the Bank
and their respective beneficiaries, survivors, executors, administrators and
transferees, and any Policy beneficiary.

      8.2 No Guarantee of Employment. This Agreement is not an employment policy
or contract. It does not give the Executive the right to remain an employee of
the Bank, nor does it interfere with the Bank's right to discharge the
Executive. It also does not require the Executive to remain an employee nor
interfere with the Executive's right to terminate employment at any time.

      8.3 Applicable Law. The laws of the State of Oregon, other than those laws
denominated choice of law rules, federal law in the case of preemption, and
where applicable, the rules and regulations of any regulatory agency or
governmental authority having jurisdiction over the Bank or the Holding Company,
shall govern the Validity, interpretation, construction and effect of this
Agreement.

      8.4 Reorganization. This Agreement shall be binding upon and inure to the
benefit of the Executive and the Bank. Accordingly, the Bank shall not merge or
consolidate into or with another corporation, or reorganize or sell
substantially all of its assets to another corporation, firm or person, unless
and until such succeeding or continuing corporation, firm or person agrees to
assume and discharge the obligations of the Bank under this Agreement. In the
alternative, the Holding Company may agree to assume and discharge the
obligation of the Bank under this Agreement. Upon the occurrence of such event,
the term "Bank" as used in this Agreement shall be deemed to refer to such
surviving or successor firm, person, entity or corporation, or the Holding
Company, as the case may be.

      8.5 Tax Withholding. The Bank shall withhold any taxes that are required
to be withheld from the benefits provided under this Agreement.

      8.6 Entire Agreement. This Agreement supersedes any and all other
agreements, either oral or in writing, between the parties with respect to the
subject matter of this Agreement and contains all of the covenants and
agreements between the parties with respect thereto. Each party to this
Agreement acknowledges that no other representations, inducements, promises, or
agreements, oral or otherwise, have been made by any party, or anyone acting on
behalf of any party, which are not set forth herein, and that no other
agreement, statement, or promise not contained in this Agreement shall be valid
or binding on either party. No rights are granted to the Executive by virtue of
this Agreement other than those specifically set forth herein.

      8.7 Administration. The Bank shall have powers which are necessary to
administer this Agreement, including but not limited to: (i) establishing and
revising the method of accounting for the Agreement; (ii) maintaining a record
of benefit payments; (iii) establishing rules and prescribing any forms
necessary or desirable to administer the Agreement; and (iv) interpreting the
provisions of the Agreement.

      8.8 Named Fiduciary. The Bank shall be the named fiduciary and plan
administrator under the Agreement. The named fiduciary may delegate to others
certain aspects of the management and operation responsibilities of the plan
including the employment of advisors and the delegation of ministerial duties to
qualified individuals.

      8.9 Paragraph Headings. The paragraph headings used in this Agreement are
for convenience only, and shall not affect or be used in connection with the
interpretation of this Agreement.

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      8.10 No Strict Construction. The language used in this Agreement shall be
deemed to be the language chosen by the parties hereto to express their mutual
intent, and no rule of strict construction will be applied against any person.

      8.10 Opportunity To Consult With Independent Advisors. The Executive
acknowledges that he or she has been afforded the opportunity to consult with
independent advisors of his choosing including, without limitation, accountants
or tax advisors and counsel regarding both the benefits granted to him under the
terms of this Agreement and the (i) terms and conditions which may affect the
Executive's right to these benefits and (ii) personal tax effects of such
benefits including, without limitation, the effects of any federal or state
taxes, Section 280G of the Code, and any other taxes, costs, expenses or
liabilities whatsoever related to such benefits, which in any of the foregoing
instances the Executive acknowledges and agrees shall be the sole responsibility
of the Executive notwithstanding any other term or provision of this Agreement.
The Executive further acknowledges and agrees that the Bank shall have no
liability whatsoever related to any such personal tax effects or other personal
costs, expenses, or liabilities applicable to the Executive and further
specifically waives any right for himself or herself, and his or her heirs,
beneficiaries, legal representatives, agents, successor and assign to claim or
assert liability on the part of the Bank related to the matters described above
in this Section 9.13. The Executive further acknowledges that he or she has
read, understands and consents to all of the terms and conditions of this
Agreement, and that he or she enters into this Agreement with a full
understanding of its terms and conditions.

      8.11 Arbitration of Disputes. All claims, disputes and other matters in
question arising out of or relating to this Agreement or the breach or
interpretation thereof, other than those matters which are to be determined by
the Bank in its sole and absolute discretion, shall be resolved by binding
arbitration before a representative member, selected by the mutual agreement of
the parties, of the Judicial Arbitration and Mediation Services, Inc. ("JAMS"),
located in Portland, Oregon. In the event JAMS is unable or unwilling to conduct
the arbitration provided for under the terms of this Paragraph, or has
discontinued its business, the parties agree that a  representative member,
selected by the mutual agreement of the parties of the American Arbitration
Association ("AAA") located in Portland, Oregon, shall conduct the binding
arbitration referred to in this Paragraph. Notice of the demand for arbitration
shall be filed in writing with the other party to this Agreement and with JAMS
(or AAA, if necessary). In no event shall the demand for arbitration be made
after the date when institution of legal or equitable proceedings based on such
claim, dispute or other matter in question would be barred by the applicable
statute of limitations. The arbitration shall be subject to such rules of
procedure used or established by JAMS; or if there are none, the rules of
procedure used or established by AAA. Any award rendered by JAMS or AAA shall be
final and binding upon the parties, and as applicable, their respective heirs,
beneficiaries, legal representatives, agents, successors and assigns, and may be
entered in any court having jurisdiction thereof. Any arbitration hereunder
shall be conducted in The Dalles, Oregon, unless otherwise agreed to by the
parties.

      8.12 Attorneys' Fees. In the event of any arbitration or litigation
concerning any controversy, claim or dispute between the parties hereto, arising
out of or relating to this Agreement or the breach hereof, or the interpretation
hereof, the prevailing party shall be entitled to recover from the losing party
reasonable expenses, attorneys' fees and costs incurred in connection therewith
or in the enforcement or collection of any judgment or award rendered therein.
The "prevailing party" means the party determined by the arbitrator(s) or court,
as the case may be, to have most nearly prevailed, even if such party did not
prevail in all matters, rot necessarily the one in whose favor a judgment is
rendered.

      8.13 Notice. Any notice required or permitted of either the Executive or
the Bank under this Agreement shall be deemed to have been duly given, if by
personal delivery, upon the date received by the party or its authorized
representative; if by facsimile, upon transmission to a telephone number
previously provided by the party to whom the facsimile is transmitted as
reflected in the records of the party transmitting the facsimile and upon
reasonable confirmation of such transmission; and if by mail, on the third day
after mailing via U.S. first class mail, registered or certified, postage
prepaid and return receipt requested, and addressed to the party at the address
given below for the receipt of notices, or such changed address as may be
requested in writing by a party.

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          If to the Bank:                 Columbia River Bank
                                          420 East Third Street
                                          The Dalles, Oregon 97058

          If to the Executive:            c/o Colombia River Bank
                                          PO Box 1050
                                          The Dalles, Oregon 97058

      8.14. Nonwaiver. The failure of either party to enforce at any time or for
any period of time any one or more of the terms or conditions of this Agreement
shall not be a waiver of such term(s) or condition(s) or of that party's right
thereafter to enforce each and every term and condition of this Agreement.

      8.15 Partial Invalidity. If any terms, provision, covenant, or condition
of this Agreement is determined by an arbitrator or a court, as the case may be,
to be invalid, void, or unenforceable, such determination shall not render any
other term, provision, covenant or condition invalid, void or unenforceable, and
the Agreement shall remain in full force and effect notwithstanding such partial
invalidity.

      8.16 Modifications. Any modification of this Agreement shall be effective
only if it is in writing and signed by each party or such party's authorized
representative.

      IN WITNESS WHEREOF, the parties have executed this Agreement the day and
year first above written.

EXECUTIVE'                                        COLUMBIA RIVER BANK

_____________________________                     By ___________________________

                                                  Title ________________________

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