Kitsap Peninsula Business Journal Article - News, Business, Homes, Politics, Automotive, Reviews, Bremerton, Silverdale, Poulsbo, Gig Harbor, Port Orchard, Bainbridge

06-30-2000

A roundup of the Kitsap County
banking community
By Steve Littfin

   Kitsap County no has shortage of places to put your money, borrow money or invest your money. Here is a roundup of Kitsap County’s banking community and a brief sketch of what each offers.
   American Marine Bank (206) 842-5651, is headquartered at 255 Winslow Way on Bainbridge Island. Rex Townsend has been president and CEO since 1998. Originally chartered in 1948 by Louis H. Goller, AMB has two offices on Bainbridge Island, and branches in Poulsbo, Port Ludlow and Seattle. AMB Financial Services Corporation, AMB’s parent organization formed in 1997, acquired Silverdale State Bank in April of this year.
   Bank of America operates seven branches throughout Kitsap County and was originally known as Seafirst Bank. The branches are located in Bremerton, Silverdale, Port Orchard, Bainbridge Island and Poulsbo. Several of the branches were originally purchased from American Marine Bank in 1989. Bank of America offers both commercial and consumer banking services. The Port Orchard branch has a full service currency exchange service, and is one of only a handful of area banks to offer Canadian draft services. The Port Orchard branch is managed by Bill Wallace, (360) 876-4471.

Columbia Bank’s
Rob Putas

   Columbia Bank’s Kitsap branch is located in Port Orchard at the intersection of Hwy. 16 and Sedgwick Road and is managed by Rob Putas, 876-8384. His assistant is Lynda Neshem. President and CEO is Melanie Dressel. Columbia has 28 branches. There is one branch in Olympia and one in Kitsap County. The remaining branches are in Pierce County.
   Interwest Bank, headquartered in Oak Harbor has 40 branches, although only two are in Kitsap County — in Silverdale and Poulsbo. It also owns Pacific Northwest Bank which has locations in Port Orchard and East Bremerton. Interwest Bank specializes in consumer and business banking. Patrick M. Fahey was recently named president and CEO. Interwest recently converted from a savings institution to a commercial bank.
   Key Bank’s Port Orchard branch is managed by Kim Kerlee, 876-8004. Robert Gillespie is the president, and Keycorp is Key Bank’s Cleveland-based parent organization. Key Bank has four locations in Kitsap County: one each in Port Orchard and Silverdale and two in Bremerton. There are currently no plans for expansion. Kerlee describes Key Bank as a full service commercial bank.

Kitsap Bank president Jim Carmichael

Kitsap Bank, Kitsap’s oldest and largest community bank with 19 local branches. Originally chartered in 1908 and headquartered in Port Orchard, (360) 876-7800. Jim Carmichael is President. It also operates as Olympic Bank in Port Townsend, Sequim, Port Angeles, Bonney Lake and Federal Way and has a mortgage lending subsidiary, Kitsap Mortgage. Kitsap Bank also has a nationally recognized and award winning SBA Dept. which is one of the largest and most active in the nation.
Kitsap Community Federal Credit Union began as the Navy Yard Metal Trades Credit Union until expanding to become a full-service credit union. KCFCU is headquartered in Bremerton and operates branches in Port Orchard, Bremerton, Bainbridge Island, Bangor Keyport, Poulsbo, PSNS, Silverdale, and at the Fred Meyer in Silverdale. Earlene Fantz is the senior vice president and Chief Operations Manager. The general information number is (360) 478-2200.

Mike Clementz, North Sound Bank president

   North Sound Bank, (360) 779-4800, was founded in Poulsbo in 1980 by Mike Clementz. Since then it has established branches in Silverdale, Port Townsend, Port Hadlock, Sequim, Port Angeles, and Bainbridge Island. Local managers have a significant degree of lending authority. A recent merger with InterWest was called off, but a merger with Frontier Bank is currently in the works.
   Peninsula Federal Credit Union is based in Shelton and services all five counties on the peninsula. Kitsap County has branch offices in Port Orchard and Belfair and a loan center in Silverdale. The president and CEO is Barbara Hoag. Kim House manages the Port Orchard branch, 876-8898. Peninsula specializes in mortgage programs and consumer auto loans.
   Silverdale State Bank, 692-6196, is headquartered in Silverdale and was acquired by American Marine Bank in April of this year. Rebecca Ashby, President and CEO, is pleased that her bank’s relationship with American Marine will open more opportunities for commercial lending.

Al Blossey, president of Pacific Northwest Bank

   Pacific Northwest Bank, which was organized in 1989 as First National Bank of Port Orchard has two Kitsap branches — one in Port Orchard (360) 895-BANK and one in East Bremerton as well as another in Gig Harbor. The bank was acquired by Interwest Bank in 1998 and is a subsidiary. Longtime Kitsap Bank vice president Al Blossey is now vice president and Area Manager of Pacific Northwest Bank. The bank specializes in commercial and consumer lending and has a mortgage division.
    Sterling Savings Bank’s only Kitsap County branch is located on Bainbridge Island. The branch manager is Shaun Stephenson, (206) 842-8676. Two years ago the Sterling Bank purchased 34 branches of Key Bank and now has a total of 77 branches throughout Washington, Oregon, Idaho and Montana. Sterling Bank’s President is William Zuppe. Sterling offers a full range of commercial and consumer services, including financial services through its Harbor Financial office and mortgage services through Action Mortgage. Sterling Bank has announced no plans for expansion in the Kitsap area.
   Timberland Savings Bank is headquartered in Shelton and operates a branch in Silverdale. The bank offers real estate loans, construction loans, FHA and home improvement loans. The Silverdale branch may be reached at 9360) 308-8824.

Joe Riley of Viking Bank

   Viking Bank Kitsap’s newest bank, was opened just last month and is headquartered in Ballard with branches in Poulsbo and Fife. Its president is Pat Redmond. Joe Riley, (360) 394-1701, is Viking Bank’s senior vice president and the Poulsbo branch manager. The bank specializes in SBA loans and business and personal banking.
U.S. Bank’s Port Orchard branch, 876-0277, is located in the Albertson’s Food Center on Olney Ave. SE. Managed by Sherryl Music, it is one of five branches in Kitsap County. U.S. Bank’s Washington State main office is in Seattle and is managed is Phyllis Campbell. U.S. Bank’s parent company is U.S. Bancorp headquartered in Minnesota. U.S. Bank specializes in home equity loans and private financial services. Brokerage services are offered through Piper-Jaffrey. A new branch office was recently established in the Albertson’s at the corner of Sedgewick and Sidney in Port Orchard, and there has been some discussion of opening branches in Belfair, Mason County and Bainbridge Island.
   Washington Federal Savings operates two branches in Kitsap County — in East Bremerton and Poulsbo. Larry Elfendahl is the manager in Poulsbo and Glenda Nichols manages the East Bremerton branch. The bank offers residential loans, custom construction loans, land development loans and personal banking services.
   Washington Mutual is today one of the fastest growing banks in the nation. Beginning as Washington National Building and Loan Investment Association, the bank was founded in 1889 in Seattle and helped people rebuild after the great Seattle fire. Today, Its subsidiaries provide consumer and commercial banking services, securities brokerage, mutual fund management, property/casualty and life insurance sales, and underwriting for insurance annuities. Washington Mutual operates local branches in Port Orchard, Bremerton, East Bremerton, Poulsbo, Silverdale, Bainbridge Island and Belfair as well as a mortgage loan office in Silverdale. The 24 hour customer service number is (800) 756-8000.

Westsound Bank’s Klaus Golombeck, president

Westsound Bank’s president and CEO is Klaus Golombek, 405-1200. Westsound is a local community bank started in March 1999 by a group of Bremerton businesspeople. It occupies the old People’s Bank building on the corner of 2nd and Pacific in downtown Bremerton, which Golombek describes as the “Westsound World Headquarters,” as there are presently no other offices. Westsound Bank specializes in owner construction services and business banking.
Wells Fargo Bank recently purchased the First Interstate Bank branches in Kitsap County. It operates branches in Bremerton, Bainbridge Island and Silverdale. It also recently acquired Norwest Financial, one of the nation’s leading home loan lenders which has a branch in Silverdale and another in Bremerton. Wells Fargo offers business and commercial banking services as well as personal banking. The main information number is (800) TO-WELLS.