Westsound Bank President and CEO, Dave Johnson

Westsound Bank is aggressive, from president and CEO Dave Johnson on down.

As one of the new kids on the block, Johnson believes Westsound Bank has found a niché through its accessible, open-minded approach to managing other people’s money.

Now with two branches, the other in Silverdale, and another planned for Port Angeles in 2003, many eyes are tracking the success and the dollars of the upstart in an already competitive area.

“In the last 12 months we’ve grown by more than 100 percent,” Johnson said. “Can we keep that up? I don’t think we will but we are outpacing the industry.”

Westsound has an estimated $43 million in total assets. In March the reported figure from the Federal Deposit Insurance Corporation was $37 million.

“It’s interesting other banks think there’s a lot of difference between them,” Johnson said. “The rudimentary checking and saving accounts are the same.”

“But we’ve still got to show we are different from all of them.”

Day 1 of operation was March 12, 1999. Johnson said Westsound grew out of the belief in Bremerton’s future as an economic power. As a history buff, Johnson said he’s looked back at how the city has matured.

“It comes down to the people,” he said. “A lot of people, especially business people have a story to tell. You ask them and they’ll open up.”

Johnson, 37, has a background in corporate holding banks, large entities that, he understands, must make moves for cost efficiency.

“There are pre-prescribed rules,” he said. “The mindset is, don’t step outside of that even if it makes sense.”

Under Johnson’s hand, Westsound Bank attempts to be the opposite. The bank has 15 employees and even though Johnson said he likes to be the public face of the bank he relies on good tellers and managers to make the day-to-day decisions.
“The employees are entrepreneurs themselves and not everybody can work here,” Johnson said. “It’s a different culture. We want passionate banking, though that’s often thought of as an oxymoronic term.”

To develop that widespread trust throughout the bank takes a special type of person — “one who isn’t afraid to take some risks.”

Johnson said those risks are required to reach the high goals he sets for the bank. But with that comes the hardest part of the job for him — being patient.

He doesn’t let that impatience come across.

“Hi Earl,” Johnson said as a casually dressed customer walked toward the front door just outside his office.

“Thanks for that line of credit,” came the reply.
“Thank you for doing business with us.”

(Editor’s Note: Temple A. Stark is a free-lance writer living in Port Orchard. Reach him at writer@harbornet.com.).