“As bankers we like to know everything,” said Mary Hoover, vice president and Silverdale branch manager for American Marine Bank. “If they’re looking for money we need full disclosure.”

“I think it’s important to share quite a bit,” said David Johnson, president and CEO of Westsound Bank. “Knowledge is the key to banking.”

If a banker doesn’t understand the fundamental nature of a business, including customer bases, cash flow cycles, equipment needs, even employee numbers and space requirements, it is difficult for them to price products and structure loans that will help the business be successful.

“If we do a short term loan that’s due in two weeks, and the business only gets paid on a 45 or 90 day cycle, then we’ve set them up to fail,” said Johnson.

If a business is simply looking to open a checking account, Hoover said, the need for knowledge is much less. But still, she continued, “it’s always nice to know as much as we can.”

Do businesses balk at dishing out so many details to their banker?

“I never met a business person who has not embraced me every time I’ve asked to learn about their business,” said Johnson. “It’s like people talking about their kids. They’re always delighted.”

Johnson encourages the loan officers at Westsound Bank to visit customers’ business and “kick the tires,” walk through the business with the bank customer and get a real understanding for how that business ticks.

“One thing about banking that never gets boring,” said Johnson, “you have to understand a lot about a lot of other businesses. You don’t do that sitting in an office.”.