Current President and CEO Rex Townsend

American Marine was founded on Bainbridge Island in 1948, and originally known as the Bainbridge Island Bank. In those days, banking for Bainbridge residents meant a requisite ferry ride to Seattle. Therefore, Islanders usually made do by cashing paychecks at the local grocery or hardware store. Recognizing the need for financial resources to serve a small community he knew was destined to grow, with the help of People’s Bank, with which he had a prior relationship, founder Louis Goller fulfilled his dream by opening the bank. It held more than $322,000 in deposits by the end of the first year.

By 1964 the staff had grown to 16, and AMB had added computerized bookkeeping — becoming one of the first banks in Washington to do so. Another milestone was reached in 1968 when Terrie Takemoto Sua opened AMB’s first branch office at the Winslow Village Shopping Center, becoming the first woman bank manager in the state.

Changing the name to American Marine Bank in 1970, Goller lead the bank through a period of tremendous local growth, which by the late 1970s, had seen AMB expand its branch network throughout Kitsap County.

In 1973, AMB also did the first major remodel and expansion of its main office in Winslow, and debuted the first resident Trust Department in Kitsap County. And as a convenience to the many Island residents who commute daily to Seattle, Goller oversaw the opening of a branch at Third and Marion in downtown Seattle, in 1983.

In 1988, the board of AMB made a decision to sell seven of its local branches to what was then called SeaFirst Bank (now Bank of America) and return to its roots as Bainbridge Island’s hometown bank. SeaFirst at the time only had one branch here, which was located in Bremerton, but was focused on expanding into Kitsap County. As part of the deal, SeaFirst agreed to a multi-year non-compete specifically for Bainbridge Island.

It was during this period in the 1990s, that AMB once again began expanding back onto the Kitsap Peninsula by opening an in-store branch at the brand new Central Market in Poulsbo in 1995. Telephone banking also debuted that year, and in 1997, and a new holding company, AMB Financial Services Corporation was formed. All American Marine Bank stockholders became stockholders of the new holding company.

AMB was among the first to launch Internet banking in 1998. In 1999, AMB opened its Business and Professional Banking Office at Second Avenue and Spring Street in downtown Seattle. It also formed a new subsidiary, Community Mortgage Company, offering mortgage services throughout the Puget Sound area, that same year.

In October of 2001, AMB acquired Silverdale State Bank. Also in 2001, AMB unveiled a new bill pay system for customers.

Another remodel and expansion of the flagship office in Winslow began early in 2002 and continued through 2003, and opened to rave reviews in April of 2004. The completed project served as a beautiful new anchor for downtown Bainbridge Island. Deposits had also grown to $244,968,000 at the end of 2003.

Also, In June of 2004, AMB returned to Kingston in a temporary building on Lindvog Road while construction began on a permanent location, which was completed in 2005. The downtown Seattle office completed a move to a newer and larger location in the same building. A new Business Loan Center was introduced on Highway 305 NE in Poulsbo, becoming the second AMB office to offer customers a dedicated location for loans.

Meanwhile, in August of 2004, American Marine announced plans to partner with Safeway to open four new in-store locations that would offer full service banking — providing personal checking and savings products, loans, mortgages, trust and wealth management services and business banking products. By March of 2005, all four in-store offices were operating in Sequim, Port Angeles, Belfair and Port Townsend bringing the total number of branches to 11.

In July of 2005, construction of the Kingston office was completed and celebrated its grand opening. That branch also houses the loan servicing and merchant credit card departments, with space for business bankers and real estate lenders.

“As a community bank, our customers can feel good about keeping their funds local, unlike some of the large national banks. Those funds help finance local small businesses, support education, arts, economic development and health-related programs right here in our neighborhoods,” stated Townsend. “And, unlike the large banks, decisions are made locally and customers have access to those decision makers, which helps provide quicker response and a more hands-on banking experience. As part of AMB’s value statement, we believe that our continued success depends on being actively involved in our communities.”

For more information, visit www.americanmarinebank.com.