OAK HARBOR, Wash. -- (Business Wire)
Whidbey Island Bank, the operating subsidiary for Washington
Banking Company (NASDAQ:WBCO), is now open in its newest office located
at 13930 NE Mill Place Suite 112, Woodinville, WA 98072.
“We’re happy to have the doors open at our new office and our employees
are very eager to extend the Whidbey style of banking to more of our
Eastside neighbors,” said Bryan McDonald, President of Whidbey Island
Bank. “Our Woodinville team is headed by Rob Raile, a twenty-five year
banking veteran who has been with us for the past six months.”
“I’m excited about the opportunities that the new location provides for
our team and for the convenience it offers our customers,” stated Raile.
“Having commercial and retail customers bring their banking business to
Whidbey even before the office opened is a great indication of what lies
In addition to Raile, the Woodinville team includes Commercial Loan
Officer Chris Ulin, Credit Analyst Jake Hilleary, Credit Assistant Barb
Jeffries, Real Estate Loan Officer Kathleen McCormick, and Customer
Service Specialist Kellie Tuttle. “We anticipate that our competitive
suite of products and attentive service will continue to be
well-received by the many new business and retail customers in this
fast-growing community,” Raile added.
Branch hours of operation are Monday through Friday, from 9:00 a.m. to
5:00 p.m. An ATM is on premises and available for use 24 hours a day.
The branch phone number is (425) 419-2180. Grand opening festivities are
planned for the first quarter of 2013. Whidbey Island Bank now has three
King County branch locations within its 31-branch network in
ABOUT WASHINGTON BANKING COMPANY
Washington Banking Company is a bank holding company based in Oak
Harbor, Washington, that operates Whidbey Island Bank, a state-chartered
full-service commercial bank. Founded in 1961, Whidbey Island Bank
provides various deposit, loan and investment services to meet
customers’ financial needs. With its two FDIC-assisted acquisitions in
2010, Whidbey Island Bank currently operates 31 full-service branches
located in six counties in Northwestern Washington. In June 2009,
Washington Banking was added to the Russell 2000 Index, a subset of the
Russell 3000 Index. Both indices are widely used by professional money
managers as benchmarks for investment strategies. For each of the past
three years Washington Banking was ranked the top financial institution
in the Pacific Northwest region in the Seattle Times’ “Best of the
Northwest” annual review of public companies.
This news release contains forward-looking statements that are subject
to risks and uncertainties. These forward-looking statements describe
management's expectations regarding future dividends and dividend payout
ratios. Readers should not place undue reliance on forward-looking
statements, which reflect management’s views only as of the date hereof.
The words “anticipate,” “expect,” “will,” “believe,” and words of
similar meaning are intended, in part, to help identify forward-looking
statements. Future events are difficult to predict, and the expectations
described above are subject to risk and uncertainty that may cause
actual results to differ materially. In addition to discussions about
risks and uncertainties set forth from time to time in the Company’s
filings with the Securities and Exchange Commission, factors that may
cause actual results to differ materially from those contemplated in
these forward-looking statements include, among others: (1) local and
national general and economic condition; (2) changes in interest rates
and their impact on net interest margin; (3) competition among financial
institutions; (4) legislation or regulatory requirements; (5) the
ability to realize the efficiencies expected from investment in
personnel and infrastructure; and (6) the ability to open new locations.
Washington Banking Company does not undertake to update forward-looking
statements to reflect circumstances or events that occur after the date
the forward-looking statements were made. Any such statements are made
in reliance on the safe harbor protections provided under the Securities
Exchange Act of 1934, as amended.
Jack Wagner – WBCO President & CEO
Bryan McDonald – WIB
President & CEO
Rick Shields – EVP & CFO
Source: Washington Banking Company
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