Change is good, and when a new bank opens in town, there’s going to be some interest.
Business Bank, a small, community bank headquartered in Burlington, opened a loan production office in June on Midway Boulevard, and is aiming to open a full-service branch here in the future.
“We don’t have an exact date yet,” said Senior Vice President Kari Holmly, “but the intent is as soon as possible.”
“We really think that Oak Harbor is going to be a viable growth business area over a period of time,” said CEO Mike Cann. “I’m very excited about it.”
The office currently offers loan services. Todd Krantz is manager, Susan Mallams is business development officer, and Lani Karsh is the credit assistant.
“We all came from another bank here in town, so we knew each other and worked together,” said Mallams.
“The staff here are just family,” Mallams said.
Cann said he joined Business Bank in 2010, a time when the company was struggling. He said he was hired to help turn things around, “and ended up getting involved and becoming the chairman and CEO of the bank.”
“The bank’s doing well now and back on its feet,” Cann said.
Expansion, he said, was the logical next step, and Oak Harbor was a no-brainer.
“We have a lot of connections … with the Oak Harbor community, and we think it’s a great place to do business,” he said. “I think it’s natural for us.”
Cann was the former president and CEO of Whidbey Island Bank. He retired in 2008.
The key to doing well in Oak Harbor was partially about finding a good location, but especially about finding a good team to run the office, Cann said.
“We’ve got a really, really good team of people there, and we’re looking forward to being more a part of the community there in Oak Harbor.”
“The key thing is all four of us have worked for Mike in the past … and we think so much of Mike and his management style and how he runs a bank,” she said.
“I think he’s highly respected in the Whidbey Island community.”
Mallams said that she’s enjoying reintroducing herself to people as part of a new bank in town.
“That’s always a bit of a challenge; it’s also the fun part of it,” she said. “It’s really nice to be back in a small bank where you feel like you’re making a difference.”
“We feel like the future is really bright,” Mallams added.
Business Bank has full-service branches in Burlington and Mount Vernon.
Holmly said they offer remote deposit capture, so anyone with an account can make a deposit using a photo of a check.