Oak Harbor residents will be well served by the presence of another locally owned bank in town.

Peoples Bank, based in Lynden, recently opened in the old location of Pacific Northwest Bank. As we all know by now, Pacific Northwest Bank, whose roots went all the way back to Oak Harbor-based Island Savings and Loan, was swallowed up by banking behemoth Wells Fargo. The acquisition cost many Oak Harbor residents their jobs, some of whom have found new employment with Peoples Bank.

Oak Harbor is well represented by large national banks like Wells Fargo and US Bank, plus an assortment of smaller banks. Big banks offer services that smaller banks can’t, such as a nationwide network of ATM machines. We need big banks as well as small ones.

Smaller banks are known for their customer service and attention to the needs of the local, independent business community. Whidbey Island Bank, for example, has thrived with its emphasis on personal banking and recently expanded its Oak Harbor operations. Peoples Bank, located in the same neighborhood on Pioneer Way, will no doubt mean more competition for those looking for the friendly, person-to-person approach of a small bank.

People Banks provides the community with more jobs, another customer-friendly place to do business and a corporate headquarters just up the highway. Its presence can only benefit the people of Whidbey Island.