Published May 2001

The Bank of Edmonds changes name, eyes growth

By Kimberly Hilden
Herald Business Journal Assistant Editor

Looking ahead to more growth in the coming years, The Bank of Edmonds has changed its name to The Bank of Washington.

The new name, which took effect April 10, “is a small change, which presents a significant strategic opportunity for our bank,” Gary Schmitt, President and CEO of The Bank, said in a prepared statement.

“We are pleased with our first four years’ results, but as we grow beyond our south Snohomish County base, we want to be certain that all of our customers feel that our name is inclusive of their geographic area,” he said.

Already, The Bank’s messenger pickup service and modem-to-modem business banking has added “a significant number of customers over the past year” in the greater Puget Sound region, Schmitt said in an interview.

“We’re already scattered as far south as Seattle and as far east as Bellevue,” he said.

Operationally, The Bank remains the same under the new moniker. Customers’ checks and cards remain usable, and shareholders will not need to have their stock certificates reissued.

New signage should be in place by this month, Schmitt said.

With branches in Edmonds, Lynnwood and Mukilteo, The Bank of Washington is a community bank with more than $60 million in assets, according to a news release.

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