Skagit State Bank is rebranding itself as Skagit Bank and moving ahead with plans to open a new downtown Bellingham branch at 128 E. Holly St. in June.
The bank’s Burlington-based parent company, Skagit State Bancorp, announced the news following its annual stockholders meeting on April 22. For the past several months, Skagit Bank has run billboard ads in Whatcom and Skagit counties that feature nothing but curved lines of green, black and white along with text reading “04.23.14.”
In addition to the rebrand, Skagit Bank announced it will open a new loan production office in Seattle’s South Lake Union neighborhood in May.
“We never want to forget our roots here in Skagit County, however we believe the fresh new look and name change will resonate well with customers in other areas as we expand,” Russ Lee, Skagit Bank’s president and chief operating officer, said in a news release.
Skagit Bank operates two branches in Bellingham, one that includes a business banking center, as well as a third branch and business center in Lynden. Its Skagit County operations include six offices and two business banking centers.
The bank did close its branch in Stanwood this year, with a bank spokesman citing a lack of growth in the market there. A Skagit Bank branch in Arlington remains open.
The bank apparently decided to rebrand in November of last year, but its executives wanted to wait until after their annual shareholders meeting to make an official announcement.
Evan Marczynski, associate editor of The Bellingham Business Journal, can be reached at 360-647-8805, Ext. 5052, or firstname.lastname@example.org.