Megan Clubb, President & CEO of Baker Boyer Bank, brings you an update on the state of the bank, the local economy, and nation-wide regulatory reform.

My spouse and I just extended our membership to David Barton Gym in the Bravern complex in Bellevue. Since a bicycle jersey and spandex shorts are as close as you'll come to seeing me sans clothes, it wasn't their eye-catching tagline "Look Better Naked" that hooked us.

Baker Boyer Bank will close its Weston branch later this year in a cost-cutting move that will leave the community of less than 1,000 residents without a bank.

To read more visit the Walla Walla Union-Bulletin website at union-bulletin.com/stories/2010/7/23/baker-boyer-to-shutter-weston-branch.

Baker Boyer Bank was honored for the sixth consecutive year as one of the "2010 Best Companies to Work For" in the state by Seattle Business magazine.

Check out the new look of the Washington Federal Savings Bank website - http://www.wfsl.com/.  It is being updated by section and it's interesting to see that the search engines have been quick to scan the updated copy in each section. Great argument for keeping your website content up to date!

When Treasury Secretary Tim Geithner talked this week with community bankers from Washington state, two voices from Walla Walla were in the room. Megan Clubb, Banker Boyer Bank president, and Banner Bank President Mike Jones were among a group of bank presidents who met Tuesday with Geithner in Tacoma.

Seattle, WA – For the first time in more than 25 years, Washington Federal Savings is updating its company image and launching a new brand identity.  New signs are already being installed at many of the company’s Western Washington locations. Work will continue locally through early May. The company-wide initiative centers around shortening the corporate name to “Washington Federal” and re-branding the branches recently acquired from both Horizon Bank and First Mutual Bank.  All will operate under the “Washington Federal” name going forward.

SEATTLE – Washington Federal, Inc. (Nasdaq: WFSL), parent company of Washington Federal, today announced earnings of $82,111,000 or $.73 per diluted share for the quarter ended March 31, 2010, compared to $8,410,000 or $.10 per diluted share for the same period one year ago.

On Thursday, Fortune Bank announced it will try to raise $450 million in new capital in hopes of acquiring Northwest banks that have been weakened by the recession and real-estate.

SEATTLE, WA—Fortune Bank announced today that it is seeking the approval of its shareholders for an amendment and restatement of its Articles of Incorporation as part of a proposed capital raise.  In order to enable the Bank to proceed with the capital raise, the proposed amendment would, among other things, increase the authorized number of shares of common stock from 10 million to 250 million.  The proposed amendment also includes certain other provisions that are typical for a publicly traded company.

March 15, 2010  Lynnwood, WA--City Bank (NASDAQ: CTBK)

City Bank announced today that it has received a Corrective Action Directive from the Federal Deposit Insurance Corporation (FDIC) giving it until April 10 to raise additional capital through the sale of shares or obligations so that it will be "adequately capitalized."  If that is not possible, the FDIC directed City Bank to accept an offer to be acquired by another depository institution.

Puget Sound Business Journal reported in their February 19 "People on the Move" column that Cheryl Gunderson has joined Fortune Bank as senior vice president, Bellevue.

City Bank announces a quarterly loss of $37 million for fourth quarter and a total of $104.6 million for the year.

The Seattle Times reported Frontier Financial's quarterly losses of $33.9 million in their January 29, 2010 issue.

With dozens of Northwest banks left with a mass of delinquent and foreclosed properties after the collapse of the housing bubble, City Bank of Lynnwood is taking an innovative approach.

SEATTLE, WA (January 28, 2010) – Fortune Bank has hired Cheryl Gunderson as Senior Vice President, Bellevue. She was most recently a SVP and manager at Frontier Bank in Redmond and also worked for Wells Fargo, Seafirst and Pacific Northwest Bank during a 30 year banking career.

The recent purchase of the assets of Horizon Bank resulted in a lengthy interview in the January 15 issue of the Puget Sound Business Journal.

Washington Federal, Inc. (NASDAQ-WFSL), parent company of Washington Federal, today announced its acquisition of certain assets and liabilities, including most of the loans and deposits, of Horizon Bank, headquartered in Bellingham Washington. As of September 30, 2009, Horizon reported total assets of $1.3 billion and total deposits of $1.2 billion. Horizon Bank operated 18 full-service offices, four commercial loan centers and four real estate loan centers throughout Whatcom, Skagit, Snohomish and Pierce Counties in Washington.

Fortune Bank President Interviewed In Washington Manufacturing Alert 2010 Preview Issue.

David Straus, President and CEO of Fortune Bank, said bank customers who avoided becoming highly leveraged during the recent economic downturn will fare well with their banks in 2010 and will be able to take advantage of depressed real estate prices to buy the buildings they occupy.

Conrad Hanson, 67, Chairman, President and CEO of City Bank in Lynnwood, said today that he is stepping away from day-to-day activities of the Bank and will retire as President and CEO at the end of 2009.  He will continue to serve as Chairman of the Board of Directors until the Bank's annual shareholders’ meeting in May 2010.

Megan Clubb, president and CEO of Baker Boyer Bank,  was one of 16 women honored at the 2009 Women of Influence Awards banquet in Bellevue November 19.  Clubb was the only honoree from outside the Puget Sound region. The annual event  raised over $5,000  for a college scholarship for a woman student. 

Walla Walla Union Bulletin reports on Baker Boyer Bank CEO Megan Clubb receiving the 2009 Women of Influence Award.

Megan Clubb, Baker Boyer’s president and CEO, was among the Washington state business leaders who traveled with Gov. Chris Gregoire to Washington, D.C., last week to meet with White House officials.

George Brace was hired by Fortune Bank, Bellevue, as senior vice president.