Your Photo Here - Media Communication Group

September/October 2011 

MARCH/APRIL 2011 

MAY/JUNE 2011 

OFFICIAL PUBLICATION OF THE WASHINGTON BANKERS ASSOCIATION 


Your Photo 

Here 

JULY/AUGUST 2011 

NOVEMBER/DECEMBER 2009 

OFFICIAL PUBLICATION OF THE WASHINGTON BANKERS ASSOCIAT 


UBLICATION OF THE WASHINGTON BANKERS ASSOCIATION

KNOW THE LANDSCAPE ®

A LEADER IN CAPITAL RAISING 

FOR FINANCIAL INSTITUTIONS 

Sandler O’Neill stood atop the industry in helping fi nancial companies raise capital in 2010. 

In equity capital raising, we managed more public offerings for depository institutions in 2010 than any other 

investment bank, with 29 transactions that raised approximately $11.2 billion for clients. 1 

Sandler also advised on 10 private recapitalization transactions raising $2.2 billion in capital, more than 

any other investment bank did for fi nancial companies. In all, we assisted with 19 private placements raising 

approximately $4.4 billion. 

To learn more, please contact Bob Kleinert, Managing Principal, or William Hickey or Brian Sterling, 

Co-Heads of Investment Banking, at 800.635.6855. 

$1,181,500,000 

Second-Step Conversion 

Book-Running Manager 

12/22/10 

$730,000,000 

Common & Preferred Stock 

Joint-Lead Placement Agent 

8/26/10 

$255,000,000 

Common Stock 

Lead Placement Agent 

1/29/10 

$50,005,000 

Common Stock 


8/2/10 

$295,000,000 

Common Stock 


9/30/10 

$500,000,000 

Common & Preferred Stock 

Financial Advisor 

8/31/10 

$185,000,000 

Sale & Recapitalization 


12/20/10 

$150,000,000 

Common Stock 


10/6/10 

$287,500,000 

Common Stock 


3/26/10 

$198,573,000 

Second-Step Conversion 


7/7/10 

$40,000,000 

Common Stock 


3/29/10 

$75,000,000 

Preferred Stock 

Sole Placement Agent 

6/21/10 

$77,000,000 



6/21/10 

$60,026,000 



6/7/10 

$50,000,000 



4/9/10 

$334,403,000 

Common Stock 

Joint Book-Running Manager 

5/17/10 

$301,000,000 

Common Stock 


4/29/10 

$110,577,000 

Common Stock 


12/7/10 

$48,000,000 

Common Stock 

Sole Placement Agent 

5/21/10 

$460,000,000 

Common Stock 


10/6/10 

Sandler O’Neill + Partners, L.P. 

1 

Source: SNL Financial, includes book run and co-managed public common equity offerings in 2010 for banks and thrifts.

JULY/AUGUST 20 1 

Serving The Needs Of Washington Bankers Since 1889 

INSIDE THIS ISSUE 

SEPTEMBER/OCTOBER 2011 

5 Financial Literacy is Critical to Our Future 

Jim Pishue, President & CEO, Washington Bankers Association 

MARCH/APRIL 2011 

MAY/JUNE 20 1 

7 Our Message: Banks Are Overregulated 

Frank Keating, President & CEO, American Bankers Association 


Your Photo 

Here 


11 Constant Vigilance 

By Denny Eliason, WBA Lobbyist, Alliances Northwest 

12 Hit Us with Your Best Shot 

NOVEMBER/DECEMBER 2 09 

O F F I C I A L P U B L I C A T I O N O F T H E W A S H I N G T O N B A N K E R S A S S O C I A T I O N 



On the Cover: Opportunity for 

aspiring photographers to showcase their 

work. Details are on page 12. 

Cover Photo Submissions: WBA 

members are invited to submit photos 

for consideration. Direct submissions to 

lisha@wabankers.com. 

ISSUES & ANSWERS is the official trade publication of the 

Washington Bankers Association. 

The views and opinions expressed herein are those of the individual 

authors and do not necessarily represent official statements of 

WBA policy, or its publisher Media Communications Group, Inc. 

Any legal advice should be regarded as general information. It is 

strongly recommended that one contact an attorney for counsel 

regarding specific circumstances. Likewise, the appearance of 

advertisers does not constitute an endorsement of the products or 

services featured by the Washington Bankers Association or Media 

Communications Group, Inc. 

13 IRA Training 

15 2011 Women in Banking Conference 

15 Small Business Banker Development Program 

17 WBA Professional Development... “What’s In Your Budget” 

17 Upcoming Events 

18 Banks are the Best Workplaces 

19 The Future of Your Business and Marketing in 2011 and Beyond 

By John Gubiotti, President and Lead Consultant for Growth Marketing 

20 State Receiverships: A Banker’s Tool for Faster, Cost-Efficient 

Recovery on Troubled Loans 

By Magdalena Bragun, Lane Powell 

22 2011 WBA/PCBS “Rise Above the Rest” Scholarship Awarded 

24 Industry News 

WBA STAFF 

Jim Pishue, President & CEO 

(206) 344-3485 

james@wabankers.com 

Liz Wilson, Executive Vice President 

(206) 344-3495 

liz@wabankers.com 

DessaMonica de Castro, Accounting Assistant 

(206) 344-3476 

dessa@wabankers.com 

Danielle Molle, Programs Administrator 

(206) 344-3475 

danielle@wabankers.com 

Monique Osbjornsen, Education Coordinator 

(206) 344-3494 

monique@wabankers.com 

Lisha Wood, Administrative Coordinator 

(206) 344-3484 

lisha@wabankers.com 

Gretchen Kirkpatrick, Database & Website Specialist 

(206) 344-3492 

gretchen@wabankers.com 

Peter Tang, Senior Accountant 

(206) 344-3472 

peter@wabankers.com 

WBA BOARD OF DIRECTORS 

Eric Pearson, Chairman 

President & CEO, Community 1st Bank, Kennewick 

Laurie Stewart, Chairman-Elect 

President & CEO, Sound Community Bank, Seattle 

Kerry Biddle, Secretary/Treasurer 

Senior Vice President, Bank of America, Tacoma 

Dave Straus, Immediate Past Chair 

President & CEO, Fortune Bank, Seattle 

Jim Mitchell, ABA Govt Relations Committee Rep. 

President & CEO, Puget Sound Bank, Bellevue 

Kurt E. Graff, WBA PROS Chairman 

President & CEO, Northwest Commercial Bank, Lakewood 

Jim Carmichael, Director (term to 2014) 

President & CEO, Columbia Bank, Tacoma 

Melanie Dressel, Director (term to 2013) 

President & CEO, Columbia Bank, Tacoma 

Brian Hawley, Director (term to 2014) 

SVP & Regional President, Union Bank, Seattle 

John E. (Jack) Heath, Director (term to 2012) 

President & COO, Washington Trust Bank, Spokane 

Dennis Long, Director (term to 2013) 

CEO, Bank of the Pacific, Aberdeen 

Jim Mitchell, Director (term to 2013 

President & CEO, Puget Sound Bank, Bellevue 

Carol K. Nelson, Director (term to 2014) 

President & CEO, Cascade Bank, Everett 

Byron L. Richards, Director (term to 2014) 

Senior Vice President, U.S. Bank, Seattle 

Greg Seibly (term to 2014) 

President & CEO, Sterling Financial Corporation 

Patrick Yalung, Director (term to 2013) 

Regional President, Wells Fargo Bank, Seattle 

www.wabankers.com 4


PRESIDENT’SMESSAGE 

Jim Pishue, President & CEO, Washington Bankers Association 

Financial Literacy is 

Critical to Our Future 

Our state and nation remain mired in a lingering economic 

malaise. Consumers are worried about their families’ 

economic health and they don’t know what to do to protect 

themselves and their financial futures. 

Many turn to the media for answers. 

But what they see on television, 

hear on the radio, or read in the 

newspaper or on the Internet is often only a 

fraction of the story. The media have always 

had to summarize and simplify complex issues 

for the general public. But as they struggle 

to deal with the attention span of today’s 

Facebook and Twitter-driven consumers, 

their attempts to boil a story down can lead 

to some serious misrepresentations of reality. 

Regulatory capital requirements and new 

regulations like those imposed by Dodd-Frank 

have seriously reduced the funds that banks 

have available to lend. 

We’ve all seen headlines about how banks 

are making it harder for consumers and 

small businesses to get a loan. What we’re 

less likely to see is any balanced discussion 

of how regulatory capital requirements and 

new regulations like those imposed by Dodd- 

Frank have seriously reduced the funds that 

banks have available to lend. 

Similarly, when the industry reported greatly 

improved financial results for the second 

quarter of this year, the characterization was 

that rich bankers once again were living high 

on the hog. What was missing from these 

reports was the fact that lower loan-loss provisions 

were the primary driver of improved 

earnings at the nations’ financial institutions. 

Untold hours of hard work by bankers across 

the country were overlooked because it was 

easier to paint a caricature of fat-cat bankers 

toasting their own good fortune. 

Then there are the gushing 

reviews that consumer 

advice columnists routinely 

lavish on the preferential 

rates available at many credit 

unions. What goes completely 

unmentioned is that 

credit unions can afford 

those rates because they are 

exempt from almost all of 

the taxes imposed on other 

financial institutions. With schools and other 

government services starved for cash these 

days, consumers should understand the social 

cost of providing that advantage to the credit 

union industry. 

Unfortunately, many consumers are poorly 

equipped to critically assess what the media 

reports. They don’t have an adequate financial-knowledge 

base to identify and evaluate 

the assumptions embedded in a story or to 

5 

make informed judgments about the conclusions 

drawn. 

This knowledge gap is one of the primary 

reasons that the Washington Bankers Association 

has long supported financial literacy 

programs in schools around the state. 

Too many high school graduates leave school 

without understanding the relationship 

between risk and return, the concept of compound 

interest, and other financial basics that 

constitute a solid economic IQ. In contrast, 

the financially literate make better customers 

and are less likely to become victims of identity 

theft and other forms of financial fraud. 

More importantly, today’s students will be 

tomorrow’s wage earners, taxpayers, homeowners, 

and economic drivers of our local 

communities. We need them to develop the 

skills to survive and succeed in an increasingly 

complex and competitive world. 

Even as the state budget crunch puts government-sponsored 

financial literacy efforts 

on hold, the private sector continues to do 

its part. Programs like Junior Achievement 

and the Association of Washington Business’ 

“Washington Business Week” are proven 

winners. They help young people develop an 

understanding and appreciation for the role 

of private enterprise, the importance of profit 

motivation, and how the economy works. 

Closer to home, WBA has sponsored “Teach 

Children to Save Day” in April and “Get Smart 

About Credit Day” in October. Through these 

September/October 2011 ⏐ 

— continued on page 9

M&A, New 

Bank & Assisted 

Transactions 

Capital 

Formation 

Strategies 

Structured 

Finance & 

Complex 

Lending 

Operations, 

Employment 

& Insurance 

Coverage 

Problem Loans, 

Workouts & 

Bankruptcy 

Receiverships, 

Deeds in Lieu & 

Foreclosures 

Holding 

Company 

363 Sales 

Regulatory 

Intervention & 

Governmental 

Mgmt Reviews 

WHEN IT HAPPENS, WE ARE THERE. 

You have opportunities, we help make them a reality. You face threats, we help find 

solutions. You need a firm deep in talent that addresses the full spectrum of banking 

legal needs, we have the team. For counsel that’s right on the money, call Foster Pepper.


WASHINGTONUPDATE 

Frank Keating, President & CEO, American Bankers Association 

Our Message: Banks 

Are Overregulated 

Internet, newspaper, television, and radio interview 

programs are showing a genuine interest in the regulatory 

burden that is hurting our banks, along with our local, 

regional and national economies. 

That’s the primary message I’ve been 

delivering lately. It was also the topic 

of a recent op-ed I wrote for the Wall 

Street Journal. In the op-ed, titled “Banking 

in a Time of Over-Regulation,” I called for 

an approach to regulation that will ensure 

fundamental protection of consumers, the 

environment and other concerns “without 

bogging businesses down in red tape or 

chilling expansion with threats of additional 

rules and harsh penalties.” 

You know this all too well. And you’ve told 

me about it as I’ve traveled around the nation 

this year and met with many of you. 

Now we’ve got to make others aware of this 

problem, including policymakers in Olympia, 

Washington, and in Washington, D.C. 

The Dodd-Frank Act, with its approximately 

4,000 pages of proposed and final 

rules, is threatening the survival of many 

community banks that are the economic 

lifeblood of small towns across America. 

“Managing this mountainous regulatory 

burden is a significant challenge for a bank 

of any size, but for the median-sized bank 

— with 37 employees — it’s overwhelming,” 

I wrote in my Journal piece. “The cost of 

regulatory compliance as a share of operating 

expenses is two and a half times greater 

for small banks than for large banks.” 

Some of the troubling Dodd-Frank provisions 

include: 

• Risk Retention. The law requires banks 

to retain a portion of the risk of loans 

that they originate and later sell to 

other parties. Banks then must hold 

capital against that retention, at a time 

when additional capital is particularly 

hard to come by. Banks will be forced 

to originate fewer mortgage loans, as 

their capacity to make and retain loans 

will steadily be used up. 

• Higher Capital Requirements and Narrower 

Qualifications for Capital. The 

capital regime supported by Dodd- 

Frank will require banks to hold more 

capital, while restricting what qualifies 

as capital to little more than shareholder 

interest and retained earnings. 

New shareholder investors are hard to 

find especially for community banks. 

Regulatory pressure on bank earnings 

(through the Federal Reserve’s policy 

holding down interest rates, controls 

on interchange, restrictions on overdraft 

programs, and higher compliance 

costs) leaves little revenue to pay investors 

or to retain to boost capital. 

• SEC Municipal Advisors Rule. Banks 

that provide municipalities with traditional 

banking services, which are 

already subject to oversight by primary 

7 

regulators, will be subject to additional 

registration and oversight burdens by 

the Securities and Exchange Commission. 

The compliance costs of duplicative 

regulation will make serving local 

municipalities unattractive for community 

banks. 

• Derivatives Rules. New derivatives rules 

will make it much more expensive for 

banks to offset their loan exposures to 

customers, industries, lines of business, 

interest rates, credit default, and other 

risks through the use of derivatives. 

• Doubling Size of the Deposit Insurance 

Fund. Under Dodd-Frank Act authorities, 

the FDIC has announced plans to 

double the size of the DIF, taking as 

much as $50 billion out of the earnings 

and capital of the industry. 

We’re working to target Dodd-Frank’s 

enormous regulatory overreaction. As I 

said during one recent radio interview, the 

ever-growing regulatory burden hurts community 

banks that lend to Main Street. “If 

the institution shuts its doors just because 

they simply can’t respond to this burden, 

the whole thing ends.” 

E-mail Frank Keating at fkeating@aba.com 

September/October 2011 ⏐

IN THESE CHALLENGING TIMES, 

the lawyers at Graham & Dunn are uniquely prepared 

to provide the experience, expertise and practical 

creativity required to address the needs of 

financial services firms. 

LOAN AND REAL ESTATE WORKOUTS 

BANKRUPTCY RELATED ISSUES 

LITIGATION MATTERS 

PRIVATE AND PUBLIC CAPITAL RAISES 

MERGERS AND ACQUISITIONS 

BOARD AND MANAGEMENT RETREATS 

REGULATORY AND ENFORCEMENT MATTERS 

BANK OPERATIONS 

GRAHAM & DUNN is a Seattle based, industry-focused law 

firm with a long history of serving public and private financial 

institutions of all sizes doing business in the Northwest. 

WWW.GRAHAMDUNN.COM | 206.624.8300


PRESIDENT’S MESSAGE — continued from page 5 

programs, WBA member bankers from around the state bring engaging 

and entertaining financial literacy tools to students at all grade 

levels. If your bank isn’t already involved in these programs, it should 

be. Just contact the WBA office for more information. 

The WBA Board also recently authorized us to begin negotiations with 

a company that provides a comprehensive online financial literacy 

program for K-12. We are excited about this potential relationship and 

the innovative learning experience it could provide to our students. 

We hope to unveil details of the program soon, so stay tuned for more 

information on this important new opportunity. 

We must do everything we can to prepare tomorrow’s consumers to 

make good decisions about their finances. As Fed chairman Ben Bernanke 

says, “In today’s complex financial markets, financial education 

is essential to helping consumers make better decisions for themselves 

and their families.” 

I couldn’t have said it better myself. While it’s a long-term approach, 

financial literacy education could become one of the most important 

things WBA does to improve the long-term prospects for our industry. 

And that could be some very good news indeed. 

Special Announcement: 

OTR, Inc. is offering a 25% discount on Annual Meeting & 

Proxy Services for all new clients throughout 2011. 

A Partner You Can Trust. 

Proxy Services. 

Record Keeping. 

Trust Services. 

Corporate Actions. 

Dividend Disbursement. 

Shareholder Inquiries. 

24-Hour Online Access. 

DTC FAST Agent. 

Offer valid for all new clients who sign a contract within 2011 and hold a meeting within 

the following 12 months. 

An Independent Transfer Agent, 

located in downtown Portland, OR. 

www.transfer.com - online demos! 

1001 SW 5th Ave. Ste. 1550 

Portland, OR 97204 503-225-0375 

9 


Your Prescription is 

Ready for Pick Up 

USource Human Resources Management, the HR management 

service designed by the community bank specialists at 

United Bankers’ Bank. For one, low monthly fee, you receive: 

• Unlimited access to the HR Hotline for on-demand advice 

• A comprehensive employee manual, customized to your bank 

• Additional resources including the USource annual benefits 

and salary survey, HR audits, employee surveys, 

pre-employment tests, the online resource center, 

newsletters, and free management seminars and webcasts 

You’re Ready No Matter ‘What’s Next’ 

Together with your insurance carrier, brokers and payroll 

company, we’ll help you navigate the health care reform maze. 

In fact, you can count on USource no matter “what’s next” 

in HR. 

Now, Put Us to the Test 

Call us today with your HR questions, and we’ll tell you more 

about how USource can affordably and effectively help you 

meet the human resource challenges at your bank. 

United Bankers’ Bank 

PO Box 1766 | Clackamas, OR 97015 

Rick Smith 503-347-0556 • www.ubb.com | Member FDIC


Constant Vigilance 

By Denny Eliason, WBA Lobbyist, Alliances Northwest 

“Constant Vigilance” seems to be the ongoing mantra 

for the WBA Government Relations Program these days. 

The 2011 legislative session saw a number of significant 

challenges for our industry, particularly on tax and 

foreclosure issues. The 2012 year is shaping up to be no 

different, especially in the areas of taxes, credit availability, 

and government spending. 

Earlier this year lawmakers adopted 

a $32.2 billion General 

Fund Operating Budget, and 

also left a $741 million reserve 

in anticipation that the economy might 

continue to weaken. They did so without 

raising taxes, and for the first time in more 

than a decade actually cut state spending. 

I-1053 — a measure passed by the voters 

— restrained lawmakers from raising 

taxes without a 2/3 vote, and thus fiscal 

discipline was forced upon the Legislature. 

Elimination of the first mortgage deduction 

will do nothing but further weaken the lending 

environment in our State. That’s where 

constant vigilance comes into play. 

Make no mistake, there was a great deal 

pressure put on the Legislature by labor 

unions and social welfare groups to raise 

taxes and to overturn I-1053. That said, no 

bill passed both houses to do so. In recent 

months House Democrats have responded 

with a challenge to the constitutionality 

of I-1053, arguing that a bill designed to 

eliminate the first mortgage deduction did 

indeed pass the House with a simple — albeit 

razor thin — majority, and thus such a 

measure should have been allowed to pass 

under Washington’s constitution. Their 

argument is significantly weakened by the 

fact that no such bill passed the Senate. 

Given that backdrop, Washington now 

finds itself with yet another set of general 

fund budget challenges as our economy 

continues to struggle. The official June 

Revenue Forecast for Washington State 

was down more than $500 million, and 

the September forecast is projected to 

be down at least another 

$1.7 billion. Labor unions 

and social service groups 

have already begun to call 

for increased taxes and 

are urging lawmakers to 

adopt a tax package that 

can be sent directly to 

the people for a vote, thus 

skirting the protections of 

I-1053. Those same groups 

focus directly on the need 

to close “corporate tax loopholes” and 

place the first mortgage deduction at the 

top of the taxes to be levied. 

Winston Churchill once said, “A lie gets 

halfway around the world before the truth 

has a chance to get its pants on.” This 

quote is especially true as it relates to the 

taxation of banks in Washington State. 

Application of the B&O tax to banking 

services is unique to our State and means 

11 

that Washington places one of the highest 

tax burdens in the nation on our industry. 

Yet, labor unions and consumer groups 

constantly pound the press and social media 

outlets with the notion that the banking 

industry does not pay “its fair share” 

in Washington. We know nothing could 

be further from the truth and elimination 

of the first mortgage deduction will do 

nothing but further weaken the lending 

environment in our State. That’s where 

constant vigilance comes into play. 

The WBA will be holding a series of regional 

meetings this fall bringing legislators 

together with bankers in their local 

communities. These gatherings have been 

popular for many years, and afford our industry 

the opportunity to educate lawmakers 

about the realities of the marketplace 

and our industry. These gatherings begin 

at 11 a.m. and end promptly at 1:30 p.m. 

The remaining luncheons this year will be 

held at the following: 

• October 17 in Everett at the Inn at 

Port Gardiner 

• October 18 in Bellingham at the Hotel 

Bellwether 

• October 19 in Tacoma at the Hotel 

Murano 

• October 20 in Bellevue at the Westin 

Hotel 

Please consider sending a representative 

from your bank to these briefings. The 

opportunity to have lawmakers hear from 

“real” bankers is a powerful tool for our 

industry to set the record straight going 

into the 2012 legislative session. If you 

have any questions regarding these briefings, 

please contact the WBA offices. 



Hit Us with Your Best Shot 

We’re seeking the six best photos to feature on the upcoming 

covers of our Issues & Answers magazine. This is an opportunity 

for aspiring photographers at WBA member banks to showcase 

their photos and photography talents statewide. 

Images should be high resolution, digital photos* and represent 

Washington state’s seasonal landscapes, scenic landmarks, and/or 

present dynamic representations of banks and banking in action. 

Winning photos will be chosen by WBA staff and photographers 

will be recognized in an upcoming issue of our magazine. 

So don’t delay… get your shutter snapping and send in your 

photos today! 

Details 

Photos may be sent to info@wabankers.com by the close of business 

on November 1, 2011 and must be original images. Multiple 

photos from one photographer may be submitted, but must be sent 

as separate entries. Winners will be selected and announced by 

November 15 and winning photos will be showcased at the CEO 

Conference in December. WBA may require a photo release for 

images featuring people or trademarked locations. Please include 

the following information with each entry: 

• Your name 

• Your title 

• Your department (if applicable) 

• Member bank name 

• Phone number 

• Email 

• Name of photo 

*Find photo submission details on our website at www.wabankers.com 

or request them by calling 206.447.1700. Submit a photo 

release for photos featuring people. 

2011 ABA NATIoNAL 

AgriculturAl BAnkers conference 

November 6–9, 2011 JW Marriott Indianapolis Indianapolis, Indiana 

Save the Date! 

Bankers Day on the Hill is February 23, 2012 

Bankers Day on the Hill is a prime opportunity for 

legislators to hear directly from Washington’s bankers 

about the challenges facing our institutions and how 

their actions can impact our ability to serve the needs 

of our customers and our communities. As always, 

the day will include a briefing on key issues being 

deliberated in the capitol followed by smaller group 

meetings with key legislators. Involvement of bankers 

from across the state is key to making the date a 

success, so your participation is greatly appreciated. 

Visit www.wabankers.com for more details and 

registration information. 

everything You Want to Know 

About Ag Lending… 

Get ready to focus on agriculture at the 2011 ABA National Agricultural Bankers Conference—the 

biggest and best of its kind. Presented in cooperation with the Indiana Bankers Association, this 

year’s event will take place at the brand-new JW Marriott Indianapolis hotel—the largest Marriott 

ever built. 

You’ll find timely information, insights on trends and a look at what’s just around the corner. Top 

experts will address farm real estate prices, financing farm real estate, the outlook for commodities, 

technology on the farm, how to effectively use social media for marketing and more. 

DoN’t DelAy! For more information and to register, go to aba.com/AgConference. 

www.wabankers.com 12 

AG_11_SBAads_color.indd 2 

6/23/2011 12:28:49 PM


Winter CEO Bank Directors Conference: 

A Must for Executive Management and Boards of Directors 

December 1 and 2, Cedarbrook Lodge, Seattle, WA 

Make your plans today to attend WBA’s CEO Bank Directors Conference, December 1-2 at Cedarbrook 

Conference Center near the Seattle-Tacoma airport. Your entire board will benefit from the relevant and 

timely information they’ll receive on the issues and trends impacting our industry. Some of the highlights 

of the program will include a presentation by former Fed Governor Mark Olson, an address by Washington 

State Attorney General Rob McKenna, a regulatory panel, sessions on executive compensation, and breakout 

sessions specific to bank board members. This conference is a great way to give your directors useful 

information and build teamwork to help them be a more effective board. 

IRA Training 

In today’s economic environment, it is important to provide 

your staff with the skills and knowledge needed to stay 

up-to-date with changing and challenging times. WBA 

partners with Ascensus, the foremost provider of IRA and 

retirement plan education. Together, we deliver IRA training 

that simplifies processes and promotes growth within 

financial organizations. 

butions from their traditional IRAs in 2009. In 

the past, IRA owners typically took traditional 

IRA distributions to satisfy the required minimum 

distribution (RMD) requirements. But 

in recent years, a poor economy and a string of 

natural disasters has forced some IRA owners to 

use their IRAs for nonretirement reasons. These 

facts emphasize the importance of understanding 

and correctly administering all types of IRA 

distributions, not just RMDs. 

IRA Essentials 

October 25 

Over the last 36 years, millions of people have 

used IRAs to save for retirement. As of May 

2010, 48.6 million households owned IRAs 

(compared to just over 46 million in mid-2009). 

IRAs will continue to play an important role 

in the retirement industry as more employers 

shift the burden of saving for retirement to their 

employees. Now is the perfect time for your 

company to capture and retain a piece of the 

fast-paced IRA market. Help ensure the compliance 

of your growing IRA business by attending 

an Ascensus IRA Essentials seminar today! 

IRA Essentials is the perfect seminar for 

individuals who are just starting out in the 

retirement services industry or for those who 

simply need a refresher on IRAs. Attendees 

will learn the requirements for establishing an 

IRA, contributing to an IRA, and distributing 

from an IRA. By using hands-on training and 

real-life examples, Ascensus instructors create 

an effective learning experience for each 

seminar attendee. 

Advanced IRAs 

October 26 

IRAs continue to be a popular way to save 

for retirement. According to the Investment 

Company Institute’s 2011 Investment Company 

Fact Book, by the end of 2010, IRAs accounted 

for 27 percent of all U.S. retirement plan assets 

and held $4.7 trillion (up from $4.3 trillion at 

the end of 2009). Of those households owning 

traditional IRAs in 2010, 15 percent took distri- 

13 

Through hands-on training and peer discussions, 

this informative seminar will focus on 

IRA distribution topics in addition to RMDs, 

such as taxation, early distributions, Roth IRA 

distributions, and handling IRA assets after an 

IRA owner dies. The seminar will close with an 

overview of marketing opportunities for HSAs, 

SEP plans, and SIMPLE IRA plans. 

Seminar Cost 

$225 for the first registrant, $199 for each additional 

one 

Visit www.wabankers.com for full seminar 

brochures and registration information. 



WaBnkr CQ Tools HPV 0611.qxd:Layout 1 6/27/11 10:58 AM Pa 

It’s Time for 

Better Tools... 

Complete Credit Management System 

CreditQuest ® is a powerful credit risk management system that 

manages the entire credit process. It enables financial institutions 

to customize and streamline their financial statement analysis 

process and credit workflow, while providing them with more 

accurate and consistent data in less time. 

• Streamlined Credit Workflow 

• Relationship Management 

• Financial Statement Analysis 

• Covenant Monitoring 

• Collateral and Exception Tracking 

• Executive Reporting 

• Risk Rating Automation 

• Rating Model Administration 

• Portfolio Management 

www.harlandfinancialsolutions.com 

Contact us at: 800-815-5592 

Get the 

free mobile app 

www.gettag.mobi 

©2011 Harland Financial Solutions, Inc. All Rights Reserved. 

CreditQuest is a registered trademark of Harland Financial Solutions. 

www.wabankers.com 14


2011 Women in Banking Conference 

November 18, 2011 

Register yourself and your staff today for the 2011 Women in 

Banking Conference. With over 125 women unanimously declaring 

it a “must attend event” in 2010, the 2011 conference is shaping 

up to be better than ever. Program highlights include: 

• Understanding the Economy and Navigating the Markets, 

presented by Quincy Krosby, Chief Market Strategist, 

Prudential Annuities 

• Managing Your Social Capital Like a Pro, presented by 

Matt Younquist of Career Horizons 

• Economic Prospects and Issues — What to Look for in the 

Future, presented by John Mitchell, Northwest Economist 

and Former U.S. Bank Chief 

• Communicate, Collaborate and Create the Future, presented 

by international speaker and author, Jodi Walker 

The 2011 Women in Banking Conference is cochaired 

by Laurie Stewart, President & CEO, 

Sound Community Bank, and Danielle Burd, 

Executive Vice President, Umpqua Bank. 

Make plans to join us on November 18 at the 

Washington Athletic Club for a day full of empowering 

and educational presentations and net- 

Keynote Speaker 

Quincy Krosby 

working opportunities. Leave feeling refreshed 

and ready to take on the challenges in the banking world today. 

Visit www.wabankers.com for a full brochure and registration 

information. 

Small Business Banker Development Program 

Launching November 2011 

Small businesses are the lifeblood of most communities, just as the ability to meet their communities’ 

financial needs is the lifeblood of many banks. That’s why WBA has created a new 

Small Business Banker education program to help bankers develop the skills necessary to 

meet the unique needs of this increasing important market segment. 

Successfully serving small business customers takes special expertise beyond that of a retail 

banker, but may not require the same level of knowledge as a full-time relationship manager 

in business banking. So we’ve developed a condensed, four-day program that will provide 

useful information about the fundamentals of small business management, underwriting 

small business loans, marketing your bank’s services to small business owners and operators, 

and making effective sales calls. These fast-paced sessions will focus on hands-on learning, 

with case studies and group problem solving rather than lectures. 

The sessions, scheduled for November 9, 10 and 17 and December 8, will be taught by two 

experts in small business banking, John Barrickman, a principal at New Horizons Financial 

Group, and Joe Zavaglia, president of Zavaglia Consulting. These two experts are well-versed 

in all aspects of serving small businesses and can help you develop the tools you’ll need to 

more effectively reach these customers. 

There is no other program available today that is so tailored to bankers who are looking to serve 

their small business customers. Those completing the class will be much better prepared to step 

up to new responsibilities and help their banks succeed in the area of small business banking. 

Program details and registration information available at www.wabankers.com. 

15 


You know the value of a dollar; 

We know the value of a solid benefits plan. 

Exclusively 

Endorsed by 

Trust us to help... 

You can take that to the bank! 

Representing more Northwest financial institutions than any other benefit consultant 

For more information, contact: 

Donna Losch 

253-396-5544 • dlosch@bbtacoma.com 

Visit our website at www.nwfatrust.com


WBA Professional Development... 

“What’s In Your Budget” 

The early bird gets the worm or in the 

case of bankers… the training. Now is 

the perfect time to plan ahead with your 

2012 training budgets to ensure you don’t 

miss out on the professional development 

opportunities offered through the WBA. 

Did you know that we train more than 1,500 bankers annually 

Our educational offerings are unmatched in the Pacific 

Northwest and available in a variety of formats to make 

training convenient, timely, and cost effective for banks 

and bankers. If you don’t find what you’re looking for, please contact us to 

discuss how we can assist your bank and bankers with their professional 

development needs. Visit our website today at www.wabankers.com and 

take a look at the variety of training options available including: 

• Conferences: Network and learn at one of our many conferences. 

Events are focused on emerging trends, current/pending legislation, 

new products and services, and innovative ways to enhance 

profitability and reduce risk, while providing ample time and 

opportunities to network with industry peers. 

• Seminars: It’s traditional “back to class” learning at its best. Our 

seminars offer a traditional setting with professional instructors 

covering subjects such as analyzing financial statements, cash flow, 

and problem loan analysis. 

• Webinars and eLearning: Time and travel tight Get educated 

anytime, anywhere with dynamic webinar offerings and eLearning 

products. We partner with leading developers to offer WBA 

members the best selection of quality training options for bankers 

in any function and at all levels, all on a timeframe that is 

convenient for you. 

• In-House Programs: Reap the benefits of customized, timely, 

and quality training from some of our best-known instructors 

and speakers. Your bank selects the date, time, and location. It’s 

economical, easy, flexible, and we provide a 100% satisfaction 

guarantee. 

• Certificate and Diploma Programs: Taught by professional instructors 

and bank executives, students can enhance their skills 

and knowledge by participating in one of our many college level 

AIB diploma or certificate courses. 

grams to enhance bankers’ career development and help hone the skills 

necessary to lead banks, employees, and communities into the future. 

Our Executive Development Program (EDP) and Small Business 

Banker Development Program (SBDP) focus on accelerating the strategic, 

financial, management and communications skills required for successful 

bank leadership. These intense learning experiences are designed 

to cultivate executive level talent and allow bankers to take their lessons 

learned and put them into practice immediately. Slots for these programs 

fill quickly, so early registration is encouraged. Our SBDP begins this 

November and EDP will begin its third year in January 2012. 

For more information on our professional development offerings, contact 

Danielle Molle, Programs Administrator, at danielle@wabankers.com or 

206.344.3437. 

Upcoming Events 

October 

7 Technology and Fraud Conference 

19 Notary Public, Lynnwood 

20-21 Compliance Conference 

25 IRA Essentials, Ascensus 

26 Advanced IRAs, Ascensus 

November 

2-3 Agricultural Lending in Challenging Environment, 

Richland 

4 CFO Conference 

9 Notary Public, Tacoma 

9 Small Business Banker Development Program 

Kickoff 

18 Women in Banking Conference 

December 

1-2 WBA/WFL CEO/Bank Director’s Conference 

January 

11-12 Executive Development Program Kickoff 

Because strong leadership is vital in the face of economic, regulatory, and 

competitive pressures, the WBA also offers special executive training pro- 

17 



Banks are the Best Workplaces 

The Washington Bankers Association (WBA) congratulates 

all the banks recognized as finalists in Washington’s 

Best Workplaces, an annual program of the Puget Sound 

Business Journal (PSBJ), which highlights companies that 

have discovered the key to being among the region’s best 

places to work. 

WBA member Columbia 

State Bank (www.columbiabank.com) 

received 

high honors and was featured 

among the top-ten finalists in the 

extra-large company category. President 

and CEO Melanie Dressel noted that 

hiring people who value the workplace 

culture is important for survival and it’s 

a priority that must be shared throughout 

the company. 

Columbia’s methodology has proven successful, 

as this year the bank was also 

acknowledged in the PSBJ’s Washington’s 

Best Workplaces Hall of Fame for its 

consistent ranking as a finalist since the 

beginning of the awards program in 2007. 

It was recognized as part of an elite group 

of twelve companies holding that honor. 

Heritage Bank (www.heritagebankwaonline2.com) 

was ranked as the best among 

its competition in the large company division, 

citing employee awards and incentives, 

recognition, and communication as key to 

cultivating a thriving company culture. 


Washington community banks, and WBA 

members, that join Columbia and Heritage 

as finalists in their size category include: 

• Kitsap Bank 

www.kitsapbank.com 

• Peoples Bank 

www.peoplesbank-wa.com 

• Umpqua Bank 

www.umpquabank.com 

• Whidbey Island Bank 

www.wibank.com 

This year’s participating banks comprise a 

select group of companies in Washington 

state that are actively cultivating dynamic 

work environments including high employee 

satisfaction, employee benefits, and 

workplace culture. 

Top winners in each division were featured 

in the August 12 special segment edition of 

the PSBJ. More information on Washington’s 

Best Workplaces is available online at 

www.wabestworkplaces.com.


The Future of Your Business and 

Marketing in 2011 and Beyond 

By John Gubiotti, President and Lead Consultant for Growth Marketing 

Imagine the growth of your business being 

primarily driven by what your customers 

experience and share rather than by the 

size of a marketing budget. 

As social networks and online communities continue 

to grow in popularity, size, and impact, they are fast 

becoming the new commerce. These non-traditional 

influencers are shaping the future of buying behavior 

as more and more consumers turn to trusted friends and networking 

contacts to validate their purchase decisions. 

Consumers who favor social media enjoy participating in online 

conversation threads and public forums. They’re attracted to 

businesses that demonstrate a “human side” and are not afraid 

to share open feedback from their customers. And social media 

minded consumers gravitate toward local businesses that are 

actively involved in the community and let their Facebook and 

Twitter followers know about the good things they’re doing and 

the difference it’s making. 

To provide you with a sense of just how fast social media is growing, 

more than 700,000 new users come to Facebook alone each 

day. That translates to 21 million new users every month, and at 

that rate the estimated number of total users Facebook will amass 

— continued on page 24 

Merchant 

Card 

Processing 

An Agent Bank Program 

Available for 

Pacific Northwest Institutions 

Understanding the importance 

of relationship banking 

• Competitive Pricing 

• Merchant Call Center 

• Full Service Operations & Sales Staff 

• Complete Back Room Support 

• POS Programming & Deployment 

• Underwriting & Risk Monitoring 

• POS & Electronic Check Processing 

• Online Reporting Access 

Located in Tacoma, WA 

For more information call 

1-800-900-1946 

The Best Solution 

for Card Deposit 

Processing Needs. 

A division of 

Member FDIC 

19 



COUNSELOR’S CORNER 

State Receiverships: 

A Banker’s Tool for Faster, Cost-Efficient 

Recovery on Troubled Loans 

By Magdalena Bragun, Lane Powell 

1. General vs. Custodial 

Receiverships 

In a general receivership, the receiver takes 

custody and control of all of the borrower’s 

assets and may operate the borrower’s business 

while administering and liquidating 

the assets of the borrower for the benefit 

of the creditors. General receiverships are 

frequently used when the creditors stand 

the best chance to recover through a liquidation 

of the borrower’s business as an 

operational enterprise. 

Receiverships have become increasingly popular tools for 

developing and implementing cost-effective and expeditious 

workout strategies for troubled loans. Washington’s 

Receivership Act, one of the best in the country, can be an 

effective tool for lenders. 

A 

state court receiver is an independent 

officer appointed by 

the court to manage or liquidate 

the assets of a borrower 

for the benefit of its creditors. In most 

cases, a secured lender selects the receiver 

before the appointment. Banks frequently 

decide to use a receiver to take over the 

borrower’s assets if workout negotiations 

are unsuccessful or if the property might 

be subject to neglect, ineffective management, 

vandalism or unusual liability 

concerns. Washington has one of the most 

advanced receivership statutes in the U.S. 

and lenders can benefit from knowing how 

to use it effectively. 


In a custodial receivership, the receiver 

takes control over selected assets of the 

borrower, such as a condominium complex. 

Custodial receiverships are typically 

initiated by secured lenders in aid of 

the lender’s foreclosure of the liens on 

real property. The July 2011 revisions to 

Washington’s Receivership Act now permit 

lenders to obtain a receiver in aid of 

foreclosure immediately after service of a 

Notice of Default. 

2. Key Receivership Provisions 

Once a receivership order is entered, a 

lender typically monitors but does not get 

involved in liquidating or managing the 

borrower’s assets. The stay of actions by 

most creditors protects the assets while the 

receiver administers the estate. There are 

provisions permitting a receiver to borrow 

funds to finance the receiver’s administration, 

and the lender works with the receiver 

and his counsel to come up with an agreedupon 

budget.


The receiver employs the necessary professionals to administer 

the estate, maintains and preserves the assets, makes sale preparations, 

and communicates with the court and the creditors as 

necessary through notices and orders. Under Washington’s Receivership 

Act, costs of the receivership are entitled to administrative 

priority; these costs include the receiver’s fees, receiver’s 

professionals’ fees, management fees and related expenses. Such 

costs are typically added to the borrower’s secured indebtedness 

and satisfied from proceeds of the receiver’s disposition of the 

assets. Like a bankruptcy trustee, the receiver has the ability to 

reject, assume or assign contracts, sell property free and clear of 

liens, and to abandon property as appropriate. The receiver may 

make interim distributions to secured lenders throughout the 

duration of the receivership. 

It is not surprising that more secured lenders 

are choosing receiverships and that many more 

are likely to do so in the months to come. 

Ability to Foreclose. Receiverships allow the petitioning lender 

to retain the ability to foreclose without court order while the 

receivership is pending. 

In sum, the Washington’s Receivership Act enables secured lenders 

to: 1) quickly gain access to the borrower’s assets, 2) have an 

independent third party, usually of the lender’s choosing, proceed 

with an orderly liquidation of such assets, and 3) protect the interests 

of creditors pending such liquidation, without incurring 

the significant costs of a bankruptcy or taking on the risk of the 

property management through other lender-managed solutions. 

Consequently, it is not surprising that more secured lenders are 

choosing receiverships and that many more are likely to do so in 

the months to come. 

Magdalena Bragun is an attorney at Lane Powell, where she 

focuses her practice on commercial litigation, receivership 

law, preference litigation and creditors’ rights. She has 

represented secured and unsecured creditors, receivers, 

official committees, plan administrators and multinational 

entities in a wide range of industries. Ms. Bragun regularly 

appears as counsel in receivership actions, bankruptcies 

and adversary proceedings. She can be reached at 

bragunm@lanepowell.com or 206.223.6259. 

If, at the conclusion of the receivership, the borrower’s debt exceeds 

the value of the assets realized by the receiver, many lenders 

seek a deficiency from the borrower. While this avenue may not 

be available in receiverships that culminate with a foreclosure, 

it is certainly common in receiverships involving the sale of an 

operating business. 

3. Advantages of a Receivership 

Some of the most attractive features of receiverships include their 

cost-effectiveness (including the ability to select the receiver and 

negotiate the receiver’s fees), speedy recovery with interim distributions, 

avoidance of liability, and retention of foreclosure rights. 

Lower Cost. The receiver’s fees are typically less than the bankruptcy 

trustee’s and are negotiated between the lender and the 

receiver before the appointment (a choice of hourly compensation, 

monthly fixed fee, contingency or a combination thereof). Because 

the borrower’s property is under control of the receiver, not the 

bank, the lender’s costs and risks associated with managing the 

property (including liability for hazardous material clean-up, 

condominium warranties, maintenance expenses, and so on) are 

eliminated or mitigated by the receivership. 

Faster Recovery/Interim Payouts. Receiverships have a much 

shorter lifespan than bankruptcies. Notice periods are shorter 

and more limited under Washington’s Receivership Act than the 

Bankruptcy Code. Moreover, as the receiver sells assets of the 

estate, secured lenders may receive interim distributions. 

Finally a cloud solution with all 

the cost savings and flexibility 

...yet compliant. 

Powered by IT-Lifeline 

(866) 394-0101 | goblackcloud.com 

flexibility 

meets security 

21 



Pacific Coast Banking School 

The Premier National Graduate School of Banking TM 

2011 WBA/ PCBS “Rise Above the Rest” 

Scholarship Awarded 

Lisa Richardson 

The Washington Bankers Association is 

pleased to announce Lisa Richardson as 

the 2011 “Rise Above the Rest” scholarship 

recipient to Pacific Coast Banking School. 

To support furthering the education of 

our high-potential leaders in banking, the 

Washington Bankers Association has partnered 

with Pacific Coast Banking School 

(PCBS) to offer an annual tuition scholarship 

for a first-year PCBS student to one 

Washington banker who demonstrates his or her high potential 

in the industry through bank and community accomplishments. 

Ms. Richardson, an Assistant Vice President and Loan Operations 

Supervisor, has been with Future Bank since 2007 and 

in the banking industry for a decade. She is also the current 

president of the RMA New Professional Group. 

Ms. Richardson’s inspiring enthusiasm and dedication makes 

her a favorite among co-workers and customers. She has demonstrated 

her desire for further education in the industry by 



participating in the WBA Executive Development Program, a 

12-month program designed to motivate and accelerate the development 

of Washington banking industry leaders. This is an 

excellent preparatory program for Pacific Coast Banking School 

and candidates are strongly considered for this scholarship after 

having completed this program. 

Serving Northwest Financial Institutions Since 1948 

PCBS has helped over 10,000 high-potential leaders in the 

industry since its inception in 1938, refining their financial 

management and leadership skills. Recognized industry experts 

deliver cutting-edge curriculum which offers in-depth analysis 

and practical answers to today’s critical challenges faced by 

bankers from all aspects of banking. Students enroll in a threeyear 

program, which includes a two-week resident session each 

August for three years. Ms. Richardson will be part of the 2011 

session, August 21 – September 2, held on the University of 

Washington campus in Seattle, Washington. 

SAFE DEPOSIT BOXES 

NIGHT DEPOSITORIES 

DRIVE-UP TUBE SYSTEMS 

DEPOSITORY SAFES & VAULTS 

VIDEO SURVEILLANCE 

SECURITY ALARMS 

ACCESS CONTROL 

PHOTO ID & BADGING 

Visit one of our three Northwest branches today! 

Eastern Washington & 

Northern Idaho 

425 W Second Ave. 

Spokane, WA 99201 

Phone: 509-624-3152 

Fax: 509-624-6909 

Toll Free: 1-800-448-8338 

Western 

Washington 

3051 East Valley Rd. 

Renton, WA 98057 

Phone: 425-988-6500 

Fax: 425-988-6501 

Toll Free: 1-888-333-3921 

www.AlliedFireandSecurity.com 

Oregon & 

Southern Washington 

530 NE Couch St. 

Portland, OR 97232 

Phone: 503-281-1177 

Fax: 503-288-1539 

Toll Free: 1-800-729-3925 

For 30 years, we’ve been alongside our participants through calm seas and 

rough waters. Today you are faced with a changing debit market. As we face this 

challenge together, know that we’ll be by your side as an advocate and trusted 

advisor – empowering you to make smart decisions and build a successful debit 

program. We see debit opportunities in everything we do, because it’s all we do. 

Stay informed by visiting our Durbin Amendment Resource Center at 

pulsenetwork.com/debitregs 

Collaboration 

Professional Development 

Customer Service 

A Discover Financial Services Company 

pulsenetwork.com/debitregs 

©2011 PULSE 

23 



INDUSTRY NEWS 

Columbia Bank Appoints Dakoda 

McKennon as Branch Manager 

Columbia Bank announces Dakoda McKennon as 

branch manager of the Port Angeles branch. In his 

new position, Dakoda will be responsible for expanding 

Columbia Bank’s presence within Clallam County 

to prepare for the opening of a Freestanding Branch. 

Dakoda 

McKennon 

“Dakoda has a premier customer service philosophy 

of going above and beyond normal expectation for customers and 

building a true relationship, which is vital to our philosophy and 

to our clients,” said Barbara Kaye, SVP and Retail Manager for the 

Olympic Peninsula for Columbia Bank. “With the drive to be active 

in the community, he will become a wonderful addition to our community, 

customers and branch.” 

Most recently, Dakoda worked for JP Morgan Chase and Washington 

Mutual respectively as a Branch Manager. He began his career at 

Washington Mutual as a High School Intern with the HIP program, 

while he attended Port Townsend High School. Prior to returning 

in 2007 as a full-time employee, Dakoda studied at Linfield College 

and the University of Washington. 

Dakoda has resided in Sequim for the past two years with his wife 

Brianna and their little boy, Brady. In his free time he enjoys coaching 

his U-14 Baseball team. 

The Future of your business — continued from page 19 

by 2011 will be well over 650 million. In fact, only the countries of 

China and India have bigger populations than Facebook. 

In 2011 and beyond, more and more businesses will be jumping 

on the social media bandwagon and weaning themselves off using 

traditional marketing channels. This trend will gain momentum 

as consumers find they’re better informed after tapping into their 

social networks rather than relying on what companies convey in 

advertising campaigns. “Tell a friend about us” will take on an all 

new meaning in the coming years as friends tell friends who will 

tell friends about their experiences and preferences and businesses 

will either thrive or struggle based on their ability to keep the social 

media conscious customer satisfied. 

In order to grow and thrive in the coming decade, brands must excel 

at the fundamentals of good business and embrace social networking 

as the preferred marketing channel. Great products backed by 

exceptional customer service will be the norm for those businesses 

that top consumers’ raves and faves list. Yes, it’s a return to business 

basics and a departure from perception is reality. Consumers 

will base their brand loyalty on what they actually experience and 

learn from those in their social network, and businesses will find 

it increasingly difficult to persuade buyers based solely on their 

marketing messaging. 

The future of marketing as a social network driven phenomenon 

is here to stay. It’s an exciting time and perhaps a bit scary for 

those businesses that don’t have a clear understanding and plan 

in place for competing and succeeding in the new commerce. 

You’d be well served to find a knowledgeable and trusted business 

coach that can provide the necessary insights and guidance 

in 2011 and beyond. 

For more insight into business growth and marketing, visit http:/www.growthmarketing.com. 

John Gubiotti is President and Lead Consultant for Growth 

Marketing - specializing in business growth and marketing consulting for 

small businesses. Learn more about how Growth Marketing can grow your 

business by contacting us at http://www.growthmarketing.com/contact.html. 

WBA staff celebrates 

Jim’s Birthday 



The Federal Home Loan Bank of Seattle 

provides liquidity, funding, and services that 

can help your institution make more housing 

and business loans at more competitive rates. 

We offer: 

• Competitive rates on a wide range of 

wholesale funding products 

• Customized funding solutions for managing 

your interest rate risk 

• Reduced-rate funding for affordable 

housing and economic development 

• The ability to optimize your balance sheet 

for contingency liquidity purposes 

Lending Strength ® 

1501 Fourth Ave., Suite 1800, Seattle, WA 98101-1693 • 800.973.6223 toll free • 206.340.2300 tel • www.fhlbsea.com 

Teaching The Business of Banking 

Curriculum Designed 

for Performance! 

Session Dates: 

August 19 – 31, 2012 

Location: 

University of Washington | Seattle, WA 

www.ThePCBS.com 

At Pacific Coast Banking School, we believe success requires a mastery of three 

critical areas: Risk Management, Financial Performance, and Leadership. Our 

in-depth curriculum addresses essential analytical and strategic components in 

each arena, designed to meet banking’s greatest challenges head-on. Take your 

career to the next level while experiencing the richest graduate-level banking 

education in the industry today – PCBS! 

RETAIL BANKERS | COMMUNITY BANKERS | BUSINESS BANKERS 425.278.0250 

25 



Attorneys 

Davis Wright Tremaine LLP............................................ Page 14 

Foster Pepper PLLC........................................................... Page 6 

Graham & Dunn.................................................................. Page 8 

Lane Powell........................................................................ Page 2 

Business Continuity & Disaster Recovery 

IT-Lifeline.......................................................................... Page 21 

Card Processing 

Merchant Card Services.................................................. Page 19 

Cash Flow Funding 

Northrim Funding Services............................................Page 27 

Correspondent Banking 

United Bankers’ Bank...................................................... Page 10 

Credit Risk Management Solutions 

Harland Financial Solutions............................................ Page 14 

Education 

Pacific Coast Banking School.........................................Page 25 

Employee Benefits 

Northwest Financial Associations’ 

Employee Benefit Trust................................................... Page 16 

Financial Services 

Federal Home Loan Bank................................................Page 25 

Pulse..........................................................................Page 22 & 23 

Sandler O’Neill + Partners............................................... Page 3 

Foreclosure Processing 

TD Service........................................................................... Page 9 

Retail Investment Programs 

Elliot Cove Capital Management...................................Page 28 

Security 

Allied Fire & Security.......................................................Page 23 

Redhawk Security............................................................Page 26 

Transfer Agents 

OTR.................................................................................... Page 11 

INFORMATION SECURITY ASSESSMENT SERVICES 

for Community Financials 

Regulatory Compliant 

Security testing adheres to industry 

standards and regulatory guidance for 

FFIEC and GLBA compliance. 

Risk-Based 

A risk-based approach is used to determine 

controls for information systems. 

REVIEW 

ADMINISTRATIVE CONTROLS 

EXTERNAL 

PENETRATION TESTING 

Modular 

Modules enable the client to choose 

components or phase testing: 

Administrative / Physical / Technical Controls Review 

Penetration Testing, Vulnerability Scanning, Social Engineering Testing 

BSA / AML Independent Review 

MODULAR 

APPROACH 

TECHNICAL CONTROLS 

VULNERABILITY SCANNING 

SERVICE 

REVIEW 

REGULATORY 

COMPLIANT 

ONLINE 

COLLABORATION 

• 

RISK-BASED 

INTERNAL SERVICE 

SOCIAL ENGINEERING TESTS 

PHYSICAL CONTROLS 

REVIEW 

BSA/AML 

REVIEWS 

Redhawk Network Engineering 62958 Layton Ave., Suite One, Bend, OR 97701 

info@redhawksecurity.com • 866-605-6328 • www.redhawksecurity.com 


B 

A 

With our creative approach to cash flow funding 

and workout situations, Northrim Funding 

Services offers a partnership you can bank on. 

In today’s business credit environment, many of your commercial 

borrowers may find that they are unable to maintain compliance 

with loan covenants and agreements. Others may experience a 

deteriorating financial position that places the company in jeopardy 

of exceeding their approved loan advance ratios to meet payroll, 

taxes and operating expenses. 

Working together, Northrim Funding Services may provide the 

operating capital that your customers need, while you retain the 

longer-term deposit, fee-based services and client loyalty. 

Bankers helping bankers. 

Dan Lowell 

Senior Vice President 

and Division Manager 

(425) 453-1105 

dan@northrimfs.com 

Paul Kirschner 

Vice President and 

Relationship Manager 

(425) 453-1105 

paul@northrimfs.com 

Northrim Funding Services 

170 120th Avenue NE, Suite 202 

Bellevue, WA 98005 

Telephone: (425) 453-1105 

Fax: (425) 453-1205 

northrim.com

PRSRT STD 

U.S. POSTAGE 

PAID 

SALT LAKE CITY, UT 

PERMIT NO. 508 

THIS MAGAZINE IS DESIGNED AND PUBLISHED BY MEDIA COMMUNICATIONS GROUP 1.888.745.4003 

Endorsed by

Your Photo Here - Media Communication Group

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?