Business

Evergreen Bank will expand into FWay

By PAT JENKINS

Editor

A new branch of Evergreen Bank is scheduled to open next month in Federal Way.

A bank spokeswoman said construction began in July at the branch location on South 320th Street, one block west of Pacific Highway South. The opening is set for mid-September.

Evergreen Bank is a subsidiary of EvergreenBancorp, a locally owned, independent commercial banking institution. Founded in 1971, its other offices are in downtown Seattle, Lynnwood and Bellevue. Federal Way will be the fourth branch.

Marian Scott, who’s been active in the community through the Chamber of Commerce and schools, will serve as branch manager in Federal Way, supervising three employees. She has lived in Federal Way for 20 years and has 19 years of banking experience.

EvergreenBancorp president Gerry Hatler, who also lives in the Federal Way area, said he has wanted for several years to launch a branch in the South Sound area.

“The key to getting more recognition is to expand our market. We looked from Tukwila to Tacoma and found a great site in Federal Way,” Hatler said of the 2,700 square feet of existing commercial space at 1300 S. 320th St. The building, which is being remodeled to suit the bank’s purposes, is highly visible on a heavily traveled street, he noted.

Personal and business banking services will be available.

Hatler, a Montana native who previously managed 30 Wells Fargo branches, has been with Evergreen for five of the company’s 32 years.

Total assets for EvergreenBancorp reached $174 million by June 30, the end of its second quarter of the fiscal year. Assets were at $166 million at the same point a year ago, according to figures released by the company (www.evergreenbank.com).

The company's stock trades under the EVGG symbol.

Editor Pat Jenkins: 925-5565, editor@fedwaymirror.com

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