After beginning operations in December 2006, Commencement Bank has achieved noteworthy growth during a slumbering economy. As a result, the financial organization is expanding operations in a new location.
“During our search for a new location, we discovered that clients of ours owned what is known as the ‘bank building’ at 1102 Commerce Street,” said Hal Russell, Commencement Bank president and CEO. The downtown Tacoma site was most recently Union Bank. Russell notes that one of the appealing things about the location was that both he and Jennifer Nino, Chief Financial Officer, worked in the building earlier in their careers. It was a perfect match and the process ensued.
The relocation means that Commencement Bank will have more retail space, expanding from 6,200 to 12,500 square feet, according to Russell. The architect Jon Graves has designed a boardroom with a separate side entrance to the street. This means the boardroom will be available to nonprofit organizations that need space to conduct their board meetings. “This speaks to our commitment to giving back to the Tacoma community,” said Russell.
At five years old, Commencement Bank is one of the highest capitalized banks in Washington state. When asked how the bank has experienced such sizable growth, Russell said, “We have been doing a lot of shoe leather work and we have a great customer base. This, coupled with a strategic model that emphasizes the leveraging of technology and e-services, has moved our operations forward.”
Commencement Bank will share the newly designed location with the public during its grand opening in April 2012.
Visit the newly opened location at 1102 Commerce in downtown Tacoma. 253.284.1800 | commencementbank.com