Whidbey Island Bank to Open Woodinville Branch

Washington Banking Company, the holding company for Whidbey Island Bank, announced in a news release today the opening of an office in Woodinville, later this year.

The new branch will be located at 13930 NE Mill Place Suite 112, Woodinville, WA 98072.

"The Woodinville office will expand our branch network in East King County and offer the Whidbey style of banking to the many business and retail customers in the fast-growing Eastside community," said Bryan McDonald, president of Whidbey Island Bank in a news release. "We have already started to reach out to Eastside business owners to introduce our competitive suite of lending solutions."

The expansion will increase the number of Whidbey Island Bank branches to 31. The new office is expected to open its doors before the end of the year, pending regulatory approvals.

Washington Banking Company is a bank holding company based in Oak Harbor, Washington, that operates Whidbey Island Bank, a state-chartered full-service commercial bank. Founded in 1961, Whidbey Island Bank provides various deposit, loan and investment services to meet customers' financial needs. With its two FDIC-assisted acquisitions in 2010, Whidbey Island Bank currently operates 30 full-service branches located in six counties in Northwestern Washington. In June 2009, Washington Banking was added to the Russell 2000 Index, a subset of the Russell 3000 Index. Both indices are widely used by professional money managers as benchmarks for investment strategies. For each of the past three years Washington Banking was ranked the top financial institution in the Pacific Northwest region in the Seattle Times' "Best of the Northwest" annual review of public companies.