The economy may be flagging, but in Tacoma, WA, there is certainly reason for hope. And if you are thinking about relocating to this lively city south of Seattle, more careers seem to be generating, and the quality of life is high. Encouraged by Tacoma’s ongoing Renaissance and undaunted by the existence of 1 of the biggest state-based banks, later this season two startup banks are hatching plans to open up in the City of Destiny. The new finance institutions, the lender of Commencement and Tacoma Bank, aim to open branches in Tacoma’s downtown core, dealing with Tacoma-based Columbia Bank and other established players.
The banks’ market leaders say a booming Tacoma economy, plus a lack of new players, will deliver substantial business opportunities. Hal Russell, who is slated to serve as Commencement’s chief executive and chief executive officer. Russell is a veteran of Columbia Bank or investment company, where he spent 11 years and was a professional vice chief executive before stepping down 2 yrs ago. THE LENDER of Tacoma’s innovator, Michael Hansch, has close ties to the area also.
Hansch spent more than 20 years as older vice president and supervisor for the southwest Washington arm of Bank or investment company of America’s private bank or investment company division. He retired from Bank or investment company of America earlier this season. Many stake in the lender of Tacoma will be held by Capitol Bancorp Ltd., which is headquartered in Lansing, Mich., and Phoenix.
Capitol is experienced in developing …