EVERETT — Coastal Community Bank was one of two community banks honored for Small Business Administration lending efforts at the SBA awards gala last month in Seattle.
The SBA recognized Coastal Community Bank and Mountain West Bank for volume of SBA loans in the 2015 fiscal year. Both banks performed well ahead of their peers.
“We are proud to share the Community Bank award with another true community bank on the Eastside of the state and Northern Idaho,” said Greg Starup, SBA manager at Coastal Community Bank, in a statement. “We are impressed with their expertise in the Inland market, while we focus on the greater Puget Sound area.”
Coastal Community Bank led Washington community banks in total dollar volume by approving more than $25.7 million dollars, which funded 52 small business loans in 2015.
Mountain West Bank, headquartered in Coeur d’Alene, Idaho, approved 101 SBA loans totaling nearly $23.9 million dollars. The SBA ranked all of the banks based on number of loans; Mountain West Bank ranked third overall and Coastal ranked seventh by that measure.
“Our success in SBA Lending speaks to the efforts of our entire bank from lenders to credit teams to all the bankers talking up our SBA presence in the branches and out in the community,” Starup said in the statement. “This award is a testament to our efforts to fight for small businesses in our area.”
Coastal Community Bank was founded in Everett in 1997 and has 12 offices in Snohomish and Island counties. For more information, visit the company’s website at www.coastalbank.com.