When Glenn Bayha walks into Mountain Pacific Bank, the tellers greet him by name.
He even feels welcome to pop in for an impromptu chat with Mark Duffy, Mountain Pacific’s founder and CEO, to touch base and glean advice.
“For me, banking is and should be completely relationship driven. That’s absolutely everything and it’s not typically something you get unless you’re dealing with a small, local bank,” says Bayha, owner and president of Cascade Door and Hardware.
Bayha’s business and Mountain Pacific Bank have grown together. They are both celebrating 10-year anniversaries in 2016. Bayha was one of the bank’s first clients and credits its personalized service for helping grow Cascade Door and Hardware. From credit lines to loans for new buildings and vehicles, he considers Mountain Pacific essential to his success.
“They care about my success and I care about theirs. It’s not just a banking relationship. I view it as a business partnership,” Bayha says.
For Mark Duffy, investing in relationships is as important as investing dollars.
He began his banking career as a teller in 1979. The experience of face-to-face customer service remains the foundation for his leadership as CEO.
With 40 employees spanning three branches — Everett, Lynnwood and Ballard — he ensures that everyone embodies the company’s ethos.
As of May, Mountain Pacific’s total deposits were $167 million. While their retail locations offer personal banking, Duffy’s vision has always strongly emphasized business lending.
“I’ve been a commercial lender for over 30 years. I think one of the most important things is being able to help small businesses — not just through loans, but being an adviser,” Duffy says.
“I tell our customers to use your banker as a resource. We don’t charge by the hour.”
Being small and focused allows Mountain Pacific to be nimble and offer unique services.
The bank offers mobile banking whereby it picks up deposits from business partners. Bayha uses it three times weekly.
Duffy cites it as an efficient way for a bank with minimal locations to serve a larger geographic area.
Such strategizing helped Mountain Pacific not only survive the economic downturn of recent years, but placed it in a position to now thrive.
According to Duffy, Mountain Pacific is one of the state’s fastest-growing banks with 20 percent annual gains for the last several years.
During the downturn, it weathered the storm by shrinking the bank.
The bank focused on existing customers and stopped lending to new ones. They also raised capital and, as Duffy says, “got creative” with construction development.
Mountain Pacific oversaw the building of more than 70 homes, which maximized returns, rather than selling lots outright.
“Being one of the few remaining community banks helps us. We’re trying to fill a hole left from the economic downturn. When I started, there were 14 banks headquartered in Snohomish County and now there are seven. The area lost a lot of banks,” Duffy says.
There is a current upswing as regional banks recognize opportunities in the Everett area.
Skagit Bank, headquartered in Skagit County, and Peoples Bank, headquartered in Whatcom County, are expanding to Everett.
In April, Skagit Bank opened an Everett loan production office.
Peoples Bank is further expanding its Everett footprint. In addition to a branch location which opened in 2015, a flagship financial center is slated to open this summer.
The resurgence of regionally owned banks in Everett hopefully bodes well for consumers. Bayha knows a bank like Mountain Pacific understands firsthand what is required to navigate rough waters.
“The difference between community and big banks is when you have troubles, the big banks often kick you out as quickly as possible — even over a little hiccup,” Duffy says.
“A community bank like us knows you and will stand by you. We will help you through tough times.”
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