SNOHOMISH – First Heritage Bank will ring in the new year with a new leader.
The locally owned bank on Monday named Cathy Reines to succeed Bob Bryce, who has served as chief executive officer for 17 years. Bryce will take over as chairman of the board on Jan. 1.
The bank operates branches in Everett, Lynnwood, Marysville, Monroe, Arlington and Snohomish, where it also has headquarters.
“Leadership is a primary reason for the success First Heritage Bank has enjoyed over many years,” said Adrian Taylor, the bank’s board chairman, in a prepared statement. “Our founding leaders have contributed greatly to a healthy past. New leaders, like Cathy, will ensure a healthy future.”
First Heritage has roughly $140 million in assets and ranks in the 88th percentile in income for banks its size, according to a national report. It also has been one of the region’s biggest lenders of federally backed Small Business Administration loans in recent years.
Associated with First Heritage for nearly a decade, Reines was appointed to president last year as part of the bank’s succession plan. She credits Bryce for devising a successful strategy for First Heritage – one she plans to carry on.
“We are very, very focused on small business loans and small business administration,” Reines said. “That’s really been our niche and will continue to be.”
Reporter Michelle Dunlop: 425-339-3454 or mdunlop@heraldnet.com.
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