Bank of the Northwest formed

The economic recession has brought changes to yet another Snohomish County bank — the Bank of Everett. Rather than maintain individual bank names tied to each bank’s community, the Bank of Everett and others in the same banking group, including the Bank of Issaquah, Bank of Tacoma and Bank of Bellevue, will merge to operate under a single name: the Bank of the Northwest. Bank of Everett CEO Mike Deller, who will lose his CEO title in the merger, said the move was made to strengthen the banks that were formed in 2006 under a single name for a better return on investments by shareholders. Deller will become a member of the board of directors of the new Bank of the Northwest.