Commencement Bank Celebrates 10 Years!

A message from President & CEO H.R. Russell

In 1977, I began my banking career with a savings bank located in Downtown Tacoma at 1102 Commerce Street. Today, as the President of Commencement Bank, my office remains in Tacoma and is ironically located in the same building on Commerce Street. As a young trainee, I could not have imagined that, 39 years later, I would help create what has become one of the nation’s healthiest new community banks. Commencement Bank was chartered in 2006 with the vision to become a “high-touch, high-tech” bank with an unwavering commitment to become a strong community partner. 

Fast-forward ten years, and I am proud to say that we have accomplished our goal. Despite the recession, and the fact that Pierce County-headquartered banks declined from ten to just three remaining today, Commencement Bank has grown to a $335 million bank with four locations and 50 employees.  Contributing to our growth was the completion of our merger with Olympia-based Thurston First Bank in October 2016.  The success of Commencement Bank would not have been possible without our traditional approach to banking, the hard work and dedication of our staff and board, the continuous support of our shareholders, and our loyal clients who believe in the value of relationships.

Throughout all of our accomplishments and challenges, one thing has remained consistent: we have never strayed from the customer-focused philosophy that the bank was built on. I will not pretend to know what the next ten years will bring, but I do know that as long as our customers and community are at the heart of every decision we make, we will consider our bank successful.

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