Skagit State Bank is making plans to open a new branch in downtown Bellingham while closing two offices farther south.
An exact location for the new Bellingham branch can’t be announced until final approval has been given by regulators, but it will be in the downtown district, said Doug Noblet, vice president at the bank. If all goes as planned, Noblet expects the new branch to open later this spring and have between six and 10 employees. Along with being a full-service retail branch, it will have a commercial lending department.
The bank also announced that it was closing two offices. One is on Carter Street in Sedro-Wooley and the other is in downtown Stanwood. Those closures will take place on Friday, May 2.
“Closing offices is never an easy decision, however in rare circumstances changes in the marketplace make them necessary. In no way were these decisions a reflection of the efforts of our dedicated staff employed at these locations,” said CEO Cheryl Bishop in a news release.
Skagit State Bank currently has two offices in Bellingham and one in Lynden.