The Bank of Washington, based in Lynnwood, has appointed Martin A. Steele as its new president and chief executive officer.
He is well known in the financial services industry and brings a wealth of commercial banking experience and leadership credentials. Chairman of the board, Gary Schmitt, said, “We’ve weathered the financial storm and are now poised for growth. We feel extremely fortunate to gain a veteran banker of Marty’s caliber to take the helm and inspire our community banking team going forward.”
Steele’s banking career spans more than 30 years, holding senior positions in private, commercial and investment banking throughout the Pacific Northwest. Most recently, he was president and CEO of Charter Bank, a wholly-owned subsidiary of Boston Private Bank & Trust, until its sale in May of 2013.
Steele led a successful turnaround while at Charter and grew their loan portfolio by more than 100 percent. Previous to that, he held management positions with The Commerce Bank of Washington, Windswept Capital and Bank of America.
Steele is a graduate of Yale University where he earned his master’s degree. He completed his undergraduate studies at Rutgers University and is also a graduate of the College for Financial Planning. Steele is a current board member with Imagine Housing, Bellevue Chamber of Commerce and The Salvation Army of King County.
The Bank of Washington is locally owned and headquartered in Lynnwood. It provides commercial loans, deposit accounts and other quality local banking services to businesses and individuals at its five branches in Edmonds, Lynnwood, Mukilteo, Everett and Redmond. For more information about the bank, visit www.the-bank.com