Daily Archives: February 16, 2010

A conversation with American Marine’s new owner

The Tacoma News Tribune recently sat down with Columbia State Bank CEO Melanie Dressel to talk about a few of her recent acquisitions, including Bainbridge’s American Marine Bank.

You can read the Tribune’s Q & A here.

A few highlights from the conversation:

– Dressel said there wasn’t much “grieving” at American Marine and Columbia River Bank, which was also acquired last month by Tacoma-based Columbia State.

– Dressel said about 20 percent of Columbia River’s employees will be laid off. No word on whether or not some jobs at American Marine will be cut.

“We will be sitting down with American Marine folks soon,” she told the Tribune. “The greatest concerns we heard was, ‘Do I have a job?’ We wanted to make the right decisions.”

– As for how her bank stayed strong while other banks failed, Dressel said Columbia State “maintained a traditional balance sheet” that was not overly dependent on residential loans.

Photo: Lui Kit Wong, Tacoma News Tribune