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Two more Pacific Northwest banks fail

Discussion in 'Oregon' started by OSU Beavers, Jan 23, 2010.

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  1. OSU Beavers

    OSU Beavers Elite Member

    6
    Jan 10, 2007
    Professional Status:
    Licensed Appraiser
    State:
    Oregon
    Oregon's Columbia River Bank has been acquired by Columbia State Bank of Tacoma, Wash.

    Evergreen Bank of Seattle was acquired by Roseburg, Oregon based Umpqua Bank — significantly boosting Umpqua’s effort to grow in Puget Sound.

    Customers of Columbia River and Evergreen will still have access to debit and online accounts through the weekend, and branches of the two institutions will reopen under their new names on Monday and nothing will have changed.

    I don't know about Evergreen, but CRBs home lending was the closest I've seen to a high pressure commission based mortgage broker.

    http://portland.bizjournals.com/portland/stories/2010/01/18/daily55.html
     
  2. Green Hornet

    Green Hornet Senior Member

    0
    Dec 29, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Washington
    Beaver,

    I am not sure if you have a Columbia Bank in Portland. If what you say about CRB, then something will change. Columbia Bank has a very strong corporate culture. They WILL change CRB for the better.

    My wife and I have been banking with a version of CB for the last 30 years. Bill Phillip started and ran Puget Sound Bank for decades, then sold it off, I think to Key Bank, about 20 years ago.

    He and his group then started Columbia Bank. These folks know what they are doing.

    I have many of my accounts with CB. They are the friendliest bank in town and the most responsive. The tellers truely seem happy. Fees and interest rates are competitive.

    When I have to go into a Wells Farge, B of A, US Bank, or any of the national folks, it is creepy after using Columbia Bank.

    Something odd...Columbia Bank partners with Evergreen Home Loan for its mortgage purposes. I wonder if EHL is part of Evergreen Bank?
     
  3. seattle98116

    seattle98116 Junior Member

    0
    Apr 19, 2007
    Professional Status:
    Certified General Appraiser
    State:
    Washington
    No, EHL is not part of EvergreenBank. EB was spun off of PEMCO and has been around for 36 years.

    CSB is a good place too; friend of mine became the cheif appraiser there last year. They seem to run a really tight ship.

    Justin
     
  4. Green Hornet

    Green Hornet Senior Member

    0
    Dec 29, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Washington
    Justin,

    That is good to hear that they are not associated with EB. Now that you mention it, I do remember the EB sign on the north/east side of the PEMCO building facing I-5.

    Congrats to your friend. For two years now I have been trying to make in roads to CB's appraisal panel. I have worked through my branch and a branch manager in my Rotary Club. No luck. Each time I get the reply that they have just reviewed their panel and are not looking for additional appraisers. A bit frustrating given my loyalty to the bank as a client. Even if I were not added to the panel, it would be nice to have a chance to prove myself and/or submit my qualifications.

    That is basically my only gripe with them in 25 years. I try to keep my business local, but the way I am getting the cold shoulder as a business person makes it more difficult.

    Maybe I will see you at some of the Seattle AI meetings. I do not get up north as often as I would like.. my old stomping grounds as a trainee years ago.
     
  5. seattle98116

    seattle98116 Junior Member

    0
    Apr 19, 2007
    Professional Status:
    Certified General Appraiser
    State:
    Washington
    That seems to happen around here. I ran into that over the years with several local institutions; I just had to keep being persistent with many of them and finally got some breaks. Some happened to be due to attending local meetings and talking to appraisers at those institutions and getting a break. Hang in there.
    Justin

    Justin Slack, SRA
    Seattle, WA
     
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