Business

State's top bank regulator named CEO of Islanders Bank

The board of directors of Islanders Bank today announced that Brad Williamson has been named president and chief executive officer of Islanders Bank, a subsidiary of Banner Corporation.

Williamson will replace interim president and Chief Executive Officer Brian Brown, who will continue to serve as board chairman. Williamson will also join the bank's board of directors.

Williamson is the former director of banks for the Washington State Department of Financial Institutions, which regulates all Washington State chartered banks, trust companies and business development companies. Since 2006, he led a staff of 30 examiners supervising and examining all chartered financial organizations to ensure ongoing safety and soundness and compliance with applicable regulations.

Prior to joining the Department of Financial Institutions, Williamson was managing director for RSM McGladrey’s Northwest Risk Management Practice, headquartered in Tacoma.

He has a business administration/finance degree from California State University and is a graduate of Pacific Coast Banking School.

“Brad Williamson brings a wealth of financial experience and has an outstanding reputation in the financial services industry," Brian Brown said in a press release. "We are very excited about having someone with Brad’s industry knowledge, respect, and skill set join our local management team at Islanders Bank. His knowledge of banking, finance, credit administration and risk management is exceptional. The board and management are excited about the expertise, energy and professionalism that Brad brings to our organization.”

Islanders Bank is a Washington-chartered commercial bank with three locations in San Juan County. A community-based financial institution, Islanders Bank offers a wide variety of commercial banking services and financial products to individuals and businesses in its primary market area.

“I am excited to be leading a team of professionals that provides superior banking services at such a healthy financial institution as Islanders Bank,” Williamson said.

Islanders Bank is a subsidiary of the Banner Corporation, a $4.4 billion bank holding company operating two commercial banks in Washington, Oregon and Idaho. The banks serve the Pacific Northwest region with a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans.

“Having Brad join us is a real advantage," said Mark Grescovich, president and CEO of Banner Corporation. "He is an outstanding regulator and will be just as impressive a leader at Islanders Bank for us. Islanders Bank has been highly successful and we are confident that Islanders will continue to contribute to Banner’s success.”

Islanders Bank became a wholly owned subsidiary of Banner Corporation on May 1, 2007, and will continue to operate as the only state-chartered commercial bank headquartered in San Juan County with a local board of directors and local management.

Visit Islanders Bank on the Web at www.IslandersBank.com.

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