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| Kitsap Bank |
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History:
The Early Years
In the spring of 1908, Jacob Furth, a Seattle Financier, and three Port Orchard men, George E. Miller, Peter Nordby and Superior Court Judge John B. Yakey organized Kitsap County Bank. The Bank opened its doors on August 8, 1908 on the corner of Bay and Frederick Streets in Port Orchard, Washington.
Of the four founders, it was Peter Nordby, a Norwegian immigrant, who would be distinguished as the first president. Prior to his arrival in Port Orchard, Nordby founded the first settlement on Marrowstone Island in 1891, located just a few miles southeast of Port Townsend—the area known today as Nordland.
In 1915, Thomas Ross took over the reins of the bank as the second president. Ross was an immigrant from Australia and had relocated to Port Orchard in 1871. Prior to becoming president, Ross was a veteran of civic affairs, instrumental in forming the Port Orchard Athletic Club. He also served as Clerk of the District Court, was elected Kitsap County Auditor, and later served as Kitsap County Treasurer.
Otto Strizek was the third president, serving from 1921-1930. A prominent Seattle businessman who had interests in several banks, Otto also served as the Czechoslovakian Counsel.
The Langer Years
In 1917, Frank Langer visited the Puget Sound region from his home in North Dakota. He loved the beauty of the region, and vowed to return after graduating from Harvard Law School. After serving in World War I, where he received a Purple Heart for his service, Frank did return. He purchased controlling interests of Kitsap County Bank and First National Bank of Poulsbo in 1922. There he met his future wife, Hannah Norum, whose father was a director of the First National Bank of Poulsbo.
Frank took over the bank on the cusp of the Great Depression. To weather the financial storm, he and the directors asked depositors to lend them 25% of their deposits, with a promise to pay back the loans in two years at 6%, a considerable premium over the going rate at the time of 1.5%. This was one of the few banks at the time to fulfill such a promise, setting the standard for a strong commitment to current and future Kitsap Bank customers.
Upon Frank’s death in 1952, many of the big banks from Seattle came over; sure Hannah would sell the bank. However, with the encouragement of her father and brother-in-law, William Langer, Hannah decided not to sell. She was elected the fifth president, becoming the first female bank president west of the Mississippi River.
Today, the Langer legacy continues with Hannah’s daughter, Helen Langer Smith, and granddaughter, Cydly Langer Smith, each serving on Kitsap Bank’s Board of Directors.
In 1972, Donald Rickett succeeded Hannah as president, while she continued on as Chairman of the Board. Rickett graduated from Pacific Coast Banking School, and came to the bank after working for the Washington State Supervisor of Banking.
In 1985, James Carmichael was appointed President and Chief Executive Officer, the position he holds to this day. A Washington native, Jim graduated from the University of Idaho and the West Coast Banking School. He began his career as an FDIC examiner. During his tenure, Kitsap Bank has experienced unprecedented expansion, growing to 24 full service branches and one loan center in five Western Washington counties, and increasing assets to over $920 million.
The Second Century Begins
While celebrating a past rich with tradition, we also celebrate our future. We reaffirm our commitment to providing our friends and neighbors with the best in banking products and services, cutting-edge financial solutions, and unparalleled customer service. We’re here for you now, and will be in the future! |
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