Our History
Southwest Savings & Loan first opened its doors over 100 years ago in downtown Hoquiam, a booming timber town with a name meaning “hungry for wood.” As the community evolved, so did the institution, branching out and eventually becoming the Timberland Bank that you know today.
1915
A group of four businessmen joined together and made a commitment to provide secure banking services and funding so settlers could borrow money to build and purchase homes in Hoquiam.
The businessmen were F.G. Foster, Dr. J.F. McDonald, E.B. Arthaud and P.J. Morgan. This group along with five directors became the founders of Southwest Washington Savings and Loan, the financial institution we now know as Timberland Bank.
Photo courtesy of the Polson Museum.
1916-1969
1916: Southwest Washington Savings & Loan celebrated its first year of business, with just five loans made all year. Total assets reached $4,600.00.
1934: The Bank was organized by the U.S. government and acquired a federal charter, which still resides in Hoquiam today.
1950: The Bank reached $1 million in assets.
1966: The Bank moved into its new headquarters at 624 Simpson Avenue in Hoquiam, where Timberland Bank is still headquartered today.
1969: Clarence Hamre was elected President When Mr. Hamre arrived, the bank had just one office, eight staff members and $8.8 million in assets.
1970 - 1979
1980-2003
1980: The Bank continued to diversify with the opening of our Edgewood Branch, which established a construction lending program in Pierce County.
1989: Now with five locations, the bank's assets reached $100 million.
1994-1999: Branches added in Auburn, Puyallup, Lacey, Yelm, Poulsbo and Bethel Station.
2001-2003: Branches were added in Tacoma, Silverdale, Olympia and Tumwater. In 2003, after 34 year of service, Mr. Hamre retired as President of the bank and Mike Sand was unanimously elected President and CEO.
2004-2019
2004-2008: In 2004, Timberland Bank acquired Venture Bank branches in Downtown Aberdeen, Montesano, Elma, Lacey, Toledo and Winlock. Branches were added in Gig Harbor and Chehalis in 2008.
2015: The Bank celebrated its 100th anniversary and 17th year on NASDAQ, with total assets reaching $790 million.
2018: Timberland Bank completed an acquisition of South Sound Bank, adding new branches in Downtown Lacey and West Olympia.
2023
2023: After 45 years of service, Mr. Sand retired as CEO of the Bank and Dean Brydon was elected as the new CEO.
Thank You
We consider it a remarkable accomplishment and privilege in these times to have adapted, prospered and continued to grow for more than a century, all under local leadership.