Anchor Bank to move note department to Lacey

Anchor Bank in Aberdeen will soon move its Note Department, which handles various aspects of bank loans, to its holding company headquarters in Lacey, Chief Lending Officer and Executive Vice President Greg Schultz said Friday.

“We have decided, because of some space that became available in our Lacey building … to take advantage of economies of scale,” Schultz said. The target date for the move is “right after the Labor Day holiday,” he said.

The Note Department handles back room operations regarding the servicing of loans and lending activities, he said. Twelve people are affected initially by the move and employees were told this week. He could not say whether further moves are being considered.

The department will move from Anchor Bank’s service center on Market Street, he said. The bank occupies five buildings in Aberdeen, including a drive up facility. The bank owns three of four buildings at Broadway and First Streets, he said.

“We have several buildings in town, I wish we only had two,” he said with a laugh. The service center building on Market will remain open for now, he added.

Not all of the 12 people initially affected live in Aberdeen. Some live in Elma and McCleary among other areas, he said. Three people have told him they want to make the move to 601 Woodland Square Loop SE in Lacey. No one has told him they do not want to go, he said.

He would not say whether employees would be given the option to transfer to another department or branch in the county, take a buy out, or to telecommute. Those matters are still being discussed internally by human resources and management, he said. One of the factors to be considered is what each position requires, he said.

“I am not at liberty to disclose those kinds of things,” Schultz said. He did confirm discussions have included the possibility of providing van service to shuttle employees from Grays Harbor to Thurston County.

Schultz lives in Ocean Shores, has an office in Aberdeen headquarters and also commutes one or two days a week to an office in Lacey, he said.

Anchor Bank has six branches in this county, in: Aberdeen, Montesano, Hoquiam, Elma, Westport and Ocean Shores.

Anchor Bank has been a presence in Thurston County market for more than 25 years and operates a branch in West Olympia, Schultz said. There are also branches in Lewis, Pierce and Mason counties. In round numbers, the bank employs 130 people, he said.

The holding company, Anchor Bancorp, was created in 2011 when the bank went public, he said.

Erin Hart, 360-537-3932, Twitter: @DW_Erin


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