# Kitsap Bank > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Kitsap_Bank > Markdown URL: https://mediated.wiki/source/Kitsap_Bank.md > Source: https://en.wikipedia.org/wiki/Kitsap_Bank > Source revision: 1340979040 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) **Kitsap Bank** is a [community bank](/source/Community_bank) headquartered in [Port Orchard, Washington](/source/Port_Orchard,_Washington) in the [United States](/source/United_States). Established in 1908, it is the oldest and largest locally owned bank in [Washington state](/source/Washington_state). ## History Founded in Port Orchard in 1908 by [Jacob Furth](/source/Jacob_Furth), George Miller, Peter Nordby, and John Yakey, Kitsap Bank was originally known as Kitsap County Bank.[2] Frank Langer purchased the bank in 1922, serving as its president until his death in 1952.[2] After Langer's death his widow, Hannah Langer (née Norum), was solicited to sell the bank by several larger, [Seattle](/source/Seattle)-based institutions but ultimately spurned their offers.[2] Hannah Langer, the daughter of a director of the First National Bank of Poulsbo, became the first female president of a bank in the [western United States](/source/Western_United_States), heading Kitsap County Bank until 1972 as president, and continuing as chairperson of the board of directors until 1985.[2][3] By 1977 the bank's assets had grown to $47 million and it owned four retail locations.[4] From 1985 to 2012, the bank's president was Jim Carmichael.[4] In 1987, Kitsap County Bank changed its name to Kitsap Bank.[5] Between 2005 and 2015 Kitsap Bank's holding company, Olympic Bancorp, acquired three regional banks which were then folded into Kitsap Bank: Fife Commercial Bank, a single branch bank located in [Fife, Washington](/source/Fife,_Washington); Westsound Bank in [Bremerton, Washington](/source/Bremerton,_Washington); and MarinerBank in [Port Townsend, Washington](/source/Port_Townsend,_Washington).[6] In 2014 the bank opened a new location in [Bremerton, Washington](/source/Bremerton,_Washington) that featured an integrated [Starbucks](/source/Starbucks) with separate drive-through windows for the bank and coffeehouse.[7] The new facility replaced a previous Kitsap Bank building at the same site; John Glomsted, the manager who opened the previous branch location in 1961, was tapped as the "honorary first customer" during the new building's opening.[7] ## Operations According to its annual report for 2016, Kitsap Bank held more than $1 billion in deposit accounts and had assets totaling $1.1 billion.[8] That year, it had the largest market share of banks in [Jefferson County, Washington](/source/Jefferson_County,_Washington), with $113 million in deposits equaling about 23 percent of the value of all deposit accounts in the county.[9] Kitsap Bank is the only asset of its holding company, Olympic Bancorp.[10] As of 2016 Kitsap Bank was the tenth largest bank in Washington, and the largest and oldest locally owned bank in the state.[2] It has 21 retail locations in [western Washington](/source/Western_Washington).[1] ### Management The [chief executive officer](/source/Chief_executive_officer) of Olympic Bancorp and Kitsap Bank as of 2018 was Steven Politakis, and the bank's president was Anthony M. George.[11] The chair of Olympic Bancorp's board of directors in 2018 was Cydly Langer Smith and its vice chair was Helen Langer Smith.[10] ## Philanthropy From 2013 to 2017 Kitsap Bank was included on the annual list of the 75 "most generous Washington state corporate philanthropists" published by the *Puget Sound Business Journal*.[12][13] ## See also - [Kitsap County](/source/Kitsap_County) ## References 1. Lind, Treva (December 2015). ["The 2015 Family Business Awards: Large Firms"](https://web.archive.org/web/20160330100026/http://seattlebusinessmag.com/article/2015-family-business-awards-large-firms). *Seattle Business Magazine*. Archived from [the original](http://seattlebusinessmag.com/article/2015-family-business-awards-large-firms) on March 30, 2016. Retrieved April 9, 2015. 1. [*Port Orchard*](https://books.google.com/books?id=-dlQJP1mVlsC). Arcadia Publishing. 2012. p. 25. ISBN 0738589225. 1. ["Cydly Langer Smith succeeds her mother at helm of Kitsap Bank"](https://www.kitsapdailynews.com/business/cydly-langer-smith-succeeds-her-mother-at-helm-of-kitsap-bank/). *Kitsap Daily News*. April 29, 2011. Retrieved April 9, 2018. 1. Pritchett, Rachel (May 7, 2012). ["Area's consummate banker closes successful career at Kitsap Bank"](http://archive.kitsapsun.com/news/local/areas-consummate-banker-closes-successful-career-at-kitsap-bank-ep-417535331-356743631.html/). *[Kitsap Sun](/source/Kitsap_Sun)*. Retrieved April 9, 2018. 1. ["Kitsap Bank (FDIC # 6161)"](https://web.archive.org/web/20180410135700/https://research.fdic.gov/bankfind/detail.html?bank=6161&name=Kitsap%20Bank&searchName=Kitsap%20Bank&searchFdic=&city=&state=&zip=&address=&searchWithin=&activeFlag=&searchByTradename=false&tabId=2). *fdic.gov*. [Federal Deposit Insurance Corporation](/source/Federal_Deposit_Insurance_Corporation). Archived from [the original](https://research.fdic.gov/bankfind/detail.html?bank=6161&name=Kitsap%20Bank&searchName=Kitsap%20Bank&searchFdic=&city=&state=&zip=&address=&searchWithin=&activeFlag=&searchByTradename=false&tabId=2) on April 10, 2018. Retrieved April 9, 2018. 1. Roberts, C.R. (May 13, 2015). ["Kitsap Bank acquires Fife Commercial Bank, full rebranding set for early 2016"](http://www.thenewstribune.com/news/business/article26288929.html). *[The News Tribune](/source/The_News_Tribune)*. Retrieved April 9, 2018. 1. Sooter, Tad (July 18, 2014). ["Kitsap Bank on Wheaton Way opens Monday"](http://pugetsoundblogs.com/minding-your-business/2014/07/18/kitsap-bank-on-wheaton-way-opens-monday/). *[Kitsap Sun](/source/Kitsap_Sun)*. Retrieved April 9, 2018. 1. ["Annual Report 2016"](https://www.kitsapbank.com/annual-report-2016/). *kitsapbank.com*. Kitsap Bank. Retrieved April 9, 2018. 1. Arthur, Allison (February 22, 2017). ["Local banks dominate: National banks at bottom of Jefferson County market share report"](http://www.ptleader.com/news/local-banks-dominate-national-banks-at-bottom-of-jefferson-county/article_9b05691a-f88c-11e6-a089-abb2f29880f0.html). *Port Townsend Leader*. Retrieved April 9, 2018. 1. ["Executive Team & Board"](https://web.archive.org/web/20180410135521/https://www.kitsapbank.com/board/). *kitsapbank.com*. Kitsap Bank. Archived from [the original](https://www.kitsapbank.com/board/) on April 10, 2018. Retrieved April 9, 2018. 1. ["Company Overview of Kitsap Bank"](https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=1910678). *bloomberg.com*. [Bloomberg](/source/Bloomberg_L.P.). Retrieved April 9, 2018. 1. ["Kitsap Bank honored for Corporate Philanthropy"](https://web.archive.org/web/20180410141113/http://kitsapeda.org/2015/05/kitsap-bank-honored-for-corporate-philanthropy/). *kitsapeda.org*. Kitsap Economic Development Alliance. Archived from [the original](http://kitsapeda.org/2015/05/kitsap-bank-honored-for-corporate-philanthropy/) on April 10, 2018. Retrieved April 9, 2018. 1. Crowe, Melissa (April 25, 2017). ["Revealed: The 75 most generous Washington state corporate philanthropists"](https://www.bizjournals.com/seattle/news/2017/04/25/revealed-the-75-most-generous-washington-state.html). *Puget Sound Business Journal*. Retrieved April 9, 2018. ## Further reading - Stewart, Ashley (September 1, 2016). ["Before the recession, others called this bank 'stodgy.' Now it just hit a major financial milestone."](https://www.bizjournals.com/seattle/news/2016/09/01/before-the-recession-others-called-this-bank.html). *Puget Sound Business Journal* --- Adapted from the Wikipedia article [Kitsap Bank](https://en.wikipedia.org/wiki/Kitsap_Bank) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Kitsap_Bank?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.