Business

Peoples Bank to open home loan center in Freeland

Peoples Bank will open a home loan center in Freeland, the Lynden-based bank has announced.

The new office will open on Monday, June 13 at 5589 Harbor Ave. Company officials said the home loan center will serve South Whidbey customers who are looking to purchase, refinance or build a home.

Joining the independent community bank to run the new Freeland office will be the lending team of First Island Financial; Kevin Engstrom, Ron Eaton, Caig Buchanan and their support professional, Wendy Johnson. The office will be operated under the direction of Jo Dallas, Island County real estate loan manager and Engstrom, real estate loan assistant manager.

Peoples Bank has offices in Island, Whatcom, Skagit, Snohomish, King and Chelan/Douglas counties. Bank officials said the bank has been looking for opportunities to expand its home loan service in Island County.

“We are excited at the opportunity to expand home loan service to more homeowners on Whidbey Island and to partner with this lending team that shares our values around service and mortgage expertise,” said Tony Repanich, executive vice president of retail banking and marketing for Peoples Bank.

Engstrom has served mortgage customers in Freeland for 16 years and is active with Whidbey Island South Association of Realtors and the Freeland Chamber of Commerce. Eaton has worked in Freeland for 21 years and is active with the local food bank and high school golf. Buchanan has been in Freeland for nine years and is also active with youth sports.

Founded as Peoples State Bank in 1921, Peoples Bank is locally owned and now operates 24 branches throughout Washington. It has more than $1.1 billion in assets. Bauer Financial, in its most recent rating, awarded Peoples Bank an excellent rating of four stars.

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