Seattle Press on Line - Northstar Bank Poised for Growth

Fremont and Ballard

Northstar Bank Poised for Growth

Mike Slattery, chairman of the Northstar Bank board.

Jul 12, 2000 -- Northstar Bank's Chairman of the Board Mike Slattery sees a tremendous potential for growth by the bank in Fremont and Ballard over the next few years. The bank's assets and earnings have grown 25 percent a year since its founding in Fremont in 1994 by a group of local business owners. "We wanted a friendly neighborhood bank in our community and we didn't have one, so we started our own," Slattery said.

Originally, the bank's sole location was in Fremont. But when the opportunity arose to buy the former U.S. Bank facility on 15th Avenue Northwest and Northwest 56th Street in Ballard, "We jumped at the chance," Slattery said. "Did you know that 35,000 cars a day go past our building?" he asked excitedly.

The bank now has 14 employees, two locations and nearly $60 million in assets.

"We're in touch with the community. We give personalized service, and we've got room for expansion. We see a tremendous future for this bank," Slattery said.

The Board of Directors of the bank reflects its origins and the community it serves. Charlene Iverson owns a popular diner, the Stoneway Cafe; two directors, Frank Mercker and A.O. Nordheim run fishing companies; John Dills owns Lake Union Waterworks; Linda Dix is a co-owner of D.A. Burns Carpet Cleaning. Slattery heads his own real estate investment firm.

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