Shorebank Pacific celebrates its 10th anniversary this year. The Ilwaco-based bank has a well-earned reputation for "going green." CEO David C.E. Williams said Shorebank measures itself against a triple bottom line that sets it apart from other banks.
"Our tag line is: strong business, strong community and strong environment," he said. "Most businesses are measured on the basis of profitability. We also consider social equity issues and environmental concerns."
As a coastal-based bank, Williams said Shorebank is concerned with local wealth creation.
"We need to create jobs that pay people enough that they can live in a reasonable way," he said.
Williams said Shorebank, through its partnership with the Consumer Seafood Center in Astoria, was working to add value to local products like seafood, to allow the seafood industry to profit more from their efforts in a changing market.
Shorebank works to keep money in the regional community, Williams said.
"Our focus is really on the bioregion," he said. "Oregon and Washington is where we are."
The bank's non-profit arm is Shorebank Enterprise Cascadia, which Williams said was formed to facilitate sub debt lending. Sub debt loans are extended to small businesses that are not yet ready, from a risk perspective, to qualify for a loan from a commercial bank.
This fall, Shorebank will launch a new lending program for green building, and will expand operations in the Puget Sound area and Portland.
"But we want to be perceived, and I hope we are, as a bank that is really committed to the North Coast," he said. "That's why our headquarters is in Ilwaco.