Commencement Bank (CBWA) to Relocate Headquarters to 1313 Broadway Street, Tacoma, Wash.

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Commencement Bank (CBWA) announces the relocation of its headquarters and Tacoma Branch to 1313 Broadway Street in Tacoma, Washington, scheduled for early 2025. The move aims to enhance workforce growth, departmental communication, and customer service, with the bank acquiring naming rights to the new building.

TACOMA, WA / ACCESSWIRE / April 12, 2024 / Commencement Bank (OTCQX:CBWA) is pleased to announce the upcoming move of the Bank's headquarters and Tacoma Branch from the current location at 1102 Commerce Street to the locally-owned office building at 1313 Broadway in downtown Tacoma. The move is scheduled to take place in early 2025.

"This move is small geographically, but it is a big step forward for the future of Commencement Bank. This transition will allow for a growing workforce and will consolidate the existing Tacoma team onto one floor, increasing communication and synergies between departments, and ultimately leading to better overall service for our customers. As part of the move, our bank will have naming rights to the building which will further enhance our brand," said John E. Manolides, Chief Executive Officer.

Commencement has occupied four of the building's six floors at 1102 Commerce for the past 12 years but has called downtown Tacoma its home since opening the doors in 2006. As of 2023, Commencement is the largest bank headquartered in Pierce County and intends to remain as such. Will Frame, Drew Frame, and Ray Schuler of Kidder Mathews represented the Bank on the lease transaction.

About Commencement Bank
Commencement Bank, headquartered in Tacoma, Washington, was formed in 2006 to provide traditional, reliable, and sustainable banking in Pierce, South King, Thurston counties and the surrounding areas. Their team of banking experts focuses on personal attention, flexible service, and building strong relationships with customers through state-of-the-art technology as well as traditional delivery systems. As a local bank, Commencement Bank is deeply committed to the community. For more information, please visit www.commencementbank.com. For information related to the trading of CBWA, please visit www.otcmarkets.com.

Contact Information:

John E. Manolides, Chief Executive Officer | 253.284.1802

Nigel English, President and Chief Operating Officer | 253.284.1801

SOURCE: Commencement Bank (WA)

View the original press release on accesswire.com

FAQ

When is Commencement Bank (CBWA) relocating its headquarters and Tacoma Branch?

Commencement Bank (CBWA) is relocating its headquarters and Tacoma Branch to 1313 Broadway Street in Tacoma, Washington, in early 2025.

Why is Commencement Bank (CBWA) relocating its headquarters?

Commencement Bank (CBWA) is relocating its headquarters to enhance workforce growth, departmental communication, and customer service, consolidating the Tacoma team onto one floor for better synergies.

What benefits does Commencement Bank (CBWA) expect from the relocation?

Commencement Bank (CBWA) expects increased communication and synergies between departments, leading to better overall service for customers. The bank will also acquire naming rights to the new building.