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V I S I T U S O N L I N E A T N O R T H W E S T - B A N K . C O MEQUAL HOUSING OPPORTUNITY
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AdvantageAdvantageQUARTER 3 2015 | VOL. 3 ISSUE 3
Smoke Shop and Fireworksby John W. Mitchell
Northwest Bank ContactsJamie Shulman | 503.906.3940Oregon Market [email protected]
Tom Lee | 503.906.3943SVP, Commercial Banking [email protected]
Laurel Lukesh | 503.905.3222VP, Commercial Real Estate Relationship [email protected]
David Roethe | 503.906.3949VP, Commercial Relationship [email protected]
Scott Wells | 503.906.3953VP, Commercial Relationship [email protected]
Angela DeVita | 503.905.3210VP, Treasury Management [email protected]
Krista Kahmann | 503.905.3217Customer Service [email protected]
Frédéric Carpentier | 503.906.3958Customer Service [email protected]
GOELECTRONIC!Want NB Advantage sent directly to your e-mail inbox?
Visit: northwest-bank.com
E-mail:[email protected]
Call:503.906.3939
As the 4th of July celebration approached, I noted numerous establishments
proclaiming “Smoke Shop and Fireworks.” This incongruous product mix seemed laden with possibilities for conflagration. The financial news over the same period was similar: “no” votes; Greek deadline drama; moral hazard issues for other European nations; and, Chinese stocks plummeting in the face of government support efforts. The disheartening visuals of people lined up at ATMs for limited cash withdrawals reminds us of the smoothly functioning payments system that we take for granted and politicians ignore at our peril.
Against this turbulent background the U.S. economy sailed on, seeming to shake off the first quarter weakness with its revised estimate now showing a -0.2% annualized growth rate—essentially zero. Employment continued to grow, motor vehicle sales were robust, and residential construction activity remained in an upswing. Fueled by rising employment, increasing earnings, low energy prices, and rising net worth, retail sales shook off the winter blues. The expectation is that growth will rebound in the second half of the year—á la 2014.
The global turmoil poses some risks to the U.S. in the sense of weakening markets and increased uncertainty. There has been some flight-to-safety activity moving the dollar; and, interest rates have gyrated with changing perceptions of “Deal or No Deal.” The prospect of a September change in the federal funds rate has diminished with the overseas events, but Chairwoman Yellen still believes it will be in 2015. The International Monetary Fund has urged the Fed to delay its first move. The Fed awaits more strength in the labor market and
evidence that the inflation rate is moving towards its long-term 2% objective. The decision will be data driven, and there is no timetable.
The labor market data is generally upbeat with rising payroll employment numbers: 223,000 in June and a 5.3% unemployment rate. However, the declining labor force and the lower participation rate are troubling. The hope had been that the
tightening labor market would bring a rebound in participation. The “part-time for economic reasons” total of 6.5 million people has been stubbornly high with another 1.9 million people marginally attached to the labor force—available to work but not looking.
Policy developments loom large for the region
and the nation. Chaos in the medical sector was averted and “fast-track” authority passed, but the budget process is unsettled with the debt ceiling truce over and the sequester process scheduled to re-emerge in the looming fiscal year.
In our hot and dry region, Washington, Idaho, and Oregon were respectively second, fifth, and sixth in the May employment rankings from Job Growth Update. Of the 31 metro areas in the nation with employment over a million, Seattle ranked second in job growth and Portland was 14th. The legislatures have gone home. Washington has a transportation package and, hopefully, compliance with the McCleary decision; Idaho, increased transportation funding; while Oregon transportation issues will await another day.
“The Fed awaits more strength in the labor market and evidence
that the inflation rate is moving towards its long-
term 2% objective.”
When Tom Liesy established TA Liesy Homes Northwest in 2006, the nation’s home-building industry was at a
frenzied pace. However, two short years later the market crumbled and building companies dissolved almost as quickly as they began. Therefore, it’s no wonder that almost a decade later Liesy is proud of how his company navigated through those rough seas. “Starting this business in 2006 seemed like a good idea at the time, but by 2008, construction loans were all but gone,” says Liesy. “I got very creative with vertical financing, getting involved with private lenders. I was blessed to make it through the housing recession and continue to build in the Clackamas area.” Liesy’s start in the construction industry began in 1988 following high school graduation. After working summers with a framing contractor, he got his Construction Contractors Board (CCB) license and started on his own as a framing contractor. In 1995 he became a superintendent for Dan Anderson Homes and oversaw the construction of hundreds of homes. After that, TA Liesy Homes Northwest was born. “Home building has many challenges, but also many rewards,” says Liesy. “I don’t know any other industry that can produce such a great feeling of satisfaction. Making something out of raw
materials is nothing new to manufacturing, but building a home for a family out of raw materials is like nothing else. It never ceases to amaze me of the excitement buyers have moving into their new homes. Our business model lets the buyers make all the selections in their home, so seeing their work payoff is truly satisfying.” In addition to the end result for the customer, Liesy also enjoys the daily challenges that the building industry brings. “There is always a new obstacle to overcome whether it
is sales, lending, jurisdictions, accounting, or just physically building homes,” says Liesy. “We now have national companies in our market that make it tough for mid-size builders to compete.” Looking ahead, Liesy says a key for his company’s success is to
not get too caught up in the current housing frenzy, but rather be positioned for the industry’s next cycle. “I grew up in Happy Valley and I am very honored to be a part of the community,” says Liesy. “Meeting someone at the local grocery store that we built a home for is really exciting. I enjoy the comradery of all the local business owners and the pride they take in giving back to our neighborhood.” Learn more at www.taliesyhomesnw.com. Northwest Bank is proud to be a part of TA Liesy Homes’ growth and is committed to their company’s success.
“Our business model lets the buyers make all the selections in their home, so seeing their
work payoff is truly satisfying.”
Owner:Tom Liesy
Founding date:2006
Award:2008 - Excellence Award for single family home under $250k
Website:taliesyhomesnw.com
TA LIESY HOMES NORTHWESTHAMMERS TOWARD
10 YEARS
2EQUAL HOUSING OPPORTUNITY
V I S I T U S O N L I N E A T N O R T H W E S T - B A N K . C O M 3
Remote Deposit Capture Helps Businesses Save Time
In our world of advancing technology, it seems like many things can now be handled remotely. Bank deposits are no
exception. Northwest Bank’s Remote Deposit Capture service helps businesses save time by permitting checks to be deposited into your Northwest Bank account from a remote location, such as a home or office. By simply scanning a check, the scanner electronically transmits that check’s digital image into your Northwest Bank account.
Features and benefits include:
Scanning 24/7 Same day credit if items are scanned by 5:00 p.m. (PT)/6:00 p.m. (MT), Monday – Friday Accelerated clearing enhances cash flow Viewing and printing of check images up to 45 days Customized reports Access for multiple users Scanning into multiple accounts
Additionally Remote Deposit Capture offers security features such as:
Dual control for input and approval Mandatory use of security tokens Reduced returned item risk
Gain better control over your deposits and cash flow today by using Northwest Bank’s Remote Deposit Capture service. Call or stop by the office and speak with a Treasury Management Officer to start enjoying the benefits Remote Deposit Capture can provide to you!
Welcome to the Team!Northwest Bank is pleased to announce the following additions to our team:
Katie Austin recently joined the Northwest Bank team as a Vice President, Compliance Manager, providing support to all divisions. Katie has worked in the financial services industry for 15 years. She has a background in banking operations and graduated from the OBA Bank Operations School in 2006. Katie is involved with Ukids, a non-profit organization that supports the education of orphans in Uganda. She enjoys traveling, reading, hiking, riding her horse, volunteering with her church and spending time with her family.
Frédéric Carpentier recently joined Northwest Bank as a Customer Service Representative, providing support to the Lake Oswego team and to the Treasury Management group. Frédéric has 17 years of financial services experience in the banking, insurance and investment fields. He graduated from the University of Rennes with a major in Philosophy and minor in Foreign Languages. Frédéric enjoys various activities such as cooking, reading, movies, playing the Japanese game of Go, outdoor activities and spending time with his furry family. Frédéric is actively involved with the Oregon Dachshund Rescue where he volunteers during his spare time. He also breeds French Bulldogs which has recently become one of his passions.
Krista Kahmann recently joined Northwest Bank as a Customer Service Manager, providing support to the Lake Oswego team. Krista has ten years of banking experience in both California and Oregon. She is a current member of the PNG Rotary Club of Portland and enjoys volunteering in her community. She enjoys outdoor activities, traveling, spending time with her family and is an avid San Francisco Giants fan. Sherlyn Myler joined the Lake Oswego team in May as a Loan Administrator. Sherlyn has ten years of banking experience, primarily as a consumer loan officer, and most recently in construction loan administration. Sherlyn graduated from the University of Utah with a degree in Film and Media Arts. She enjoys making movies, writing, designing crochet patterns, and watching soccer.
David Roethe recently joined the Lake Oswego team as a VP, Commercial Relationship Manager, he has spent the last 13 years in financial services in the Portland area. A graduate of the Biola University, David grew up moving every two years of his childhood as the son of a career Naval officer living and traveling all over the world. David is very active with Boy Scouts, West Linn wrestling, Junior Achievement as well as Special Olympics. David has been working for Mt. Hood Meadows for 22 years on the weekends as a guest host and ski instructor. He and his wife Susan currently run the West Linn ski bus for Mt. Hood Meadows during the winter and are usually found paddle boarding or windsurfing in Hood River during the summer. They have been married for 26 years and are raising their four children in West Linn.
V I S I T U S O N L I N E A T N O R T H W E S T - B A N K . C O M 3EQUAL HOUSING OPPORTUNITY
HOURS: MONDAY - FRIDAY 9:00AM - 5:00PM503.906.3939 • FAX: 503.906.3938NORTHWEST-BANK.COM
Do you need to like your customers?
In a recent conversation with a member of our lending team, the topic of capacity came up as
a big issue this individual was working through. As we talked through the challenges and opportunities at hand, it became readily apparent that we were going to need to prioritize our attention to specific customers in order to ensure we were delivering the highest quality of service possible. Further into the discussion, we contemplated how we would decide who to focus on first. Most profitable? Biggest needs? Those with the most urgent deadlines? I then asked two questions that I believe don’t get asked enough:
• Do you like working with them?• Is your relationship a collaborative partnership or are you
simply a vendor to them?I recalled back to my early days as a banker as a time
when I was so hungry for business that I didn’t really give any consideration to the personality fit or how I was really of benefit to the business owner. As you are likely either a business owner yourself or a professional that has a product or service to offer to others, I suspect that there was (or still is) a time when you were more focused on growing your profits/portfolio/credibility that the partnerships and relationship with your customers was an afterthought.
I urge you, if you are not already doing this, consider the personality fit with your potential new customers, and determine if the profitability of the relationship is enough, or where you have the opportunity to be a true partner. I suspect that those that make long term investments with their customers in developing a collaborative partnership, in the long run, lead to much more profitable and rewarding experiences versus those that are focused solely on price or some other “commodity” metric. Customers that you dislike, are difficult to work with, or generally make other aspects of your business more difficult are rarely worth it over the long term, regardless of their profitability to you.
As a customer service company that is in the risk management business (and also does lending and deposits), we are focused on developing and growing collaborative partnerships with our customers, and enjoy the growth that we help each other achieve together.
Best wishes to each of you and your teams’ continued success in 2015.
Letter from the President by Jamie Shulman
4900 MEADOWS ROAD, STE. 410 LAKE OSWEGO, OR 97035
Habitat for Humanity impacts Oregon Families
D uring the past three years, Oregon Habitat for Humanity affiliates have delivered affordable homeownership and repair services to 408 hardworking
families in Oregon. Of these families, 255 received the keys to homes they helped to build and are purchasing from Habitat with a zero-percent interest mortgage. Thanks to the hard work of community volunteers and the innovation of local Habitat programs, an additional 153 homeowners directly benefited from home repairs they can afford.
With your help, Habitat for Humanity can mobilize the volunteers and resources needed to help more Oregon families lead worry-free, healthy and productive lives. Our communities are strengthened as we unite to meet our friends and neighbors’ basic needs for a stable and affordable place to call home.
There are many ways that you can support Habitat for Humanity’s mission in Oregon:
Volunteer at a local build site Make a donation Shop at your local ReStore
To learn more, please visit www.habitatoregon.org/affiliates.
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Jamie Shulman, Oregon Market President
EQUAL HOUSING OPPORTUNITY
V I S I T U S O N L I N E A T N O R T H W E S T - B A N K . C O M
