|By Marketwired .||
|September 12, 2013 06:01 PM EDT||
WALLA WALLA, WA -- (Marketwired) -- 09/12/13 -- Baker Boyer Bank (OTCBB: BBBK) announced today that it has named Mark Kajita, Executive Vice President and Wealth Management Division Manager, as President/Chief Investment Officer effective in January 2014. Long-time President and CEO Megan Clubb said she will hand over many of her day-to-day responsibilities to Kajita, and work with him in a co-leadership role. She has been with the bank for 23 years and was named president in 2000 and CEO in 2002.
It was also announced that Peter Allen, a member of the sixth generation of the bank's founding family, will replace Kajita as Wealth Management Division Manager.
"I can enthusiastically welcome Mark and Peter to their new roles in large part because of our leadership team and great employees. Along with Executive Vice President and Chief Operating Officer Mark Hess and Executive Vice President and Banking Division Manager Lyle Hansen, the executive management team will be available to provide valued counsel. The four of us will provide continuity and a strong leadership team covering all aspects of banking and financial advising," Clubb said.
Under her leadership, Baker Boyer has ranked in the top 200 in terms of financial performance among several thousand community banks nationwide each of the past six years, coming in at #14 in 2013. Baker Boyer has also been listed among the best mid-sized companies to work for in the Seattle Business Magazine rankings for eight years and won the award in 2011.
Clubb has also been recognized for her leadership and mentoring of women in banking and was named one of 10 Women of Influence by Seattle Magazine. She is a director of the Federal Reserve Board, Twelfth District in San Francisco and is a Trustee at Whitman College.
Clubb said her responsibilities as a member of the San Francisco advisory board for the Federal Reserve are also taking additional time since she meets every two weeks and travels to San Francisco monthly. In addition, Clubb will be headed to Washington, D.C. next month to represent the twelfth district board at national Fed meetings.
Kajita is a Walla Walla native and earned his B.A. in Business Administration from the University of Washington. He has over 20 years of experience as a licensed C.P.A. beginning with the international accounting firm of Ernst and Young in Seattle. Upon his return to Walla Walla he continued to assist clients with services in the fields of business advising, financial planning, charitable gifting, family wealth distribution, and trust and estate planning. Kajita joined Baker Boyer as a portfolio manager in the Investment Management and Trust Group in 2003. He rose to the rank of Senior Portfolio Manager prior to his promotion to Executive Vice President and Wealth Management Division Manager and member of the bank's Executive Committee in 2010.
Kajita is a commentator for Bloomberg, CNBC, and Fox Business channels advising on national and international economic trends as well as investments. He will remain the bank's Chief Investment Officer. Kajita has been on many community boards and is currently active as a Board Member of the Downtown Walla Walla Foundation, Trustee of the Spokane Episcopal Diocese Foundation and as an Overseer of Whitman College.
"I am very pleased at having the opportunity to work with Megan and the rest of our leadership team and our employees to help Baker Boyer Bank maintain its position as a top performing bank and a great place to work," Kajita said.
Allen has strong roots in Walla Walla with a B.A. from Whitman College and a J.D. from the George Washington University School of Law. He practiced law in Tacoma for five years before returning to Walla Walla in 2006 to join Baker Boyer Bank as a trust officer working closely with Kajita. Allen joined the Board of Directors of Baker Boyer in 2011 and is currently the leader of the Yakima Wealth Management team. Allen is also currently serving on the Community Ministry Board of Providence St. Mary's Medical Center.
ABOUT BAKER BOYER BANK: Headquartered in Walla Walla, Baker Boyer Bank is the oldest independently owned community bank in the state, with 5 branches and wealth management and business banking offices in Yakima and the Tri Cities. They have 179 employees and $551 million in YTD average assets as of June 31, 2013 and currently manage over $1 billion in investments, farmland, and other real estate for its investment and trust clients through its Wealth Management Division.
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