Madison Valley Bank: A Comprehensive Guide

Introduction

Madison Valley Bank is a community bank that has been serving the greater Seattle area since 1995. With a focus on providing personalized service and innovative financial solutions, Madison Valley Bank has become a trusted partner for individuals, families, and businesses throughout the region.

History and Growth

Madison Valley Bank was founded in 1995 by a group of local business leaders and residents who saw a need for a community-oriented bank in the rapidly growing Madison Valley neighborhood of Seattle. The bank's initial focus was on providing loans to local businesses and residents, but it quickly expanded its services to include a full range of personal and commercial banking products.

Over the years, Madison Valley Bank has grown both organically and through a series of acquisitions. In 2007, the bank acquired Ballard Savings Bank, a well-respected community bank in the Ballard neighborhood of Seattle. This acquisition expanded Madison Valley Bank's footprint into a new market and increased its total assets to over $500 million.

In 2015, Madison Valley Bank acquired University Savings Bank, a smaller community bank located in the University District of Seattle. This acquisition further expanded Madison Valley Bank's market reach and increased its total assets to over $650 million.

Today, Madison Valley Bank is one of the largest community banks in the Seattle area, with total assets exceeding $1 billion. The bank has seven branches throughout the region, including locations in Madison Valley, Ballard, University District, Wallingford, Queen Anne, and West Seattle.

Financial Performance

Madison Valley Bank has consistently reported strong financial performance over the years. The bank has a history of profitability and has consistently grown its assets, loans, and deposits.

Key Financial Metrics (as of December 31, 2022)

Products and Services

Madison Valley Bank offers a comprehensive range of personal and commercial banking products and services, including:

Personal Banking

• Checking and savings accounts
• Certificates of deposit
• Money market accounts
• Personal loans
• Auto loans
• Home equity loans
• Mortgages

Commercial Banking

• Business checking and savings accounts
• Commercial loans
• Lines of credit
• Equipment financing
• Treasury management services
• Merchant services

Community Involvement

Madison Valley Bank is deeply committed to giving back to the communities it serves. The bank supports a variety of local organizations and initiatives, including:

• The United Way of King County
• The Seattle Children's Hospital
• The Seattle Symphony
• The Pacific Science Center
• The Seattle Art Museum

Awards and Recognition

Madison Valley Bank has been recognized for its exceptional performance and commitment to the community. The bank has received numerous awards and accolades, including:

• "Best Banks in Washington" by Forbes (2023)
• "Top 200 Community Banks in the U.S." by American Banker (2022)
• "Best Places to Work in Washington" by Seattle Business Magazine (2022)

Stories and Lessons Learned

Story 1: The Power of Personal Service

A small business owner in the Ballard neighborhood was struggling to obtain a loan from a large national bank. He approached Madison Valley Bank and met with a loan officer who took the time to understand his business and his financial needs. The loan officer was able to structure a loan that met the business owner's needs and helped his business grow.

Lesson: Madison Valley Bank's commitment to personal service makes a difference for its customers. By taking the time to understand their customers' needs, the bank is able to provide tailored solutions that help them achieve their financial goals.

Story 2: The Importance of Community Involvement

Madison Valley Bank supports a variety of local organizations and initiatives that benefit the communities it serves. For example, the bank sponsors a financial literacy program for high school students and provides grants to local nonprofits that support affordable housing and arts education.

Lesson: Madison Valley Bank's community involvement demonstrates its commitment to making a positive impact on the region. By supporting local organizations, the bank helps to strengthen the community and improve the lives of its residents.

Story 3: The Value of Long-Term Partnerships

Madison Valley Bank has been serving many of its customers for over 20 years. The bank's commitment to building long-term relationships with its customers has resulted in a high level of loyalty and repeat business.

Lesson: Madison Valley Bank's focus on building long-term relationships with its customers is a key factor in its success. By providing excellent service and tailored solutions, the bank has earned the trust of its customers and built a loyal customer base.

Common Mistakes to Avoid

There are a few common mistakes that people make when dealing with banks. Here are a few tips to help you avoid these mistakes:

• Not shopping around: It's important to compare rates and fees from different banks before opening an account or taking out a loan. Madison Valley Bank offers competitive rates on its products and services, but it's always a good idea to do your research.
• Overdrawing your account: Overdrawing your account can result in costly fees and damage to your credit score. Make sure to keep track of your balance and avoid overspending.
• Not paying your bills on time: Late payments can also damage your credit score and lead to additional fees. Make sure to pay your bills on time, every time.
• Using credit cards irresponsibly: Credit cards can be a convenient way to make purchases, but it's important to use them responsibly. Avoid carrying a large balance or making only minimum payments.

Why it Matters and How it Benefits

Banking is an essential part of modern life. By choosing the right bank, you can get the financial products and services you need to achieve your financial goals. Here are a few of the benefits of banking with Madison Valley Bank:

• Personalized service: Madison Valley Bank's commitment to personal service means that you'll have a dedicated banker who can help you with all of your financial needs.
• Competitive rates: Madison Valley Bank offers competitive rates on its products and services, so you can save money on your banking.
• Community involvement: Madison Valley Bank is committed to giving back to the community, so you can feel good about banking with an institution that supports your neighborhood.
• Long-term relationships: Madison Valley Bank is committed to building long-term relationships with its customers, so you can count on us for all of your banking needs, now and in the future.

FAQs

Q: What is Madison Valley Bank's routing number?

A: Madison Valley Bank's routing number is 325070848.

Q: What are Madison Valley Bank's hours of operation?

A: Madison Valley Bank's branches are open Monday through Friday from 9:00 AM to 4:00 PM and on Saturdays from 10:00 AM to 2:00 PM.

Q: Can I open an account online?

A: Yes, you can open an account online at Madison Valley Bank's website.

Q: What types of loans does Madison Valley Bank offer?

A: Madison Valley Bank offers a variety of loans, including personal loans, auto loans, home equity loans, and mortgages.

Q: What are Madison Valley Bank's fees?

A: Madison Valley Bank's fees vary depending on the type of account or loan you have. You can find more information about fees on the bank's website or by speaking to a customer service representative.

Q: How do I contact Madison Valley Bank's customer service?

A: You can contact Madison Valley Bank's customer service by phone at (206) 323-4567 or by email at [email protected].