A Winning Formula

Olympia-based Heritage Bank is a homegrown institution. Its
been operating since 1927, and now comprises 16 locations that employ 189
employees throughout the south Puget Sound region. The bank is healthy, and so
is its workforce.

Thats no accident. Heritage Bank places a premium on
employee health and fitness. Along with a generous rollover sick leave program
and free flu shots, the bank matches employee health club memberships and
offers two wellness newsletters. (In 2009, Heritage employees participated in
the 10,000 Steps per Day program, with the bank providing free pedometers and
online tools to track progress.)

But like many small banks (and some large ones) in the Northwest,
Heritage Bank has had a challenging couple of years. Last years global
financial turmoil certainly didnt skip the Olympia-based institution, which
lost $594,000 in the first quarter of 2009. Heritage has been able to reverse
its losses since then, with Q1 2010 resulting in a net income of $696,000.

The banks reaction to last years turbulence was classic
Heritage: An Employee Communications Committee was formed to facilitate the
flow of information throughout the organization; the entire staff regularly sat
in on status-update conference calls with CEO Brian Vance; and the bank
organized a series of town hall meetings with customers and staff alike to keep
all stakeholders apprised of the situation. Heritages transparency and clear
communication saved the day.

Economic chaos aside, the workplace atmosphere within
Heritage Bank is nothing if not convivial. Each December, the bank hosts Staff
Appreciation Days on which gifts are dispersed, and an annual Flapjack
Roundup puts CEO Vances breakfast-cooking skills on display for four mornings
in a row. (Vance and the rest of the senior management team feed virtually the
entire company in the space of those four breakfasts. Good thing Vance is a
former cowboy.)

Heritage also pays for volunteer hours for employees to
participate in community service projects each year; recent recipients include
the American Cancer Society Cancer Walk, the YMCA, and the Boys & Girls
Clubs.

Its clear that Heritage is running on a
winning formulaand thats good news for its customers and employees alike.

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