Burlington based Business Bank announced today the hiring of a new Chief Executive Officer, Michal D. Cann.  Mike began his banking career in 1971 in Montana, moving to Western Washington in 1985 as President and CEO of Valley Bank in Mount Vernon, Washington.  Mr. Cann moved to Oak Harbor in 1992 taking the reins at the bank on Whidbey Island. He retired in September 2008 as President/CEO of Whidbey Island Bank and its parent, the Washington Banking Company.  

Mr. Cann brings extensive experience, local market knowledge, and a proven track record as an innovative and successful banker to the position at Business Bank.

“Current economic and regulatory pressures produce a very challenging environment for any bank operating today, however, they also produce some unique and exciting opportunities”, says Cann.  

“I’m coming into the bank as CEO, pending regulatory approval, with the support of a strong board, a capable and experienced staff and a stable shareholder base.  The former CEO, Don Zimmerman, is a well respected colleague and a friend of mine who has offered to assist in a smooth transition.” 

“In addition, we know what we have to do, we know the challenges we face, and are serious in our commitment.”  When asked about coming out of retirement, Cann responded, “I’m investing my time, money and effort in Business Bank because I see a tremendous opportunity for our shareholders, our employees, our customers and our community.” 

Business Bank plans to resume its capital campaign within 90 days with a new President/CEO at the helm and a new course charted.