The branch, at 278 Central Way, is situated two blocks from Lake Washington. It is the first new branch the company has opened this year. A grand opening is scheduled for the middle of the month, after which work will begin in earnest on opening No. 11 in Juanita, says John Valaas, First Mutual's President and Chief Executive Officer.

"We have already secured the site," he said. "Our next task is to finalize the staffing and tenant improvements."

First Mutual CFO Roger Mandery tells GlobeSt that the branch likely won't be opened before the end of the year. The company has been opening one or two branches a year as of late, he said. In addition to its branches, First Mutual also operates loan production offices in Tacoma, Washington and Salem, Oregon.

Recommended For You

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.