NEW YORK, Sept. 27, 2007 (PRIME NEWSWIRE) -- Wall Street Reporter Magazine recently published an exclusive interview with John Dickson, Chief Executive Officer of Frontier Financial (Nasdaq:FTBK), outlining his bank's successful expansion beyond its traditional Washington State stronghold.
"We'd been eyeballing the Oregon market," he explains. "They do not have interstate banking so in order for us to get down there we needed to acquire a charter."
The interview is available on www.wallstreetreporter.com in streaming audio and mp3 formats.
Highlights include discussion of the following topics of interest to potential investors:
- Why the bank's latest earnings prompted "a good reaction" from analysts and the market.
- Details on how the acquisition of the Bank of Salem plays into a strategy of growth along the critical I-5 corridor, which concentrates "the majority of the commerce in Washington State and Oregon."
- The bank's relative insulation from "too much hysteria in the housing market." Not only is the lending book primarily commercial in focus, but Mr. Dickson notes that regional economy and housing markets are both very strong. "I'll be realistic. It's slowed down, but it's still very strong out there."
- How de novo growth has the potential to help the bank hit 10%+ EPS growth targets.
- The prospect of further M&A ahead for what is already the largest independent Washington State-domiciled banking network.
"I think the next two or three years could be a period of very strong growth. We've got this merger and I've been talking with several other potential candidates over the last several months," Mr. Dickson tells WSR. "I think we'll come out as one of the premier banking franchises in the Pacific Northwest."
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Wall Street Reporter (Est. 1843) helps smart investors connect with exciting companies, through our website, magazines and conferences. We're probably best known for our exclusive interviews with industry-leading CEOs and the world's top investment experts.
About Frontier Financial Corporation
Frontier Financial Corporation manages Frontier Bank, one of the oldest and most trusted banks in the Pacific Northwest. With over 40 offices throughout Washington and headquartered in Everett, Frontier has been in operation since 1978, boasting prolific growth for nearly thirty years.
Forward-Looking Statements
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors.