Banking on It - January 2003

BankWest of Nevada

Community Involvement Part of Success Story

by Joyce Gorsuch

"In the short period of time we’ve been open, we’ve become the largest and oldest locally-owned community bank in Nevada," said Larry Woodrum, president and CEO of BankWest. "In a little less than nine years we’ve gone from $8 million in assets to over $800 million in assets. We’ve been very profitable and we also contribute to our community."

BankWest personnel – from board members and executives to employees at all levels – carry out the motto written in large brass letters on the lobby wall of the executive office: "Lending a helping hand to the community with competence and compassion." Local people respond by trusting BankWest with their business. "We’ve grown very large by referral," said Paul Workman, senior vice president at BankWest. "[Approximately] one-third of accounts are opened by people who were referred to us."  

BankWest of Nevada

• Is a leading independent community bank.

• Was founded in 1994 by former managers from Nevada Community Bank.

• Carries out founder William Boyd’s mission to serve local businesses.

• Has over $800 million in assets.

• Provides three major services to business clients: couriers, problem-solving via decentralized decision-making, and value-added networking.

• Is rated "outstanding" by FDIC for sharing staff and their problem-solving skills with the local community.

  

  

Lois Greene, senior vice president at BankWest, forges strong relationships between BankWest employees and community members. "I’m a conduit," said Greene, who serves as the chairperson for Tech Start, a non-profit organization that supplies computers and educational assistance to technologically disadvantaged children and their parents. The 1,000-square-foot space BankWest has donated to this cause is located directly above the brass letters spelling out the bank’s commitment to compassion. Greene’s efforts have earned recognition for herself and for BankWest:

Minority Business Advocate of the Year from the Nevada Minority Purchasing Council

Woman of Distinction Award from the National Association of Women Business Owners

Region Nine Small Business Administration (SBA) Award (Region nine includes AZ, CA, GU, HI, and UT.)

Citizen of Distinction Award from the Foundation for an Independent Tomorrow

Rose Award from the Professional Black Women’s Alliance

State of Nevada Coordinator for Congregations of Promise, a White House initiative

Workman and Woodrum also dedicate time to the local community. "I reach into the community and solve problems. I see a need and I put resources there," said Workman. He is an active board member of local organizations, including the Police Athletic League for local schoolchildren. Woodrum is heavily involved in America’s Promise, a White House initiative spearheaded by U.S. Secretary of State Colin Powell. A mentor to schoolchildren, Woodrum shares his personal story with them: "I started my banking career while I was a sophomore in high school here in Las Vegas. I was a stockroom clerk."

By their example, BankWest employees show how profit and people can be two sides of the same coin. "Most business banks don’t get involved in the community [to the extent that] we do. It’s difficult to do that and still be a high-performing bank the way that we are," says Woodrum. "I’m proud of our bank and what it’s accomplished."