Bob Coleman resigns as Islanders Bank president

Bob Coleman announced his resignation this week as president of Islanders Bank, citing medical concerns.

“I’m old enough to retire,” said Coleman. “I’ve got some medical things to take care of so I thought it would be in the best interest of me and my family, and certainly the bank, not to be a burden on anybody.”

He said he will first focus on getting his health in good shape.

“We’ll see what happens,” he said. “I’m on track. I’m trying to stay positive … I am going to miss it.”

Coleman was promoted to president, CEO and director of the bank in April 2008 to succeed Richard Kneipp, original president and CEO. Kneipp is still on the board of directors.

While the board determines Coleman’s successor, chairman Brian Brown and Kneipp will direct operations as interim officers.

“We hope it’s going to be for a very short time,” said Brown. “We’ll be having a board meeting very shortly … we will be out seeking a new CEO. The bank is running very well and very stable.”

Islanders Bank opened its Friday Harbor branch in 1980, opening on Orcas in 1988 and on Lopez in 1996. It became a wholly owned subsidiary of Banner Corporation in May of 2007.

“The bank has a great team of people and I think they’re going to continue to do well,” Coleman said. “The hardest part for me is I’m going to miss the people. They’re great people.”

Coleman has composed a warm thank-you letter to the community that can be viewed online here.