Peoples Bank, a locally owned and operated, independent full-service community bank with over $1.6 billion in assets, announced the appointment of Peter Cutbill as Executive Vice President and Chief Credit Officer. Peter succeeds Terry Daughters, who will retire from the Bank later this year.
Peter joins Peoples Bank with over 30 years of banking experience, most recently as Senior Vice President and Chief Lending Officer at Skagit Bank. In this role, Peter managed all commercial loan production across Skagit Bank, growing the Bank’s loan portfolio by 44 percent over the past three fiscal years.
“We are excited to welcome Peter to Peoples Bank. His longtime presence in the community and extensive knowledge and experience in commercial lending, credit administration and special credits make him highly qualified for this position and a tremendous asset to our executive team,” said Charles LeCocq, Peoples Bank Chairman of the Board and Chief Executive Officer. “At the same time, we owe a deep debt of gratitude to Terry for his valuable contributions to Peoples Bank over the years, and we wish him well in his upcoming retirement.”
Peter has worked in Whatcom County for the past three decades as a community banker. He is deeply involved in the community having served as co-chair of the Bellingham/Whatcom Chamber of Commerce, president of Junior Achievement of Whatcom, Skagit and Island counties, and president of the Downtown Bellingham Partnership. Peter was an adjunct faculty member of Whatcom Community College and holds a bachelor’s degree in economics from the University of Toronto, and Master of Business Administration degree from the University of Buffalo. He is a respected member of the Western Washington Banking Community.
Celebrating Terry Daughters’ 20-Year Legacy
Terry joined Peoples Bank in 1999 as a Commercial Loan Officer. In 2009, he was promoted to Senior Vice President and Commercial Banking Team Leader, taking responsibility for all commercial lending activities in Whatcom County. In 2014, Terry was promoted to his current role of Executive Vice President & Chief Credit Officer where he is responsible for all aspects of portfolio underwriting and loan portfolio risk management. Terry was appointed to the Peoples Bank Board of Directors in 2017, where he will remain on the Bank’s Senior Loan Committee and will help lead the Bank’s future growth.
A lifetime resident of Whatcom County, Terry is active in the community with past roles including president of the Bellingham Central Lions Club and member of the City of Bellingham’s Budget Advisory Committee. He earned a Bachelor of Science degree from the University of Washington and is a graduate of the Pacific Coast Banking School.
About Peoples Bank
Peoples Bank is a locally owned and operated, independent full-service community bank with over $1.6 billion in assets. Headquartered in Bellingham, Washington, the Bank was founded in 1921 and operates 25 branches located throughout Washington. In its most recent rating, Bauer Financial, a leading independent bank rating firm, awarded Peoples Bank its highest five-star superior rating. This rating recognizes Peoples Bank’s strong financial management practices, dedicated employees and long-standing customer relationships. Learn more about Peoples Bank at https://www.peoplesbank-wa.com/.