Cashmere Valley Bank was established on September 24, 1932 by Hy W. Rieke and H.H. Rieke, who had moved to Cashmere after selling their interest in a bank in Odessa, Washington. Cashmere was chosen as the site to begin the new bank because the community was without a financial institution after the failure of two banks at the beginning of the Great Depression. The brothers, along with two employees and $30 thousand in capital began serving customers in the upper Wenatchee Valley.

Hy Rieke served as President of the Bank for 37 years, and with his brother Herman, met the banking needs of the families and businesses of Cashmere until 1969 when Ron Trimble was elected President of Cashmere Valley Bank. The Bank had grown to 11 million in assets with $300 thousand in capital, and a staff of 13, all located at the Cashmere Office.

By the mid 1970s, 50% of the Bank’s business came from the Wenatchee and Leavenworth communities. To better serve those customers, the Maple Street Branch was opened in 1977 followed by the Leavenworth Branch in 1978.

In 1984, the East Wenatchee Branch was opened, followed by the Chelan Street Branch in 1988 and the Easy Street Branch in 1992. The expansion of the branch system was necessary to better serve the Bank’s growing customer base.

In 1986, the bank established a Mortgage Department to make available secondary market mortgage products to our many customers. That department is now located at the Easy Street location after outgrowing offices at first the Cashmere Branch and then the Chelan Street Branch.

In January of 1993, when Ken Martin was elected President, the Bank had grown to $248 million in assets, the capital to $24 million and a staff of 123 dedicated employees.

Providing a broad range of quality products and services for our customers has always been an emphasis at Cashmere Valley Bank. In 1996, the Bank's Financial Services Group was born. Since that time, this group has grown to include Freedom Financial Advisors, Mitchell, Reed & Associates, dealer banking, commercial leasing, and contract purchasing. These affiliates and divisions of the Bank moved into their new location at 124 E. Penny Road in Wenatchee in 2002.

In 1999, the Internet Branch opened offering our customers real time access to their account information with our Online Banking service.

In 2003 Cashmere Valley Bank expanded the branch system to include a new office in Ellensburg and Cle Elum to bring community banking to Kittitas County as the Wenatchee Valley knows it.

Today, we are proud to report that Cashmere Valley Bank's assets exceed $610 million and capital is over $50 million (Year-End 2003). There are currently 180 employees to serve your financial needs. Cashmere Valley Bank is a full service financial institution. We are committed to serving all of our customers needs, whether it's from one of our convenient offices, departments, or ATMs.

The success of Cashmere Valley Bank is the result of maintaining a high level of personal service and controlling expenses so our fees and charges offer our customers the best value available. We remain committed to those principals that we feel are best summarized as, "the little Bank with the big circle of friends."