The new Puget Sound National Bank at Midway. Puget Sound National Bank opened in Midway, part of unincorporated King County, in 1955 but because of state banking regulations it was run as a separate bank until Midway was incorporated by the city of Kent in 1959. To finance the new bank, Reno Odlin personally borrowed $160,000 from Wells Fargo Bank and became its president and sole stockholder. On 5/1/1955, Midway signed an agreement with Puget Sound National Bank of Tacoma that provided the fledgling bank with equipment, credit overlines, personnel hiring and the use of the newly completed building, provided rent-free. The following day, the bank opened its doors as Puget Sound National Bank of Midway. The bank was located on Pacific Highway 99 at the intersection of the Kent Des Moines Highway. The rambling ranch style building of green stone and "Texture One-Eleven," introduced by the DFPA, would serve the growing communities of Kent, Des Moines, Federal Way, Burien and Auburn. It had interior walnut paneling, terrazzo floors and exposed Douglas Fir beams. Puget Sound Bank did not venture out of Pierce County again until 1970. ("Banking on Independence" Provorse & TNT 5/1/1955, pg. C-23)
Puget Sound National Bank (Midway); Banks--Midway; Banking--Midway;