Mirage Introduces Towable RV

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					Letter from the President by Rob Perez                                                                                                                                                                            Visit          us     o nline           at      w w w.weste rncap it alban k .com

 O         ne of our bankers recently
           returned from a trip to Hawaii.
           Knowing that I had been to
Hawaii for vacation, he recounted his
                                                                                                 situating his cart, he took a deep breath
                                                                                                 and then—with lightning speed—he
                                                                                                 removed the silverware, glasses, cups,
                                                                                                 plates and sundries, placing items
                                                                                                                                               recognize it
                                                                                                                                               is important
                                                                                                                                               not only to the
                                                                                                                                               company, but to
surfing lessons and time on the beach.                                                           strategically in his apron and on the cart.   the employee as
I presume this was meant to conjure up                                                           In seconds the table was clean and a fresh    well. What do
fond memories of my Hawaiian vacation.                                                           table was set.                                you do to define
While mental images of sun and surf did                                                            After witnessing this feat over a couple    excellence for
come to mind, I could not help recalling a                                                       of days, I finally approached this table      your
very different image of Hawaii, one that                                                         magician and told him how impressed I         company and                                                                Q UA RT E R     2 2 0 1 1 | VO L . 3 | I S S U E 2
had nothing to do with the usual tropical                                                        was with his skills. He smiled, thanked       your employees? Do you recognize
associations.                                                                                    me and then proudly informed me he was        exceptional performance in your
  A few years ago I was staying at a resort                                                      Island Table Busing Champion three years      workplace? At Western Capital Bank we
hotel on Maui. Every morning we would
go to breakfast before embarking on our
                                                                                                 running. Apparently the resort hotels held
                                                                                                 an annual competition for various hotel
                                                                                                                                               are developing a Service Quality program
                                                                                                                                               designed to define and recognize
                                                                                                                                                                                                      Fukushima, VCU, and The Recovery
daily activities. During my first morning                                                        jobs as a way to recognize excellence and     excellence in banking. We want to exceed               by John Mitchell
I noticed something very unusual. After                                                          encourage working efficiencies. I took        your expectations in every way. While
the hotel guests completed their breakfast                                                       three things away from this experience:       banking may be the only profession less                          he recovery from the Great              more attractive.                                  Fred Dixon Named
and left, an employee would bus the table.
I know there is nothing special about
                                                                                                 first, I need more vacations if this is my
                                                                                                 best memory of Hawaii; second, anyone
                                                                                                                                               exciting than busing tables, we are doing
                                                                                                                                               our best to be your “Banking Champion.”
                                                                                                                                                                                                                Recession is nearing its second year,
                                                                                                                                                                                                                but it might best be described as a
                                                                                                                                                                                                                                                        Earthquakes, tsunamis
                                                                                                                                                                                                                                                        and political unrest
                                                                                                                                                                                                                                                                                                          Vice President and
someone busing tables, but the way this
busser did it was something to behold. He
                                                                                                 doing a job extraordinarily well is to be
                                                                                                 admired and recognized (the nature of the
                                                                                                                                                                                                      shocked recovery. Output has regained             in or near a center of                            Relationship Manager
approached each table wearing a                                                                  job matters not); finally, providing                                                                 pre-recession levels, but employment is more      global oil production
custom-made apron and, after                                                                     opportunities to define excellence and                       Rob Perez, President & CEO              than 7 million jobs below the January 2008        are like Taleb’s Black                               Western Capital Bank has announced the
                                                                                                                                                                                                      peak. The employment numbers have                 Swans that impact our                             addition of Fred Dixon as Vice President
                                                                                                                                                                                                      improved with a net increase in payroll jobs      environment and yet                               and Relationship Manager, Commercial
                                                                                                                                                                                                      of 205,000 per month in the last two months       were not part of the                              Banking Division.
                                                                                                                                                                            PRSRT STD                 and falling initial unemployment claims.          outlook (see VCU). The downside risks have           Dixon brings 20 years of banking and
                                                                                                                                                                           U.S. POSTAGE
                                                                                                                                                                                                      Excitement over recent improvements has           increased, but would not seem to be enough
                                                                                                                                                                                                                                                                                                          finance experience
                                                                                                                                                                                                      been tempered by the incredible images from       to end the upturn.                                to Western Capital
                                                                                                                                                                            BOISE, ID                 the earthquake and tsunami in Japan—a               The possible long-run implications of recent    Bank. Most recently,
1750 West Front Street, Suite 150                                                                                                                                          PERMIT #308
       Boise, ID 83702                                                                                                                                                                                human and economic disaster, combat footage       events are fascinating to contemplate. The        he was a Regional
                                                                                                                                                                                                      from Libya, the drama of nuclear accidents,       futures for carbon-free nuclear energy, newly     Sales Manager for
Monday - Friday 8:30am - 5:30pm                                                                                                                                                                       and a March Madness with no top seeds and         abundant natural gas and traditional coal have    Wells Fargo,
                                                                                                                                                                                                      Virginia Commonwealth University. Energy          become more uncertain. Recent years have          specializing in
                                                                                                                                                                                                      prices have soared, as have food prices, where    seen increased use of the just-in-time system     agricultural and
             FAX: 208.332.0750
                                                                                                                                                                                                      a combination of rising incomes,                  with low inventories and a global supply          commercial projects.                                                                                                                                                                           weather-impacted production, and public           chain. The risks of this have been exposed        He will use that
                                                                                                                                                                                                      policy to fill gas tanks with food pushed         and may, over time, bring more diversification    extensive experience to grow commercial
                                                                                                                                                                                                      prices up. Energy shocks are a familiar           of sources and geography as well as higher        loans and deposits while providing
What’s Inside:                                                                                                                                                                                        event to most Americans: we had yet another       inventories. All this and it is only the          outstanding customer service.
                                                                                                                                                                                                      president go on TV and say that we would          second quarter.                                      “Fred brings a tremendous amount of
Economic Outlook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1                                                                                                                                                                                                                        agricultural and commercial lending
In Brief . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2                                                                                                                                                                                                      expertise to Western Capital Bank. His
Spotlight: Angell’s Bar & Grill . . . . . . . . . . . . . . . . . . . . . 2                                                                                                                            “The possible long-run implications of recent                                                      strong banking background and
                                                                                                                                                                                                                                                                                                          demonstrated client service skills will
Mirage Introduces Towable RV . . . . . . . . . . . . . . . . . . . 4
                                                                                                                                                                                                         events are fascinating to contemplate.”                                                          enable us to maintain our aggressive growth
                                                                                                                                                                                                                                                                                                          plans,” said Rob Perez, WCB President
                                                                                                                                                                                                                                                                                                          and CEO.
                                                                                                                                                                                                                                                                                                             Dixon earned a Bachelor of Science in
                                                                                                                                                                                                      reduce our dependence on imported oil—              In early 2010, two states were experiencing     Agricultural Business Management from

 Mirage Introduces Towable RV
                                                                                                                                                                                                      joining virtually all of his predecessors since   year-over-year job growth, but, by the same       Penn State University.
                                                                                                                                                                                                      Richard Nixon. (There are some advantages         time in 2011, 44 states had gains, Idaho

                                                                                                                                                                                                      to being old.) Demand for gasoline in the         being one of them. In the 12 months to
                                                                                                                                                                                                      short run is not very sensitive to price—         March, payroll employment has increased
                                                                                                                                                                                                      inelastic for those who remember their            by 1.3 million, but remains 7.26 million jobs
                                                                                                                                                                                                      economic class. We spend more on energy,          below the most recent peak. The job gains
                                                                                                                          The poor economy has wreaked havoc on the RV industry. Gas prices
                                                                                                                                                                                                      and now food, and have less to spend on other     will, over time, support personal income and
                                                                                                                         are up. Sales are down. The result? Several manufacturers have
                                                                                                                                                                                                      things, hence a dampener for U.S.                 spending and stabilize the residential markets.
                                                                                                                          succumbed and closed operations.
                                                                                                                                                                                                      performance. The Japanese disaster is             But the hole is deep and the climb will be
                                                                                                                             But not Nampa-based Mirage Trailers—they’re growing.
                                                                                                                            In fact, this manufacturer of cargo trailers, snowmobile and ATV
                                                                                                                                                                                                      disrupting a global supply chain with many
                                                                                                                                                                                                      of the things that we buy being an
                                                                                                                                                                                                                                                        long. Idaho continued to have the most
                                                                                                                                                                                                                                                        rapidly declining home prices in the nation
                                                                                                                             trailers is using their know-how to expand with a full line of towable
                                                                                                                                                                                                      amalgam of parts from around the globe.           in the fourth quarter of 2010, and Boise was
                                                                                                                              RVs: the Illusion Series. The new RVs will offer several options,                                                                                                             Want WCB Advantage
                                                                                                                                                                                                      This is challenging the integrated global         among the weakest 20 metro areas, according
                                                                                                                               including a 19’ model and two high-end, 26’ and 28’ models with                                                                                                              sent directly to your
                                                                                                                                                                                                      production system. The spectacle of an            to the Federal Housing Finance Agency. The          email inbox?
                                                                                                                               large slide-outs.
                                                                                                                                                                                                      advanced nation with major disruptions of         price declines/affordability increases—when
                                                                                                                                 “We are seeing a demand for RVs since the industry lost several                                                                                                            Visit:
                                                                                                                                                                                                      electrical power, transportation and              combined with low levels of new
                                                                                                                              players during the economic downturn,” said Rob Swikert,                                                                                                            
                                                                                                                                                                                                      communications is sobering as we watch the        construction and employment growth—will
                                                                                                                               President of Mirage Trailers. “We think it’s a great time to put our                                                                                                         E-mail:
                                                                                                                                                                                                      events on flat screen TVs, iPads, and talk        ultimately start the residential rebound.
                                                                                                                                unique expertise and experience in trailer manufacturing toward                                                                                                   
                                                                                                                                                                                                      about it on our cell phones. For those in         Nationally the run-up in home prices is gone
                                                                                                                                 building a quality RV trailer.”                                                                                                                                            Call:
                                                                                                                                                                                                      Western Oregon and Washington, the                with Case Shiller reporting that prices are
                                                                                                                                  Learn more at                                                                                                                                     208.332.0700
                                                                                                                                                                                                      Cascadia subduction zone and its earthquake       back to mid-2003 levels; the leftovers remain
                                                                                                                                                                                                      implications bounced briefly onto the front       and are being disentangled.
                                                                                                                                                                                                      pages of the newspapers, making Idaho look          Meanwhile the recovery grinds on.
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            W C B            |        C L I E N T                 S P O T L I G H T

                                                                                      RECIPE FOR

                                                                                                                                                                                                                              Company:                                  Founded:
                                                                                                                                                                                                                              Angell’s Bar and Grill                    1981 by Bob Angell

                                                                                                                                                                                                                              What:                                     Located:
                                                                                                                                                                                                                              Fine indoor/outdoor                       Corner of 9th and
                                                                                                                                                                                                                              dining in Downtown Boise                  Main Streets in courtyard

                  or Angell’s Bar and Grill, staying power has meant                   recent change, says long-time general manager Curt Knipe.                       and new, innovative dishes, including steaks and fish.                               the years,” he says. “Customers
                  staying in motion.                                                     “In the restaurant business, every eight or so years you must                   “It sounds a little cheesy, but we truly view our food as a form of art,” Knipe    come in and say they like it the
                    Since its founding in 1981, the Boise fine dining                                 give something back to your customers in                         says. “In the past it may have been about serving a large volume of food, but        way Angell’s used to do it.
                  restaurant has been consistently focused on                                                                                                                                                 now we’re more focused on quality and         When we explain to them

                                                                                                                     Angell’s is happy to indulge
       keeping things fresh. For                                                                                                                                                                              how the food is presented.”                   that we can still prepare
       example, even                                                                                                                                                                                            Despite these efforts to constantly         it that way, too, they
       after 30 years in                                                                                                                                                                                      improve, Knipe is quick to point out that     often choose to
       business, the staff
       holds weekly
                                                                                                                 customers’ love of their old favorites.                                                      Angell’s is happy to indulge customers’
                                                                                                                                                                                                              love of their old favorites. “We’ve served
                                                                                                                                                                                                              our ahi [tuna] many different ways over
                                                                                                                                                                                                                                                            try the new dish.
                                                                                                                                                                                                                                                            People enjoy trying
                                                                                                                                                                                                                                                            new things.”
       menu meetings to
       discuss what’s                                                                                    order to remain fresh and relevant,” Knipe says.
       working, what’s                                                                                      Knipe explains that while the restaurant had
       not and what can                                                                                   gone through many renovations over the years,
       be improved.                                                                                       most were just updates to the established look.
         The result is a                                                                                   “In the past we’d spend $80,000 to $90,000
       restaurant that                                                                                     on a remodel and nobody noticed because we
       mixes the                                                                                            didn’t change our colors or theme or anything
       sort of comfortable                                                                                  else significantly,” he says.
       familiarity you’d                                                                                      This renovation, in contrast, touched every
       expect after decades                                                                                 single surface in the restaurant, transforming
       in the same location                                                                               with a stylized Tommy Bahama-meets-Out
       with just the right                                                                              of Africa décor.
       amount of surprise.                                                               “It was a spectacular change,” Knipe says. “The response has
         Angell’s has gone through many updates throughout its                         been phenomenal.” Along with the change in the interior design,
       history, but none grabbed the attention of patrons like its most                Angell’s continues to update its menu with a mix of old favorites

                                                                                                                         IN BRIEF...
                                                                                                                                                                                                                                                           Western Capital
                    Idaho Law Report Keeps                                                           Thanks for                                                        Internet Surpasses Branches                                                         Bank Contacts
                    Attorneys in the Know                                                            Three Great Years                                                 as Preferred Banking                                                                COMMERCIAL BANKING (LOANS):
                                                                                                                                                                                                                                                           Mike Jaeger | 208.332.0716
                                          Looking for an easy way to keep up with                        We’re honored to be celebrating three                            The traditional retail branch has taken a backseat to the internet when          Stuart Kerber | 208.332.0708
                                        what’s happening in Idaho’s legal community?                   great years of banking this month.                              it comes to how and where consumers now prefer to do their banking.       
                                        The Idaho Law Report is a blog that covers the                   We opened our doors with no loans and                         According to a study by Ipsos-Public Affairs for the American Banking               Jack Nowatzki | 208.332.0704
                                         legal profession across the state, from                       few deposits and, since then, we have grown                     Association, 36% of consumers prefer to bank via the internet compared
                                          courtroom news to upcoming CLE courses to                    to $90 million in loan commitments and                          to only 25% who prefer branches. The other up-and-coming technology
                                                                                                                                                                                                                                                           Rob Perez | 208.332.0701
                                          tips on how to run a more effective practice.                $64 million in deposits. Total assets should                    option, banking via a mobile device, is way back of the pack, with only
                                                                                                       exceed $100 million shortly. With roughly                       3% preferring to bank on the go.                                          
                                               Western Capital Bank is proud to sponsor
                                            the Idaho Law Report as a way of supporting                45% of banks in America having total assets                                                                                                         Sheila Spangler | 208.332.0702
                                             those in the legal profession. Like                       less than $100 million, to achieve this level                                         Mobile 3%        Unknown 7%
                                                                                                                                                                   Telephone 6%
                                                                                                                                                                                                                                                           Fred Dixon | 208.332.0724
                                              everything, of course, it is a team effort.
                                              It relies on the generous assistance of our
                                                                                                       of growth in just three years is something
                                                                                                       we are very proud of.
                                                                                                                                                         Mail 8%                                                           Preferred             
                                                                                                                                                                                                                           Banking Method

                                               contributors. If you have information that                 Thank you to all our customers who have
                                               you think would be useful to the legal                  enabled this growth in such a challenging                                                                                                           RELATIONSHIP BANKING (DEPOSITS):
                                                community, please share it.                            economy.                                          ATM’s   15%                                                                                       Jeff Banks | 208.332.0718
                                                   Learn more at                                                                                                               Internet   36%           * Information courtesy
                                                                                                                                                                                                                            of Ipsos-Public Affairs
                                                                                                                                                                                                                            for the American Bank-         Tammy Johnson | 208.332.0707
                                                                                                                                                                       Branches   25%                                       ing Association
                                                                                                                                                                                                                                                           Tara Penland | 208.332.0714

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