Winner: Bank of Clark County
Kim Capeloto, president and chief operating officer
www.bocc.com
Net income growth between 2004 and 2005: 47.4 percent
Net income growth between 2005 and 2006: 59.9 percent
Coming off two years of around 50 percent net income growth each year, Bank of Clark County continues on a "fairly aggressive growth plan" in 2007, according to Kim Capeloto, president and chief operating officer, pictured at right.
The bank, which has one branch in Vancouver at 15th and Washington streets, will open another branch in east Clark County. Capeloto said the branch will open sometime in 2008, and is needed to consolidate staff members.
The additional branch will allow Bank of Clark County to penetrate further into East County with its courier service. With the service, Bank of Clark County customers receive free pick-ups each day of their cash and check proceeds. The couriers make 250 stops a day.
"It allows them to not take time out of their day to wait in a bank line," Capeloto said. "The next day we bring back receipts."
Capeloto said his bank is customer-focused and practices "relationship banking," deriving income strictly from interest and not fees.
"We don’t nickel-and-dime our clients," he said. "We’ve chosen not to hammer them with a fee every time they want something."
Bank of Clark County focuses on serving the business community. A large segment of its business comes from commercial and industrial loans – loans for equipment and renovations of commercial buildings.
"We are very blessed to be the bank to the cream of the crop of the building industry," he said. "The majority of our clients have been in their sectors for a long time and are well respected and well grounded builders."
The bank’s total loans increased from about $251 million in 2005 to $298 million in 2006, a 19 percent increase. Its total number of employees was 60 in 2005, 65 in 2006 and currently is 77.
– Sam Bennett Finalist: nLight Corp. Scott Keeney, president and CEO www.nLight.net
2005 to 2006 revenue growth: 100 percent
Number of employees: More than 200
nLight’s fast growth continues on pace, as the laser component manufacturer finds success in all its sectors.
"We are doing well across the board," said Scott Keeney, CEO, pictured. "The technology has improved so much, it’s leading to growth in all sectors."
nLight develops and makes high-power semiconductor diode laser components. They’re used in laser-based products in the industrial, medical, graphic arts and defense markets.
nLight has its corporate headquarters in Vancouver and manufactures here as well. It also owns nLight Shanghai and 30,000 square feet of office and manufacturing space in Hillsboro, which it acquired last year. Its number of employees has grown from 25 in 2002, to more than 200 this year.
nLight’s products are used in medicine, to aid in prostate surgery equipment, and in defense, to help infra-red counter-measure systems that defend large aircraft. Since forming in 2000, the company has raised more than $70 million in capital and received backing from Silicon Valley venture capital firms.
Keeney said the company continues to innovate and improve its products. In January, nLight released a new line of high-brightness diode lasers targeted for a variety of applications, including consumer, machine vision and DNA sequencing. The company’s proprietary technology means it can increase the laser power without sacrificing reliability or product life, he said.
While Keeney said all sectors served by the company are growing, he declined to be specific about which sector is performing best.
"We have a great team, very strong products and have done a lot of hard work," he said.
– Sam Bennett
Finalst: Miller Nash LLP
Stephen Horenstein, partner in charge, Vancouver
www.millernash.com
Increased profitability 32 percent from 2005 to 2006 while adding five attorneys
Thanks to Vancouver’s increasingly sophisticated business community, the Vancouver office of Miller Nash had a banner year in 2006.
The firm was formed in 1873 in Portland and in 1999, Miller Nash merged with the Vancouver law firm of Horenstein & Bremer to become the Southwest Washington office of the firm. There are also locations in Portland, Seattle and central Oregon.
In six years, the Vancouver office has grown from six attorneys and six staff members to 14 attorneys and 21 staff.
The office increased its revenue 24 percent from 2005 to 2006 and upped its profitability 32 percent during the same period. The firm also expanded its office space 45 percent to 11,600 square feet.
Initially, the Vancouver office focused on business, real estate and land-use matters. Now it offers a full complement of business services, including business formations, land use planning and transactions, commercial and real estate litigation, environmental permitting and compliance, real estate transactions and finance, and construction law.
"The business community is getting more sophisticated because of Vancouver’s growth and business movement from Oregon," said Stephen Horenstein, partner in charge of the Vancouver office. "We’re paying attention to what the market needs and growing to fit that need. We’re hiring the right people and filling them up with work."
For a law firm to get a third bigger in one year can be quite expensive, but the office was successful in increasing its profitability by relying heavily on in-house market research.
The office is currently creating a team of specialty lawyers from its four offices that will focus specifically on Vancouver clients’ needs in intellectual property, securities, banking, employment litigation and taxation issues on state and federal levels – another result of the region’s growing sophistication, Horenstein said.
Overall, Miller Nash encompasses 72 partners, 46 associates and a number of paraprofessionals, land-use planners and support staff.
– Megan Patrick
