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Mike Sickels, People's Bank co-founder, dies at 72 By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jun. 14, 2016 @ 4:24 pm Updated Jun 14, 2016 at 5:06 PM By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jun. 14, 2016 @ 4:24 pm Updated Jun 14, 2016 at 5:06 PM » Social News p bs:newslist StartDate="20121121" EndDate="p bs:datecalc Months="3"" DateSort="1" UseObjects="1" ObjectClass="81" Taxonomywords="2325,665" ExactTaxonomyMatch="1" Image="1" Count="4" --> People's Bank of Commerce co-founder Mike Sickels died June 7 at his home in Coos Bay following a short bout with cancer. Sickels, 72, retired from day-to-day duties eight years ago, but remained chairman of the bank's board until his death. Sickels and present People's Bank CEO Ken Trautman were co-workers at Western Bank for five years prior to its acquisition by Washington Mutual in 1996. "Mike was the CFO, and I was the regional administrator," said Trautman. "We had offices next to each other for five years, and we both found ourselves unemployed. Neither of us was ready to retire." Over the next two years, Sickels and Trautman drew up plans for what today is the only locally owned bank in Southern Oregon. "Starting a bank was the last thing I ever thought Mike would do," Trautman said. "He was the most conservative, totally risk-averse person I knew, and he put his entire fortune into starting the bank." "Mike knew regulators and policies, and I knew marketing and customers," Trautman said. "It made for a good team." After two years of laying the groundwork and drawing no salary, the men opened People's Bank on Biddle Road in March 1996. "We weren't paid a nickel during that start-up period, so after living more than a year without a salary, we were very excited when we were finally able to open," Trautman said. Of the half-dozen state and federally chartered banks launched in Jackson County over the past 50 years, only People's Bank has survived. Some merged, some failed. The 400,000 shares in the bank's initial $4 million stock offering sold in just 16 working days, prompting a second $2 million offering of 200,000 shares. "People were very wary about new bank start-ups," Trautman said. "Our biggest fear was that we wouldn't be able to sell stock. But it was during the dot-com era when anyone selling stock sold it instantly; it was irrational." Sickels preferred keeping higher levels of capital and liquidity rather than expanding rapidly, and he didn't like fees. "He was a real advocate for the consumer," Trautman said. "Bankers have reputations for taking advantage of every opportunity, but Mike hated service charges and overdraft fees because of the impact on the customers. When we ran into customers and shareholders at the supermarket, we never had to be embarrassed because Mike always did the correct thing. He was never self-serving." Sickels was born June 19, 1943, in Seattle. He graduated from Central Linn High School as valedictorian in 1961. He landed his first banking job in 1962 as a teller at Bank of Shedd in the Willamette Valley. He later worked for Bank of Central Oregon until it was purchased by Western Bank in 1972. In 1973 he moved to Coos Bay, where he was promoted three years later to executive vice president at Western Bank before becoming CFO and corporate secretary. Sickels moved to the Rogue Valley in 1993 when Western Bank relocated its headquarters to Medford. In 2006, he was inducted into the Oregon Bankers Association Bankers Hall of Fame. A celebration of life will be held at noon Saturday, Sept. 17, 2016, at Bastendorff Beach RV Park pavilion near Coos Bay. Reach reporter Greg Stiles at 541-776-4463 or [email protected] . Follow him on Twitter at www.twitter.com/GregMTBusiness , on Facebook at www.facebook.com/greg.stiles.31 . By Greg Stiles Mail Tribune Follow @@GregMTBusiness MailTribune.com By Greg Stiles Mail Tribune Follow @@GregMTBusiness Posted Jun. 14, 2016 @ 4:24 pm Updated Jun 14, 2016 at 5:06 PM » Comment or view comments Terms of Service /* $( document ).ready(function() { // Jquery mobile is trying to style the button and leaving a blank gry button on top of a white button $("#viafouracoms .vf-comment-controls li.vf-right").html(' Submit '); });*/ » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. 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