Prominent, 62-year Magnolia resident and retired Seattle banker Richard E. Bangert passed away peacefully June 20, 2012 after a short illness. He was born in Buffalo, N.Y. on June 28, 1920.
Dick attended Manlius School (a military boarding school) in Manlius, N.Y. and the University of Pennsylvania, Wharton School of Finance & Commerce. Immediately after receiving his Bachelor of Science degree in Economics he was called to active duty in the Air Force as a Second Lieutenant and was ordered to Great Falls, Montana where he met Betty Jane Boswell who became his wife in 1943. In 1945 after returning from China-Burma-India theatre as a Major, he started work as a credit analyst to Seattle-First National Bank. In 1951 he was elected Assistance Cashier and Manager of the Credit Department and a year later promoted to Assistance Vice President and lending officer.
In 1955 Mr. Bangert joined Foster & Marshall (members of the New York Stock Exchange) as a general partner. From 1959 to 1967 he was Vice President of General Insurance Company (now Safeco) as head of their Surety Bond Department. Moving back to the banking business in 1967, he was elected a Vice President and Manager of the Bank & National Group at Seattle- First National Bank.
From 1972 to 1977 he served the Pacific National Bank of Washington as Executive Vice President, President, Chief Executive Officer and Chairman of the Board. From 1977 until his retirement on July 1, 1985, he was chairman of the Board of First Interstate Bank of Washington now Wells Fargo Bank. For many years he served as an arbitrator for the New York Stock Exchange.
During his active business career, he served on Board of Directors of Farmer Group, Inc., Los Angeles; Fred S. James Co., Chicago; Farmers New World Life Insurance Company, Mercer Island; King Broadcasting Company and Sea Pac Sales Company, both of Seattle.
He served on the board of several not-for-profits including the Northwest Kidney Centers, N.W. Kidney Centers Foundation, Life member of the YMCA of Greater Seattle, Salvation Army Advisory Board, Chairman Emeritus of the Museum of Flight, past President of the Washington State Bankers Association, Trustee Emeritus of Independent Colleges of Washington, past President of the Downtown Seattle Association and Emeritus Trustee of Casey Family Programs.
In 1986 he was honored as Distinguished Eagle Scout for outstanding service to the community. In 1937 he attended the first national Boy Scout jamboree held in Washington D.C. and later that same year attended the 5th World Jamboree in Amsterdam, Netherlands.
In 1985 he was presented with an honorary Doctor of Law degree by Gonzaga University. In 2003, the Emerald City Alumni Club of the Phi Delta Theta awarded the Jim Richard Founders Award to Dick as an outstanding Alumnus. Although he appreciated his business and civic accomplishments he has always been most happy when piloting his Cessna airplane to the family’s second home on Orcas Island.
He was predeceased by his loving wife Betty Jane May 6, 2010 to whom he was married for 67 years. He is survived by his son Richard E. II, daughter-in-law Dawn and his grandchildren Richard E, III, Bart and Bonnie. He was an active member of the University Club, Rainier Club, past President of Harbor Club, Seattle Golf Club, Phi Delta Theta Fraternity, and Rotary Club of Seattle where he was a Paul Harris fellow.
At Dick’s request only a private family celebration of life will be held at his home. Remembrances may be made to the Virginia Mason Foundation at PO Box 1930, Mailstop: D1-MF., Seattle, WA 98111 or to the Richard E Bangert Endowed Business Award Scholarship at the Independent Colleges of Washington, 600 Stewart Street, Suite 600, Seattle, WA 98101.