REVIEW BAINBRIDGE ISLAND
A BEE WITH A SILLY STING: BPA presents angsty comedy. A10
FRIDAY, FEBRUARY 1, 2013 | Vol. 113, No. 5 | WWW.BAINBRIDGEREVIEW.COM | 75¢
Feds file lawsuit against directors MEMBERS OF FAILED AMERICAN MARINE BANK BLAMED FOR NEGLIGENCE BY RICHARD D. OXLEY Bainbridge Island Review
READY FOR ITS CLOSEUP Work wrapping up on new downtown art museum
Richard D. Oxley / Bainbridge Island Review
Construction workers with PHC Construction carefully install the first pane of glass in the “Beacon” at the Bainbridge Island Museum of Art.
Island’s newest asset begins to look a lot like itself BY RICHARD D. OXLEY Bainbridge Island Review
It was a sight to see for the select few aware of its significance. Eyes were locked and pictures were taken as the first pane of glass
was installed in the “Beacon” at the Bainbridge Island Museum of Art. “It’s special glass; the shapes are challenging,” said island architect Matthew Coates. “The wall tilts out.” The Beacon is the tall stretch of glass windows that reaches out toward the corner of Winslow Way and Highway 305. It is the main attraction for passersby; an imposing, transparent tower of windows
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providing a first impression of the museum. “It will be entirely glass, well-lit, and it will welcome people to this corner as they arrive from the ferry,” said Renate Raymond, the museum’s development and marketing director. “It’s a beacon to the island,” she added. Raymond has been in charge of fundraising for the museum.
Donors have put forth $1.2 million toward the project, in addition to a $1.5 million gift. Coates and Raymond provided the Review a tour of the museum amid the heavy sounds of saws and hammers working steadily toward the grand opening in June. For months the corner of Highway 305 and Winslow Way has SEE MUSEUM, A16
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R E A L E S TAT E
Ten former directors and officers of Bainbridge Island’s defunct American Marine Bank are being sued over allegations of allowing $18 million in irresponsible loans. The bank originally opened in 1948 by islanders who desired a financial institution a little closer than Seattle. When the bank went under on Jan. 29, 2010, the Federal Deposit Insurance Corporation took over responsibility of American Marine Bank’s finances. The FDIC is suing four officers and six directors of the bank for breach of fiduciary duty, gross negligence and negligence, according to documents filed in the U.S. District Court in Tacoma on Jan. 25. A jury trial has been demanded by the FDIC. Allegations range from officials using high-risk growth strategies and poorly collateralized loans, to directors ignoring regulatory SEE FEDS, A8
BAINBRIDGE ISLAND