Exhibit 99.1

             EvergreenBancorp, Inc. Reports Continued Strong Growth

     SEATTLE--(BUSINESS    WIRE)--Oct.    27,    2004--EvergreenBancorp,    Inc.
(OTCBB:EVGG)  reported  strong  improvement in earnings for the third quarter of
2004. The company  reported net income of $301,000 or $.25 per diluted share, an
increase  of 28.6% over the  $234,100  or $.20 per share  reported  for the same
period in 2003. Year to date earnings are up 14.8% over the first nine months of
2003 ending at $866,700 compared to $754,900.
     Gerry Hatler, President and CEO said, "This is the strongest growth quarter
in the history of the bank.  The results  reflect the growth  initiatives  begun
four  years ago,  coupled  with the  continuing  emphasis  on managed  growth of
expenses." Net interest income before provision for loan losses is up 9.67% year
over year, and non-interest expense has increased only 4.50% over the prior year
to date.
     Hatler  continued,  "In  the  past  three  years,  we  have  added  two new
locations.  Our fifth location is scheduled to open in early  November.  We have
carefully selected each of our locations in high growth opportunity areas."
     The success of this strategy is reflected in record  levels being  achieved
in both loans and deposits.  Loans  outstanding at September 30, 2004 reached an
all time high of $146.3 million,  a 21.8% increase over the same time last year.
Deposits also posted an all time high of  $161.7million,  an 11.6% increase over
2003.  These  record  levels  supported  the  growth  in total  assets to $199.9
million, another record, and a 7.7% increase over the same period last year.
     "The record size of our balance sheet is  underscored  by its strength with
excellent   asset  quality  and  a  strong  capital   position,"   Hatler  said.
Non-performing loans at .25% of loans have improved  significantly over the .82%
recorded at the end of the third quarter last year.  The capital to assets ratio
remains strong at 8.58% of assets compared to 8.72% one year ago, reflecting the
leveraging of stockholders equity as loan and deposit totals increase.
     Founded in 1971, EvergreenBank is a subsidiary of EvergreenBancorp, Inc., a
bank holding company headquartered in Seattle, Washington.  EvergreenBank is one
of the few locally owned,  independent  community  banks left in the Puget Sound
region  and offers a full  suite of  personal  and  business  banking  services.
Services  include  commercial,  real  estate,  and  consumer  lending;  savings,
checking, and certificate of deposit accounts; financial planning and investment
services; Internet banking; and merchant credit card processing services.
     The  EvergreenBank  brand of caring,  attentive,  "once and done"  customer
service is one of the  reasons  customers  remain  loyal to the bank.  Many have
banked with  EvergreenBank  for 30 years or more.  EvergreenBank  operates  four
full-service branch offices located in Downtown Bellevue, Lynnwood, Federal Way,
and the Cascade  neighborhood of Seattle. A fifth branch is scheduled to open in
the South Lake Union community of Seattle early next month.
     EvergreenBancorp stock trades on the Over-The-Counter  Bulletin Board under
the EVGG symbol.  Visit  www.evergreenbank.com  or  www.evergreenbancorp.com  to
learn more.


    CONTACT: EvergreenBancorp, Inc.
             Bill Filer, 206-628-4263
             bill.filer@evergreenbank.com
             or
             Nancy Juetten, 425-641-4214
             nancy@nsjmktg.com