Bank Flourishes in Tough Times
June 22, 2011 — Puget Sound Business Journal — Puget Sound Bank’s journey demonstrates the importance of sticking to a business plan and also shows that not all Washington state banks were lured by the opportunity to lend to developers as the housing market grew. While the bank makes commercial real estate loans, it’s not at the same high level as some of its competitors.
“We could have gone in and done more commercial real estate,” Mitchell said. “We stuck with our knitting.”