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Puget Sound Bank Earnings Increase 53% in 2012

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January 16, 2013 — Puget Sound Bank (OTCBB: PUGB), today reported that net income for the year increased 53% to $1,932,612 or $.78 per share compared to income of $1,263,963 and $.40 per share for 2011. Net income for 4Q was $359,516 or $.14 per share.

“Puget Sound Bank’s performance was outstanding in 2012,” said Jim Mitchell, President and Chief Executive Officer. “The bank’s earnings grew by 53%, loan and deposit growth continues to be among the highest in the State and nonperforming assets improved to 0.85% of assets.”

Read the complete earnings release.

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January 16th 2013 |