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Profits Increase 40% in Second Quarter

You are here now : Puget Sound Bank > News > Profits Increase 40% in Second Quarter

Results Driven by Acquisition,
Organic Growth and Excellent Credit Quality

July 16, 2014 — Puget Sound Bank (OTCQB:PUGB) reported net income for the second quarter 2014 of $668,798 or $.22 per share, a 40% increase as compared to $476,416 or $.18 per share for the second quarter of 2013.

Puget Sound Bank’s loan portfolio increased 21% compared to a year ago to $300.7 million as the Bank continues to focus on relationships with small- and medium-sized businesses. Commercial and industrial (C&I) loans account for approximately 63% of the Bank’s portfolio, placing the Bank in the top 15% of all commercial banks in Washington state as a percentage of total loans.

Read the complete earnings release.

July 16th 2014 |