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You are here now : Puget Sound Bank > News > Articles by: Brad Ogura

PSBJ Reports on PSB Succession Plan

2017 May 18 by

May 18, 2017 — Yesterday Puget Sound Business Journal staff writer Ashley Stewart reported on Puget Sound Bank’s news that a succession plan has been announced for Jim Mitchell, longtime president and chief executive officer.

Sean Brennan has been promoted to president and will continue to serve as chief lending officer. Mr. Mitchell will continue to serve as CEO and a director for the next year, retiring in May 2018.

Read the complete PSBJ story here.

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PSB Named a Top Corporate Philanthropist by PSBJ

2017 May 17 by

May 17, 2017 — Puget Sound Bank has been recognized by the Puget Sound Business Journal as one of Washington state’s top corporate philanthropists. The Corporate Citizenship and Healthy Community Champion Awards luncheon held today at the Seattle Sheraton honored corporate philanthropists and companies who have made significant contributions in Washington.

Puget Sound Bank placed on the Journal’s “Corporate Philanthropists – Small” category (revenue of $20 million or less) at position 7, up from position 10 last year. For the past nine years the Puget Sound Business Journal has compiled information for corporate giving in Washington state. Puget Sound Bank has placed on the list in 2014, 2015, 2016 and 2017.

In 2016 we have been active supporting a variety of organizations, including Victim Support Services, King County Police Union, Nellie Goodhue Group Homes, Summit Assistance Dogs, Bellevue LifeSpring, Elizabeth Gregory Home, Boys and Girls Clubs of Bellevue, St. Vincent dePaul School, Invest in Youth, Crush Kid’s Cancer, Washington Women in Need, and Bellevue College Foundation.

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Phishing Scam Targets DocuSign Customers

2017 May 17 by

May 17, 2017 — DocuSign, Puget Sound Bank’s provider of electronic signature technology, acknowledged today that a series of recent malware phishing attacks targeting its customers and users was the result of a data breach at one of its computer systems. DocuSign stresses that the data stolen was limited to customer and user email addresses.

A complete forensic analysis has confirmed that only a list of email addresses were accessed; no names, physical addresses, passwords, social security numbers, credit card data or other information was accessed. No content or any customer documents sent through DocuSign’s eSignature system was accessed; DocuSign’s core eSignature service, envelopes and customer documents and data remain secure.

During the week of May 8 and again the week of May 15, DocuSign detected an increase in phishing emails sent to some of their customers and users – and posted alerts on the DocuSign Trust Site and in social media. The emails “spoofed” the DocuSign brand in an attempt to trick recipients into opening an attached Word document that, when clicked, installs malicious software. As part of their process in response to phishing incidents, they confirmed that DocuSign’s core eSignature service, envelopes and customer documents remain secure.

A complete forensic analysis confirmed that only email addresses were accessed; no names, physical addresses, passwords, social security numbers, credit card data or other information was accessed. No content or any customer documents sent through DocuSign’s eSignature system was accessed; and DocuSign’s core eSignature service, envelopes and customer documents and data remain secure.

DocuSign confirmed that only people with a DocuSign account were impacted by this incident – those who signed a document without a DocuSign account were not among the list of email addresses that were accessed maliciously.

They continue to work with various Law Enforcement officials and will provide additional updates as they complete the investigation.

Please contact the staff at Puget Sound Bank at 425 455-2400 if you have any questions, including if you have received a suspicious email.

DocuSign has provided the following FAQ:
Q: What actually happened?
A:
• Last week and again yesterday, DocuSign detected an increase in phishing emails sent to some of their customers and users – and they posted alerts on the DocuSign Trust Center and in social media.
• The emails “spoofed” the DocuSign brand in an attempt to trick recipients into opening an attached Word document that, when clicked, installs malicious software.
• As part of their process in routine response to phishing incidents, DocuSign confirmed that their core eSignature service, envelopes and customer documents remain secure.
• However, as part of DocuSign’s ongoing investigation, yesterday DocuSign confirmed that a malicious third party had gained temporary access to a separate, non-core system used for service-related announcements.
• A complete forensic analysis has confirmed that only a list of email addresses were accessed; no names, physical addresses, passwords, social security numbers, credit card data or other information was accessed. No content or any customer documents sent through DocuSign’s eSignature system was accessed; DocuSign’s core eSignature service, envelopes and customer documents and data remain secure.

Q: Is my DocuSign envelope and data secure?
A: As part of DocuSign’s process in response to phishing incidents, they confirmed that DocuSign’s core eSignature service, envelopes and customer documents remain secure.

Q: Has my instance of DocuSign been impacted?
A: DocuSign has no evidence that there is any impact to any instance of DocuSign, and as part of their process in response to phishing incidents, DocuSign confirmed that their core eSignature service, envelopes and customer documents remain secure.

Q: What information was impacted?
A: It was a list of email addresses stored in a separate, non-core system used for service-related announcements.

Q: Have the email addresses of my employees, customers or customers’ customers been exposed as part of this incident?
A: As part of our ongoing investigation, DocuSign can now confirm that no signers were on the list of email addresses that was accessed maliciously unless they had signed up for a DocuSign account. That could include direct DocuSign customers; someone who signed a document and elected to open a DocuSign account; or someone who signed up for a DocuSign freemium account – via docusign.com, through a partner integration, or via the DocuSign mobile client.

Q: How many people were affected? How many email addresses compromised?
A: Right now DocuSign is still acting on the results of our ongoing investigation and cannot comment on those details.

Q: What systems were impacted?
A: As part of DocuSign’s ongoing investigation, we confirmed that a malicious third party had gained temporary access to a separate, non-core system used for service-related announcements.

Q: Was any other information impacted outside of my email address?
A: A complete forensic analysis has confirmed that only a list of email addresses were accessed: no names, physical addresses, passwords, social security numbers, credit card data or other information was accessed. No content or any customer documents sent through DocuSign’s eSignature system was accessed; DocuSign’s core eSignature service, envelopes and customer documents and data remain secure.

Q: How are you so sure only my email address was impacted?
A: A complete forensic analysis has confirmed that only a list of email addresses were accessed: no names, physical addresses, passwords, social security numbers, credit card data or other information was accessed. No content or any customer documents sent through DocuSign’s eSignature system was accessed. DocuSign’s core eSignature service, envelopes and customer documents and data remain secure.

Q: What should I do about this?
A: DocuSign recommends taking the following steps to ensure the security of your email and systems:
• Delete any emails with the subject line, “Completed: [domain name] – Wire transfer for recipient-name Document Ready for Signature” and “Completed [domain name/email address] – Accounting Invoice [Number] Document Ready for Signature”. These emails are not from DocuSign. They were sent by a malicious third party and contain a link to malware spam.
• Forward any suspicious emails related to DocuSign to spam@docusign.com, and then delete them from your computer. They may appear suspicious because you don’t recognize the sender, weren’t expecting a document to sign, contain misspellings (like ‘@docusgn.com’ without an ‘i’ or @docus.com), contain an attachment, or direct you to a link that starts with anything other than https://www.docusign.com or https://www.docusign.net.
• Ensure your anti-virus software is enabled and up to date.
• Review DocuSign’s whitepaper on phishing available at https://trust.docusign.com/static/downloads/Combating_Phishing_WP_05082017.pdf

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Puget Sound Bank Announces Management Succession Plan

2017 May 17 by

May 17, 2017 — Puget Sound Bank (OTCBB:PUGB), today announced a formal succession plan adopted by its board of directors, which will be implemented over the course of the next year.  The following management changes are being implemented immediately:

Sean Brennan, President

Tony Chalfant, CCO/COO

Phil Mitterling, CFO/CIO

Jim Mitchell, currently President and Chief Executive Officer, will be retiring in May 2018.  He will continue to serve as CEO and a Director for the next year.

Sean Brennan, will continue to serve as Chief Lending Office and is being promoted to President, effective immediately.  Following Mitchell’s retirement, he will be promoted to CEO.

Tony Chalfant, will continue to serve as Chief Credit Officer and is being promoted to Chief Operating Officer.

Phil Mitterling will continue to serve as Chief Financial Officer and is taking on additional responsibilities as Chief Information Officer.

Read the complete news release.

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Puget Sound Bancorp to Attend D.A. Davidson Investor Conference

2017 May 2 by

May 2, 2017 — Puget Sound Bancorp (OTCQB: PUGB), the holding company for Puget Sound Bank, today announced that Jim Mitchell (Puget Sound Bancorp president and chief executive officer), as well as Phil Mitterling (Puget Sound Bancorp executive vice president and chief financial officer) and Tony Chalfant (Puget Sound Bank executive vice president and chief credit officer), will attend the 19th Annual D.A. Davidson Financial Institutions Conference in Denver, May 9-11, 2017.

Investors interested in more information about the conference or to schedule a one-on-one meeting should contact their D.A. Davidson representative.

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PSB Once Again a PSBJ Top Corporate Philanthropist

2017 April 26 by

corp philanthropy 2017 bannerApril 26, 2017 — On May 15, 2017 Puget Sound Bank will be honored by the Puget Sound Business Journal as one of Washington state’s top corporate philanthropists at the annual “Corporate Citizenship and Health Community Corporate Champion” awards program. Puget Sound Bank will share the spotlight with 75 other companies that will be recognized for outstanding community outreach.

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Puget Sound Bancorp Reports

30% Year-Over-Year Net Income Growth

2017 April 19 by

ROE at 10.78% and ROA at 1.01%;
Consecutive Quarter for High Performing Profitability Levels

April 19, 2017 — Puget Sound Bancorp (OTCQB: PUGB), the holding company for Puget Sound Bank, today reported net income of $1.3 million or $0.39 per share for the quarter ending March 31, 2017. This compares to $1.0 million or $0.30 per share for the year-earlier quarter, a 30% increase year-over-year for both net income and earnings per share.

Read the complete news release.

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Celebrating 12 Exceptional Years!

2017 April 11 by

April 11, 2017 — Continuing with our theme of “A Decade of Shared Success” from our 10-year anniversary celebration in 2015, Puget Sound Bank again reaches out to everyone we’ve worked with to express sincere thanks to all who have contributed to our success.

On April 11, 2005 we opened our doors to form a business bank serving the Puget Sound region. We recognize each and every day the significance of our customers, service providers and employees in helping Puget Sound Bank become more exceptional every day.

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New Customer Service Associate Joins Puget Sound Bank

2017 March 28 by

March 28, 2017 – Puget Sound Bank announced that Miriam Hernandez is the newest member of the Bank’s customer service team. Although she has been a familiar face as a temporary staff member since November 2016, she recently became a permanent, full-time employee earlier this month.

“We’re pleased to have Miriam join us,” said LoAnn Phung, Puget Sound Bank vice president and customer service manager. “In her role as a customer service associate and the first point of contact for many of the Bank’s visitors, her role is critical in building long-term relationships with all of our stakeholders.”

Miriam holds a degree in mathematics from New Jersey City University and is a resident of Bellevue, Washington.

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Suzanne B. Santora Joins Puget Sound Bank

2017 March 15 by

Suzanne Santora 066.M

Seasoned Professional Newest PSB VP

March 15, 2017 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced that Suzanne B. Santora joined the company as vice president, human resources manager.

In this new role, Ms. Santora will develop and execute human resources strategy to support the overall business plan and long-term vision of the Bank. “We’re pleased to bring Suzanne’s experience to the organization,” said Elaine Wolfe, Puget Sound Bank senior vice president and bank services manager. “As the Bank continues to grow, this strategic human resources input to our board and executive management team is critical to our continued growth and success.”

Ms. Santora is a lifelong Bellevue, Washington resident and is a graduate of the University of Washington. She serves as an officer of the Emerald City Chapter of the National Charity League, an organization committed to community service, leadership development and cultural experiences for its members.

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