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Puget Sound Bank Recognized as a Top Corporate Philanthropist

PSBJ Corp Philanthropist cert 2015 for WordPress

Second Consecutive Year for Bank to Receive Statewide Award

BELLEVUE, Wash.–(BUSINESS WIRE)– Puget Sound Bank (OTCQB: PUGB) announced that the Puget Sound Business Journal named the Bank as one of Washington state’s top 75 corporate philanthropists for the second consecutive year. Puget Sound Bank was ranked twelfth in the small company category (revenues below $20 million) for both 2014 and 2015.

Read the complete news release

Puget Sound Bank One of Region’s Top 75 Corporate Philanthropists

Puget Sound Business Journal to Recognize Companies May 21

PSBJ Corporate Citizenship 2

April 13, 2015 – Puget Sound Business Journal recently announced that Puget Sound Bank is one of Washington’s top 75 corporate phhilanthropists for the Bank’s support of the local nonprofit community. The Business Journal will host an awards luncheon at the Seattle Sheraton Hotel on May 21, 2015 to announce the top three corporations in the categories of small, medium and large companies, and the rankings in each category.

Each year the Puget Sound Business Journal reaches out to local companies to survey their support of local nonprofits. This year’s event, the Corporate Citizenship and Healthy Community Champion Awards Luncheon, honors the list makers as well as philanthropists and companies who have made significant contributions in the arts, education, global giving, health care, economic opportunity, neighborhoods and the environment. For more information visit the Puget Sound Business Journal registration page.

Puget Sound Bank Receives Another “Superior” Rating

18th Consecutive Quarter for 5-Star Award

5-star logo MARCH 2015March 16, 2015 – BauerFinancial, an independent research firm that analyzes and reports on banks and credit unions, has rated Puget Sound Bank “superior” (5 stars) for the 18th consecutive quarter. For a bank to bear the five-star (superior) emblem, it must have received an excellent or superior rating for 11 consecutive quarters. Some of the criteria rated (but not limited to) include: capital level, asset quality, profitability, loan delinquencies, reserves and regulatory compliance.

Since 1983 BauerFinancial has been compiling information that federal regulators require financial institutions to file every quarter. The information is subjected to a thorough analysis and is compared with historical data for consistency. Upon completion of the analysis, a star rating is assigned based on a scale of zero to five starts, with five stars the highest.

No institution pays for its rating, nor can banks or credit unions avoid a rating. For more information about BauerFinancial visit their website.

Puget Sound Bank Ranked 5th in State

“Washington’s Banks Looking Pretty Good” says Industry Analyst

March 11, 2015 – In a recent Puget Sound Business Journal article by local digital managing editor Emily Parkhurst, Puget Sound Bank is highlighted as Washington state’s fifth-best as ranked several ratios, including earnings, asset quality, capitalization, growth and other factors.

The list was compiled by St. Louis-based industry analyst Kirk Briden, a banking industry veteran who goes beyond traditional measure criteria to measure performance. As Parkhurst points out in her article, the strength of a bank is important for businesses looking for a loan because banks that are not performing well can have issues with regulators, which can make it more difficult to work with them.

She quotes Briden as saying “When you start running into trouble, regulators often define a very narrow box to confine (the bank) to.” Read her full article to see Briden’s top 25 banks in Washington state.

BauerFinancial Continues to Rate Puget Sound Bank with 5 Stars

17th Consecutive Quarter for Top Rating

5-star-logo-December-2014December 18, 2014 – Puget Sound Bank received BauerFinancial’s 5-Star rating, indicating our strength based upon their performance criteria. For a bank to bear the five-Star (superior) emblem, it must have received an excellent or superior rating for 11 consecutive quarters. Some of the criteria rated (but not limited to) include: capital level, asset quality, profitability, loan delinquencies, reserves and regulatory compliance.

BauerFinancial is an independent research firm that analyzes and reports on bank and credit unions. Since 1983 BauerFinancial has been compiling information federal regulators require financial institutions to file every quarter. The information is subjected to a thorough analysis and is compared with historical data for consistency. Upon completion of the analysis, a star rating is assigned based on a scale of zero to five starts, with five stars the highest.

No institution pays for its rating, nor can banks or credit unions avoid a rating. For more information about
BauerFinancial visit their website.

Puget Sound Bank Ranked 52nd Healthiest Bank in America

Top 200 Deposit Accounts Award trans

October 29, 2014 – Bellevue, Wash. – Puget Sound Bank was ranked 52 out 6,500 banks in the United States by DepositAccounts.com, an online publication that grades federally insured banks based on capitalization, deposit growth, loan-to-reserve ratios and other factors.

At number 52, Puget Sound Bank is the top-rated Washington state bank.
In addition to ranking banks, DepositAccounts.com also gathers and reports deposit information and publishes articles highlighting current banking deals, providing expert depository market and product analyses.

16th Consecutive Quarter for Superior Financial Soundness

September 9, 2014 – Puget Sound Bank has received the five-star rating from BauerFinancial for the 16th consecutive quarter. This “superior” rating is only available to banks that have received an excellent or superior rating for a minimum of 11 consecutive quarters.

BauerFinancial is a nationally recognized, independent bank rating and research firm. Only 10 percent of the nation’s approximate 7,000 banks have earned this 5-Star Superior Quality Rating. This rating indicates they have done their research to determine the overall financial picture of the Bank. Areas reviewed include but are not limited to capital ratio, profitability/loss trend, evaluating the level of delinquent loans, charge-offs and repossessed assets, the market versus book value of the investment portfolio, regulatory supervisory agreements, the community reinvestment rating (CRA), historical data and liquidity.

Puget Sound Bank a Local Hunger Hero

Northwest Harvest Presents Hunger Hero Award to PSB

Hunger Hero June 18, 2014 — To recognize Puget Sound Bank’s outreach to those in need, Northwest Harvest presented its LOCAL HUNGER HERO AWARD to the Bank.

As part of the Washington Bankers Association’s Bankers Care initiative this spring, Puget Sound Bank employees contributed cash to Northwest Harvest, which was matched by the Bank, to help eliminate hunger here in the Northwest.

BauerFinancial Awards 5-Stars to Puget Sound Bank

15th Consecutive Quarter for Solid Financial Performance

5-star logo JUNE 2014 208June 12, 2014 — Puget Sound Bank has received the coveted 5-Star rating from BauerFinancial for the 15th consecutive quarter.

BauerFinancial is a nationally recognized, independent bank rating and research firm. Only 10 percent of the nation’s approximate 7,000 banks have earned this 5-Star Superior Quality Rating. This rating indicates they have done their research to determine the overall financial picture of the Bank. Areas reviewed include but are not limited to capital ratio, profitability/loss trend, evaluating the level of delinquent loans, charge-offs and repossessed assets, the market versus book value of the investment portfolio, regulatory supervisory agreements, the community reinvestment rating (CRA), historical data and liquidity.

Puget Sound Bank Honored for Philanthropic Outreach

PSB Ranks 12th Statewide in its Category

May 22, 2014 – Puget Sound Bank was honored by the Puget Sound Business Journal as one of the top 75 corporate philanthropists in Washington state at the annual Corporate Citizenship Awards luncheon held in Seattle.

Companies were categorized by size (small, medium and large), with three in each category. Puget Sound Bank ranked 12th for companies with revenue under $20 million. The sold-out event celebrated the companies and those who serve on nonprofit boards, volunteer, and leverage resources to give back to their communities.

Since its inception, Puget Sound Bank has encouraged employees to support the communities where we work and live. In addition, the Bank – as evidenced by the acknowledgement of the Puget Sound Business Journal, gives generously to support the endeavors of local nonprofits. Led by president and chief executive officer Jim Mitchell, supported by the board of directors and executive management, all employees are encouraged to give their time, resources and talent to organizations that help mentor youth, educate a new work force and assist those in need.