2016 September 9 by Brad Ogura
Highest Rating (“Superior”)
September 9, 2016 – For the 24th consecutive quarter BauerFinancial, an independent research firm that analyzes and reports on banks and credit unions, has rated Puget Sound Bank “superior” (5 stars). The rating system ranges from zero to five stars. Some of the criteria rated (but not limited to) include: capital level, asset quality, profitability, loan delinquencies, reserves and regulatory compliance.
BauerFinancial has been analyzing and reporting on the nation’s banks since 1983. This 5-start rating indicates that Puget Sound Bank is one of the strongest banks in the nation.
2016 August 3 by Brad Ogura
Thomas Leavitt Receives 2016 Distinguished Alumni Award
August 3, 2016 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced that Thomas Leavitt, one of its founding directors, was honored by the University of Puget Sound with a 2016 Distinguished Alumni Award.
“From our inception Tom has helped shape the values that have been key to our consistent and ongoing success,” said Jim Mitchell, Puget Sound Bank president and chief executive officer. “As with others in our organization he continually demonstrates the importance of working to build strong and vibrant communities. We’re proud to see Tom recognized for his many years of service to the university.”
Mr. Leavitt has been active with the University of Puget Sound since enrolling in 1968. He was the first student body president to serve as an ex-officio member of the board of trustees, to which he would later serve 25 years. In addition to receiving an undergraduate degree, he then went on to graduate from the University of Puget Sound law school.
As a trustee at the University of Puget Sound, he served on every standing committee, demonstrating what the school described as extraordinary service and leaving an indelible mark. His son Alex graduated from the university in 2010, and in 2014 he and his family established the Leavitt Family Endowed Scholarship to support students who are committed to community service.
2016 April 22 by Brad Ogura
April 22, 2016 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB:PUGB), announced the promotion of Dean T. Peterson to vice president, relationship manager.
2015 October 22 by Brad Ogura
First Million-Dollar Net-Income Quarter
October 22, 2015 — Puget Sound Bank (OTCQB:PUGB) reported net income for the third quarter of 2015 of $1.0 million or $.29 per share, an 18% increase as compared to net income of $849,682 or $.28 per share for the third quarter of 2014.
Net income for the nine months ending September 30, 2015, was $2.9 million or $0.89 per share as compared to $2.3 million or $0.74 per share, a 26% increase from the year-earlier period.
2015 July 1 by Brad Ogura
Washington’s Oldest and Largest Financial Services Trade Association
July 1, 2015 — Puget Sound Bank (OTCQB: PUGB) today announced that Jim Mitchell, Puget Sound Bank president and chief executive officer, was elected chairman of the board of the Washington Bankers Association (WBA), Washington’s oldest and largest financial services trade association, with members representing 95 percent of all commercial bank deposits in the state. Read the complete news release