2015 November 5 by Brad Ogura
Shareholders Approve Reorganization
November 5, 2015 — Puget Sound Bank (OTCQB: PUGB) announced that it has received shareholder approval to reorganize its operations into a bank holding company. The new holding company, Puget Sound Bancorp, Inc., will continue to trade on OTC Markets with the same trading symbol, PUGB.
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 September 21 by Brad Ogura
PSB Staff Lend a Helping Hand as Part of United Way Day of Caring
September 18, 2015 — Puget Sound Bank staff spent part of the day at The Healing Center of Seattle as part of United Way’s annual Day of Caring. It was a day of hard work — cleaning, washing and organizing at this community center for grief support.
2015 August 18 by Brad Ogura
New Depth of Experience Added to Management Team
August 18, 2015 –Puget Sound Bank (OTCQB:PUGB) announced that Jacob Beaty joined the Bank as vice president, financial reporting and analysis officer.
In this newly created position Mr. Beaty will be responsible for building and managing the Bank’s key management reporting processes, including profitability management systems and product pricing. Read the complete news release
2015 July 21 by Brad Ogura
Independent Rating Firm Gives Puget Sound Bank an Overall A+
July 21, 2015 — Puget Sound Bank (OTCQB: PUGB) announced that for the second consecutive year it has been named one of the nation’s healthiest banks by DepositAccounts.com, an online publication that assesses the health of banks on various criteria, including capitalization, deposit growth and loan-to-reserve ratios. Read the complete news release.
2015 July 15 by Brad Ogura
Total Assets Grow 19% to Reach $425 Million
July 15, 2015 — Puget Sound Bank (OTCQB: PUGB) reported net income for the second quarter of 2015 of $961,775 or $.28 per share, a 44% increase as compared to $668,798 or $.22 per share for the second quarter of 2014.
“This sustained growth results from Puget Sound Bank’s continued focus on our original model of serving small- to medium-size businesses with outstanding service from preeminent bankers,” said Jim Mitchell, Puget Sound Bank president and chief executive officer. “As we celebrate our 10-year anniversary we are continually thankful to our customers who have grown with us and expanded their relationships, and to those who continue to refer new business to us.” Read the complete earnings release
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
2015 June 23 by Brad Ogura
2015 Finalists Announced by Puget Sound Business Journal
June 23, 2015 — Puget Sound Bank (OTCQB: PUGB) today announced that it has been named a finalist in Puget Sound Business Journal’s annual Best Workplaces competition.
“As we celebrate our 10-year anniversary, we are pleased to once again be named a Best Workplace finalist,” said Jim Mitchell, Puget Sound Bank president and chief executive officer. “The board, management and I are thrilled that Puget Sound Bank employees consider the Bank one of the region’s best workplaces.” Read the complete news release.
2015 June 12 by Brad Ogura
Joins Bank as Vice President, Operations Support Services Manager
June 12, 2015 — Puget Sound Bank (OTCQB: PUGB) today announced that Debbie L. Balovich joined the Bank as vice president, operations support services manager.
“We are pleased to have a new team member join us with such extensive banking experience,” said Jana Westphal, senior vice president and operations manager. “After a long search we knew we found someone who understands what customers expect and is able to effectively manage systems and people to meet those expectations.” Read the complete news release
2015 June 10 by Brad Ogura
“Superior” Rating for Strength
June 10, 2015 – For the 19th 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.
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.
No institution pays for its rating, nor can banks or credit unions avoid a rating. For more information about BauerFinancial visit their website.