2014 April 22 by Brad Ogura
Connie Yenne, Northwest Native and Community Banker, Joins PSB
April 22, 2014 — Puget Sound Bank (OTCQB: PUGB) recently announced Connie Yenne has joined the Company as vice president, controller.
“Connie joins the Bank at an exciting time as we are experiencing record growth,” said Jim Mitchell, Puget Sound Bank chief executive officer and president. “Her strong banking background will be critical to support our growing organization.”
She is a Northwest native and has spent her career in various community banking roles, including finance, information services, and deposit and loan operations. Most recently she served as controller at a Seattle community bank. She is a graduate of the University of Washington and Western Governors University Washington.
2014 April 16 by Brad Ogura
First Quarter Results Reflect Successful Acquisition Strategy
April 16, 2014 — Puget Sound Bank (OTCQB:PUGB) today reported record net income of $752,521 or $0.25 per share for the quarter ending March 31, 2014, an increase of 41% as compared to $533,126 or $0.21 per share for the year earlier period.
This quarter’s net income exceeds all previous quarterly results in the Company’s nine-year history and is the first quarter since announcing the purchase of Core Business Bank in March 2013 (completed in June 2013) to include no acquisition costs.
2014 April 10 by Brad Ogura
One of Top 75 in Washington State
April 10, 2014 – Puget Sound Bank is pleased to announce that we have been selected by the Puget Sound Business Journal as one of Washington state’s top 75 corporate philanthropists for our support of the nonprofit community.
Puget Sound Bank will be recognized on May 22, 2014 at the Puget Sound Business Journal’s annual Corporate Citizenship Awards luncheon event, where the publication will announce the top three companies in the categories of small, medium and large companies.
In partnership with The Seattle Foundation, the Puget Sound Business Journal will also present the Healthy Community Corporate Champion Awards to companies that have made significant, positive impacts on the community through volunteer work, in-kind donations, and cash contributions, and have embraced corporate philanthropy as part of their company culture.
Puget Sound Bank is honored to be recognized by the Puget Sound Business Journal for our support of the communities where we live and work.
2014 April 9 by Brad Ogura
Industry Leaders to Share and Explore Strategies at Annual Event
BRENTWOOD, Tenn., April 9, 2014 – Jim Mitchell, president and chief executive officer of Puget Sound Bank (OTCQB: PUGB), will speak at the Bank Director’s Growth Conference on May 1, 2014 in a panel session that will discuss where and how banks should be looking for loan growth. The Growth Conference will feature Mr. Mitchell’s insights as an integral part of the event, which explores strategies and concepts to improve efficiencies to provide solutions to the growth challenges faced by the banking industry.
Over 100 chairmen and senior executives of banks, including chief executive officers, presidents, chief marketing officers and senior retail banking executives, are expected to attend the event, which will take place in New Orleans from May 1-2, 2014.
About Bank Director
Since 1991, Bank Director has served as a leading information resource for the directors and officers of financial institutions. Through its quarterly magazine, executive-level research, annual conferences, and its website, BankDirector.com, Bank Director reaches the leaders of the institutions that comprise America’s banking industry. Bank Director is headquartered in Brentwood, Tennessee. For more information about The Growth Conference, visit BankDirector.com/conferences or contact Michelle King, director of marketing, (800) 826-8987.
2014 April 8 by Brad Ogura
Washington Bankers Association Meets with Jim Mitchell
Jim Mitchell, Puget Sound Bank president and CEO, was recently featuured in Issues & Answers, the publication of the Washington Bankers Association.
Titled “In Step with Jim Mitchell — Patience and Focus Guides Success” the executive-profile highlighted Jim’s answers when asked to share his lessons learned and strategies for success.
Click on the magazine icon below to read the interview in its entirety.
2014 March 19 by Brad Ogura
March 19, 2014 — Puget Sound Bank recently announced the promotion of Jane K. Miller to vice president, operations support services manager.
“As the Bank has grown and our customers’ needs have become more complex, Jane has been an invaluable resource to ensure we continue to seamlessly meet their needs,” said Jim Mitchell, Puget Sound Bank chief executive officer and president. “Her expertise, team leadership and mentoring will all help support the anticipated growth of Puget Sound Bank.”
Jane joined Puget Sound Bank in 2007 after serving in various customer service positions in community banks. She is a Northwest native and a graduate of Pacific Lutheran University (Tacoma, Wash.).
2014 March 10 by Brad Ogura
5-Star Rating Given for 14th Consecutive Quarter
March 10, 2014 — For the 14th consecutive quarter, Puget Sound Bank has been awarded a 5-star rating by BauerFinancial. This independent rating agency has awarded Puget Sound Bank its highest level of recognition for our strong capital base and liquidity, robust deposit and loan growth, and solid credit quality.
2014 March 7 by Brad Ogura
Puget Sound Bank Named to Chamber’s List
March 7, 2014 – Puget Sound Bank has been included in the Bellevue Chamber of Commerce’s 25th Annual Eastside Business Awards list of nominees. Nominees, who are recognized for innovation, creativity, talent and leadership, will be honored March 20, 2014 at the Golf Club at Newcastle.
The winners for Eastside Business of the Year, Eastside Small Business of the Year, and Most Innovative Product or Service of the Year will be announced at the dinner event.
Puget Sound Bank is the only bank included in the list of nominees.
2014 March 4 by Brad Ogura
March 4, 2014 — This March, bankers in Washington will join together to make a difference for Northwest Harvest and thousands of hungry people in the community, filling a critical need during a season where many food banks find their shelves are far too empty.
Last year the Bankers Care Spring Food Drive included the participation of approximately 500 local bank branches across the region – spanning from Everett to Olympia. The campaign built on the individual efforts of many of the banks in their active fight against hunger, increasing the reach and impact by collectively helping the hungry in our communities.
This year we hope to make an even bigger impact in our communities. During the three week Spring Food Drive bank branches of WBA member banks, including Puget Sound Bank, will serve as donation drop locations. Because Northwest Harvest works with local food banks throughout the region, all contributions directly support the communities in which they are collected.
Please join Puget Sound Bank, March 10 – 31, as we rally together to fight hunger.
2014 January 15 by Brad Ogura
2013 Results Highlighted by Successful Acquisition and Strong Loan Growth
January 15, 2014 — Puget Sound Bank (OTCQB: PUGB) today reported net income of $2.2 million or $.77 per share for the year ending December 31, 2013, which compares to $1.9 million or $.78 per share for the year earlier period. Net income for the current quarter was $553,366 or $0.18 per share as compared to $359,516 or $0.14 per share for the year-earlier quarter. Without one-time costs resulting from Puget Sound Bank’s acquisition of Core Business Bank completed in June 2013, net income for 2013 would have been $2.7 million or $0.96 per share.
“2013 was truly remarkable for Puget Sound Bank,” said Jim Mitchell, Puget Sound Bank chief executive officer and president. “We successfully completed our acquisition of Core Business Bank, ended the year with 0.22% of nonperforming assets to total assets (less than $1 million) and grew assets 26% to $339.3 million.”