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Puget Sound Bancorp Announces Third Quarter Earnings

2016 October 27 by

Puget Sound Bancorp Hits Milestone of $500 Million in Assets

Loan Growth of 10%, Asset Growth of 15%, Deposit Growth of 17%

October 27, 2016 — Puget Sound Bancorp (OTCQB: PUGB), the holding company for Puget Sound Bank, today reported net income of $724,712 or $0.21 per share for the quarter ending September 30, 2016, as compared to $1.0 million or $0.29 per share for the year-earlier period. The current quarter included a $700,000 charge-off from one loan to a single borrower, resulting in an increased loan provision expense of the same amount. Without this increased provision for loan losses, net income would have been $1.2 million or $0.35 per share.

Read the complete news release.

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Hunger Stops Here

2016 September 30 by

dsc02902September 30, 2016 – At the closing event for the 2016 Bankers Care event at Westlake Center in Seattle, Puget Sound Bank presented $6,700 to Northwest Harvest to help feed hundreds of hungry families in the area.

Puget Sound Bank has been pleased to participate in this event since its inception in 2013. For an overview of the program, our friends at Northwest Weekly interviewed Jim Mitchell, Puget Sound Bank president and chief executive officer.

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Puget Sound Bank Promotes Shanelle Prepotente

2016 September 23 by

September 23, 2016 – Puget Sound Bank announced that Shanelle Prepotente has been promoted to customer service officer II. “Since joining the Bank in April 2016 Shanelle has continually demonstrated her commitment to Puget Sound Bank’s brand of service excellence,” said LoAnn Phung, Puget Sound Bank vice president, customer service manager. “and her team focus helps ensure a seamless and exceptional customer experience.”

In addition to being named a Seattle Business Magazine Best Workplace, Puget Sound Bank has been named a best workplace, fastest growing company and top corporate philanthropist by the Puget Sound Business Journal and is consistently rated one of the country’s strongest banks by BauerFinancial, an independent industry analyst.

Common stock for Puget Sound Bancorp trades on the OTCQB® electronic marketplace under the symbol PUGB.

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Puget Sound Bank Partners with Bankers Care

2016 September 8 by

bankers-careSeptember 8, 2016 – Once again, Puget Sound Bank will participate in the Bankers Care Food Drive campaign, a program launched by the Washington Bankers Association and Northwest Harvest in 2013 to help raise awareness about the issue of hunger in Washington.

As children prepare to go back to school, it is more important than ever to make sure they get the food they need to grow and learn. Research shows that hungry children don’t learn as well in the classroom. Thanks to Northwest Harvest’s statewide network of food banks and affiliates, donations to this year’s campaign will help those in the local communities
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The 2016 Bankers Care Food Drive Campaign will run September 12-30 across Washington state. This year, individuals can get involved by donating to the campaign online or at a local participating bank branch throughout the state. Or, visit the Bankers Care booth at the Washington State Fair on Friday, September 2 from 10 a.m. to noon. Bring a food donation and receive free entry to the fair.

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Puget Sound Bank Promotes Niko Evans

2016 August 31 by

August 31, 2016 – Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced that Niko Evans, a member of the Bank’s customer service team, has been promoted to the position of customer service support.

“Niko has truly embraced every opportunity for growth and development with the Bank,” said Teresa Lundman, Puget Sound Bank assistant vice president, customer service supervisor. “Her dedication and commitment has contributed greatly to maintaining our customer service excellence.”

In addition to recent recognition as a Best Company to Work For by Seattle Business Magazine, Puget Sound Bank has also been named a Best Workplace, Fastest Growing Company and Top Corporate Philanthropist by Puget Sound Business Journal and is consistently rated one of the country’s strongest banks by BauerFinancial, an independent research firm that analyzes and reports on banks and credit unions.

Common stock for Puget Sound Bancorp trades on the OTCQB® electronic marketplace under the symbol PUGB

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PSB Director Recognized by the University of Puget Sound

2016 August 3 by

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.

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Puget Sound Bancorp Reports Second Quarter Results

2016 July 20 by

July 20, 2016 — Puget Sound Bancorp (OTCQB:PUGB), the holding company for Puget Sound Bank, today reported net income of $1,072,120 or $0.32 per share for the quarter ending June 30, 2016, as compared to $961,775 or $0.28 per share for the year earlier period.

“The board, management and I are pleased to announce this ongoing and consistent growth. As compared to last year, net income is up 11% and our earnings per share increased 14%,” said Jim Mitchell, Puget Sound Bank president and chief executive officer.

Read the complete news release.

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Britni Babington Promoted to Assistant Vice President

2016 July 18 by

July 18, 2016 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced that Britni Babington was promoted to assistant vice president, assistant relationship manager/senior credit analyst.

“We’re pleased to recognize Britni’s performance,” said Betsy Curtin, Puget Sound Bank vice president and manager, assistant relationship manager/credit analyst team. “Since Britni joined the Bank she has continually demonstrated superior underwriting skills and has been instrumental in supporting the Bank’s growth.”

In addition, Puget Sound Bank announced that Jason Hollaway was promoted to assistant relationship manager and two new credit analysts were hired: Meg Rohacek joined as an assistant vice president and assistant relationship manager/senior credit analyst, and Nick Fuller joined the Bank as a credit analyst.

In addition to recent recognition as a Best Company to Work For by Seattle Business Magazine, Puget Sound Bank has also been named a Best Workplace, Fastest Growing Company and Top Corporate Philanthropist by Puget Sound Business Journal and is consistently rated one of the country’s strongest banks by independent analysts.

Common stock for Puget Sound Bancorp trades on the OTCQB® electronic marketplace under the symbol PUGB.

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Puget Sound Bank Announces New Staff

2016 June 29 by

June 29, 2016 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced recent staff additions to its customer service and cash management teams:

Niko Evans, customer service associate.
Shanelle Prepotente, customer service officer.
Kiet Le, cash management specialist.
Lucy Miyamoto, cash management specialist.

“The background and experience of these employees reflects Puget Sound Bank’s ongoing commitment to ensure we continue to deliver an exceptional banking experience for our customers,” said Elaine Wolfe, Puget Sound Bank senior vice president and bank services manager.

Puget Sound Bank has been named a best workplace, fastest growing company and top corporate philanthropist by the Puget Sound Business Journal and is consistently rated one of the country’s strongest banks by independent analysts.

Common stock for Puget Sound Bancorp trades on the OTCQB® electronic marketplace under the symbol PUGB.

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Puget Sound Bank Honored as a Best Company to Work For

2016 June 28 by

Best Cos (1)June 28, 2016 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), was recently honored by Seattle Business Magazine at its annual Best Companies to Work For event at the Washington State Convention Center. Puget Sound Bank, along with 23 other medium-size company honorees, was chosen based on extensive confidential surveys completed by employees.

Now in its 27th year, the program salutes the Washington companies that set the standard for leadership, benefits, work environment, training programs and more.

Puget Sound Bank has also been named a best workplace, fastest growing company and top corporate philanthropist by the Puget Sound Business Journal and is consistently rated one of the country’s strongest banks by independent analysts.

Common stock for Puget Sound Bancorp trades on the OTCQB® electronic marketplace under the symbol PUGB.

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