2017 April 11 by Brad Ogura
April 11, 2017 — Continuing with our theme of “A Decade of Shared Success” from our 10-year anniversary celebration in 2015, Puget Sound Bank again reaches out to everyone we’ve worked with to express sincere thanks to all who have contributed to our success.
On April 11, 2005 we opened our doors to form a business bank serving the Puget Sound region. We recognize each and every day the significance of our customers, service providers and employees in helping Puget Sound Bank become more exceptional every day.
2017 March 28 by Brad Ogura
March 28, 2017 – Puget Sound Bank announced that Miriam Hernandez is the newest member of the Bank’s customer service team. Although she has been a familiar face as a temporary staff member since November 2016, she recently became a permanent, full-time employee earlier this month.
“We’re pleased to have Miriam join us,” said LoAnn Phung, Puget Sound Bank vice president and customer service manager. “In her role as a customer service associate and the first point of contact for many of the Bank’s visitors, her role is critical in building long-term relationships with all of our stakeholders.”
Miriam holds a degree in mathematics from New Jersey City University and is a resident of Bellevue, Washington.
2017 March 15 by Brad Ogura
Seasoned Professional Newest PSB VP
March 15, 2017 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced that Suzanne B. Santora joined the company as vice president, human resources manager.
In this new role, Ms. Santora will develop and execute human resources strategy to support the overall business plan and long-term vision of the Bank. “We’re pleased to bring Suzanne’s experience to the organization,” said Elaine Wolfe, Puget Sound Bank senior vice president and bank services manager. “As the Bank continues to grow, this strategic human resources input to our board and executive management team is critical to our continued growth and success.”
Ms. Santora is a lifelong Bellevue, Washington resident and is a graduate of the University of Washington. She serves as an officer of the Emerald City Chapter of the National Charity League, an organization committed to community service, leadership development and cultural experiences for its members.
2017 March 2 by Brad OguraMarch 2, 2017 — Puget Sound Bank earned a five-star “superior” rating for fourth quarter 2016 from BauerFinancial, the nation’s leading independent bank and credit union rating firm.
Star ratings are released quarterly and assigned on a scale of zero-to-five stars, with five being the strongest. Ratings are based on the overall financial picture of the financial institution.
BauerFinancial has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. The ratings are independent, meaning no institution is able to pay to be rated or excluded.
2017 February 28 by Brad Ogura
Puget Sound Bancorp to Attend Sandler O’Neill Investor Conference
February 28, 2017 — Puget Sound Bancorp (OTCQB: PUGB), the holding company for Puget Sound Bank, today announced that Jim Mitchell, Puget Sound Bancorp president and chief executive officer, as well as Phil Mitterling, Puget Sound Bancorp executive vice president and chief financial officer, will attend the Sandler O’Neill 2017 West Coast Financial Services Conference in San Diego, March 6 and 7, 2017.
The Sandler O’Neill annual financial services conferences, along with their regional strategy forums, provide a forum for attendees to meet with issuer companies such as Puget Sound Bancorp. These “by invitation only” events create the opportunity for participants to hear presentations by industry thought leaders, attend panel discussions, and catch up with their peers. For additional information or to schedule a one-on-one meeting with Mr. Mitchell or Mr. Mitterling, please contact Sandler O’Neill directly (Katherine Esposito at 212 466-7926).
In addition to 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. The Bank is rated “five-star superior” by BauerFinancial (a nationally recognized, independent bank rating agency) and has an A+ rating from DepositAccounts.com.
Common stock for Puget Sound Bancorp trades on the OTCQB® electronic marketplace under the symbol PUGB.
2017 February 23 by Brad Ogura
February 23, 2017 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced that Chris Casey joined the company as senior vice president, relationship manager.
Mr. Casey’s background includes over 30 years of financial services experience. He brings extensive expertise in underwriting and managing middle-market commercial credit relationships. “Chris’ client-focus and underwriting acumen are a perfect complement to Puget Sound Bank’s mission,” said Katherine Thompson, Puget Sound Bank senior vice president and team leader. “We’re pleased to have Chris join our team of experienced relationship managers.”
Mr. Casey has been actively involved with local educational outreach organizations, including Junior Achievement and DECA, as well as volunteer coaching youth athletics teams. He is a graduate Washington State University (Pullman, Wash.).
2017 February 8 by Brad Ogura
February 8, 2017—With the beginning (or almost beginning) of spring comes an annual tradition for Puget Sound Bank: Bellevue LifeSpring’s Step Up to the Plate Benefit Luncheon to help address local children’s basic needs.
Bellevue LifeSpring helps students focus on their education and break the cycle of poverty. Their “wraparound” approach helps address food, clothing, education and emergency assistance needs for thousands of local children. Puget Sound Bank’s president and chief executive officer, Jim Mitchell, is the group’s immediate past chair and continues to serve on Bellevue LifeSpring’s board of directors.
The annual luncheon will be held Thursday, March 30, 2017, beginning at 11:00 with a special “Sip & Shop” featuring a pop-up thrift store, all at Meydenbauer Center.
2017 February 7 by Brad Ogura
February 7, 2017 — In a recent article in the Puget Sound Business Journal, reporter Ashley Stewart highlighted eight local banks that the City of Seattle could go with if the Council divests from its current bank.
Puget Sound Bank was one of the eight.
Council members are expected to pass a bill to refrain from future business with Wells Fargo once the city’s banking contract is up on Dec. 31, 2018. The divestment would put $3 billion in city business up for grabs.
Read the full article on the PSBJ website.
2017 January 20 by Brad Ogura
January 20, 2017 — For the second consecutive year Puget Sound Bank has been nominated as a Best Company for Seattle Business Magazine’s annual 100 BEST COMPANIES TO WORK FOR rankings.
The research firm Fieldwork Webwork compiles and ranks the detailed responses of thousands of employees who rate their firms anonymously in these categories: benefits, communication, corporate culture, hiring/retention, executive leadership, performance standards, responsibility/decision making, rewards/recognition, training/education and workplace environment.
Last year Puget Sound Bank was one of 100 companies in Washington state to receive the award. Companies who make this year’s list will be announced June 22, 2017.
2017 January 18 by Brad Ogura
Fourth Quarter ROE Reaches 11.07% and ROA hits 1.00%
january 18, 2017 — Puget Sound Bancorp (OTCQB: PUGB), the holding company for Puget Sound Bank, today reported record net income of $4.2 million or $1.23 per share for the year ending December 31, 2016. This compares to $4.1 million or $1.22 per share for the year-earlier period.
For the quarter ending December 31, 2016, net income increased to $1.3 million or $0.40 per share as compared to $1.1 million or $0.33 per share for the year-earlier quarter. Return on equity in the fourth quarter increased to 11.07% and return on assets increased to 1.00%, reaching key benchmarks for high-performing banks.
“The board and management team are extremely proud of the Bank’s performance this year – particularly in the fourth quarter,” said Jim Mitchell, Puget Sound Bancorp president and chief executive officer. “This ongoing, consistent growth results from our hardworking team of banking professionals dedicated to delivering an exceptional experience to our loyal customers.”