2012 April 19 by Richard Lester
April 18, 2012 — Puget Sound Bank (OTCBB: PUGB), reported that strong revenue growth and year-over-year loan growth contributed to net income of $517,065, or $.21 per share for first quarter 2012 compared to $456,124, or $.17 per share for first quarter 2011.
“Puget Sound Bank’s strong first quarter results are attributable to our continued focus on building strong relationships with small businesses and their owners,” said Jim Mitchell, President and Chief Executive Officer. “Our focus on growing relationships lead to an increase in revenues of 14% from a year ago, compared to growth of just 2% in expenses. These strong results are due to the extraordinary effort of the Puget Sound Bank team. ”
2012 April 19 by Richard Lester
What it’s Like to be a 0.99-percenter’ — In Nonperforming Loans
April 19, 2012 — From the Puget Sound Business Journal —
“Puget Sound Bank saw profits increase by 13 percent and revenue go up 14 percent in the first quarter of 2012. But bank CEO Jim Mitchell wants to call attention to another figure: 0.99 percent.
That’s the Bellevue bank’s percentage of nonperforming loans compared to total assets, a percentage that is below most in the industry and that declined from 1.22 percent at the end of the first quarter of 2011.
“We are pleased with the direction we are heading, particularly on the nonperforming loans,” Mitchell told me Thursday. “I particularly like being below 1 percent.” ”
2012 April 11 by Richard Lester
April 11, 2012 — Today marks the 7th anniversary of Puget Sound Bank! We have accomplished a great deal these past 7 years. As we celebrate this milestone, we want to take this time to honor our contributors, clients, and colleagues who believed in our mission and worked tirelessly to support our vision. We know that shared objectives are vital to our success and we appreciate those who helped us deliver on our brand promise of stellar service. Here’s to many more exceptional milestones!
2012 April 9 by Richard Lester
April 9, 2012 – Puget Sound Bank is pleased to announce the addition of a Senior Commercial Credit Analyst, Noelia Martinez. Noelia earned a BBA and an MBA from the University of Puerto Rico and brings exceptional underwriting skills which align with the Bank’s values. Noelia is known for her high quality work, her application of best practices, and her ability to develop appropriate solutions. Noelia is an avid runner and uses that talent to raise money for the Leukemia & Lymphoma Society and the Northwest chapter of the Juvenile Diabetes Research Foundation.
“Excellent credit professionals are the heart and soul of our stellar service culture,” says team lead Katherine Thompson.
2011 December 30 by Richard Lester
December 30, 2011 – At Puget Sound Bank, we genuinely care about the communities in which we live. As the year comes to a close, we want to take this time to honor some of the great causes Puget Sound Bank employees supported in 2011.
From “going to jail” for the Muscular Dystrophy Association, to serving on the board of the Boys & Girls Club of Bellevue, to working all year on the 36th Annual Hutch Holiday Gala, to travelling on a business exchange trip to India for the Bellevue Rotary Club, to packing food for Northwest Harvest; employees selflessly and repeatedly offered their time, talent, and money to serve others. For Puget Sound Bank, it’s simply the right thing to do. Here’s a small, and certainly not inclusive, list of some other non-profits we supported this year: Art with Heart, KITH, the American Cancer Society, UW Medical Center’s Team Transplant, Seattle’s Union Gospel Mission, and Friends of Youth.
We invite you to reach out to your favorite non-profit this year! Thank you and Happy New Year from the team at Puget Sound Bank.
2011 December 21 by Richard Lester
December 21, 2011 – Puget Sound Bank is pleased to announce the addition of a business banking Credit Analyst, Sam Niskanen. Sam is Pacific Northwest native and graduated from WWU with a degree in economics. He brings a dedicated credit mindset and good underwriting skills which align with the Bank’s values. Sam enjoys many outdoor activities and helps revitalize neighborhoods by volunteering his craftsmanship skills for local Habitat for Humanity projects.
“Talented young professionals like Sam enable Puget Sound Bank to provide exceptional service to our clients and ensure the Bank’s credit quality and high level performance,” says team lead Katherine Thompson.
2011 November 2 by Richard Lester
November 2, 2011 — The Muscular Dystrophy Association (MDA) accuses both Tim Baer and Elaine Wolfe of Puget Sound Bank of having a big heart and a generous soul! Several of the Bank’s colleagues were “Partners in Crime” and facilitated both being sent to the MDA Lock-Up in Bellevue. Tim and Elaine were released after they enthusiastically raised over $1,000 for the cause.
2011 October 14 by Richard Lester
October 14, 2011 - In support of National Breast Cancer Month, Puget Sound Bank joined 2,000 walkers in the King County Making Strides Against Breast Cancer walk. The Bank had 27 enthusiastic participants who prevailed against wind and rain and a few steep hills to honor the survivors and support the cause. Through various office fundraisers, including the beloved “jeans day,” the Bank raised $2,665 for the American Cancer Society.
“We wholeheartedly believe in the effectiveness of early detection and want to do what we can to empower women to reduce their risks of breast cancer,” said Jim Mitchell, CEO and president of Puget Sound Bank.
2011 October 6 by Richard Lester
October 6, 2011 – It’s about the people! And Puget Sound Bank is very proud to announce the addition of Cecilia Amechazurra as a customer service associate. In this multi-faceted role, Cecilia is entrusted with delivering exceptional customer service to the Bank’s commercial deposit clients as well as directly supporting the CEO. Cecilia began her banking career immediately after graduating college and brings a wealth of expertise to the team with experience in both retail and commercial banking. She is an ardent supporter of the American Cancer Society.
“Cecilia is an indispensable part of the company and we are thrilled to welcome her to our team,” said LoAnn Phung, client service manager.
2011 September 30 by Richard Lester
September 30, 2011 – Puget Sound Bank is pleased to announce the promotion of Jessica Westphal to cash management specialist on Puget Sound Bank’s cash management team. With over five years of banking experience, Jessica joined our staff one year ago as an administrative assistant. She is an avid supporter and participant of fundraising events to benefit the MS Society.
“Client satisfaction is crucial for the company’s long-term success and Jessica is known for her ability to be an advocate for the client. Please join us in welcoming Jessica to cash management,” said Jennifer Blevins, Puget Sound Bank’s cash management manager.