2016 October 27 by Brad Ogura
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.
2016 September 30 by Brad Ogura
September 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.
2016 September 23 by Brad Ogura
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.”
2016 September 9 by Brad Ogura
Highest Rating (“Superior”)
September 9, 2016 – For the 24th 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.
BauerFinancial has been analyzing and reporting on the nation’s banks since 1983. This 5-start rating indicates that Puget Sound Bank is one of the strongest banks in the nation.
2016 September 8 by Brad Ogura
September 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
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.
2016 August 31 by Brad Ogura
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.”
2016 August 3 by Brad Ogura
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.
2016 July 20 by Brad Ogura
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.
2016 July 18 by Brad Ogura
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.
2016 June 29 by Brad Ogura
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.