2015 July 15 by Brad Ogura
Total Assets Grow 19% to Reach $425 Million
July 15, 2015 — Puget Sound Bank (OTCQB: PUGB) reported net income for the second quarter of 2015 of $961,775 or $.28 per share, a 44% increase as compared to $668,798 or $.22 per share for the second quarter of 2014.
“This sustained growth results from Puget Sound Bank’s continued focus on our original model of serving small- to medium-size businesses with outstanding service from preeminent bankers,” said Jim Mitchell, Puget Sound Bank president and chief executive officer. “As we celebrate our 10-year anniversary we are continually thankful to our customers who have grown with us and expanded their relationships, and to those who continue to refer new business to us.” Read the complete earnings release
2015 July 1 by Brad Ogura
Washington’s Oldest and Largest Financial Services Trade Association
July 1, 2015 — Puget Sound Bank (OTCQB: PUGB) today announced that Jim Mitchell, Puget Sound Bank president and chief executive officer, was elected chairman of the board of the Washington Bankers Association (WBA), Washington’s oldest and largest financial services trade association, with members representing 95 percent of all commercial bank deposits in the state. Read the complete news release
2015 June 23 by Brad Ogura
2015 Finalists Announced
by Puget Sound Business Journal
June 23, 2015 — Puget Sound Bank (OTCQB: PUGB) today announced that it has been named a finalist in Puget Sound Business Journal’s annual Best Workplaces competition.
“As we celebrate our 10-year anniversary, we are pleased to once again be named a Best Workplace finalist,” said Jim Mitchell, Puget Sound Bank president and chief executive officer. “The board, management and I are thrilled that Puget Sound Bank employees consider the Bank one of the region’s best workplaces.” Read the complete news release.
2015 June 12 by Brad Ogura
Joins Bank as Vice President,
Operations Support Services Manager
June 12, 2015 — Puget Sound Bank (OTCQB: PUGB) today announced that Debbie L. Balovich joined the Bank as vice president, operations support services manager.
“We are pleased to have a new team member join us with such extensive banking experience,” said Jana Westphal, senior vice president and operations manager. “After a long search we knew we found someone who understands what customers expect and is able to effectively manage systems and people to meet those expectations.” Read the complete news release
2015 June 10 by Brad Ogura
“Superior” Rating for Strength
June 10, 2015 – For the 19th 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.
Since 1983 BauerFinancial has been compiling information that federal regulators require financial institutions to file every quarter. The information is subjected to a thorough analysis and is compared with historical data for consistency.
No institution pays for its rating, nor can banks or credit unions avoid a rating. For more information about BauerFinancial visit their website.
2015 June 5 by Brad Ogura
June 5, 2015 — Puget Sound Bank (OTCQB: PUGB) recently announced the promotion of Dean T. Peterson to assistant vice president, relationship manager.
“Dean has been an important part of our lending team,” said Steve Vincent, Puget Sound Bank senior vice president and team leader. “He has played a critical role in our continued ability to provide great commercial banking services, exceeding our clients standards during the phenomenal growth we have experienced this past year.”
Mr. Peterson joined Puget Sound Bank in 2013 after serving local commercial banking clients for over a decade. His new position will expand his responsibilities to include the development of new relationships as well as continuing to work to ensure the Bank’s services meet clients’ goals and business objectives. He grew up in Seattle and is a graduate of Western Washington University (Bellingham, Wash.).
2015 June 2 by Brad Ogura
New Customer Service Officer to Support Bank’s Growth
June 2, 2015 — Puget Sound Bank (OTCQB: PUGB) recently announced that Rhonda C. Beck joined the Bank as a customer service officer.
“We are pleased to have a new team member join us with such extensive banking experience,” said LoAnn Phung, vice president and customer service manager. “In addition,” Ms. Phung added, “her team approach will help continue to ensure our clients receive consistent, timely and knowledgeable service as the Bank grows.”
Ms. Beck has over 15 years of banking experience in various roles, including compliance, new business development and customer service.
2015 May 27 by Brad Ogura
Second Consecutive Year
for Bank to Receive Statewide Award
May 27, 2015 — Puget Sound Bank (OTCQB: PUGB) announced that the Puget Sound Business Journal named the Bank as one of Washington state’s top 75 corporate philanthropists for the second consecutive year. Puget Sound Bank was ranked twelfth in the small company category (revenues below $20 million) for both 2014 and 2015. Read the complete news release
2015 May 5 by Brad Ogura
May 5, 2015 — Puget Sound Bank announced that it will present at the annual D.A. Davidson Financial Services Conference on Tuesday, May 12, 2015 in Denver. CO. Jim Mitchell, president and chief executive officer as well as Phil Mitterling, executive vice president and chief financial officer will address conference attendees.
2015 April 15 by Brad Ogura
First Quarter ROE reaches 10.07% and ROA at 1.01%
April 15, 2015 – Puget Sound Bank (OTCQB: PUGB) today reported net income of $979,470 or $0.31 per share for the quarter ending March 31, 2015, an increase of 30% as compared to $752,521 or $0.25 per share for the year earlier period. For the second consecutive quarter, Puget Sound Bank achieved a return on equity above 10% and return on assets above 1% – primary industry ratios used to measure high-performing banks. Read the complete earnings release