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21st Consecutive 5-Star Rating for Puget Sound Bank

2015 December 11 by

5-star logo DEC 2015

“Superior” Rating for Strength

December 11, 2015 – For the 21st 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.

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Puget Sound Bank Announces Staff Promotions

2015 December 3 by

Changes Reflect Growth of Organization

December 2, 2015 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced recent staff promotions:

Danial Meuli has been promoted to cash management lead. She joined Puget Sound Bank in 2013 as a senior cash management specialist.

Anahita Soltani has been promoted to customer service support. She joined the Bank earlier this year as a customer service associate/imaging specialist.

Read the complete news release.

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Puget Sound Bank Forms Holding Company

2015 November 5 by

Bancorp sq

Shareholders Approve Reorganization

November 5, 2015 — Puget Sound Bank (OTCQB: PUGB) announced that it has received shareholder approval to reorganize its operations into a bank holding company. The new holding company, Puget Sound Bancorp, Inc., will continue to trade on OTC Markets with the same trading symbol, PUGB.

Read the complete news release.

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Puget Sound Bank Reports Third Quarter Results

2015 October 22 by

First Million-Dollar Net-Income Quarter

October 22, 2015 — Puget Sound Bank (OTCQB:PUGB) reported net income for the third quarter of 2015 of $1.0 million or $.29 per share, an 18% increase as compared to net income of $849,682 or $.28 per share for the third quarter of 2014.

Net income for the nine months ending September 30, 2015, was $2.9 million or $0.89 per share as compared to $2.3 million or $0.74 per share, a 26% increase from the year-earlier period.

Read the complete news release.

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The Healing Center Hosts Puget Sound Bank

2015 September 21 by

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PSB Staff Lends a Helping Hand
as Part of United Way Day of Caring

September 18, 2015 — Puget Sound Bank staff spent part of the day at The Healing Center of Seattle as part of United Way’s annual Day of Caring. It was a day of hard work — cleaning, washing and organizing at this community center for grief support.

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20th Consecutive 5-Star Rating for Puget Sound Bank

2015 September 9 by

“Superior” Rating for Strength

September 9, 2015 – For the 20th 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.

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Jacob Beaty Joins Puget Sound Bank

2015 August 18 by

New Depth of Experience Added to Management Team

August 18, 2015 –Puget Sound Bank (OTCQB:PUGB) announced that Jacob Beaty joined the Bank as vice president, financial reporting and analysis officer.

In this newly created position Mr. Beaty will be responsible for building and managing the Bank’s key management reporting processes, including profitability management systems and product pricing. Read the complete news release

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Puget Sound Bank Rated One of Healthiest in Nation

2015 July 21 by

healthiest-banks

Independent Rating Firm Gives Puget Sound Bank an Overall A+

July 21, 2015 — Puget Sound Bank (OTCQB: PUGB) announced that for the second consecutive year it has been named one of the nation’s healthiest banks by DepositAccounts.com, an online publication that assesses the health of banks on various criteria, including capitalization, deposit growth and loan-to-reserve ratios. Read the complete news release.

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Puget Sound Bank Profits Increase 44% in Second Quarter

2015 July 15 by

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

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Jim Mitchell Elected Chairman

of Washington Bankers Association

2015 July 1 by

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

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