2016 March 25 by Brad Ogura
Event raises $365,000 to support children and families in need
March 25, 2016 – Bellevue LifeSpring’s 17th annual “Step up to the Plate “ lunch, held at Bellevue’s Meydenbauer Center Thursday, hit it out of the park, raising almost $365,000 in one hour.
Puget Sound Bank president and chief executive officer Jim Mitchell, shown at far left, also serves as Bellevue LifeSpring’s president and chair. With him are Bellevue LifeSpring executive director Jennifer Fischer and Bellevue School District superindendent Dr. Tim Mills (at right). Photo by Patti Payne.
For the full story, read Patti Payne’s report as published by the Puget Sound Business Journal on March 25, 2016.
2016 March 9 by Brad Ogura
Highest Rating (“Superior”)
March 9, 2016 – For the 22nd 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.
2016 February 26 by Brad Ogura
February 26, 2016 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced recent staff promotions:
Joe Cholewczynski has been promoted to document imaging supervisor. In his new role he will distribute workflow for imaging team members and ensure quality control. He joined Puget Sound Bank in 2015 as a document imaging specialist.
Jenny Guimond has been promoted to customer service officer II. In her new role she will help create and implement training programs for the customer service team in addition to continue to service customers. Ms. Guimond joined Puget Sound Bank in 2013 as a customer service associate and was promoted shortly thereafter to customer service officer I.
“Both these promotions reflect Puget Sound Bank’s ongoing commitment to recognizing individuals who understand the Bank’s above-and-beyond service philosophy – within the organization and to our external customers,” said Elaine Wolfe, Puget Sound Bank senior vice president and Bank services manager.
Puget Sound Bank has been named a best workplace, fastest growing company and top corporate philanthropist by the Puget Sound Business Journal and is consistently rated one of the country’s strongest banks by independent analysts.
Common stock for Puget Sound Bancorp trades on the OTCQB® electronic marketplace under the symbol PUGB.
About Puget Sound Bank
Puget Sound Bank, the primary subsidiary of Puget Sound Bancorp, is one of Washington state’s top commercial banks (as measured by commercial and industrial loans as a percentage of total loans). Based in Bellevue, Washington, the bank was founded to meet the specialized needs of small- and medium-sized businesses, select commercial real estate projects, professional service providers and high net worth individuals. Puget Sound Bank offers a full range of competitive financial products including an advanced suite of cash management services. Customers can access their accounts in-branch, online, on mobile devices or through Puget Sound Bank’s ATM network throughout the continental United States. For more information visit www.PugetSoundBank.com or call (425) 455-2400.
To access investor relations information for Puget Sound Bank, visit www.PugetSoundBank.com/IR or call (425) 467-2037.
2016 January 20 by Brad Ogura
Fourth Quarter ROE reaches 10.04% and ROA hits 0.95%
January 20, 2016 — Puget Sound Bancorp (OTCQB: PUGB), the holding company for Puget Sound Bank, today reported record net income of $4.1 million or $1.22 per share for the year ending December 31, 2015, which compares to $3.2 million or $1.06 per share for the year-earlier period, a 27% increase in net income. For the quarter ending December 31, 2015, net income was $1.1 million or $0.33 per share as compared to $952,426 or $0.31 per share for the year-earlier quarter, a 20% increase in net income.
2015 December 18 by Brad Ogura
Winners to be Announced in June 2016
December 18, 2015 — Puget Sound Bank recently announced that it has been nominated as one of Seattle Business magazine’s 100 Best Companies to Work for. Now in its 27th year, the program recognizes Washington state companies that set the standard for leadership, benefits, work environment, training programs and more. Companies on the 100 Best List are chosen based on responses from employee surveys.
2015 December 16 by Brad Ogura
December 16, 2015 — Continuing with our Thanksgiving and Christmas tradition, Puget Sound Bank employees teamed with Bellevue LifeSpring to provide food and presents to a local family in transition.
LifeSpring’s Adopt-a-Family program matches local families in need with organizations such as Puget Sound Bank. Those interested in helping distribute food and gifts at the Christmas distribution center may contact the organization at info@BellevueLifeSpring.org.
2015 December 11 by Brad Ogura
“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.
2015 December 3 by Brad Ogura
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.
2015 November 5 by Brad Ogura
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.
2015 October 22 by Brad Ogura
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.