2014 July 16 by Brad Ogura
Results Driven by Acquisition,
Organic Growth and Excellent Credit Quality
July 16, 2014 — Puget Sound Bank (OTCQB:PUGB) reported net income for the second quarter 2014 of $668,798 or $.22 per share, a 40% increase as compared to $476,416 or $.18 per share for the second quarter of 2013.
Puget Sound Bank’s loan portfolio increased 21% compared to a year ago to $300.7 million as the Bank continues to focus on relationships with small- and medium-sized businesses. Commercial and industrial (C&I) loans account for approximately 63% of the Bank’s portfolio, placing the Bank in the top 15% of all commercial banks in Washington state as a percentage of total loans.
2014 June 19 by Brad Ogura
Northwest Harvest Presents Hunger Hero Award to PSB
June 18, 2014 — To recognize Puget Sound Bank’s outreach to those in need, Northwest Harvest presented its LOCAL HUNGER HERO AWARD to the Bank.
As part of the Washington Bankers Association’s Bankers Care initiative this spring, Puget Sound Bank employees contributed cash to Northwest Harvest, which was matched by the Bank, to help eliminate hunger here in the Northwest.
2014 June 12 by Brad Ogura
15th Consecutive Quarter for Solid Financial Performance
June 12, 2014 — Puget Sound Bank has received the coveted 5-Star rating from BauerFinancial for the 15th consecutive quarter.
BauerFinancial is a nationally recognized, independent bank rating and research firm. Only 10 percent of the nation’s approximate 7,000 banks have earned this 5-Star Superior Quality Rating. This rating indicates they have done their research to determine the overall financial picture of the Bank. Areas reviewed include but are not limited to capital ratio, profitability/loss trend, evaluating the level of delinquent loans, charge-offs and repossessed assets, the market versus book value of the investment portfolio, regulatory supervisory agreements, the community reinvestment rating (CRA), historical data and liquidity.
2014 May 22 by Brad Ogura
PSB Ranks 12th Statewide in its Category
May 22, 2014 – Puget Sound Bank was honored by the Puget Sound Business Journal as one of the top 75 corporate philanthropists in Washington state at the annual Corporate Citizenship Awards luncheon held in Seattle.
Companies were categorized by size (small, medium and large), with three in each category. Puget Sound Bank ranked 12th for companies with revenue under $20 million. The sold-out event celebrated the companies and those who serve on nonprofit boards, volunteer, and leverage resources to give back to their communities.
Since its inception, Puget Sound Bank has encouraged employees to support the communities where we work and live. In addition, the Bank – as evidenced by the acknowledgement of the Puget Sound Business Journal, gives generously to support the endeavors of local nonprofits. Led by president and chief executive officer Jim Mitchell, supported by the board of directors and executive management, all employees are encouraged to give their time, resources and talent to organizations that help mentor youth, educate a new work force and assist those in need.
2014 April 22 by Brad Ogura
Connie Yenne, Northwest Native and Community Banker, Joins PSB
April 22, 2014 — Puget Sound Bank (OTCQB: PUGB) recently announced Connie Yenne has joined the Company as vice president, controller.
“Connie joins the Bank at an exciting time as we are experiencing record growth,” said Jim Mitchell, Puget Sound Bank president and chief executive officer. “Her strong banking background will be critical to support our growing organization.”
She is a Northwest native and has spent her career in various community banking roles, including finance, information services, and deposit and loan operations. Most recently she served as controller at a Seattle community bank. She is a graduate of the University of Washington and Western Governors University Washington.
2014 April 16 by Brad Ogura
First Quarter Results Reflect Successful Acquisition Strategy
April 16, 2014 — Puget Sound Bank (OTCQB:PUGB) today reported record net income of $752,521 or $0.25 per share for the quarter ending March 31, 2014, an increase of 41% as compared to $533,126 or $0.21 per share for the year earlier period.
This quarter’s net income exceeds all previous quarterly results in the Company’s nine-year history and is the first quarter since announcing the purchase of Core Business Bank in March 2013 (completed in June 2013) to include no acquisition costs.
2014 April 11 by Brad Ogura
April 11, 2014 — Nine years ago Puget Sound Bank formally opened its doors to begin business as a “community business bank” and today the company celebrated nine successful years of serving the business-banking needs of local small- and medium-size businesses.
We celebrate local, the communities where we live and work, our customers and employees, and look forward to the next nine years.
2014 April 10 by Brad Ogura
One of Top 75 in Washington State
April 10, 2014 – Puget Sound Bank is pleased to announce that we have been selected by the Puget Sound Business Journal as one of Washington state’s top 75 corporate philanthropists for our support of the nonprofit community.
Puget Sound Bank will be recognized on May 22, 2014 at the Puget Sound Business Journal’s annual Corporate Citizenship Awards luncheon event, where the publication will announce the top three companies in the categories of small, medium and large companies.
In partnership with The Seattle Foundation, the Puget Sound Business Journal will also present the Healthy Community Corporate Champion Awards to companies that have made significant, positive impacts on the community through volunteer work, in-kind donations, and cash contributions, and have embraced corporate philanthropy as part of their company culture.
Puget Sound Bank is honored to be recognized by the Puget Sound Business Journal for our support of the communities where we live and work.
2014 April 9 by Brad Ogura
Industry Leaders to Share and Explore Strategies at Annual Event
BRENTWOOD, Tenn., April 9, 2014 – Jim Mitchell, president and chief executive officer of Puget Sound Bank (OTCQB: PUGB), will speak at the Bank Director’s Growth Conference on May 1, 2014 in a panel session that will discuss where and how banks should be looking for loan growth. The Growth Conference will feature Mr. Mitchell’s insights as an integral part of the event, which explores strategies and concepts to improve efficiencies to provide solutions to the growth challenges faced by the banking industry.
Over 100 chairmen and senior executives of banks, including chief executive officers, presidents, chief marketing officers and senior retail banking executives, are expected to attend the event, which will take place in New Orleans from May 1-2, 2014.
About Bank Director
Since 1991, Bank Director has served as a leading information resource for the directors and officers of financial institutions. Through its quarterly magazine, executive-level research, annual conferences, and its website, BankDirector.com, Bank Director reaches the leaders of the institutions that comprise America’s banking industry. Bank Director is headquartered in Brentwood, Tennessee. For more information about The Growth Conference, visit BankDirector.com/conferences or contact Michelle King, director of marketing, (800) 826-8987.
2014 April 8 by Brad Ogura
Washington Bankers Association Meets with Jim Mitchell
Titled “In Step with Jim Mitchell — Patience and Focus Guides Success” the executive-profile highlighted Jim’s answers when asked to share his lessons learned and strategies for success.
Click on the magazine icon to read the interview in its entirety.