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Puget Sound Bank Named a Top Corporate Philanthropist

2016 April 14 by

One of Washington State’s Top 75

Corporate Citizenship bestApril 13, 2016 — Once again, the Puget Sound Business Journal will honor Puget Sound Bank as one of Washington state’s top corporate philanthropists.

The annual event recognizes cash giving to Washington state nonprofits, and announces the ranking at their annual lunch event (this year, May 19 at the Seattle Sheraton).

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Sam F. Adrian Joins Puget Sound Bank

2016 April 11 by

April 11, 2016 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced that Sam F. Adrian joined the company as vice president, relationship manager.

Mr. Adrian works with business owners in the greater Puget Sound market helping them to grow, prosper and effectively manage their organizations. “Hiring Sam supports the Bank’s commitment in building strong partnerships with our clients,” said Katherine Thompson, Puget Sound Bank senior vice president and team leader. “He brings a broad range of community banking experience, especially with small- to medium-size businesses, and will be instrumental in supporting our growth.”

Mr. Adrian currently serves as the treasurer for the board of directors of Firland Foundation, a nonprofit based in Shoreline, Washington that provides employment opportunities for individuals with disabilities. He is a graduate of the University of Iowa.

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Puget Sound Bank Marks 11th Anniversary

2016 April 11 by

April 11, 2016 — Today marks the 11th anniversary of Puget Sound Bank, and each year the Bank pauses to reflect on 11 years of resounding success made possible by our customers, business and community partners, employees and shareholders.

Today, Puget Sound Bank is one of the strongest and most successful business banks in the country. We’ve enjoyed working with our customers, helping them grow and succeed through the years, and we’re pleased to partner with our service providers who have helped us grow and succeed as well.

We are proud to support a variety of community organizations, ranging from basic needs, education and civic support. Puget Sound Business Journal has named Puget Sound Bank one of Washington state’s top corporate philanthropists — and as well, we have been named a Puget Sound Business Journal Best Workplace.

On this special day, we reach out to thank everyone and every organization who has made our success possible.

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Puget Sound Bank Nominated as a Best Workplace

2016 March 31 by

2016 PSBJ logoMarch 31, 2016 — Puget Sound Bank, the bank subsidiary of Puget Sound Bancorp (OTCQB: PUGB), announced it has been nominated as a Puget Sound Business Journal Best Workplace.

Each year hundreds of companies and nonprofit organizations of all sizes compete for the top honors. Last year Puget Sound Bank was a finalist and participated in Puget Sound Business Journal’s August event honoring the regions’s top 80 organizations.

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Puget Sound Bank a Bellevue LifeSpring HERO FOR HOPE

2016 March 25 by

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.

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22nd Consecutive 5-Star Rating for Puget Sound Bank

2016 March 9 by

5-star logo JAN 2016

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.

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Puget Sound Bank Announces Promotions

2016 February 26 by

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.

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Puget Sound Bancorp Reports
Record Year as Net Income Increases 27%

2016 January 20 by

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.

Read the complete news release.

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Puget Sound Bank Nominated as a Best Company

2015 December 18 by

Seattle Business Magazine Best Companies 2

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.

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Puget Sound Bank Provides

Support to Bellevue LifeSpring

2015 December 16 by


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

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