BELLEVUE, Wash., July 27, 2011 (GLOBE NEWSWIRE) -- Puget Sound Bank (OTCBB:PUGB) today announced that it has been selected as one of the fastest growing companies headquartered east of Lake Washington, by the Puget Sound Business Journal.
"We are delighted to be the only bank selected as one of the Eastside's fastest-growing companies in 2011 and honored by the Puget Sound Business Journal," said Jim Mitchell, Chief Executive Officer. To be considered for the award a business had to show minimum revenues of $500,000 in 2008, and must have achieved significant year-over-year revenue growth between 2008 and 2010; no small feat--especially for a bank--given the challenging economic times during that period.
A public award reception was held Thursday, July 21, at The Golf Club at Newcastle to honor these companies. This was Puget Sound Business Journal's newest awards program honoring innovative and inspirational companies headquartered east of Lake Washington.
Puget Sound Bank recently reported a 44% growth in profits to $869,269 for the first six months of 2011, from $605,105 in the like period a year ago. In fact, the bank has reported consistently profitable results for the last few years.
About Puget Sound Bank
Puget Sound Bank is a locally-owned and operated commercial bank proudly serving the greater Puget Sound region. Based out of Bellevue, Washington, the bank was founded to meet the specialized needs of small and medium-sized businesses, commercial real estate projects, professionals and individuals seeking a higher level of service in the Puget Sound region. Staffed by the most experienced, customer-oriented banking professionals in the region, Puget Sound Bank offers a full range of competitive financial products with superior customer service and a consultative/partnership approach to its clients. Puget Sound Bank provides online banking at www.pugetsoundbank.com and has access to a large branch network in the state of Washington. The bank can also provide remote capture technology which allows its clients to make deposits from their offices. Puget Sound Bank is located at 10500 NE 8th Street, Suite 1500, Bellevue, Washington. For more information, please call 425-455-2400.