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Article: Puget Sound Bank Announces Successful Second Quarter.(Financial report)

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Business Wire
Article date:
July 17, 2008
Copyright

Bank Combines Excellent Loan Quality with Strong Loan Growth for Record Profits

BELLEVUE, Wash. -- Puget Sound Bank (OTCBB:PUGB) today announced its continued operational success and strong profit growth for the quarter ending June 30, 2008. The bank's second quarter net income was $104,862, a $262,000 increase over the same quarter in 2007. The bank reported no loan losses for the thirteenth consecutive quarter.

"When many in the banking industry are challenged by poor asset quality and loan losses, Puget Sound Bank has once again distinguished itself with strong performance in the growth of loans, assets and net income," said Jim Mitchell, president ...

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