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Article: Puget Sound Bank Announces Strong Third Quarter Results.(Financial report)
- Article from:
- Business Wire
- Article date:
- October 21, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Core deposits increase $49 million; Credit Quality remains excellent; Three promoted to Executive Vice President
BELLEVUE, Wash. -- Today, Puget Sound Bank (OTCBB:PUGB) reported third quarter results highlighted by a strong balance sheet at quarter-end including excellent credit quality, a solid liquidity position and a capital base of 14.5 percent -- far above the regulatory "well capitalized" levels of 10 percent.
The bank's credit quality continues to stand out from much of the banking industry. Puget Sound Bank has now had 14 consecutive quarters with no loan losses. At quarter-end there were also no 30 day past due loans or criticized loans.