Peoples Bank announced its financial results for 2009, demonstrating continued strong performance and profitability even thought it closed all branches in Kitsap County.

Peoples Bank reports 2009 after tax profits of $3,965,657 on total assets of $1.1 billion as of December 31. Strong growth in core-deposits and home lending contributed to continued profitability. read more »

A group of state attorneys general and banking regulators predict a devastating acceleration of foreclosures unless policy makers step up efforts to assist homeowners.

The State Foreclosure Prevention Working Group issued a report that cited disturbing trends including a rising tide of delinquent mortgages outpacing servicer outreach and loss-mitigation efforts. The report also offered recommendations for action. read more »

The new West Sound branch office of E.K.Riley Investments is now open in Poulsbo.

Investment Manager Ed Stern will be providing full-range brokerage services including bonds, stocks, mutual funds and insurance annuity contracts to support short and long-term financial goals in accordance with savings, college and retirement plans. With well over twenty-years experience in the financial industry, specifically in the Poulsbo area, Stern brings the maturity and perspective important to successful investing. read more »

Coldwell Banker Real Estate LLC recently announced the findings from a new survey that looked at how the recently expanded federal homebuyer tax credit, which opened up the credit to existing homeowners, might impact the economy. Of the more than 1,000 homeowners surveyed, 83 percent responded that if they were to purchase a home and qualify for the tax credit, they would engage in “smart spending,” or put the money toward paying off existing debts, home improvements, savings/investments, or everyday household expenses. read more »

It’s been about a year since stock prices hit their low point during the long bear market. Since then, of course, we’ve seen a big rally, but some of the decisions you made when the market was at its lowest point may still be affecting your portfolio’s performance and prospects. So now that we’ve reached the one-year anniversary of the market bottom, it’s a good time to see where you are today and how you can prepare for tomorrow. read more »

It’s Tax Refund Season again. This year, if you’re going to get a check from your Uncle Sam, why not put it to work to help you meet your financial goals?

Last year, the average tax refund was more than $2,700, according to the IRS. The size of your refund, or whether you will get one at all, depends on your individual circumstances. But if you are going to get a refund, plan ahead for what you’ll do with it. read more »

Have you heard of the “survivor option?” How about a “death put?” These rather bleak terms reference a very useful choice for beneficiaries who inherit certain kinds of corporate bonds. This option has become increasingly common.

What does a death put do? If a bondholder dies before a bond reaches maturity, a death put lets the beneficiary sell the bond back to the bond issuer at face value. If your children inherit a corporate bond from you, a death put may be a much better choice than keeping the bond until maturity or selling it in the secondary market. read more »

Some familiar faces are missing from Bainbridge Island’s failed American Marine Bank (AMB), having their positions eliminated or resigning since Columbia State Bank took over the longtime Bainbridge Island institution on Jan. 29. It’s a sad end for a proud hometown bank that first opened its doors in 1942.

According to Columbia Bank spokesperson JoAnne Coy, over 20 people have left AMB since the takeover, including acting President and CEO Renzo Lucioni, who was elevated to the top job when longtime CEO Rex Townsend abruptly left after a review by the Federal Deposit Insurance Corp. (FDIC) last year. That review proved to be the precursor to AMB’s troubles. read more »