Kitsap Peninsula Business Journal
12-5-2003
Wells Fargo completes PNWB acquisition
   Wells Fargo & Company recently completed its acquisition of Pacific Northwest Bancorp (PNWB), significantly increasing Wells Fargo’s presence in western and central Washington...   (Full Article)
12-5-2003
Overstocked at year-end?
Donate for deductions
   Does your company’s fiscal year end Dec. 31? That date is quickly approaching, so what are you going to do with the excess inventory that is sitting in your warehouse...   (Full Article)
12-5-2003
Kitsap Bank hires one, promotes two
   Kitsap Bank recently announced two staff promotions and the hiring of a new branch operations manager...   (Full Article)
12-5-2003
Financial plan for small business
as important as a personal one
By Mike Bentz, Waddell & Reed
   A small business is a unique as its owner, and certain needs must be met for it to flourish. Owners need to make sure their business financial plan matches their goals and defines their objectives...   (Full Article)
12-5-2003
A nasty surprise at some trade shows
   You may want to check what taxes you’ll pay at any trade shows outside your home state. For example, Pennsylvania has just started enforcing an archaic tax that stings out-of-state companies exhibiting at shows. Washington also demands that use tax be paid for out of state purchases. Check with your accounting professional for more information.
12-5-2003
Childs signs on with Kitsap Bank
   Shannon Childs has been named as the new marketing director and public relations manager for Kitsap Bank. In the position, she will be responsible for the marketing functions as well as media relations for the bank.
   She most recently served in a similar position with Paladin Data Systems from its early, start-up days until just recently. Childs also previously served as the local liason and media relations coordinator for former first district congressman Rick White before joining Paladin.
   “We’re thrilled Shannon has joined us,” said an enthuisastic Jim Carmichael, president of the 95 years old local bank. “She’ll be a great addition to our staff.”
12-5-2003
Kitsap Bank posts record nine-month
earnings in its 95th year
   Kitsap Bank achieved record earnings for the first nine months of 2003. Earnings for the period were $7.5 million. The return on assets was 2.0 percent and the return on equity was 20 percent.
   Primary factors for the record profits were strong commercial loan growth, including substantial SBA loan growth and a significant increase in mortgage lending activity. Commercial loans increased $38 million for the past year. Total loans were $392 million. In addition, the Bank closed $203 million in residential mortgage loans during the nine months. This set a record for residential mortgage lending at Kitsap Bank.
11-7-2003
Third quarter strong for Frontier Bank
Board changes announced
   Frontier Financial Corp. The parent company of Frontier Bank, announced strong third quarter earnings of $10.5 million, or $.56 per diluted share for the three months ended Sept. 30...   (Full Article)
11-7-2003
HMcCormick selected one of most powerful women in banking
   Karen McCormick, president and CEO, of Port Angeles-based First Federal Savings and Loan Association, has been selected as one of the 25 Most Powerful Women in Banking by U.S. Banker magazine. The institution operates a mortgage banking office in Poulsbo...   (Full Article)
11-7-2003
Washington Federal completes best year
   Washington Federal, Inc., parent company of Washington Federal Savings, announced earnings of $145.5 million or $2.07 per diluted share for the year ended Sept. 30, 2003, compared to $143.9 million or $2.04 per diluted share for the same period one year ago, a 1 percent per share increase...   (Full Article)
11-7-2003
Saving for retirement especially
vital for women
By Bill Whitney
   Despite much progress in the last decade, American women executives still earn only two-thirds as much as men, according to a study by the Korn/Ferry International executive search firm and the University of California – Los Angeles...   (Full Article)
11-7-2003
Stenman PCBS graduate
   Brent Stenman, vice president and manager at Frontier Bank, Poulsbo, graduated from Pacific Coast Banking School on Aug. 29.
11-7-2003
Harkness joins Kitsap Bank
   Sally Harkness recently joined Kitsap Bank as an assistant vice president and operations manager for the Small Business Administration department.
   Previously with a large regional bank, she held the position of vice president and banking center manager. Harkness has over 19 years in commercial and consumer lending.
10-10-2003
Top 10 list of helpful steps when
planning your estate
By Bim Prince
Edward Jones Investments
   All our lives, we plan. Some of the things we plan, such as what to have for dinner or the route we’ll take to work, are so trivial they require little thought. Other things, such as a family vacation or purchasing a new home, require a great deal of thought. All day, every day, we plan. Yet, many of us fail to plan for one of the most important tasks of all – what will happen to our possessions once we’re gone...   (Full Article)
10-10-2003
Pacific Northwest Bancorp shareholders
approve Wells Fargo merger
   Pacific Northwest Bancorp, the holding company that owns Pacific Northwest Bank (PNWB) announced at a special meeting that its shareholders approved the merger of PNWB with a subsidiary of Wells Fargo & Company. In the proposed merger, Wells Fargo will acquire PNWB...   (Full Article)
10-10-2003
Rapid relief for cash flow woes
By Rich Weaver
   Fred’s Sleds & Sheds was already struggling. It hadn’t snowed a lick the previous winter, sleds were piled up in the warehouse, and cash was getting tight...   (Full Article)
10-10-2003
Bremerton Symphony to present
The Masters on Oct. 4
   On Sat., Oct. 4 at 7:30 p.m. the Bremerton Symphony Orchestra and Concert Chorale, with Elizabeth Stoyanovich, as Conductor will present...   (Full Article)
9-9-2003
Registering securities in firm name
can be a bargain
By Bill Richardson
Edward Jones Investments
   In this day and age of $150 designer purses, $50,000 cars and $1 million homes, bargains can be difficult to find. One bargain that’s no secret, however, is registering securities in firm name...   (Full Article)
9-9-2003
New SBA Web site targets women
   The Small Business Administration and the Department of Labor have launched www.women-21.gov – the official site for federal government resources for women...   (Full Article)
9-9-2003
Credit card sites that include rate comparison
   Many Americans carry balances on their credit cards that can create hefty interest charges when the annual percentage rates on the cards are too high. As a result, cards with low interest rates, low fees and great terms have become important financial tools...   (Full Article)
9-9-2003
UW project management course on Bainbridge
   The Bainbridge Island Chamber of Commerce will once again partner with the University of Washington in the 2003-2004 academic year to offer the UW Project Management Certificate Program on Bainbridge Island...   (Full Article)
9-9-2003
McCormick elected VP of state Financial League
   Karen L. McCormick, president and chief executive officer of First Federal Savings & Loan Association of Port Angeles, has been elected vice chair of the Washington Financial League, a trade association representing all savings and loan associations and savings banks with offices within the state, as well as several community banks...   (Full Article)
9-9-2003
PNWB schedules special shareholders
meeting to approve Wells Fargo Merger
   Pacific Northwest Bancorp (PNWB) announced it has scheduled a special meeting of shareholders of record as of Aug. 5, 2003, on Tuesday, Sept. 16, at 2 p.m. at the Seattle Art Museum Main Auditorium, 100 University Street, Seattle. The purpose of the meeting is to vote on the proposed acquisition of PNWB by Wells Fargo & Company.
8-1-2003
Silverdale Chamber of Commerce
announces award nominees
   On Saturday Sept. 20, the Silverdale Chamber of Commerce will recognize businesses and individuals who have made a significant impact on the growth and development of Silverdale and Central Kitsap County...   (Full Article)
8-1-2003
Local coach tapped to
co-chair national committee
   Molly Gordon, a business and marketing coach based in Suquamish,has been appointed co-chair of the International Coach Federation's (ICF) marketing committee. In that spot, Gordon is responsible for internal marketing with an initial focus on establishing the ICF credentials as the gold standard of coaching worldwide. Co-chair Linda Finkle of Potomac, Maryland, is overseeing external marketing projects...   (Full Article)
8-1-2003
Frontier Bank reaches milestone during Q2
   Frontier Financial announced record second quarter earnings of $10.1 million, or $.55 per diluted share for the three months ended June 30. This compares to earnings of $9.1 million for the second quarter for 2002...   (Full Article)