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Peoples Bank certified as preferred SBA lender
Ellis named loan manger |
| George W. Bowen, Executive Vice President of Peoples Bank, announced that the Bank has achieved preferred lender status with the Small Business Administration (SBA) and has hired David Ellis as assistant vice president and SBA loan manager... (Full Article) |
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Venture Financial Group
announces cash dividend |
| Venture Financial Group, Inc., parent company of Venture Bank, announced a cash dividend of $.07 per share payable August 12 to all shareholders of record as of August 1. The dividend marks the twenty-sixth consecutive quarterly dividend. |
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Washington Federal increases cash dividend |
| Washington Federal, Inc., parent company of Washington Federal Savings, paid an 5.26 percent increased quarterly cash dividend on July 15 to common stockholders of record on July 1. This was Washington Federals 90th consecutive quarterly cash dividend. |
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Timberland Bancorp increases dividend |
The Board of Directors of Timberland Bancorp, Inc. has declared a quarterly cash dividend of $0.16 per share of common stock for shareholders of record August 9, payable August 24.
The $0.16 per share represents a seven percent increase over the prior quarter’s dividend rate of $0.15 per share. This marks the 30th consecutive quarter Timberland has paid a cash dividend. |
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Sterling Savings converts to commercial bank |
Spokane-based Sterling Financial Corp., which operates an branch on Bainbridge Island, announced that it has received approval from the Washington State Department of Financial Institutions to convert Sterling Savings Bank, its wholly owned subsidiary, from a state-chartered savings and loan to a state-chartered commercial bank. Approval from the Federal Reserve Board has been received as well. The charter conversion is effective immediately.
The change allows the company to provide more financial services and lending options than were allowed under the rules governing thrifts. |
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Good investment opportunities
By Ron Rada |
While we are waiting to get our next financial contest together I thought I would share some insights into some investment opportunities.
Back in first grade or so, you learned that U.S. territory ended where Mexico’s or Canada’s began. Geographically speaking, that is still true. But when it comes to investing, you don’t have to remain within U.S. borders – because you can find opportunities anywhere in the world... (Full Article) |
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Is it time to consolidate your assets?
By Pam Piper |
| If you’re like many people, you keep investment vehicles in different places. You might have started traditional IRAs with two or three financial services providers while buying some stocks from still another. And you may have purchased a fixed annuity from an insurance company. As long as you keep track of all these accounts, you might think it doesn’t matter where they are “housed.” However, if you scatter your investments here, there and everywhere, you could end up in uncharted territory when it’s time to pull everything together... (Full Article) |
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Gas prices, taxes put the squeeze
on businesses, consumers alike
By Rodika Tollefson |
| On July 1, motorists began paying a new 3-cent-per-gallon tax at the gas pump in the state, thanks to the recently adopted $8.5 billion transportation package. Three cents may not mean much — but by the time the rest of the 9.5-cent tax becomes in effect in the following three years, Washington may lead the way for the highest gasoline tax in the country... (Full Article) |
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Local Toastmasters Clubs |
| In Kitsap, these are the open clubs, their meeting times and places, plus a contact number... (Full Article) |
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American Marine welcomes
Traylor, Touger and Kaye |
American Marine Bank recently announced that addition of Pam Traylor, Steve Touger and Barbara Kaye.
Traylor will work as a new loan officer in the Silverdale Home Loan Center with lending responsibility for most of the Kitsap and Mason County markets... (Full Article) |
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Wells Fargo names new
Poulsbo store manager |
| Melinda Santa Cruz has been named manager of Wells Fargo’s Poulsbo store. She previously managed the Wells Fargo stores in Bremerton and East Bremerton... (Full Article) |
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Washington Federal increases cash dividend |
The Board of Directors of Washington Federal, Inc., parent company of Washington Federal Savings, announced a 5.26 percent increase in the company’s quarterly cash dividend to 20 cents per share from 19 cents per share. The dividend will be payable July 15 to common stockholders of record on July 1.
This will be Washington Federals 90th consecutive quarterly dividend. |
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Peoples Bank names Olanie as
Senior VP and business market manager |
Peoples Bank, recently announced that Andre Olanie has been named as senior vice president and business market manager for Kitsap County.
Olanie joins Peoples Bank with over 24 years of banking experience, most recently as senior vice president and business banking manager at American Marine Bank. In his new position, Olanie’s responsibilities will include commercial lending, fulfilling the business banking needs of businesses in Kitsap County and continuing the Bank’s strong legacy of offering a higher level of service to its customers. |
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Frontier Bank named a
“Top Performer” by ICBA |
Frontier Bank was recently recognized by the Independent Community Bankers of America (ICBA) as a “Top 20” industry earnings performer. The announcement was released through the ICBA national publication, Independent Banker.
Frontier Bank was recognized for posting one of the top 20 best year-end earnings performances in 2004 for ICBA member banks with $500 million in assets or more. |
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Take steps to supplement
your retirement plan
By Ted Martin |
| If you follow the news — or even if you don’t — you’re probably aware that the country is debating the future of Social Security. However, this discussion, while important, may be obscuring another key issue: namely, that many people are finding their employer-sponsored retirement plans are falling short of providing the expected level of benefits... (Full Article) |
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Coldwell Banker International
recognizes McKenzie Associates |
| The real estate office of Coldwell Banker McKenzie Associates, located at 337 High School Road NE on Bainbridge Island, has been recognized by Coldwell Banker Corporation for excellence in 2004 for its real estate production. Eleven sales associates have been recognized for their outstanding performance... (Full Article) |
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Hiring summer help? Better know the law |
| Employers hire students or part-timers for the summer with the best intentions and too often the worst results. Here are some guidelines to follow... (Full Article) |
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Kitsap Bank reports record earnings |
| Kitsap Bank, with 17 locations in Kitsap County and branches in Clallam, Pierce and King counties as well, reported an earnings increase of 25 percent in the first quarter, with record asset and deposit growth... (Full Article) |
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Viking Financial Services Corp.
posts record first quarter earnings |
Viking Financial Services Corp. and its major subsidiaries, Viking Bank, which operates a branch in Poulsbo, and Viking Risk Management, achieved record earnings for the first quarter of 2005, announced Patrick D. Redmond, president & CEO.
Net income for the three months ended March 31 rose 20 percent to $1,067,000 from $888,000 for the same period in 2004. “Our exceptional financial performance came as a result of our commitment to exceeding the expectations of our customers, attracting and retaining the best group of community bankers and insurance professionals anywhere, and our keen focus on delivering high-value financial products and services,” according to Redmond. |
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Kitsap Bank welcomes Pugh |
Lisa Pugh, senior commercial lending assistant, has transferred to Kitsap Bank’s Port Orchard branch. Pugh joined Kitsap Bank one year ago as senior commercial lending assistant at the Bank’s Bainbridge Island branch.
Pugh holds a Bachelor of Arts degree in Business Administration with a concentration in Finance from the University of Washington. She has over five years of banking experience. |
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Venture Financial Group
announces cash dividend |
Venture Financial Group, Inc., parent company of Venture Bank, announced that the Board of Directors declared a cash dividend of $.07 per share payable May 13, 2005 to all shareholders of record as of May 2, 2005.
The dividend is an eight percent increase over the previous quarterly dividend, and marks the twenty-fifth consecutive quarterly dividend to be paid.
More information about the bank may be found at www.venture-bank.com. |
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Viking Financial posts record
first quarter earnings |
Viking Financial Services Corp. and its major subsidiaries, Viking Bank, which operates a branch in Poulsbo, and Viking Risk Management, achieved record earnings for the first quarter of 2005, announced Patrick D. Redmond, president & CEO.
Net income for the three months ended March 31 rose 20 percent to $1,067,000 from $888,000 for the same period in 2004. |
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IRS expands access to e-services products |
The Internal Revenue Service has expanded the number of tax professionals who can use its suite of e-Services incentive products.
Effective immediately, tax professionals who e-file any combination of five or more accepted individual and business tax returns in a calendar year can use these e-Services products: Disclosure Authorization, Electronic Account Resolution and Transcript Delivery.
When first launched in the summer of 2004, the e-Services incentive products were reserved for those who e-filed 100 or more individual returns.
The IRS developed its e-Services products to meet the needs of the tax practitioner community. The three incentive products increase tax filing efficiency and save valuable time and resources for tax practitioners. |
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Demand for SBA-backed loans sets record |
| American small businesses set a record pace for Small Business Administration (SBA) borrowing to start and expand their companies during the first quarter of fiscal year (FY) 2005, which began on Oct. 1, 2004. The SBA reports a jump of 23 percent more than the same period a year ago... (Full Article) |
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Put financial “Windfall” to work
By Lori Morgan |
| Like many people, you may dream of a day in which you get a sudden infusion of wealth. Realistically, you know that you’re probably not going to win the lottery, but you could get an inheritance. And, depending on its size, it could give you an enormous boost toward achieving your long-term financial goals – if you use the money wisely... (Full Article) |
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Kitsap Bank opens leasing division |
| Kitsap Bank has launched a new Equipment Leasing Division. Jerry Christensen, has been named vice president and leasing division manager and will lead the effort. Christensen comes to Kitsap Bank from California, where he most recently held the position of Senior Vice President of American River Bank of Sacramento... (Full Article) |
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KREDC seeks local Business Innovators |
| The Kitsap Regional Economic Development Council (KREDC) announced recently that it is seeking nominations for Kitsap Business Innovators, a new initiative connected to the organization’s upcoming website redesign... (Full Article) |
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Time-tested investment strategies
for 2005... and beyond
By Bill Whitney |
| As an investor, you’ve got a lot of questions. How will the markets do in 2005? Will the economy prosper? Where will interest rates go? These issues are not meaningless — but if you really want to work toward achieving long-term investment success, you’ll look past short-term factors and follow some “time-tested” investment strategies... (Full Article) |
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Edward Jones hosts satellite broadcast:
“The future of Social Security” |
| Pat McFadden, an Edward Jones investment representative in Poulsbo, will host a free one-hour satellite broadcast titled “The Future of Social Security” at 8:30 a.m., 3:30 p.m., and 5:30 p.m. on Feb. 8 at 19740 7th Avenue NE, Suite F... (Full Article) |
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Washington Federal declares
a 10 percent stock dividend |
| The Board of Directors of Washington Federal, Inc., parent company of Washington Federal Savings, at its annual meeting declared a 10 percent stock dividend to stockholders of record on Feb. 4, to be distributed on Feb. 18... (Full Article) |
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Konopaski appointed VP/Commercial
Lender with Westsound Bank |
David K. Johnson, President and CEO of Westsound Bank recently announced the appointment of Marty Konopaski as vice president/commercial lender. He will serve customers throughout the entire Olympic Peninsula, with a primary focus on the Port Angeles/Sequim market.
Konopaski is a graduate of Washington State University with a B.A. in business administration. He comes to Westsound Bank after a long stint with Wells Fargo/Pacific Northwest/Interwest Bank, where he most recently served as the North Peninsula District Manager.
Konopaski can be reached at the Port Angeles location at (360) 452-1133. |
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Workers’ comp rate hike will hit
Main Street hard
By Carolyn Logue
National Federation of Independent Business |
| By a twist of logic you can only gain from having spent too much time in government, the Department of Labor and Industries (L&I) is asking Washington business owners for a third consecutive increase in workers’ compensation premiums, in spite of having built up $9 billion in reserves... (Full Article) |
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American Marine Bank debuts
Generations Gold checking |
| American Marine Bank introduced its new Generations Gold Checking, delivering added value by offering discounts and savings on a wide variety of non-bank consumer products and services. When customers sign up for Generations checking, they have access to discounts on travel services, prescription drugs, long distance phone rates, entertainment, insurance, national clothing and gift retailers to name a few... (Full Article) |
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Time to review your 401(k) holdings
By Bim Prince |
This may be the time of year when your company gives you a chance to increase your 401(k) contributions. But how much to put in isn’t your only decision regarding your 401(k) — you’ll also want to look at your investment mix. Why? Because things change — and, if you want to get the maximum benefits from your 401(k), you’ll need to make sure it still meets your needs.
When considering adjustments to your 401(k), think about two key factors: the performance of your investments and the number of years you have until retirement. Let’s look at both... (Full Article) |
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Kitsap Bank promotes two |
Kitsap Bank recently announced the promotion of Shauna Becker to Operations Supervisor and Roger Fitzpatrick, CBA to Vice President/Compliance Officer.
In her new role, Becker, who has been with Kitsap Bank since 1998, will support branch operations at Kitsap Bank’s Bainbridge Island branch... (Full Article) |
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Congress reinstates sales tax deduction
after 18 years |
| President Bush recently signed a measure allowing Washington state taxpayers to deduct state and local sales taxes from their 2004 federal income tax return... (Full Article) |
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Columbia Bank forms
commercial lending teams |
| Columbia Bank has created new retail and commercial lending arms, which will include several promotions within the Tacoma-based bank’s business lending group... (Full Article) |
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Washington State faces skilled labor shortage |
| Whether east of the mountains or west, Washington State has a serious skilled labor shortage... (Full Article) |
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Minimum-wage hike another nail in the coffin
January 1 increase to $7.35 seen as barrier to job growth |
| Washington’s record-setting minimum wage will jump to $7.35 an hour on Jan. 1, 2005, bringing a warning from the state’s largest small-business group... (Full Article) |
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What can you deduct from an
employee’s final paycheck?
Getting company property back from an employee can be difficult. |
| Most questions concerning what can and can’t be witheld from an employees’ final paycheck usually center on the issue of whether an employer can or can’t hold an employee’s final paycheck until company property, keys, ID badge, etc. are returned. The short answer is “no.” State law mandates time limits for employers to pay employees... (Full Article) |
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New federal overtime rules in effect |
| The U.S. Department of Labor recently implemented new rules defining which workers must be paid overtime and the criteria that employers must meet to legally exempt an employee from overtime pay... (Full Article) |
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Carvalho joins Wells Fargo
community private banking |
| Bainbridge Island resident Edward Carvalho has been named assistant vice president and community private banker as a part of Wells Fargo’s Washington Community Private Banking initiative... (Full Article) |
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Viking Bank Kitsap County Advisory
Board reaches out to county leaders |
| In its ongoing efforts to help cultivate economic growth in Kitsap County, the Viking Bank Kitsap County Advisory Board met recently with Cindy Baker, interim director of Kitsap County’s Department of Community Development. Also in the meeting was Jon Rose, president of Olympic Property Group, a subsidiary of Pope Resources, which has a 150-year history as a land and timber owner in the Pacific NW... (Full Article) |
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Westsound Bank welcomes three |
| Westsound Bank recently announced the addition of Brent A. Stenman as vice president of commercial loans, Carla Camacho as assistant vice president-operations, and David M. Huck as assistant vice president-commercial loans... (Full Article) |
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How to “hit” your retirement savings target
By Bill Richardson |
| Like many people, you may have envisioned your “ideal” retirement lifestyle. Maybe you’d like to travel around the world. Or perhaps you’d like to spend a lot of time volunteering for a favorite charitable organization. You may even want to open a small business... (Full Article) |
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Faverman achieves registered
representative status |
| Heather Faverman, Linsco/Private Ledger sales assistant at Kitsap Bank, has successfully completed her life and health insurance test. “Completion of the test,” said Jim Carmichael, president/CEO, “completes Heather’s requirements to become an LPL Registered Representative allowing her to provide a greater range of services to our investment customers, including mutual funds and annuities... (Full Article) |
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Sarin joins Kitsap Bank |
Vicki Sarin recently joined the staff at Kitsap Bank as a Mortgage Loan Originator in the Silverdale branch.
Sarin is a 14-year veteran of mortgage lending, having worked most recently at American Marine Bank. According to Linda Smith, Senior Vice President, “Vicki was with Kitsap Bank for eight years previously, and we are very pleased to have her return to us. She brings excellent skills in loan origination and processing, along with a very high standard of customer service.” |
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Lee graduates from PCBS |
Local resident Sarah R. Lee, vice president, Wells Fargo Bank in Port Orchard, graduated from Pacific Coast Banking School (PCBS) on Sept. 3.
PCBS offers a two-year graduate level program of leadership and management education focused on the financial services industry. |
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Kitsap Bank to open new branch in Port Ludlow |
Kitsap Bank recently announced it will open a new, full-service branch at 102 Village Way in Port Ludlow.
Linda Germeau has been appointed assistant vice president and branch manager, and will provide both residential and consumer lending services. A Port Townsend resident, Germeau is a 17-year banking veteran, and most recently worked at American Marine Bank
Also joining the Kitsap team as branch operations supervisor will be Jennifer Carrier. Carrier brings more than 10 years experience in customer service and management. She will be joined by Port Ludlow resident Dominic Svornich who will serve as the financial services representative, and Leslie Kjosen who will serve as teller for the new branch. |
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Lunchtime workshop on
money management savvy |
| Whatever your financial goals may be, everyone needs a plan in order to achieve them. According to Steve Olson, a Certified Financial Planner with Eagle Strategies Corp., people should build their financial plan from a macro perspective. That means looking at the financial profile as a whole and developing an overall, long term strategy that coordinates things like retirement accounts, mutual funds, or insurance to fulfill a specific objective or manage a certain risk... (Full Article) |
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Kanalos joins board of American Marine Bank |
| American Marine Bank (AMB) recently announced changes to its Board of Directors. Karen Beierle will resign her position on the board effective Sept. 16 after serving on the board since 1993. Beierle, owner of Childwood Educational Materials, leaves her board position to devote more time to her business and family. As an AMB board member, Beierle was supportive of the banks growth opportunities... (Full Article) |
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Worker’s comp premium rates higher than
national average. L&I announces rate increase |
| Washington collects worker’s comp premiums based on hours worked. The U.S. Bureau of Labor Statistics (BLS), which produces the only report that compares rates on the number of hours worked, found that Washington and the other western states have been consistently higher in their national average for premium rates... (Full Article) |
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