|
Kitsap Bank announced that it experienced continued growth for the first half of 2007. At the conclusion of the 2nd quarter, Kitsap Bank’s total assets reached a record high of $754 million — a 10 percent increase during the past year. Deposits grew by $19 million during the first half, increasing by 8 percent over the past year.
During this same time period, Kitsap Bank also achieved solid loan growth, resulting in a $25 million increase, reflecting gains in both commercial and consumer loans. Year-to-date earnings were $4,908,000.
“Our asset growth can be attributed to substantial gains in both deposits and loans,” remarks Jim Carmichael, Kitsap Bank president and CEO, “Kitsap Bank’s credit quality has remained strong, and we continue to maintain stable interest margins despite a challenging rate environment.”
|
