| Kitsap Bank, with 17 locations in Kitsap County, announced a 20 percent increase in quarterly earnings over the same period one year ago, totaling $4.6 million through the second quarter, compared to $3.8 million for the previous year. During the first half of 2005 both loans and deposits reflected significant increases.
Year-to-date, the Bank experienced loan growth of $36 million, with commercial loans contributing $28 million of that amount. During the same period deposits increased $48 million. As of June 30, assets totaled $601 million.
“This is a $49 million increase in assets for first half of the year, and is the largest in the Bank’s 97 year history”, said James E. Carmichael, president/Chief Executive Officer. “Increased deposits, along with product growth in Online Banking, Online Consumer and Mortgage Loans, and Cash Management Services, have all contributed to our excellent performance.”. |
