Tag Archives: finance

BridgeCare Finance wins Edg3 Fund prize

The Smithshyre farm in Poulsbo
The Smithshyre farm in Poulsbo

Mount Vernon-based BridgeCare Finance won Kitsap Bank’s $20,000 Edg3 Fund small business prize Thursday, according to a news release.

BridgeCare offers short-term loans to help working families afford childcare.

The Smithshyre farm in Poulsbo earned the $5,000 Community Edg3 Award, recognizing the entrant that “best embodies the spirit of community.”

The farm specializes in rearing organic, pasture-raised poultry.

Edg3 Fund winners were selected by a panel of judges during a live event at Kitsap Conference Center.

2015 was a big year for Kitsap Bank

Steve Politakis

The parent company for Kitsap Bank announced a 30 percent increase in earnings in 2015, capping what it called a “milestone year.”

Olympic Bancorp recorded net income of $8.42 million last year, according to a news release summarizing year-end results. Deposits grew 15 percent, reaching $962 million, and loans increased 22 percent to $584 million.

The Port Orchard-based bank topped $1 billion in assets for the first time, ending 2015 with nearly $1.1 billion. Kitsap Bank recently acquired Fife Commercial Bank, and completed a systems conversion in December.

“The economy in our market is rebounding, and we are seeing very positive signs with housing appreciation and new construction,” Kitsap Bank CEO Steve Politakis said in the release. “Business owners are expanding and investing in their companies.  We remain focused on the long term and are optimistic about the future.”

The bank donated more than $408,000 to charities last year, with an additional $504,000 committed to South Kitsap School District to replace an athletic field

Olympic Bancorp’s annual report can be viewed here.

Kitsap Bank is one of two banks headquartered in Kitsap County. The other is Liberty Bank in Poulsbo.

Click here for a graphic showing banks, bank branches and deposits in Kitsap County.