Tag Archives: kitsap bank

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.

Local business vies for $20k prize on Thursday

edg3-fund-logo_sA Kingston farm is one of five finalists that will vie for a $20,000 award Thursday during the live finale for Kitsap Bank’s Edg3 fund competition.

Silver Creek Angus was the only Kitsap-based contestant to earn a spot in the finals for the Edg3 Fund, which honors businesses dedicated to growing their communities “economically, socially and environmentally.”

The finale is scheduled for 5:30 p.m. Thursday at Kitsap Conference Center in Bremerton. The keynote speaker will be Combat Flip Flops CEO Matthew Griffin, a former Edg3 Fund finalist who appeared on the ABC show Shark Tank.

A panel of judges will select the winner of this year’s $20,000 top prize, and a $5,000 prize for the contestant that best embodies “the spirit of community.”

The Edg3 Fund finale is part of a slate of events marking Global Entrepreneurship Week in Kitsap.

See the flyer below for additional events:

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Kingston farm named finalist for $20k prize

A Kingston cattle farm is the last Kitsap company left in the running for the $20,000 edg3 FUND small business prize.

Silver Creek Angus was one of five finalists Kitsap Bank announced for the prize last week. 

The longtime family farm raises Black Angus cattle and sells beef. You can learn more about their operation in the video above.

The edg3 FUND competition, now in its third year, promotes entrepreneurs “dedicated to growing our local community economically, socially and environmentally.”

This year’s $20,000 winner will be selected by a panel of judges during a live event Nov. 17 at Kitsap Conference Center in Bremerton.

An additional $5,000 will be awarded to the entrant that best embodies “the spirit of community.”

Four Kitsap companies in running for $20k prize

IMG_20150103_143133Four Kitsap County based businesses were among 11 semifinalists announced Friday for Kitsap Bank’s $20,000 edg3 FUND prize. 

The Kitsap competitors left standing are Bushel & Barrel Ciderhouse of Poulsbo, Silver Creek Angus, LLC. of Kingston, The Smithshyre of Poulsbo and Unique and Chic Event Rentals and Design of Port Orchard. Brett Marlo Design Build of Gig Harbor was also a semifinalists. 

A public vote will help determine five finalists, who will compete in a live finale Nov. 17 at the Kitsap Conference Center in Bremerton. A panel of judges will pick the winner.

Now in its third year, the edg3 FUND contest recognizes businesses that contribute to their communities economically, socially and environmentally.

Click here for more info.

Kitsap Bank reports record-breaking first quarter

KBsm_CMYK_BlkT_logoKitsap Bank enjoyed the best first quarter in its 107-year history this year, according to a news release.

Holding company Olympic Bancorp reported a 55 percent year-over-year increase in earnings in the first three months of 2016. Net income totaled $2.64 million, compared with $1.70 in the same period of 2015.

Loans grew by 22 percent, from $485 million to $591 million. Deposits were up 13 percent, from $873 million to $989 million.

“Our performance continues to be robust in this economy, producing record results for the bank,” Kitsap Bank CEO Steve Politakis said in the release.

Port Orchard-based Kitsap Bank operates 21 locations in Western Washington. The bank topped $1 billion in assets for the first time last year.

2015 was a big year for Kitsap Bank

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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.

Purpose Boutique, Smithshyre vying for $20k prize

Purpose-Boutique-2702_lightbox_7488042_ver1.0_640_480Two Kitsap County businesses are among five finalists for Kitsap Bank’s $20,000 edg3 FUND prize. 

Bremerton’s Purpose Boutique and Poulsbo’s Smithshyre farm were chosen from a pool of sixteen semifinalists.

The other finalists are Combat Flip Flops of Bellevue, Community Supported Biocycling of Seattle, and OlyKraut of Olympia.

The finalists will make their pitches to a panel of judges during a live finale. The event is scheduled for 5:30 p.m. Nov. 12 at the Kitsap Conference Center. Tickets are available here.

You can read more about Purpose Boutique here and Smithshyre here.

Six Kitsap companies in running for $20k prize

Smithshyre Farm
Who wouldn’t give this guy $20,000? Smithshyre farm in Poulsbo.

Kitsap Bank announced 16 semifinalists its $20,000 edg3 FUND competition Wednesday, and the list includes six Kitsap companies.

Nearly 60 businesses applied, according to a new release from the bank.

It just so happens we’ve written about all the local semifinalists at one time or another. Here’s the list of Kitsap hopefuls, with links to our stories:

Coyote Woodshop, Bainbridge Island (Kitsap Sun story)

F.R.O.G. Soap, Bremerton (Kitsap Sun story)

Kitsap Fresh, Poulsbo (KPBJ story)

Lisa Stirrett Glass Art Studio, Silverdale (Kitsap Sun story)

Purpose Boutique, Bremerton (Kitsap Sun story)

The Smithshyre, Poulsbo (KPBJ story and Meegan Reid photo above)

A public vote will help narrow the field of contenders September. Five finalists will give presentations during a live event Nov. 12 at Kitsap Conference Center in Bremerton, and the winner will be announced the same day.

The edg3 FUND contest recognizes businesses that contribute to their communities economically, socially and environmentally.

See the rest of the semifinalists below:

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Kitsap Bank reports $1 billion in assets

Kitsap-BankOlympic Bancorp, parent company for Kitsap Bank, reached a milestone at the end of June, reporting $1 billion in total assets for the first time in its history.

The bank also reported net income of $3.8 million for the first half of the year, compared with $3.2 million for the same period of 2014. Loan totals were up by 9.5 percent, while deposits reached $900 million, according to a Friday news release.

Olympic Bancorp recently announced an agreement to purchase Puget Sound Financial Services and its subsidiary, Fife Commercial Bank, pending shareholder and regulatory approval.

The transaction was approved by shareholders of Puget Sound Financial at a July 16 meeting, according to the release. Regulatory approval is expected soon.

Deadline nears for $20k small biz competition

Entrepreneurs and small business owners have one more week to sign up for Kitsap Bank’s $20,000 edg3 FUND competition. 

0707_KSAP_edg3 FUND logo_1435678770266_20553009_ver1.0_640_480The annual competition, launched in 2014, recognizes businesses that benefit their communities economically, socially and environmentally. The deadline for applications is July 31.

Judges will select semifinalists in August and a public vote will help narrow the field in September. Finalists will give presentations during a live event Nov. 12 at Kitsap Conference Center in Bremerton, and the winner will be announced the same day.

Last year’s competition drew about 70 entries. The winner was Pawzii, Inc., a company founded in Bremerton with offices in Seattle. Pawzii offers online pet licensing services.

See the edg3 FUND competition website for more details.