Kitsap 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.
