Jim Mitchell Elected Chairman of Washington Bankers Association

Puget Sound Bank President and CEO to Lead Financial Services Trade Association

BELLEVUE, Wash.--()--Puget Sound Bank (OTCQB: PUGB) today announced that Jim Mitchell, Puget Sound Bank president and chief executive officer, was elected chairman of the board of the Washington Bankers Association (WBA), Washington’s oldest and largest financial services trade association, with members representing 95 percent of all commercial bank deposits in the state.

Mr. Mitchell’s term as chairman of the WBA will continue through June, 2016. As chairman he will work with the association’s board of directors, which is comprised of senior bank executives elected by the WBA membership in leading the organization in their mission to strengthen Washington state’s banking industry. WBA supports the banking industry through legislative advocacy in Olympia; by providing, professional development opportunities for bank employees, executives and directors; and by offering other operational support services to its members. In addition, the WBA also spearheads industry-wide community engagement activities, such as its annual Bankers Care campaign in support of Northwest Harvest and educational outreach to advance financial literacy skills of Washington’s K-12 students.

Mr. Mitchell has over 35 years of executive banking experience and has been active in a variety of community organizations, including serving on the boards of the Western Independent Bankers Association, Bellevue LifeSpring (chair of the board) and the advisory board of Seattle University’s Albers School of Business and Economics. Past board participation has included the Washington state chapter of the Multiple Sclerosis Society and Intiman Theatre in Seattle. He is a Northwest native and earned a law degree from Southwestern Law School in Los Angeles, an MBA from the University of Washington and an undergraduate degree from Seattle University.

Common stock for Puget Sound Bank trades on the OTCQB® electronic marketplace under the symbol PUGB.

About Puget Sound Bank

Puget Sound Bank is one of Washington state’s top commercial banks (as measured by commercial and industrial loans as a percentage of total loans) proudly serving the greater Puget Sound region. Based in Bellevue, Washington, the bank was founded to meet the specialized needs of small- and medium-sized businesses, select commercial real estate projects, professional service providers and high net worth individuals. Puget Sound Bank offers a full range of competitive financial products including an advanced suite of cash management services. Customers can access their accounts in-branch, online, on mobile devices or through Puget Sound Bank's ATM network throughout the continental United States. For more information visit www.PugetSoundBank.com or call (425) 455-2400.

Puget Sound Bank is consistently rated one of the country’s safest and strongest banks by independent analysts and celebrates its 10-year anniversary this year.

To access investor relations information for Puget Sound Bank, visit www.PugetSoundBank.com/IR or call (425) 467-2037.

About the Washington Bankers Association

Founded in 1889, the Washington Bankers Association works to protect, develop and advance the business of banking in Washington state. WBA is the largest financial services trade association and represents commercial and savings banks chartered to do business statewide. www.wabankers.com.

Contacts

Puget Sound Bank
Brad Ogura, 425 467-2037

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