Washington Business Bank has announced its 2017 Q2 results, posting a net income of $139,800 — a 60 percent increase from the same period last year.
“Our team continues to do a great job of growing the bank,” said Jon Jones, CEO of Washington Business Bank. “We are pleased that more entrepreneurs and professionals are learning about the benefits of banking at Washington Business Bank. Our mission is to help them become even more successful.”
The Olympia-based bank’s second quarter also surpassed its Q1 earnings of $132,300 by 5.67 percent.
Year-to-date earnings through June 2017 were $272,100, 36.25 percent higher than the year-to-date June 2016 earnings of $199,700.
Loans outstanding also increased 8.88 percent in 2017 Q2 to $60,588,000, up from $55,645,000 at the same period in 2016. Total deposits increased 10.69 percent to $56,797,000, up from $51,311,000 in 2016’s second quarter.