Kitsap Bank is pleased to announce that it has been named to the Echo Partner’s Interest Rate Risk Honor Roll, with a score of “100”, the highest score possible. Of the 7104 banks graded nationwide, only 191 rated a score of 100. Kitsap Bank’s rating shows that they have the least organic interest rate risk, as measured on the Interest Rate Risk Grader system, which tracks rate sensitive assets/rate sensitive liabilities, cumulative gap, earnings at risk, and economic value of equity. “With interest rates poised to rise from historic lows, the ability to quickly and accurately measure bank interest rate risk has never been more important,” stated Howard Lothrop, Managing Director and Founder of Echo Partners. “Our Interest Rate Risk Grader simplifies the process of evaluating interest rate risk, and its impact on bank profitability and safety.”
“Kitsap Bank is proud of our century-old tradition of sound, conservative financial management,” stated Jim Carmichael, President and Chief Executive Officer. “This rating exemplifies the strength and security of Kitsap Bank, and demonstrates our ability to move forward in the toughest economic environment we have seen in decades.”
Kitsap Bank is pleased to announce that Keith Kenworthy, Courier at the bank’s Port Ludlow Branch, has been named Employee of the 1st Quarter of 2010. Kenworthy was nominated for the honor by all four of Kitsap Bank’s Jefferson County branches, who recognized him for his positive attitude, dedication to the Kitsap Bank team and his willingness to go above and beyond his daily job duties.
Kitsap Bank has recognized several employees for reaching milestone anniversaries. We are very pleased to honor these individuals for their selfless dedication to our organization. Renae Ward, Administrative Assistant - 20 Years
Donna Stromberg, Customer Service Representative, Belfair - 20 Years
Dave Basse, Vice President/Lender, Loan Center - 25 Years
Linda Bruhn, Deposit Support, Customer Service - 20 Years
Employee of the 1st Quarter 2010: Keith Kenworthy, Courier - Port Ludlow
Employee of the 4th Quarter 2009: April Ihde, Senior Financial Service Representative - Silverdale
Employee of the 3rd Quarter 2009: Jennifer Gelsleichter, CSRII - East Bremerton Branch
Employee of the 2nd Quarter 2009: Lyndi Overlie, Payroll and Accounting Clerk - Administration
