Kitsap Bank Annual Report

CEO's Message

Steve Politakis

Olympic Bancorp President
& Chief Executive Officer

Financials

Total Assets

$1,130,689,000

Net Income
$11,603,000
Total Deposits
$1,000,987,000
Total Loans
$622,829,000

Did you know?

Kitsap Bank achieved the
highest profits in its
108-year history in 2016

It was a record year for Olympic Bancorp, and its wholly-owned subsidiary, Kitsap Bank.

The Bank experienced solid loan growth and the highest profits in the organization's history. For the fourth year in a row, the Bank experienced double digit returns. Additionally, the Bank crossed over $1 Billion in Deposits—evidence of the community’s continued trust in the long-term stability of the organization.

Download Income Statement & Balance Sheet

Growth

Bellevue Commercial Banking Center

Committed to continued growth outside of its legacy market, Kitsap Bank brought on a team of experienced lenders, more than doubling our presence in this robust and growing market.

Did you know?

Kitsap Bank’s Bellevue office
houses its SBA Loan Team—
a Preferred Lender of the U.S.
Small Business Administration.

Community

On a Mission to #causegood

The Coffee Oasis is on a mission to change the world for homeless youth through programs supported by its four sustainable coffee businesses in Kitsap County. This unique non-profit offers street outreach, mentoring, job training, a youth shelter and youth centers, and more to homeless and street-oriented youth.

Kitsap Bank was pleased to help Coffee Oasis renovate their new Bremerton location in 2016 with a $10,000 donation. A replacement for the original 6th & Venita restaurant, the new Coffee Oasis location at 301 Naval Avenue has been renovated to include a drive-thru and café. Through this new facility, Coffee Oasis has continued to provide services to homeless and low-to-moderate income youth in the Kitsap area, including providing job training through the restaurant.

Coffee Oasis was one of over 100 non-profits that Kitsap Bank supported in 2016. The bank donated nearly $400,000 to organizations throughout its footprint. Employees continue to be incredibly generous with their time, spending 3,528 hours volunteering with 142 area non-profits.

How Are You Causing Good In Your Community? Tell Us Your Story. #causegood

Supported Non-Profits

Did you know?

53 humans and 2 canines
braved the rain in 2016 to
Walk For a Cure for Diabetes
with Team Kitsap Bank.

Did you know?

Kitsap Bank employees spent
3,528 hours volunteering for
142 area non-profits.

edg3 Fund

2016 marked Kitsap Bank’s third year with its edg3 FUND small business competition.

As part of the Bank's commitment to small businesses and sustainability, the competition was established to provide funding for entrepreneurs dedicated to growing their community in three ways—economically, socially and environmentally. After a public vote and private judging helped narrow the field of applicants, five finalists vied for the $20,000 grand prize in front of a live audience and a panel of independent judges.

Ultimately, the judges selected BridgeCare Finance for the $20,000 prize. BridgeCare Finance offers services to help break down the cost barriers to high quality childcare for working families. They offer short term lines of credit, which can reduce a family’s monthly childcare bill by up to 50%.

New to the 2016 competition was the Community edg3 Award, a $5,000 prize given to one edg3 FUND Semifinalist whose company best embodies the spirit of community. The Smithshyre, an organic poultry farm in Poulsbo, was selected as the first winner of this award.

Tune Into The 2017 Competition

2016 edg3 FUND Finalists:

Did you know?

2015 edg3 FUND Finalist,
Combat Flip Flops, appeared on
Shark Tank in 2016—where they
secured a deal with three of the sharks!

Scholarships

From gifts for our employees’ children’s educational efforts, to partnering with local institutions, we are committed to encouraging economic growth and stability through education.

In 2016, Kitsap Bank donated $25,000 to establish two renewable $2,500 scholarships for students attending Western Washington University’s Center at Olympic College Poulsbo. Learn More

Scholarships Offered By Kitsap Bank