Our Year in Review

Olympic Bancorp is the holding company for Kitsap Bank, a Washington State chartered full-service commercial bank founded in 1908.

A Message From Our CEO

Steve Politakis, Chief Executive Officer

2020 was unlike any other year in our lifetime. However, as an essential business, Kitsap Bank remained open to serve customers despite the ongoing health crisis. Our long-held commitment to continuously improve and innovate allowed us to leverage our existing robust technology infrastructure to safely deliver our products and services during the pandemic.


The impact of the pandemic on the local community was immediate and significant. When the Small Business Administration announced the Paycheck Protection Program (PPP), we refocused bank-wide efforts in preparation to process applications for the much needed assistance. I am proud to announce that we assisted nearly 900 small businesses in securing PPP financing, which ultimately helped retain over 10,000 jobs in our communities.

In keeping with our long-term strategy to prudently grow Kitsap Bank both organically and strategically, the decision was made to issue Subordinated Debt at the Holding Company that can be down-streamed to the Bank where it becomes capital. In anticipation of this offering, the Bank received an Investment Grade rating from the Kroll Bond Rating Agency, a further testament to the financial strength of our organization. The Bank continues to maintain excellent credit quality in our investment and loan portfolios and our core deposit base has grown significantly, all of which provide the liquidity to grow earning assets.

I am very proud of our Kitsap Bank employees who continue to demonstrate resiliency, determination, and a commitment to serving our clients and communities. We were able to maintain, and even expand, some of our beloved traditions at Kitsap Bank in 2020, including our edg3 FUND small business competition and Community Connections corporate giving program that supports over 100 non-profits annually.

The bank remains, safe, secure and positioned for the long-term. Thank you for your continued support and trust.