Commencement Bank finished 2009 with a net profit of $55,000, marking its first full year of profitability.
Total loans reached $91.4 million. Total deposits were $86.4 million and total assets were $110.8 million.
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Feb. 9, 2010 at 7:59am Commencement Bank posts first profitable year"The bank currently has no non-performing assets, has maintained a diversified loan portfolio and remains highly capitalized," said Hal Russell, president and CEO. The downtown Tacoma bank, which opened during December 2006, has 17 employees. Plenty more in the Archives The comments function of the Business Examiner community is meant to encourage conversations and spark ideas about business issues in the South Sound. The feature is free and open to members of the public who register basic log in information. Comments should be concise, on topic and avoid attacks, profanity or abusive language or content. Comments that are deemed to violate this policy will be removed. |
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