Puget Sound Bank Bucks the Trend; Continues to Show Strong Quarterly Growth

The Bank Announces a Profitable First Quarter, Continued Excellent Credit
Quality and Strong Loan and Deposit Growth
BELLEVUE, Wash.--(Business Wire)--
During a time when most banks are struggling to break even, Puget Sound Bank
(OTCBB:PUGB) today announced profitability, marking the sixteenth consecutive
quarter of no credit losses, non-performing loans or 30-day past due loans for
the four-year-old bank.

The results were highlighted by excellent credit quality and a strong balance
sheet, which was evidenced by a capital ratio of more than 15 percent--well
above the regulatory "well capitalized" levels of 10.0 percent. The balance
sheet also reflects strong liquidity with minimal reliance on brokered deposits.

Puget Sound Bank continues to experience strong loan and deposit growth:

* Deposits grew more than 45 percent to $142 million in the first quarter of
2009, as compared to $98 million in the first quarter of 2008.
* Loans grew 26 percent to $139 million in the first quarter of 2009, as
compared to $110 million in the first quarter of 2008.
* Total assets grew 34 percent to $168 million in the first quarter of 2009, as
compared to $125 million during the same period of 2008.

"This is an extraordinary accomplishment considering the many credit problems
that regional and national banks are currently experiencing," said Jim Mitchell,
president and chief executive officer of Puget Sound Bank.

Net income was $6,413 for the first quarter of 2009 compared to $80,826 in the
first quarter of the previous year. This reduction was the result of increasing
the loan loss provision from 1.35 percent to 1.45 percent of total loans as a
conservative way to cushion the bank from any effects of the current economic
downturn. This additional non-cash charge added approximately $140,000 in
expenses to the quarter.

"We attribute this strong growth to our experienced business bankers and the
flight to quality that Puget Sound Bank enjoyed due to affects of the economic
downturn on many of the banks in the area," Mitchell said.

Puget Sound Bank`s stock is listed on the OTC Bulletin Board under the symbol of
PUGB.OB. Detailed balance sheet and income statements for the first quarter and
the 2008 annual report can be found at www.pugetsoundbank.com under the Investor
Relations and News section.

About Puget Sound Bank

Bellevue, Washington-based Puget Sound Bank (PUGB.OB) was founded to meet the
specialized needs of small and medium sized businesses, commercial real estate
projects, professionals and individuals seeking a higher level of service in the
Puget Sound region. Staffed by the most experienced, customer-oriented banking
professionals in the region, Puget Sound Bank offers a full range of competitive
financial products with superior customer service and a consultative/
partnership approach to its clients. Puget Sound Bank provides online banking at
www.pugetsoundbank.com and has access to a large branch network in Washington.
It can also provide remote capture technology, which allows its clients to make
deposits from their offices. The bank is located at 10500 NE 8th Street, Suite
1800, in Bellevue, Washington. For more information, please call 425-455-2400.

Media Contact:
The Fearey Group for Puget Sound Bank
Kate Miller, 206-343-1543
Kmiller@FeareyGroup.com

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