Washington Business Bank downtown site pushes profits

Washington Business Bank, which moved to downtown Olympia a year ago, has reaped the benefits of the added exposure, according to year-end financial results released by the privately held bank.

Results from 2015 show:

▪ Fourth-quarter profit rose 64 percent to $179,000 from $109,000 during the same period a year ago.

▪ Total loans for the year rose nearly 4 percent to $59.8 million from $57.6 million.

▪ Balances in business checking accounts rose nearly 40 percent.

“The outstanding efforts of our team have continued to help us grow in both loans and new business accounts,” President and Chief Executive Jon Jones said in a statement.

This story was originally published January 26, 2016 at 12:37 PM with the headline "Washington Business Bank downtown site pushes profits."