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Kitsap Bank makes national honor roll | Business brief
Kitsap Bank has been named to the Echo Partners Interest Rate Risk Honor Roll, with a score of “100,” the highest score possible. Of the 7,104 banks graded nationwide, only 191 rated a score of 100. Kitsap Bank’s rating shows it has the least organic interest rate risk as measured on the Interest Rate Risk Grader system, which tracks rate-sensitive assets and rate-sensitive liabilities, cumulative gap, earnings at risk, and economic value of equity.
“Kitsap Bank is proud of our century-old tradition of sound, conservative financial management,” said Jim Carmichael, president and chief executive officer of Kitsap Bank. “This rating exemplifies the strength and security of Kitsap Bank, and demonstrates our ability to move forward in the toughest economic environment we have seen in decades.”
Kitsap Bank, headquartered in Port Orchard, was founded in 1908. It operates 24 locations throughout Western Washington.