In Patterson State Bank's 90th year, two win promotions

Staff Report
Blaze Landry has been promoted to vice president and senior credit officer, and Sunshine Rutledge has been promoted to assistant to the vice president of Patterson State Bank, Board Chairman Bill Marin announced recently.
Landry joined the bank in 21010 as a credit analyst. He was promoted to commercial-consumer loan underwriter in 2011 and to credit officer in 2012. Landry has been a Charenton resident most of his life and is a Louisiana State University graduate in finance.
Rutledge joined the bank in 1993 as a secretary and was moved to the loan servicing area of the bank after several years of employment. In 2006, she was promoted to loan administrative assistant, and was most recently promoted to consumer loan officer in 2011. As a consumer loan officer, Rutledge handles all types of consumer loans and also handles mortgage lending for the bank. Rutledge currently resides in Amelia, where she has lived most of her life.
Pete Lipari, PSB President, also has announced that the year 2014 was a record year for earnings for Patterson Bancshares Inc. and its subsidiary, Patterson State Bank. Lipari stated, “Net income for the year ended December 31, 2014 was $2,245,024, the most the Bank has earned in its 90-year history. The Bank’s net interest margin was 4.23 per cent and the bank’s ROAA was 1.04 per cent ranking the bank in the top 50 of Louisiana based Institutions.”
Lipari also indicated that the asset quality of the Bank continues to improve, as indicated by a 77.94 percent reduction in the 2014 Provision for Loan Losses of $150,000 compared to a $680,000 Provision for the year ended Dec. 31, 2013.
Marin and Lipari both acknowledged that 2015 is the 90th anniversary year of Patterson State Bank.
Marin stated, “It is with much pride that we get to enjoy this 90th anniversary year of PSB.
“The bank’s history of survival through tough economic times such as the Great Depression of 1929, World War II, the oil crash of the early ‘80s, and most recently the Great Recession of 2009, speak volumes on how the bank has been able to weather huge economic downturns.
“We also remember when things like drive-thru banking and 24 hour ATM service were new technologies. In 1978, PSB was first to offer ATMs here. Locally, we were the first to provide Internet banking in 1998.”
Patterson State Bank is a $217 million community bank that was founded in 1925, by E.F. Marin and Harry Williams, both of Patterson.
The bank’s home office is in Patterson along with full service branches in Berwick and Morgan City. In addition to the local locations are three loan production offices located in Lafayette, Metairie, and Mandeville.