1st Security Bank of Washington in Mountlake Terrace, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • 1st Security Bank of Washington in Mountlake Terrace, Washington (WA)
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1st Security Bank of Washington - Overview

  • General
  • FDIC Certificate #: 57633
    Status: Active
    Federal Reserve ID: 1018927
    Date Established: April 01, 2004
    WWW: http://www.fsbwa.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 7 (Domestic: 7, Interstate: No)
    FDIC's unique #: 418874
    Numeric code: 42
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: April 01, 2004
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 6920 220th Street Sw, Suite 300, Mountlake Terrace, WA 98043
    County: Snohomish
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Seattle
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Seattle-Bellevue-Everett, WA (#7600)
    Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91)
    Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500)
    Core Based Statistical Area (CBSA): Seattle-Tacoma-Bellevue, WA (#42660)
    CBSA Metro Statistical Area: Seattle-Tacoma-Bellevue, WA (#42660)
    Core Based Statistical Division: Seattle-Bellevue-Everett, WA (#42644)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $283.8 mil
    Equity capital: $26.8 mil
    Deposits held in domestic offices: $247.0 mil
    Return on assets (ROA): 0.55% ($1.6 mil)
    Quarterly return on assets: 0.44% ($1.2 mil)
    Return on Equity (ROE): 5.98% ($1.6 mil)
    Quarterly return on equity: 4.70% ($1.3 mil)
    Net income: $1.5 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.55% ($1,560.9 mil)
    Quarterly Pretax return on assets: 0.44% ($1,248.7 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 86Total employees (full-time equivalent)
  • $283,794Total assets
  • $19,253Cash and due from depository institutions
  • $16,897Interest-bearing balances
  • $26,899Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $216,202Net loans & leases
  • $4,345Loan loss allowance
  • $0Trading account assets
  • $9,688Bank premises and fixed assets
  • $4,589Other real estate owned
  • $200Goodwill and other intangibles
  • $283,794Life insurance assets
  • $6,963All other assets
  • $257,027Total liabilities and capital
  • $246,955Total liabilities
  • $227,163Total deposits
  • $246,955Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $8,900Trading liabilities
  • $0Other borrowed funds
  • $1,172Subordinated debt
  • $26,767All other liabilities
  • $26,767Total equity capital
  • $26,767Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $26,767Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,227Income earned, not collected on loans
  • $0Earning assets
  • $1,688Long-term assets (5+ years)
  • $259,998Average Assets, year-to-date
  • $135,464Average Assets, quarterly
  • $282,453Volatile liabilities
  • $284,717Insider loans
  • $239,468FHLB advances
  • $284,125Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $26,431Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $57,486Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $16,642Total interest income
  • $2,996Total interest expense
  • $13,646Net interest income
  • $2,369Provision for loan and lease losses
  • $1,204Total noninterest income
  • $0Fiduciary activities
  • $908Service charges on deposit accounts
  • $0Trading account gains & fees
  • $296Additional noninterest income
  • $10,965Total noninterest expense
  • $5,565Salaries and employee benefits
  • $1,378Premises and equipment expense
  • $4,022Additional noninterest expense
  • $1,516Pre-tax net operating income
  • $29Securities gains (losses)
  • $0Applicable income taxes
  • $1,545Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,545Net income attributable to bank
  • $0Net charge-offs
  • $1,545Cash dividends
  • $3,929Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.43%Yield on earning assets
  • 1.16%Cost of funding earning assets
  • 5.27%Net interest margin
  • 0.47%Noninterest income to earning assets
  • 4.23%Noninterest expense to earning assets
  • 0.54%Net operating income to assets
  • 0.55%Return on assets (ROA)
  • 0.55%Pretax return on assets
  • 5.98%Return on equity (ROE)
  • 5.98%Retained earnings to average equity (YTD only)
  • 1.77%Net charge-offs to loans
  • 60.30%Credit loss provision to net charge-offs
  • 0.99%Efficiency ratio
  • 73,838Assets per employee
  • 3.30%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.97%Loss allowance to noncurrent loans
  • 195.11%Noncurrent assets plus other real estate owned to assets
  • 2.40%Noncurrent loans to loans
  • 1.01%Net loans and leases to deposits
  • 87.55%Net loans and leases to core deposits
  • 98.32%Equity capital to assets
  • 9.43%Core capital (leverage) ratio
  • 9.30%Tier 1 risk-based capital ratio
  • 11.04%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $282,453Average earning assets
  • $25,842Average equity
  • $258,917Average loans

List of branches

  • 7 Washington Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    04188741st Security Bank Of Washington6920 220th Street Sw, Suite 300, Mountlake Terrace, WA 98043April 01, 2004Full Service Brick and Mortar
    1427190Lynnwood19002 33rd Ave West, Lynnwood, WA 98036April 01, 2004Full Service Brick and Mortar
    2427191Edmonds620 Edmonds Way, Edmonds, WA 98020April 01, 2004Full Service Brick and Mortar
    4427193Overlake Branch14808 Ne 24th Street Suite D, Redmond, WA 98052April 01, 2004Full Service Brick and Mortar
    9427198Canyon Park22020 17th Ave Se #100, Bothell, WA 98021April 01, 2004Full Service Brick and Mortar
    10427199Poulsbo21650 Nw Market Place, Poulsbo, WA 98370April 01, 2004Full Service Brick and Mortar
    14427203Puyallup-Downtown307 W Stewart Street, Puyallup, WA 98371April 01, 2004Full Service Brick and Mortar

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