Business Bank in Burlington, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Business Bank in Burlington, Washington (WA)
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Business Bank - Overview

  • General
  • FDIC Certificate #: 57978
    Status: Active
    Federal Reserve ID: 3346268
    Date Established: April 11, 2005
    WWW: http://www.businessbankwa.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    FDIC's unique #: 433008
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: 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 11, 2005
    Last Structure Change Effective Date: May 03, 2011
    Last Structure Change Process Date: May 03, 2011
    Last Data Update: May 03, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1854 South Burlington Boulevard, Burlington, WA 98233
    County: Skagit
    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
    Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500)
    Core Based Statistical Area (CBSA): Mount Vernon-Anacortes, WA (#34580)
    CBSA Metro Statistical Area: Mount Vernon-Anacortes, WA (#34580)
  • Financial Summary
  • Total assets: $88.7 mil
    Equity capital: $5.2 mil
    Deposits held in domestic offices: $73.2 mil
    Return on assets (ROA): -2.48% (-$2.2 mil)
    Quarterly return on assets: -1.84% (-$1.6 mil)
    Return on Equity (ROE): -37.10% (-$1.9 mil)
    Quarterly return on equity: -29.87% (-$1.5 mil)
    Net income: -$2.1 mil
    Quarterly Net income: -$0.4 mil
    Pretax return on assets: -2.48% (-$2,199.5 mil)
    Quarterly Pretax return on assets: -1.84% (-$1,631.9 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
  • 26Total employees (full-time equivalent)
  • $88,688Total assets
  • $7,024Cash and due from depository institutions
  • $5,475Interest-bearing balances
  • $7,726Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $63,494Net loans & leases
  • $3,044Loan loss allowance
  • $0Trading account assets
  • $4,450Bank premises and fixed assets
  • $4,195Other real estate owned
  • $0Goodwill and other intangibles
  • $88,688Life insurance assets
  • $1,799All other assets
  • $83,460Total liabilities and capital
  • $73,181Total liabilities
  • $62,046Total deposits
  • $73,181Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $9,750Trading liabilities
  • $0Other borrowed funds
  • $529Subordinated debt
  • $5,228All other liabilities
  • $5,228Total equity capital
  • $5,228Total bank equity capital
  • $0Perpetual preferred stock
  • $20,125Common stock
  • $0Surplus
  • $-14,897Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,965Income earned, not collected on loans
  • $0Earning assets
  • $223Long-term assets (5+ years)
  • $76,695Average Assets, year-to-date
  • $14,194Average Assets, quarterly
  • $85,455Volatile liabilities
  • $87,596Insider loans
  • $69,842FHLB advances
  • $84,972Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $5,208Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $5,168Restructured Loans and leases
  • $1,483Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $3,431Total interest income
  • $1,083Total interest expense
  • $2,348Net interest income
  • $0Provision for loan and lease losses
  • -$397Total noninterest income
  • $0Fiduciary activities
  • $57Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$454Additional noninterest income
  • $4,073Total noninterest expense
  • $1,693Salaries and employee benefits
  • $358Premises and equipment expense
  • $2,022Additional noninterest expense
  • -$2,122Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • -$2,122Income before extraordinary items
  • $0Extraordinary gains - net
  • -$2,122Net income attributable to bank
  • $0Net charge-offs
  • -$2,122Cash dividends
  • $1,111Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.64%Yield on earning assets
  • 1.46%Cost of funding earning assets
  • 3.17%Net interest margin
  • -0.54%Noninterest income to earning assets
  • 5.50%Noninterest expense to earning assets
  • -2.48%Net operating income to assets
  • -2.48%Return on assets (ROA)
  • -2.48%Pretax return on assets
  • -37.10%Return on equity (ROE)
  • -37.10%Retained earnings to average equity (YTD only)
  • 1.76%Net charge-offs to loans
  • 0.00%Credit loss provision to net charge-offs
  • -1.91%Efficiency ratio
  • 208,765Assets per employee
  • 3.41%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.57%Loss allowance to noncurrent loans
  • 61.31%Noncurrent assets plus other real estate owned to assets
  • 10.33%Noncurrent loans to loans
  • 7.46%Net loans and leases to deposits
  • 86.76%Net loans and leases to core deposits
  • 87.37%Equity capital to assets
  • 5.89%Core capital (leverage) ratio
  • 6.13%Tier 1 risk-based capital ratio
  • 7.46%Total risk-based capital ratio
  • Memoranda
  • $9Average assets
  • $85,455Average earning assets
  • $5,720Average equity
  • $74,021Average loans

List of branches

  • 3 Washington Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0433008Business Bank1854 South Burlington Boulevard, Burlington, WA 98233April 11, 2005Full Service Brick and Mortar
    1453794Meridian Branch2417 Meridian Street, Suite 104, Bellingham, WA 98225July 24, 2006Full Service Brick and Mortar
    3465447Mount Vernon Office208 E Blackburn Rd Ste 100, Mount Vernon, WA 98273July 23, 2007Full Service Brick and Mortar

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