Puget Sound Bank in Bellevue, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Puget Sound Bank - Overview

  • General
  • FDIC Certificate #: 57955
    Status: Active
    Federal Reserve ID: 3345944
    Date Established: April 11, 2005
    WWW: http://www.pugetsoundbank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 432602
    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: March 31, 2006
    Last Structure Change Process Date: July 06, 2010
    Last Data Update: July 06, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 10500 N.E. 8th Street, Bellevue, WA 98004
    County: King
    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: $250.4 mil
    Equity capital: $33.6 mil
    Deposits held in domestic offices: $212.9 mil
    Return on assets (ROA): 0.54% ($1.4 mil)
    Quarterly return on assets: 1.21% ($3.0 mil)
    Return on Equity (ROE): 4.24% ($1.4 mil)
    Quarterly return on equity: 8.98% ($3.1 mil)
    Net income: $1.3 mil
    Quarterly Net income: $0.7 mil
    Pretax return on assets: 0.81% ($2,028.5 mil)
    Quarterly Pretax return on assets: 1.80% ($4,507.8 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
  • 32Total employees (full-time equivalent)
  • $250,432Total assets
  • $25,783Cash and due from depository institutions
  • $16,334Interest-bearing balances
  • $28,966Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $189,938Net loans & leases
  • $3,406Loan loss allowance
  • $0Trading account assets
  • $241Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $250,432Life insurance assets
  • $5,504All other assets
  • $216,856Total liabilities and capital
  • $212,904Total liabilities
  • $150,825Total deposits
  • $212,904Interest-bearing deposits
  • $75Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $3,952Subordinated debt
  • $33,576All other liabilities
  • $33,576Total equity capital
  • $33,576Total bank equity capital
  • $9,886Perpetual preferred stock
  • $2,318Common stock
  • $21,138Surplus
  • $234Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,057Income earned, not collected on loans
  • $0Earning assets
  • $694Long-term assets (5+ years)
  • $235,238Average Assets, year-to-date
  • $32,892Average Assets, quarterly
  • $233,733Volatile liabilities
  • $247,163Insider loans
  • $220,417FHLB advances
  • $244,384Loans and leases held for sale
  • $2,692Unused loan commitments
  • $2,692Tier 1 (core) risk-based capital
  • $33,356Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $61,124Restructured Loans and leases
  • $5,938Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $10,743Total interest income
  • $1,126Total interest expense
  • $9,617Net interest income
  • $1,515Provision for loan and lease losses
  • $387Total noninterest income
  • $0Fiduciary activities
  • $172Service charges on deposit accounts
  • $0Trading account gains & fees
  • $215Additional noninterest income
  • $6,601Total noninterest expense
  • $3,811Salaries and employee benefits
  • $513Premises and equipment expense
  • $2,277Additional noninterest expense
  • $1,888Pre-tax net operating income
  • $0Securities gains (losses)
  • $624Applicable income taxes
  • $1,264Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,264Net income attributable to bank
  • $0Net charge-offs
  • $1,264Cash dividends
  • $1,273Sale, conversion, retirement of capital stock, net
  • $195Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.86%Yield on earning assets
  • 0.51%Cost of funding earning assets
  • 4.35%Net interest margin
  • 0.17%Noninterest income to earning assets
  • 2.98%Noninterest expense to earning assets
  • 0.54%Net operating income to assets
  • 0.54%Return on assets (ROA)
  • 0.81%Pretax return on assets
  • 4.24%Return on equity (ROE)
  • 3.59%Retained earnings to average equity (YTD only)
  • 0.71%Net charge-offs to loans
  • 119.01%Credit loss provision to net charge-offs
  • 2.67%Efficiency ratio
  • 65,984Assets per employee
  • 7.83%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 15.43%Loss allowance to loans
  • 1.76%Loss allowance to noncurrent loans
  • 111.42%Noncurrent assets plus other real estate owned to assets
  • 1.22%Noncurrent loans to loans
  • 1.58%Net loans and leases to deposits
  • 89.21%Net loans and leases to core deposits
  • 110.36%Equity capital to assets
  • 13.41%Core capital (leverage) ratio
  • 13.65%Tier 1 risk-based capital ratio
  • 15.13%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $233,733Average earning assets
  • $29,783Average equity
  • $221,207Average loans

List of branches

  • 1 Washington Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0432602Puget Sound Bank10500 N.E. 8th Street, Bellevue, WA 98004April 11, 2005Full Service Brick and Mortar

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