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

Seattle Bank - Overview

  • General
  • FDIC Certificate #: 35139
    Status: Active
    Federal Reserve ID: 2838207
    Date Established: August 02, 1999
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 5 (Domestic: 5, Interstate: No)
    FDIC's unique #: 75131
    Numeric code: 41
    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: August 02, 1999
    Last Structure Change Effective Date: December 28, 2011
    Last Structure Change Process Date: December 28, 2011
    Last Data Update: December 28, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 600 University Street, Suite 1850, Seattle, WA 98101
    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)
  • Financial Summary
  • Total assets: $314.4 mil
    Equity capital: $35.9 mil
    Deposits held in domestic offices: $272.5 mil
    Return on assets (ROA): -8.27% (-$26.0 mil)
    Quarterly return on assets: -3.39% (-$10.6 mil)
    Return on Equity (ROE): -90.93% (-$32.7 mil)
    Quarterly return on equity: -29.95% (-$10.8 mil)
    Net income: -$31.5 mil
    Quarterly Net income: -$2.8 mil
    Pretax return on assets: -8.27% (-$25,997.5 mil)
    Quarterly Pretax return on assets: -3.39% (-$10,656.8 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
  • 68Total employees (full-time equivalent)
  • $314,359Total assets
  • $98,998Cash and due from depository institutions
  • $96,499Interest-bearing balances
  • $2,594Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $165,399Net loans & leases
  • $14,700Loan loss allowance
  • $0Trading account assets
  • $893Bank premises and fixed assets
  • $40,122Other real estate owned
  • $30Goodwill and other intangibles
  • $314,359Life insurance assets
  • $6,323All other assets
  • $278,489Total liabilities and capital
  • $272,503Total liabilities
  • $257,284Total deposits
  • $272,503Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $2,960Trading liabilities
  • $0Other borrowed funds
  • $3,026Subordinated debt
  • $35,870All other liabilities
  • $35,870Total equity capital
  • $35,870Total bank equity capital
  • $0Perpetual preferred stock
  • $81,410Common stock
  • $0Surplus
  • $-45,540Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $354Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $26,728Income earned, not collected on loans
  • $605Earning assets
  • $628Long-term assets (5+ years)
  • $264,492Average Assets, year-to-date
  • $13,518Average Assets, quarterly
  • $381,359Volatile liabilities
  • $328,998Insider loans
  • $190,435FHLB advances
  • $330,163Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $35,695Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,446Restructured Loans and leases
  • $3,000Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $11,633Total interest income
  • $5,892Total interest expense
  • $5,741Net interest income
  • $8,193Provision for loan and lease losses
  • -$8,021Total noninterest income
  • $0Fiduciary activities
  • $89Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$8,110Additional noninterest income
  • $21,051Total noninterest expense
  • $7,709Salaries and employee benefits
  • $1,774Premises and equipment expense
  • $11,568Additional noninterest expense
  • -$31,524Pre-tax net operating income
  • $0Securities gains (losses)
  • $0Applicable income taxes
  • -$31,524Income before extraordinary items
  • $0Extraordinary gains - net
  • -$31,524Net income attributable to bank
  • $0Net charge-offs
  • -$31,524Cash dividends
  • $3,951Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.56%Yield on earning assets
  • 1.81%Cost of funding earning assets
  • 1.76%Net interest margin
  • -2.46%Noninterest income to earning assets
  • 6.45%Noninterest expense to earning assets
  • -8.27%Net operating income to assets
  • -8.27%Return on assets (ROA)
  • -8.27%Pretax return on assets
  • -90.93%Return on equity (ROE)
  • -90.93%Retained earnings to average equity (YTD only)
  • 1.53%Net charge-offs to loans
  • 207.37%Credit loss provision to net charge-offs
  • -5.91%Efficiency ratio
  • -923,289Assets per employee
  • 4.62%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 8.16%Loss allowance to noncurrent loans
  • 55.00%Noncurrent assets plus other real estate owned to assets
  • 21.27%Noncurrent loans to loans
  • 14.84%Net loans and leases to deposits
  • 60.70%Net loans and leases to core deposits
  • 81.77%Equity capital to assets
  • 11.41%Core capital (leverage) ratio
  • 10.81%Tier 1 risk-based capital ratio
  • 18.74%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $381,359Average earning assets
  • $34,668Average equity
  • $326,382Average loans

List of branches

  • 5 Washington Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    075131Seattle Bank600 University Street, Suite 1850, Seattle, WA 98101August 02, 1999Full Service Brick and Mortar
    2290896Tacoma Branch4916 Center St #g, Tacoma, WA 98409August 02, 1999Full Service Brick and Mortar
    6290900South Center BranchS Center Pkwy, Tukwila, WA 98188August 02, 1999Full Service Brick and Mortar
    11448920Wallingford Office1227 N. Allen Place, Seattle, WA 98103Febuary 17, 2006Full Service Brick and Mortar
    12454683Bellevue Branch11120 Ne 33rd Place, Suite 200, Bellevue, WA 98004August 07, 2006Full Service Brick and Mortar

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