FDIC Certificate #: 33183 Status: Active Federal Reserve ID: 1494482 Date Established: November 01, 1990 Trust Powers Granted: No Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 9429 FDIC's unique #: 46420 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: Yes Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: November 01, 1990 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: 6113 And 6115 Mt. Tacoma Drive, S.W., Tacoma, WA 98499 County: Pierce 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): Tacoma, WA (#8200) 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: Tacoma, WA (#45104)
History of Changes
Merge BIF and SAIF Funds into DIF
Financial Summary
Total assets: $51.9 mil Equity capital: $4.0 mil Deposits held in domestic offices: $47.9 mil Return on assets (ROA): 0.78% ($0.4 mil) Quarterly return on assets: -0.26% (-$0.1 mil) Return on Equity (ROE): 10.24% ($0.4 mil) Quarterly return on equity: -3.49% (-$0.1 mil) Net income: $0.4 mil Quarterly Net income: -$0.0 mil Pretax return on assets: 0.78% ($404.9 mil) Quarterly Pretax return on assets: -0.26% (-$135.0 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
6Total employees (full-time equivalent)
$51,914Total assets
$11,800Cash and due from depository institutions
$10,979Interest-bearing balances
$0Securities
$0Federal funds sold & reverse repurchase agreements
$37,045Net loans & leases
$592Loan loss allowance
$0Trading account assets
$84Bank premises and fixed assets
$170Other real estate owned
$0Goodwill and other intangibles
$51,914Life insurance assets
$2,815All other assets
$47,918Total liabilities and capital
$47,851Total liabilities
$40,120Total deposits
$47,851Interest-bearing deposits
$88Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$67Subordinated debt
$3,996All other liabilities
$3,996Total equity capital
$3,996Total bank equity capital
$0Perpetual preferred stock
$247Common stock
$2,189Surplus
$1,560Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$472Income earned, not collected on loans
$0Earning assets
$149Long-term assets (5+ years)
$48,024Average Assets, year-to-date
$0Average Assets, quarterly
$51,340Volatile liabilities
$53,576Insider loans
$34,286FHLB advances
$51,503Loans and leases held for sale
$2,304Unused loan commitments
$2,304Tier 1 (core) risk-based capital
$3,996Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$3,633Restructured Loans and leases
$867Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$2,621Total interest income
$445Total interest expense
$2,176Net interest income
$320Provision for loan and lease losses
$166Total noninterest income
$0Fiduciary activities
$4Service charges on deposit accounts
$0Trading account gains & fees
$162Additional noninterest income
$1,619Total noninterest expense
$739Salaries and employee benefits
$108Premises and equipment expense
$772Additional noninterest expense
$403Pre-tax net operating income
$0Securities gains (losses)
$0Applicable income taxes
$403Income before extraordinary items
$0Extraordinary gains - net
$403Net income attributable to bank
$0Net charge-offs
$403Cash dividends
$361Sale, conversion, retirement of capital stock, net
$149Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.53%Yield on earning assets
0.94%Cost of funding earning assets
4.59%Net interest margin
0.35%Noninterest income to earning assets
3.42%Noninterest expense to earning assets
0.78%Net operating income to assets
0.78%Return on assets (ROA)
0.78%Pretax return on assets
10.24%Return on equity (ROE)
6.45%Retained earnings to average equity (YTD only)
0.91%Net charge-offs to loans
88.64%Credit loss provision to net charge-offs
2.00%Efficiency ratio
69,129Assets per employee
8.65%Cash dividends to net income (YTD only)
Condition Ratios (%)
36.97%Loss allowance to loans
1.57%Loss allowance to noncurrent loans
125.42%Noncurrent assets plus other real estate owned to assets
1.24%Noncurrent loans to loans
1.25%Net loans and leases to deposits
77.42%Net loans and leases to core deposits
88.12%Equity capital to assets
7.70%Core capital (leverage) ratio
7.76%Tier 1 risk-based capital ratio
11.65%Total risk-based capital ratio
Memoranda
$13Average assets
$51,340Average earning assets
$3,936Average equity
$47,397Average loans
List of branches
1 Washington Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
46420
Sound Banking Company
6113 And 6115 Mt. Tacoma Drive, S.W., Tacoma, WA 98499
November 01, 1990
Full Service Brick and Mortar
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