The Bank of Washington in Lynnwood, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Bank of Washington - Overview

  • General
  • FDIC Certificate #: 34214
    Status: Active
    Federal Reserve ID: 2485544
    Bank Holding Company (Regulatory Top Holder): Washington Bancorp, Inc. (RSSDID: 3348936, Location: Lynnwood, WA)
    Date Established: July 29, 1996
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 14623
    FDIC's unique #: 56972
    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: July 29, 1996
    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: 5901 196th S. W., Lynnwood, WA 98036
    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: $143.0 mil
    Equity capital: $16.2 mil
    Deposits held in domestic offices: $121.6 mil
    Return on assets (ROA): -0.52% (-$0.7 mil)
    Quarterly return on assets: -2.28% (-$3.3 mil)
    Return on Equity (ROE): -4.75% (-$0.8 mil)
    Quarterly return on equity: -19.90% (-$3.2 mil)
    Net income: -$0.8 mil
    Quarterly Net income: -$0.8 mil
    Pretax return on assets: -0.45% (-$643.6 mil)
    Quarterly Pretax return on assets: -1.98% (-$2,831.9 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
  • 42Total employees (full-time equivalent)
  • $143,025Total assets
  • $14,200Cash and due from depository institutions
  • $13,524Interest-bearing balances
  • $19,830Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $85,057Net loans & leases
  • $2,667Loan loss allowance
  • $0Trading account assets
  • $6,260Bank premises and fixed assets
  • $12,400Other real estate owned
  • $0Goodwill and other intangibles
  • $143,025Life insurance assets
  • $5,278All other assets
  • $126,808Total liabilities and capital
  • $121,563Total liabilities
  • $103,913Total deposits
  • $121,563Interest-bearing deposits
  • $98Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $4,383Trading liabilities
  • $0Other borrowed funds
  • $862Subordinated debt
  • $16,217All other liabilities
  • $16,217Total equity capital
  • $16,217Total bank equity capital
  • $0Perpetual preferred stock
  • $15,022Common stock
  • $0Surplus
  • $1,195Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,673Income earned, not collected on loans
  • $0Earning assets
  • $418Long-term assets (5+ years)
  • $118,411Average Assets, year-to-date
  • $28,293Average Assets, quarterly
  • $152,604Volatile liabilities
  • $145,562Insider loans
  • $108,928FHLB advances
  • $146,782Loans and leases held for sale
  • $3,290Unused loan commitments
  • $3,290Tier 1 (core) risk-based capital
  • $16,206Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,935Restructured Loans and leases
  • $4,549Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,154Total interest income
  • $1,443Total interest expense
  • $4,711Net interest income
  • $700Provision for loan and lease losses
  • $634Total noninterest income
  • $0Fiduciary activities
  • $150Service charges on deposit accounts
  • $0Trading account gains & fees
  • $484Additional noninterest income
  • $5,338Total noninterest expense
  • $2,554Salaries and employee benefits
  • $683Premises and equipment expense
  • $2,101Additional noninterest expense
  • -$693Pre-tax net operating income
  • $3Securities gains (losses)
  • $108Applicable income taxes
  • -$798Income before extraordinary items
  • $0Extraordinary gains - net
  • -$798Net income attributable to bank
  • $0Net charge-offs
  • -$798Cash dividends
  • $1,035Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.85%Yield on earning assets
  • 1.14%Cost of funding earning assets
  • 3.72%Net interest margin
  • 0.50%Noninterest income to earning assets
  • 4.21%Noninterest expense to earning assets
  • -0.52%Net operating income to assets
  • -0.52%Return on assets (ROA)
  • -0.45%Pretax return on assets
  • -4.75%Return on equity (ROE)
  • -4.75%Retained earnings to average equity (YTD only)
  • 1.04%Net charge-offs to loans
  • 67.63%Credit loss provision to net charge-offs
  • 0.01%Efficiency ratio
  • 99,869Assets per employee
  • 3.41%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.04%Loss allowance to noncurrent loans
  • 30.75%Noncurrent assets plus other real estate owned to assets
  • 14.73%Noncurrent loans to loans
  • 9.89%Net loans and leases to deposits
  • 69.97%Net loans and leases to core deposits
  • 70.76%Equity capital to assets
  • 11.34%Core capital (leverage) ratio
  • 11.04%Tier 1 risk-based capital ratio
  • 14.88%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $152,604Average earning assets
  • $16,785Average equity
  • $126,804Average loans

List of branches

  • 6 Washington Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    056972The Bank Of Washington5901 196th S. W., Lynnwood, WA 98036July 29, 1996Full Service Brick and Mortar
    1290474Mukilteo Branch9901 Harbour Place, Mukilteo, WA 98275June 04, 1998Full Service Brick and Mortar
    2357324Edmonds Branch202 Fifth Avenue S., Edmonds, WA 98020March 06, 2000Full Service Brick and Mortar
    4432840Redmond Branch16424 Ne 79th, Redmond, WA 98052November 01, 2004Full Service Brick and Mortar
    5456868Issaquah Branch1250 Nw Mall Street, Issaquah, WA 98027November 13, 2006Full Service Brick and Mortar
    6493447Everett Branch33 Se Everett Mall Way, Everett, WA 98208March 15, 2009Full Service Brick and Mortar

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