Washington Business Bank in Olympia, Washington (WA)



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Washington Business Bank
GeneralFDIC Certificate #: 57167
Status: Active
Federal Reserve ID: 3102893
Date Established: March 18, 2002
WWW: http://www.wabizbank.com
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 2 (Domestic: 2, Interstate: No)
FDIC's unique #: 358961
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: March 18, 2002
Last Structure Change Effective Date: March 28, 2011
Last Structure Change Process Date: March 28, 2011
Last Data Update: March 28, 2011
Data Source Date: April 05, 2012
LocationAddress: 2607 Martin Way East, Suite 211, Olympia, WA 98506
County: Thurston
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): Olympia, WA (#5910)
Consolidated Metropolitan Statistical Area (CMSA): Seattle-Tacoma-Bremerton, WA (#91)
Combined Statistical Area (CSA): Seattle-Tacoma-Olympia, WA (#500)
Core Based Statistical Area (CBSA): Olympia, WA (#36500)
CBSA Metro Statistical Area: Olympia, WA (#36500)
Financial SummaryTotal assets: $67.4 mil
Equity capital: $6.9 mil
Deposits held in domestic offices: $55.2 mil
Return on assets (ROA): 0.16% ($0.1 mil)
Quarterly return on assets: 0.07% ($0.0 mil)
Return on Equity (ROE): 1.67% ($0.1 mil)
Quarterly return on equity: 0.70% ($0.0 mil)
Net income: $0.1 mil
Quarterly Net income: $0.0 mil
Pretax return on assets: 0.25% ($168.5 mil)
Quarterly Pretax return on assets: 0.11% ($74.2 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)
Total employees (full-time equivalent)13
Total assets$67,412
Cash and due from depository institutions$1,425
Interest-bearing balances$536
Securities$3,114
Federal funds sold & reverse repurchase agreements$5,520
Net loans & leases$53,563
Loan loss allowance $976
Trading account assets$0
Bank premises and fixed assets$101
Other real estate owned$2,233
Goodwill and other intangibles$0
All other assets$1,456
Life insurance assets$67,412
Total liabilities and capital$60,557
Total liabilities$55,216
Total deposits$48,843
Interest-bearing deposits$55,216
Deposits held in domestic offices$77
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$5,300
Other borrowed funds $0
Subordinated debt $41
All other liabilities $6,855
Total equity capital$6,855
Total bank equity capital$6,855
Perpetual preferred stock$0
Common stock$8,788
Surplus$193
Undivided profits $-2,126
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $807
Earning assets $31
Long-term assets (5+ years) $155
Average Assets, year-to-date $62,733
Average Assets, quarterly $13,455
Volatile liabilities $68,650
Insider loans $66,567
FHLB advances $56,400
Loans and leases held for sale $65,103
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $6,394
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $2,005
Derivatives$1,845
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $3,744
Total interest expense $616
Net interest income $3,128
Provision for loan and lease losses $485
Total noninterest income $548
Fiduciary activities $0
Service charges on deposit accounts $77
Trading account gains & fees $0
Additional noninterest income $471
Total noninterest expense $3,020
Salaries and employee benefits $1,202
Premises and equipment expense $364
Additional noninterest expense $1,454
Pre-tax net operating income $171
Securities gains (losses) $0
Applicable income taxes $58
Income before extraordinary items $113
Extraordinary gains - net $0
Net income attributable to bank $113
Net charge-offs $0
Cash dividends $113
Sale, conversion, retirement of capital stock, net $542
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.94%
Cost of funding earning assets 0.98%
Net interest margin 4.97%
Noninterest income to earning assets 0.87%
Noninterest expense to earning assets 4.79%
Net operating income to assets 0.16%
Return on assets (ROA) 0.16%
Pretax return on assets 0.25%
Return on equity (ROE) 1.67%
Retained earnings to average equity (YTD only) 1.67%
Net charge-offs to loans 0.96%
Credit loss provision to net charge-offs 89.48%
Efficiency ratio1.21%
Assets per employee$82,155
Cash dividends to net income (YTD only)5.19%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 1.79%
Noncurrent assets plus other real estate owned to assets 120.94%
Noncurrent loans to loans 4.51%
Net loans and leases to deposits1.48%
Net loans and leases to core deposits 97.01%
Equity capital to assets 108.30%
Core capital (leverage) ratio 10.17%
Tier 1 risk-based capital ratio 9.82%
Total risk-based capital ratio 11.34%
Memoranda
Average assets$13
Average earning assets$68,650
Average equity $6,782
Average loans $62,996
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2 Washington Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
0358961Washington Business Bank2607 Martin Way East, Suite 211, Olympia, WA 98506March 18, 2002Full Service Brick and Mortar
1427189Loan Production Office1126 S. Gold Street, Suite 269, Centralia, WA 98531April 15, 2004Limited Service Loan Production
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