Whidbey Island Bank in Coupeville, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Whidbey Island Bank in Coupeville, Washington (WA)
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Whidbey Island Bank - Overview

  • General
  • FDIC Certificate #: 18412
    Status: Active
    Federal Reserve ID: 63078
    Bank Holding Company (Regulatory Top Holder): Washington Banking Company (RSSDID: 2406174, Location: Oak Harbor, WA)
    Date Established: July 01, 1961
    WWW: http://www.wibank.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 32 (Domestic: 32, Interstate: No)
    OTS Docket #: 13312
    FDIC's unique #: 12318
    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 01, 1961
    Last Structure Change Effective Date: September 24, 2010
    Last Structure Change Process Date: September 27, 2010
    Last Data Update: September 27, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 401 N. Main, Coupeville, WA 98239
    County: Island
    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): Oak Harbor, WA (#36020)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Participated in FDIC Assisted Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $1,668.6 mil
    Equity capital: $189.2 mil
    Deposits held in domestic offices: $1,471.8 mil
    Return on assets (ROA): 1.00% ($16.7 mil)
    Quarterly return on assets: 1.06% ($17.7 mil)
    Return on Equity (ROE): 9.00% ($17.0 mil)
    Quarterly return on equity: 9.50% ($18.0 mil)
    Net income: $16.8 mil
    Quarterly Net income: $4.4 mil
    Pretax return on assets: 1.45% ($24,195.3 mil)
    Quarterly Pretax return on assets: 1.54% ($25,697.0 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
  • 450Total employees (full-time equivalent)
  • $1,668,639Total assets
  • $105,910Cash and due from depository institutions
  • $80,514Interest-bearing balances
  • $295,955Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $1,085,430Net loans & leases
  • $18,902Loan loss allowance
  • $0Trading account assets
  • $36,523Bank premises and fixed assets
  • $28,597Other real estate owned
  • $6,918Goodwill and other intangibles
  • $1,668,639Life insurance assets
  • $109,306All other assets
  • $1,479,449Total liabilities and capital
  • $1,471,788Total liabilities
  • $1,247,097Total deposits
  • $1,471,788Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $7,661Subordinated debt
  • $189,190All other liabilities
  • $189,190Total equity capital
  • $189,190Total bank equity capital
  • $0Perpetual preferred stock
  • $80,960Common stock
  • $0Surplus
  • $108,230Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $22,421Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $95,037Income earned, not collected on loans
  • $90Earning assets
  • $6,310Long-term assets (5+ years)
  • $1,461,899Average Assets, year-to-date
  • $449,701Average Assets, quarterly
  • $1,681,329Volatile liabilities
  • $1,672,802Insider loans
  • $1,004,579FHLB advances
  • $1,663,552Loans and leases held for sale
  • $17,513Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $179,180Tier 2 risk-based capital
  • $17,513Total risk weighted assets
  • $0Total unused commitments
  • $178,500Restructured Loans and leases
  • $4,178Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $89,777Total interest income
  • $9,494Total interest expense
  • $80,283Net interest income
  • $10,034Provision for loan and lease losses
  • $16,579Total noninterest income
  • $0Fiduciary activities
  • $3,818Service charges on deposit accounts
  • $0Trading account gains & fees
  • $12,761Additional noninterest income
  • $62,386Total noninterest expense
  • $27,105Salaries and employee benefits
  • $6,433Premises and equipment expense
  • $28,848Additional noninterest expense
  • $24,442Pre-tax net operating income
  • $0Securities gains (losses)
  • $7,593Applicable income taxes
  • $16,849Income before extraordinary items
  • $0Extraordinary gains - net
  • $16,849Net income attributable to bank
  • $0Net charge-offs
  • $16,849Cash dividends
  • $11,280Sale, conversion, retirement of capital stock, net
  • $4,900Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.19%Yield on earning assets
  • 0.65%Cost of funding earning assets
  • 5.54%Net interest margin
  • 1.14%Noninterest income to earning assets
  • 4.30%Noninterest expense to earning assets
  • 1.00%Net operating income to assets
  • 1.00%Return on assets (ROA)
  • 1.45%Pretax return on assets
  • 9.00%Return on equity (ROE)
  • 6.38%Retained earnings to average equity (YTD only)
  • 0.99%Net charge-offs to loans
  • 88.95%Credit loss provision to net charge-offs
  • 3.06%Efficiency ratio
  • 63,765Assets per employee
  • 3.71%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 29.08%Loss allowance to loans
  • 1.71%Loss allowance to noncurrent loans
  • 19.89%Noncurrent assets plus other real estate owned to assets
  • 7.41%Noncurrent loans to loans
  • 8.61%Net loans and leases to deposits
  • 73.75%Net loans and leases to core deposits
  • 78.08%Equity capital to assets
  • 11.34%Core capital (leverage) ratio
  • 10.77%Tier 1 risk-based capital ratio
  • 17.84%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $1,681,329Average earning assets
  • $187,147Average equity
  • $1,449,646Average loans

List of branches

  • 32 Washington Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    012318Whidbey Island Bank401 N. Main, Coupeville, WA 98239July 01, 1961Full Service Brick and Mortar
    1245344Oak Harbor Branch450 Sw Bayshore Drive, Oak Harbor, WA 98277Febuary 26, 1968Full Service Brick and Mortar
    2245345Clinton Branch8786 E State Hwy 525, Clinton, WA 98236April 20, 1970Full Service Brick and Mortar
    3245346Camano Island Branch165 E. Mcelroy Dr., Camano Island, WA 98282December 01, 1975Full Service Brick and Mortar
    4245347Midway Branch675 Ne Midway Blvd, Oak Harbor, WA 98277July 08, 1985Full Service Brick and Mortar
    6245349Langley Branch105 1st St, #101, Langley, WA 98260Febuary 22, 1993Full Service Brick and Mortar
    7245350Burlington Branch1800 South Burlington Boulevard, Burlington, WA 98233January 19, 1994Full Service Brick and Mortar
    8245351Bellingham Branch265 York Street, Bellingham, WA 98225March 03, 1997Full Service Brick and Mortar
    9245352Anacortes Branch2202 Commercial Ave., Anacortes, WA 98221March 30, 1998Full Service Brick and Mortar
    12245355Sedro Woolley Branch339 Ferry Street, Sedro-Woolley, WA 98284June 28, 1999Full Service Brick and Mortar
    13245356Freeland Branch5590 S Harbor Ave, Freeland, WA 98249October 01, 1998Full Service Brick and Mortar
    15334326Bakerview Branch2504 East Bakerview Road, Bellingham, WA 98226April 10, 2000Full Service Brick and Mortar
    16357005College Way Branch1700 Urban Ave, Mount Vernon, WA 98273January 24, 2000Full Service Brick and Mortar
    17419852Stanwood Branch26317 72nd Avenue Nw, Stanwood, WA 98292August 05, 2002Full Service Brick and Mortar
    19419854Fairhaven Branch1318 12th Street, Bellingham, WA 98225September 09, 2002Full Service Brick and Mortar
    20433916Friday Harbor Branch535 Market Street, Friday Harbor, WA 98250January 05, 2005Full Service Brick and Mortar
    22437088Burlington Lpo1266 Bouslog Road, Burlington, WA 98233Febuary 03, 2003Limited Service Loan Production
    23456861Northwest Avenue Branch920 West Bakerview Road, Bellingham, WA 98226October 23, 2006Full Service Brick and Mortar
    25492447Smokey Point Branch4220-172nd Street Northeast, Arlington, WA 98223January 05, 2009Full Service Brick and Mortar
    2614884North Lynnwood Branch14807 Hwy 99, Lynnwood, WA 98087April 15, 1974Full Service Brick and Mortar
    2711452North Seattle Branch20255 Ballinger Way, N.E., Seattle, WA 98155July 09, 1955Full Service Brick and Mortar
    28241771Shoreline Branch18840 8th Avenue, N.W., Seattle, WA 98177April 19, 1969Full Service Brick and Mortar
    29252992Lynnwood Branch19510 57th Pl, Lynnwood, WA 98036Febuary 04, 1980Full Service Brick and Mortar
    30252994Everett Branch5615 Evergreen Way, Everett, WA 98203March 08, 1982Full Service Brick and Mortar
    31252997North Bothell Branch20611 Bothell-Everett Hwy, Bothell, WA 98012October 01, 1985Full Service Brick and Mortar
    32252998Mill Creek Branch1504 132 St Se, Bothell, WA 98012November 04, 1991Full Service Brick and Mortar
    33252999Harbour Pointe Branch11832 Mukilteo Speedway, Mukilteo, WA 98275April 06, 1992Full Service Brick and Mortar
    35419398Marysville Office1031 State Avenue, Marysville, WA 98270July 01, 2002Full Service Brick and Mortar
    36441818Lake Stevens Office Branch629 State Route 9 Ne, Lake Stevens, WA 98258August 01, 2004Full Service Brick and Mortar
    37456863Mill Creek Branch5006 132nd Street Se, Snohomish, WA 98296November 27, 2006Full Service Brick and Mortar
    38520252Arlington Loan Center Branch16710 Smokey Point Boulevard, Suite 401, Arlington, WA 98223April 04, 2011
    39521633Everett Financial Center Branch15 Sw Everett Mall Way, Everett, WA 98204November 30, 2010Full Service Retail

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