Coastal Community Bank is headquartered in Everett and is the 24th largest bank in the state of Washington. It is also the 1,572nd largest bank in the nation. It was established in 1997 and as of September of 2013, it had grown to 108 employees at 10 locations. Coastal Community Bank has a A+ health rating.
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Concerned That Coastal Employs The Former Frontierbank Executives Now Being Sued By FDIC For 46Million.
Just a little worried that the same bank executives who failed Frontier Bank & are now being sued for 46million by the FDIC are working & have been working for Coastal Bank since they were fired from Frontier.
Maybe Coastal is a good bank but so was Frontier until these executives ignored the FDIC examiners concerns & kept lending the way they wanted to.
This caused the bank to fail & hundreds to lose their life savings, retirement, jobs, houses, etc.
Why would Coastal hire and keep on employees like this?
Can we be assured the same won't happen at Coastal?
Data for Q3 2013
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2013 Coastal Community Bank had $2.56 million in non-current loans and owned real-estate with $44.72 million in equity and loan loss allowances on hand to cover it. This gives Coastal Community Bank a Texas Ratio of 5.72% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Coastal Community Bank decreased dramatically from 11.83% as of September 30, 2012 to 5.72% as of September 30, 2013, resulting in a positive change of 51.62%.This indicates that the balance sheet and financial strength for Coastal Community Bank has improved dramatically in recent periods.
Deposit Growth
In the past year, Coastal Community Bank has increased its total deposits by $50.51 million, resulting in 15.61% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Coastal Community Bank has shown is excellent.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Coastal Community Bank has $422.55 million in assets with $44.72 million in equity, resulting in a capitalization level of 10.58%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 34403 |
| Year Established | 1997 |
| Employees | 108 |
| Primary Regulator | FED |
| Assets and Liabilities | |
|---|---|
| Assets | $422.55 million |
| Loans | $335.65 million |
| Deposits | $374.07 million |
| Equity Capital | $40.71 million |
| Loan Loss Allowance | $4.01 million |
| Unbacked Noncurrent Loans | $569,000 |
| Real Estate Owned | $1.99 million |
| Historic Data - September 2012 | |
|---|---|
| Assets | $365.17 million |
| Equity Capital | $33.78 million |
| Loan Loss Allowance | $3.68 million |
| Unbacked Noncurrent Loans | $569,000 |
| Real Estate Owned | $3.23 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.58% |
| Return on Assets | 0.52% |
| Return on Equity | 5.3% |
| Interest Income | $13.75 million |
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Coastal Community Bank Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | - | - | Regular Savings |
Coastal Community Bank Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.45% | $250k | - | Great Rate Money Market | |
| 0.35% | $90k | - | Money Market |
Coastal Community Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.50% | - | $15k | Green Rewards Checking | |
| 0.15% | - | - | Interest Checking | |
| 0.15% | - | - | Business Interest Checking | |
| 0.15% | - | - | Individual Attorney | |
| 0.15% | - | - | Client Trust | |
| 0.05% | - | - | Green Rewards Checking |
| Coastal Community Bank Locations | ||
|---|---|---|
| Silver Lake Branch | 10520 19th Avenue Se | Everett, WA 98208 |
| Darrington Branch | 1210 Sr530 Ne | Darrington, WA 98241 |
| Smokey Point | 16419 Smokey Point Boulevard | Arlington, WA 98223 |
| South Whidbey Branch | 1737 Main Street | Freeland, WA 98249 |
| Monroe Branch | 19351 Hwy 2 | Monroe, WA 98272 |
| Coastal Community Bank | 2817 Colby Avenue | Everett, WA 98201 |
| Sky Valley Branch | 425 Main Street | Sultan, WA 98294 |
| Camano Branch | 818 N Sunrise Blvd | Camano Island, WA 98292 |
| Snohomish Branch | 928 Avenue D | Snohomish, WA 98290 |
| Stanwood Branch | 9810 State Rt 532 | Stanwood, WA 98292 |