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3100 Woburn Street
Bellingham, WA 98226

Peoples Bank (WA) is headquartered in Bellingham and is the 11st largest bank in the state of Washington. It is also the 516st largest bank in the nation. It was established in 1921 and as of December of 2013, it had grown to 362 employees at 27 locations. Peoples Bank (WA) has a A health rating.

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Reviews (5)

Same Experience As Doglover

I'm leaving Peoples too after having the exact same experience as doglover with a check from E-Trade. Guess they had never heard of them either. To make matters worse the teller accepted the check and then called me at home 2 hours later to explain they were doing me a favor by releasing $5,000 in 2 days but the other $15,000 would have a 10 day hold ! I have other checking accounts at other banks, where if gven the option at the time of deposit I would have taken the check to one of them. I asked someone at another branch about the check hold policy and was told it was discretionary so discretionary I guess they decide what to do after they take your check and you've left the building. 

I closed my business account with them when I tried to add a savings account to my existing business account and the same busy body teller said she couldn't find my business registration with the State so they would have to close all my accounts. The Bank manager was smart enough to find it when I called but the damage was done so I went to US Bank.


Not So Nice After All...

I switched from Chase to People's bank of Washington, based on the idea that they were a friendlier, local bank.  Things were fine until I went to deposit a check from Fidelity Investments (heard of them?).  I had taken money because I had a need and wanted to have the check post the same day After I received the overnighted check,  I found out that People's bank was skeptical of the validity and refused to call Fidelity to verify funds saying that it would do them no good to call.  They were going to put a 2 day hold on 1/2 the check and then a 7 business day hold on the remainder.  I asked what the logic was in that - meaning if they knew in 2 days that the check was "good" why would they hold the remainder.  The banker stammered but had no answer.  Clearly they are using my money for their profit.  Really a deal breaker for me.

I have a car loan and savings account at BECU so I drove there and they released funds immediately - wasn't even an issue.

I say stick with the non-profit credit unions and run from for profit banks....ugh.

Best Bank Ever!

I have been a loyal People's Bank customer since 2000.  They have helped me with a construction loan, refinance, and my daily banking needs.  Every employee is professional, efficient, helpful, and friendly.  Recently, I began using the online banking and bill pay system.  It is well organized and easy to use, saving time in my hectic schedule.  I have convinced friends and family to make the switch and they love People's Bank too!  Honestly, I would not bank anywhere else.  My experience has been positive at all the branches, but the staff at Mount Vernon is truly exceptional!


You people are hilarious.

The hold is not to ensure the funds are available from whoever the check is drawn on.

It's to ensure you aren't committing fraud with a 5-figure check. Which you probably are, since you're so nervous and scared about a hold.

Rating 5 stars to offset your foolishness.

Excellent Service

I have been with People's Bank for over 7 years, and have multiple accounts and mortgages with this establishments. I have been very satisfied with the service I have received. The very occasional mistake was rectified promptly. People's Bank has remained stable through the banking crisis by conservative lending and cautious banking practices. I would recommend People's Bank to friend, family and colleagues.


Data for Q4 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 December 31, 2013 Peoples Bank (WA) had $13.83 million in non-current loans and owned real-estate with $146.74 million in equity and loan loss allowances on hand to cover it. This gives Peoples Bank (WA) a Texas Ratio of 9.42% 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 Peoples Bank (WA) decreased slightly from 12.75% as of December 31, 2012 to 9.42% as of December 31, 2013, resulting in a positive change of 26.11%.This indicates that the balance sheet and financial strength for Peoples Bank (WA) has improved slightly in recent periods.

Deposit Growth


In the past year, Peoples Bank (WA) has increased its total deposits by $19.23 million, resulting in 1.68% 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 Peoples Bank (WA) has shown is above average.



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. Peoples Bank (WA) has $1.3 billion in assets with $146.74 million in equity, resulting in a capitalization level of 11.29%, which is excellent.

Institution Statistics

FDIC Certificate #6158
Year Established1921
Primary RegulatorFDIC
Assets and Liabilities
Assets$1.30 billion
Loans$1.06 billion
Deposits$1.16 billion
Equity Capital$133.36 million
Loan Loss Allowance$13.38 million
Unbacked Noncurrent Loans$4.57 million
Real Estate Owned$9.26 million
Historic Data - December 2012
Assets$1.28 billion
Equity Capital$130.77 million
Loan Loss Allowance$13.87 million
Unbacked Noncurrent Loans$4.57 million
Real Estate Owned$11.03 million
Profit Margin - Quarterly
Net Interest Margin4.14%
Return on Assets0.96%
Return on Equity9.45%
Interest Income$52.90 million

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Peoples Bank (WA) Savings Account Rates

0.20%$100k-Personal Premium Savings
0.10%--Personal Savings

Peoples Bank (WA) Money Market Rates

0.15%$50k-Personal Money Market

Peoples Bank (WA) Checking Account Rates

0.10%$25k$50kReward Package Checking

Peoples Bank (WA) CD Rates

1.00%$500-60 Month Fixed Rate CD
0.70%$50k-48 Month Fixed Rate CD
0.55%$50k-36 Month Fixed Rate CD
0.45%$50k-30 Month Fixed Rate CD
0.40%$50k-24 Month Fixed Rate CD
0.30%$50k-18 Month Fixed Rate CD
0.25%$50k-12 Month Fixed Rate CD
0.25%$50k-Peoples Add-On Certificate
0.23%$50k-Peoples Variable Rate Certificate
0.20%$500-Community Connections Certificate
0.20%$500-Peoples Liquid CD
0.15%$50k-6 Month Fixed Rate CD
0.05%$500-3 Month Fixed Rate CD

Peoples Bank (WA) IRA Rates

1.00%$500-60 Month Fixed Rate IRA (Traditional,Roth)
0.70%$50k-48 Month Fixed Rate IRA (Traditional,Roth)
0.55%$50k-36 Month Fixed Rate IRA (Traditional,Roth)
0.45%$50k-30 Month Fixed Rate IRA (Traditional,Roth)
0.40%$50k-24 Month Fixed Rate IRA (Traditional,Roth)
0.30%$50k-18 Month Fixed Rate IRA (Traditional,Roth)
0.25%$50k-12 Month Fixed Rate IRA (Traditional,Roth)
0.20%$500-Community Connections IRA (Traditional,Roth)
0.15%$50k-6 Month Fixed Rate IRA (Traditional,Roth)

Peoples Bank (WA) has 24 locations. Click to view all Peoples Bank (WA) locations.