Sound Banking Company

Sound Banking Company is headquartered in Tacoma and is the 64^th largest bank in the state of Washington. It is also the 6,296^th largest bank in the nation. It was established in 1990 and as of March of 2012, it had grown to 6 employees at 1 location. Sound Banking Company has a 3-star health rating.

Data for Q1 2012

Institution Statistics Sound Banking Company FDIC Certificate # 33183 BankRate Report View Year Established 1990 Employees 6 Primary Regulator FDIC Assets and Liabilities Assets $52.48 million Loans $37.14 million Deposits $48.23 million Equity Capital $4.17 million Loan Loss Allowance $592,000 Unbacked Noncurrent Loans $665,000 Real Estate Owned $590,000 Historic Data - March 2011 Assets $51.87 million Equity Capital $3.93 million Loan Loss Allowance $614,000 Unbacked Noncurrent Loans $967,000 Real Estate Owned $774,000 Profit Margin - Quarterly Net Interest Margin 4.51% Return on Assets 1.92% Return on Equity 24.48% Interest Income $618,000

Institution Health Overall Score: 3 out of 5 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 March 31, 2012 Sound Banking Company had $1.25 million in non-current loans and owned real-estate with $4.76 million in equity and loan loss allowances on hand to cover it. This gives Sound Banking Company a Texas Ratio of 26.34% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Sound Banking Company decreased slightly from 38.33% as of March 31, 2011 to 26.34% as of March 31, 2012, resulting in a positive change of 31.29%.This indicates that the balance sheet and financial strength for Sound Banking Company has improved slightly in recent periods. Deposit Growth In the past year, Sound Banking Company has increased its total deposits by $351,000, resulting in 0.73% 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 Sound Banking Company has shown is average. 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. Sound Banking Company has $52.48 million in assets with $4.76 million in equity, resulting in a capitalization level of 9.08%, which is average.

No reviews have been left for this bank yet. Be the first to review.