Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
206-448-0884
2001 5th Ave.
Seattle, WA 98121

Sound Community Bank is headquartered in Seattle and is the 23rd largest bank in the state of Washington. It is also the 1,503rd largest bank in the nation. It was established in 1953 and as of December of 2013, it had grown to 87 employees at 5 locations. Sound Community Bank's savings rates are 94% higher than the national average, and it boasts a A+ health rating.

Related Posts



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



Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

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 Sound Community Bank had $1.97 million in non-current loans and owned real-estate with $48.42 million in equity and loan loss allowances on hand to cover it. This gives Sound Community Bank a Texas Ratio of 4.06% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Sound Community Bank decreased dramatically from 12.53% as of December 31, 2012 to 4.06% as of December 31, 2013, resulting in a positive change of 67.56%.This indicates that the balance sheet and financial strength for Sound Community Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Sound Community Bank has increased its total deposits by $32.49 million, resulting in 10.18% 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 Community Bank has shown is excellent.

Capitalization

GRADE:
B+

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 Community Bank has $442.42 million in assets with $48.42 million in equity, resulting in a capitalization level of 10.94%, which is above average.

Institution Statistics

Overall
FDIC Certificate #57451
Year Established1953
Employees87
Primary RegulatorFDIC
Assets and Liabilities
Assets$442.42 million
Loans$386.88 million
Deposits$351.64 million
Equity Capital$44.24 million
Loan Loss Allowance$4.18 million
Unbacked Noncurrent Loans$882,000
Real Estate Owned$1.09 million
Historic Data - December 2012
Assets$381.84 million
Equity Capital$38.81 million
Loan Loss Allowance$4.25 million
Unbacked Noncurrent Loans$882,000
Real Estate Owned$2.39 million
Profit Margin - Quarterly
Net Interest Margin4.72%
Return on Assets0.98%
Return on Equity9.75%
Interest Income$20.39 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Sound Community Bank, we are a rate comparison website and can not provide official rates or promotions.

Sound Community Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.01%-$15kSimply Rewards Saver
0.05%--Regular Savings
0.05%--Business Savings
0.05%--Educational Savings
0.05%--IRA Savings
0.05%--Youth Savings
0.05%--Health Savings Account
0.05%--Roth IRA Savings
0.05%--Simply Rewards Saver

Sound Community Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.67%$100k-eMoney Maker Account
0.67%$100k-Business eMoney Maker Account
0.25%$50k-Money Market Account
0.25%$50k-Business Money Market Account

Sound Community Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.01%-$10kSimply Rewards Cash
0.05%--Simply Rewards Cash

Sound Community Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.41%$1k-60+ Month CD w/Checking
1.31%$1k-60+ Month CD
1.15%$1k-48 Month CD w/Checking
1.04%$1k-48 Month CD
0.95%$1k-36 Month CD w/Checking
0.90%$1k-24 Month CD w/Checking
0.85%$1k-36 Month CD
0.80%$1k-24 Month CD
0.50%$1k-18 Month CD w/Checking
0.40%$1k-18 Month CD
0.35%$1k-12 Month CD w/Checking
0.30%$1k-6 Month CD w/Checking
0.25%$1k-12 Month CD
0.20%$1k-6 Month CD

Sound Community Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.41%$500-60+ Month IRA w/Checking (Traditional,Roth)
1.31%$500-60+ Month IRA (Traditional,Roth)
1.15%$500-48 Month IRA w/Checking (Traditional,Roth)
1.04%$500-48 Month IRA (Traditional,Roth)
0.95%$500-36 Month IRA w/Checking (Traditional,Roth)
0.90%$500-24 Month IRA w/Checking (Traditional,Roth)
0.85%$500-36 Month IRA (Traditional,Roth)
0.80%$500-24 Month IRA (Traditional,Roth)
0.50%$500-18 Month IRA w/Checking (Traditional,Roth)
0.40%$500-18 Month IRA (Traditional,Roth)
0.35%$500-12 Month IRA w/Checking (Traditional,Roth)
0.30%$500-6 Month IRA w/Checking (Traditional,Roth)
0.25%$500-12 Month IRA (Traditional,Roth)
0.20%$500-6 Month IRA (Traditional,Roth)
Locations


Sound Community Bank Locations
Port Angeles Branch110 North Alder StreetPort Angeles, WA 98362
Sound Community Bank2001 5th Ave.Seattle, WA 98121
Cedar Plaza22807 44th Avenue WestMountlake Terrace, WA 98043
Tacoma-South2941 South 38th StreetTacoma, WA 98409
Sequim Branch541 North 5th AvenueSequim, WA 98382