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Overview / Commentary
2006 Harrison Avenue Nw 10
Olympia, WA 98502

South Sound Bank is headquartered in Olympia and is the 37th largest bank in the state of Washington. It is also the 3,487th largest bank in the nation. It was established in 2000 and as of March of 2014, it had grown to 37 employees at 2 locations. South Sound Bank has a A+ health rating.

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Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 South Sound Bank had $1.98 million in non-current loans and owned real-estate with $25.32 million in equity and loan loss allowances on hand to cover it. This gives South Sound Bank a Texas Ratio of 7.84% 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 South Sound Bank decreased dramatically from 23.25% as of March 31, 2013 to 7.84% as of March 31, 2014, resulting in a positive change of 66.28%.This indicates that the balance sheet and financial strength for South Sound Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, South Sound Bank has increased its total deposits by $724,000, resulting in 0.52% 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 South Sound Bank 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. South Sound Bank has $165.14 million in assets with $25.32 million in equity, resulting in a capitalization level of 15.33%, which is excellent.

Institution Statistics

FDIC Certificate #35355
Year Established2000
Primary RegulatorFDIC
Assets and Liabilities
Assets$165.14 million
Loans$93.60 million
Deposits$140.62 million
Equity Capital$22.83 million
Loan Loss Allowance$2.49 million
Unbacked Noncurrent Loans$671,000
Real Estate Owned$1.31 million
Historic Data - March 2013
Assets$163.50 million
Equity Capital$22.34 million
Loan Loss Allowance$2.81 million
Unbacked Noncurrent Loans$671,000
Real Estate Owned$2.73 million
Profit Margin - Quarterly
Net Interest Margin3.84%
Return on Assets0.45%
Return on Equity3.22%
Interest Income$1.53 million

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South Sound Bank Savings Account Rates

0.20%$50k-Personal Savings Account
0.20%--Health Savings Account
0.20%$50k-Business Savings Account

South Sound Bank Money Market Rates

0.20%$50k-Personal Money Market Savings
0.20%$50k-Business Money Market Savings

South Sound Bank Checking Account Rates

0.05%$100-Gold Checking
0.05%$100-Interest Checking
0.05%$100-Business Checking

South Sound Bank CD Rates

0.70%$500-5 Year CD
0.60%$500-4 Year CD
0.50%$500-3 Year CD
0.40%$500-2 Year CD
0.30%$500-18 Month CD
0.25%$500-1 Year CD
0.20%$500-9 Month CD
0.15%$500-6 Month CD
0.10%$500-3 Month CD
0.05%$500-7-29 Day CD
0.05%$500-30-89 Day CD

South Sound Bank IRA Rates

0.40%$500-2 Year IRA
0.30%$500-18 Month IRA
0.25%$500-1 Year IRA
0.20%$500-271-364 Day IRA
0.05%$500-7-29 Day IRA
0.05%$500-30-89 Day IRA

South Sound Bank Locations
South Sound Bank2006 Harrison Avenue NW 10Olympia, WA 98502
Lacey4530 Lacey Boulevard SeLacey, WA 98503