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Overview / Commentary
360-754-1945
2607 Martin Way East, Suite 211
Olympia, WA 98506

Washington Business Bank is headquartered in Olympia and is the 52nd largest bank in the state of Washington. It is also the 5,501st largest bank in the nation. It was established in 2002 and as of March of 2014, it had grown to 12 employees at 2 locations. Washington Business Bank has a B+ health rating.

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Health

Data for Q1 2014

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Washington Business Bank has a relatively low asset base.

Texas Ratio

GRADE:
B

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 Washington Business Bank had $1.53 million in non-current loans and owned real-estate with $8.4 million in equity and loan loss allowances on hand to cover it. This gives Washington Business Bank a Texas Ratio of 18.16% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Washington Business Bank decreased dramatically from 33.15% as of March 31, 2013 to 18.16% as of March 31, 2014, resulting in a positive change of 45.21%.This indicates that the balance sheet and financial strength for Washington Business Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Washington Business Bank has increased its total deposits by $5.81 million, resulting in 11.74% 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 Washington Business Bank has shown is excellent.

Capitalization

GRADE:
A+

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. Washington Business Bank has $67.97 million in assets with $8.4 million in equity, resulting in a capitalization level of 12.36%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #57167
Year Established2002
Employees12
Primary RegulatorFDIC
Assets and Liabilities
Assets$67.97 million
Loans$57.19 million
Deposits$55.28 million
Equity Capital$7.60 million
Loan Loss Allowance$804,000
Unbacked Noncurrent Loans$771,000
Real Estate Owned$755,000
Historic Data - March 2013
Assets$61.62 million
Equity Capital$7.26 million
Loan Loss Allowance$772,000
Unbacked Noncurrent Loans$771,000
Real Estate Owned$1.39 million
Profit Margin - Quarterly
Net Interest Margin5.05%
Return on Assets0.94%
Return on Equity8.38%
Interest Income$882,000
Rates
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Washington Business Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%--Health Savings Account
0.15%$100-Personal Savings Account
0.15%--Business Savings Account

Washington Business Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.30%$100k-Personal Money Market Account
0.30%$100k-Business Money Market Account

Washington Business Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.82%--5 Year CD
1.51%--4 Year CD
1.06%--3 Year CD
1.06%--3 Year Health Savings Account CD
0.65%--2 Year CD
0.65%--2 Year Health Savings Account CD
0.55%--18 Month CD
0.55%--18 Month Health Savings Account CD
0.40%--12 Month CD
0.40%--12 Month Health Savings Account CD
0.35%--9 Month CD
0.30%--6 Month CD

Washington Business Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.82%--5 Year IRA
1.51%$1k-4 Year IRA
1.06%--3 Year IRA
0.65%--2 Year IRA
0.55%--18 Month IRA
0.40%--12 Month IRA
0.35%--9 Month IRA
0.30%--6 Month IRA
Locations


Washington Business Bank Locations
Washington Business Bank2607 Martin Way East, Suite 211Olympia, WA 98506