1st Security Bank


Overview / Commentary
425-771-5299
6920 220th Street Sw
Mountlake Terrace, WA 98043

1st Security Bank is headquartered in Mountlake Terrac and is the 9th largest bank in the state of Washington. It is also the 522nd largest bank in the nation. It was established in 2004 and as of June of 2019, it had grown to 432 employees at 23 locations. 1st Security Bank's money market rates are 82% higher than the national average, and it boasts an A+ health rating.

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Reviews (1)

Terrible Loan Experience

Posted by: larry503 | Apr 6, 2014

I obtained a 6 month deferred loan from System Pavers who did some work. This is the bank they have a relationship with. Asked clearly to the sales person what the total amount would be and it was just for the work they would perform. The loan agreement does not specify any fees associated with the loan. Expectation after paying off the loan would be the end of it, but found out there is undisclosed fee for closing out the loan from !st Security Bank. They sent 1 letter that was signed off by the person sending it but can't make out the signature. This 1st letter indicated the amount and then received 2nd letter 2 days later basically having 5 days to pay this amount off. Pretty demanding of a bank giving such short notice. I have emailed the bank what and why there would be a fee for paying of the loan, their response is "it's in the loan agreement". There is no specified amount on the loan agreement and no mention of this hidden fee ever.

Do not do business with this unethical bank who does disclose their hidden fee.

The only good thing to say about this bank is they responded the next day and their online website when logged in is easy to understand.



Health
A+

Health Grade Components

Overall
FDIC Certificate #57633
Year Established2004
Employees432
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.23%
Return on Equity - YTD10.6%
Annual Interest Income$44.5MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$1.64B$1.13B
LoansQ2 2019vs Q2 2018$1.35B$936.4MM
DepositsQ2 2019vs Q2 2018$1.35B$883.9MM
Equity CapitalQ2 2019vs Q2 2018$193.6MM$133.3MM
Loan Loss AllowanceQ2 2019vs Q2 2018$12.3MM$11.6MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$1.6MM$627.00K
Real Estate OwnedQ2 2019vs Q2 2018$254.00K$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not 1st Security Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

1st Security Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*-$5kOptimum Savings (w/ Relationship Account)
OTHER TIERS: 0.25% $5k+
1.15%*$100k*-Nonprofit Savings
OTHER TIERS: 0.05% $2.5k - $5k | 0.10% $5k - $10k | 0.25% $10k - $50k | 0.50% $50k - $100k
0.10%$5-Youth Savings
0.10%$50-Uniform Transfer to Minors
0.05%$300-Preferred Savings
0.05%$500-Business Savings

1st Security Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%*$1m*-Business Money Market
OTHER TIERS: 0.15% Up to $50k | 0.50% $50k - $100k | 0.65% $100k - $1m
1.15%*$100k*-eBanking High Yield Money Market
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k - $50k | 1.10% $50k - $100k
0.80%*$100k*-Tiered Rate Money Market
OTHER TIERS: 0.01% Up to $5k | 0.05% $5k - $50k | 0.75% $50k - $100k

1st Security Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%*$249k*-1st Rewards Checking
OTHER TIERS: 0.05% Up to $10k | 0.35% $10k - $101k | 0.40% $101k - $249k
0.05%$100-1st Classic Checking
0.05%*$50k*-1st Premier Checking
OTHER TIERS: 0.01% Up to $50k
0.05%$1k-1st Interest Checking

1st Security Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.10%$500-5 Year CD w/ Relationship Account
2.05%$500-30 Month CD w/ Relationship Account
2.00%$500-21 Month CD w/ Relationship Account
1.95%$500-1 Year CD w/ Relationship Account
1.85%$500-5 Year CD
1.85%$500-180 Day CD w/ Relationship Account
1.80%$500-30 Month CD
1.75%$25k-11 Month CD Special w/ Relationship Account
1.65%$500-21 Month CD
1.60%$500-1 Year CD
1.50%$500-180 Day CD
1.40%$25k-11 Month CD Special

1st Security Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.10%$500-5-Year IRA w/ Relationship Account
2.05%$500-30-Month IRA w/ Relationship Account
2.00%$500-21-Month IRA w/ Relationship Account
1.95%$500-1-Year IRA w/ Relationship Account
1.85%$500-5-Year IRA
1.85%$500-180-Day IRA w/ Relationship Account
1.80%$500-30-Month IRA
1.75%$25k-11 Month IRA Special w/ Relationship
1.65%$500-21-Month IRA
1.60%$500-1-Year IRA
1.50%$500-180-Day IRA
1.40%$25k-11 Month IRA Special
Locations

Availability



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