Overview / Commentary
First Sound Bank is headquartered in Seattle and is the 33rd largest bank in the state of Washington. It is also the 3,463rd largest bank in the nation. It was established in 2004 and as of June of 2022, it had grown to 18 employees at 1 location. First Sound Bank has a B+ health rating.
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Proposed Merger With Fintech BMTX Mutually Ended
Posted by: w00d00w | Dec 30, 2022
BMTX instead has signed a letter of intent with a new sponsor bank (currently Customers Bank) with expected closure in the first half of 2023.
https://ir.bmtxinc.com/news/news-details/2022/BM-Technologies-Announces-Update-to-Partner-Bank-Strategy-and-Mutual-Termination-of-Merger-with-First-Sound-Board-Authorizes-10-Million-Repurchase-Plan/default.aspx
Health
B+
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57799 |
| Year Established | 2004 |
| Employees | 18 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.21% |
| Return on Equity - YTD | 2.04% |
| Annual Interest Income | $2.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $154.1MM$165.2MM |
| Loans | Q2 2022vs Q2 2021 | $130.5MM$129.2MM |
| Deposits | Q2 2022vs Q2 2021 | $114.4MM$116.2MM |
| Equity Capital | Q2 2022vs Q2 2021 | $14.6MM$13.7MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $1.5MM$1.5MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $1.5MM$1.9MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$0 |