Overview / Commentary
First Sound Bank is headquartered in SEATTLE and is the 32nd largest bank in the state of Washington. It is also the 3,344th largest bank in the nation. It was established in 2004 and as of June of 2023, it had grown to 19 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 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57799 |
| Year Established | 2004 |
| Employees | 19 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.37% |
| Return on Equity - YTD | 4.14% |
| Annual Interest Income | $4.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $159.0MM$154.1MM |
| Loans | Q2 2023vs Q2 2022 | $141.2MM$130.5MM |
| Deposits | Q2 2023vs Q2 2022 | $114.1MM$114.4MM |
| Equity Capital | Q2 2023vs Q2 2022 | $15.0MM$14.6MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $1.6MM$1.5MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $1.4MM$1.5MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |