First Sound Bank


Overview / Commentary
206-515-2004
925 Fourth Avenue, Suite 2350
Seattle, WA 98104

First Sound Bank is headquartered in SEATTLE and is the 31st largest bank in the state of Washington. It is also the 3,331st largest bank in the nation. It was established in 2004 and as of December of 2023, it had grown to 17 employees at 1 location. First Sound Bank has a B health rating.

Reviews (1)

Proposed Merger With Fintech BMTX Mutually Ended

Posted by: |

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

Health Grade Components

Overall
FDIC Certificate #57799
Year Established2004
Employees17
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.06%
Return on Equity - YTD0.62%
Annual Interest Income$8.2MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$161.2MM$171.6MM
LoansQ4 2023vs Q4 2022$135.8MM$144.4MM
DepositsQ4 2023vs Q4 2022$120.3MM$132.2MM
Equity CapitalQ4 2023vs Q4 2022$15.1MM$14.9MM
Loan Loss AllowanceQ4 2023vs Q4 2022$1.6MM$1.5MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$1.4MM$1.6MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Rates

Rates for First Sound Bank are currently being reviewed.

Locations


First Sound Bank Locations
First Sound Bank925 4th AveSeattle, WA 98104

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