Sound Community Bank is headquartered in Seattle and is the 18th largest bank in the state of Washington. It is also the 1,027th largest bank in the nation. It was established in 1953 and as of September of 2020, it had grown to 122 employees at 10 locations. Sound Community Bank's money market rates are 16% higher than the national average, and it has an A health rating.
Their lack of security measures allowed my business bank account to be hacked for over $4500!! The purchases were made overseas -- I never leave the country -- and should have been a HUGE red flag to any reputable bank with a half decent fraud protection system. They allowed OVER 70 CHARGES to go through before finally sending a text message to ask if the charges were legitimate. ARE YOU KIDDING ME?!?!
And after MONTHS of waiting for the dispute to settle, I was only refunded $2500!!! And because it's a business account, they will not refund the remainder of the funds that THEY ALLOWED TO BE WITHDRAWN FROM MY ACCOUNT!!!!!!
There are WAY better banks out there. Business owners--- DO YOUR RESEARCH!!!!!! DO NOT USE THIS BANK EVER!!!!
Overall | |
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FDIC Certificate # | 57451 |
Year Established | 1953 |
Employees | 122 |
Primary Regulator | FDIC |
Profit Margin | |
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Return on Assets - YTD | 0.97% |
Return on Equity - YTD | 9.79% |
Annual Interest Income | $26.0MM |
Assets and Liabilities | ||
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Assets | Q3 2020vs Q3 2019 | $867.7MM$715.3MM |
Loans | Q3 2020vs Q3 2019 | $699.5MM$608.9MM |
Deposits | Q3 2020vs Q3 2019 | $759.5MM$615.1MM |
Equity Capital | Q3 2020vs Q3 2019 | $86.8MM$73.0MM |
Loan Loss Allowance | Q3 2020vs Q3 2019 | $6.0MM$5.6MM |
Unbacked Noncurrent Loans | Q3 2020vs Q3 2019 | $3.3MM$3.4MM |
Real Estate Owned | Q3 2020vs Q3 2019 | $575.00K$1.1MM |
Always verify rates and promotions with the bank or credit union. We are not Sound Community 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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
1.01% | - | $10k | Simply Rewards Checking - Cash | |
0.01% | $1k | - | Prime Checking (50+) |
Sound Community Bank Locations | ||
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Port Angeles Branch | 110 North Alder Street | Port Angeles, WA 98362 |
Sound Community Bank | 2400 3rd Ave | Seattle, WA 98121 |
Cedar Plaza | 22807 44th Avenue West | Mountlake Terrace, WA 98043 |
Tacoma-South | 2941 South 38th Street | Tacoma, WA 98409 |
Sequim Branch | 645 W. Washington Street | Sequim, WA 98382 |
Port Ludlow Branch | 9500 Oak Bay Road | Port Ludlow, WA 98365 |
Westside Community Bank Branch | 4922 Bridgeport Way West | University Place, WA 98467 |
Creekside | 990 East Washington Street, Suite F | Sequim, WA 98382 |
Downtown Seattle Office | 2001 Fifth Avenue | Seattle, WA 98121 |