Sound Community Bank

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Based on 1 review

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CURRENT TOP RATE

60 Month CD with Checking

Overview / Commentary

www.soundcb.com

206-436-3150

2400 Third Avenue
Seattle, WA 98121

Sound Community Bank is headquartered in Seattle and is the 18^th largest bank in the state of Washington. It is also the 1,054^th largest bank in the nation. It was established in 1953 and as of September of 2021, it had grown to 127 employees at 10 locations. Sound Community Bank has an A health rating.

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2010

6/9 - Sound Community Bank Has 21-Month 2.00% CD With Qualifying Relationship - WA

Reviews (1)

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DO NOT OPEN AN ACCOUNT HERE!!!!!

Posted by: tracyb | Dec 9, 2019

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 And because it's a business account, they will not refund the remainder of the funds that THEY ALLOWED TO BE WITHDRAWN FROM MY ACCOUNT!!!!!!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!!!!

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1

Health

A

Data as of Q3 2021

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	57451
Year Established	1953
Employees	127
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.17%
Return on Equity - YTD	11.31%
Annual Interest Income	$25.6MM

Assets and Liabilities
Assets	Q3 2021vs Q3 2020	$928.2MM$867.7MM
Loans	Q3 2021vs Q3 2020	$665.1MM$699.5MM
Deposits	Q3 2021vs Q3 2020	$815.2MM$759.5MM
Equity Capital	Q3 2021vs Q3 2020	$99.0MM$86.8MM
Loan Loss Allowance	Q3 2021vs Q3 2020	$6.3MM$6.0MM
Unbacked Noncurrent Loans	Q3 2021vs Q3 2020	$3.1MM$3.3MM
Real Estate Owned	Q3 2021vs Q3 2020	$659.00K$575.00K

Rates

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

Sound Community Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.05%	$100	-	Regular Savings Account
0.05%	$100	-	Business Savings Account
0.05%	-	-	Educational Savings
0.05%	-	-	IRA Savings
0.05%	-	-	Youth Savings Account
0.05%	$1k	-	Health Savings Account

Sound Community Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.25%^*	$1m^*	-	Business Premier Money Market
OTHER TIERS: 0.05% → Up to $25k \| 0.10% → $25k - $100k \| 0.15% → $100k - $500k \| 0.20% → $500k - $1m
0.21%^*	$100k^*	-	eMoney Maker
OTHER TIERS: 0.05% → Up to $25k \| 0.10% → $25k - $50k \| 0.16% → $50k - $100k
0.21%^*	$100k^*	-	Business eMoney Maker
OTHER TIERS: 0.05% → Up to $25k \| 0.10% → $25k - $50k \| 0.16% → $50k - $100k
0.15%^*	$50k^*	-	Money Market Account
OTHER TIERS: 0.05% → Up to $1k \| 0.10% → $1k - $50k
0.15%^*	$50k^*	-	Business Money Market Account
OTHER TIERS: 0.05% → Up to $1k \| 0.10% → $1k - $50k

Sound Community Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.01%	$1k	-	Prime Checking (50+)

Sound Community Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.41%	$1k	-	60 Month CD with Checking
0.41%	$1k	-	Business 60 Month CD with Checking
0.36%	$1k	-	48 Month CD with Checking
0.36%	$1k	-	Business 48 Month CD with Checking
0.31%	$1k	-	60 Month CD
0.31%	$1k	-	36 Month CD with Checking
0.31%	$1k	-	Business 36 Month CD with Checking
0.31%	$1k	-	Business 60 Month CD
0.26%	$1k	-	48 Month CD
0.26%	$1k	-	Business 48 Month CD
0.21%	$1k	-	36 Month CD
0.21%	$1k	-	24 Month CD with Checking
0.21%	$1k	-	Business 36 Month CD
0.21%	$1k	-	Business 24 Month CD with Checking
0.19%	$1k	-	18 Month CD with Checking
0.19%	$1k	-	Business 18 Month CD with Checking
0.16%	$1k	-	24 Month CD
0.16%	$1k	-	Business 24 Month CD
0.14%	$1k	-	12 Month CD with Checking
0.14%	$1k	-	18 Month CD
0.14%	$1k	-	Business 12 Month CD with Checking
0.14%	$1k	-	Business 18 Month CD
0.09%	$1k	-	6 Month CD with Checking
0.09%	$1k	-	Business 6 Month CD with Checking
0.08%	$1k	-	12 Month CD
0.08%	$1k	-	Business 12 Month CD
0.04%	$1k	-	6 Month CD
0.04%	$1k	-	Business 6 Month CD

Sound Community Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.41%	$500	-	60 Month IRA with Checking
0.36%	$500	-	48 Month IRA with Checking
0.31%	$500	-	36 Month IRA with Checking
0.31%	$500	-	60 Month IRA
0.26%	$500	-	48 Month IRA
0.21%	$500	-	24 Month IRA with Checking
0.21%	$500	-	36 Month IRA
0.19%	$500	-	18 Month IRA with Checking
0.16%	$500	-	24 Month IRA
0.14%	$500	-	12 Month IRA with Checking
0.14%	$500	-	18 Month IRA
0.09%	$500	-	6 Month IRA with Checking
0.08%	$500	-	12 Month IRA
0.04%	$500	-	6 Month IRA

Locations

Sound Community Bank Locations
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

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