Sound Community Bank is headquartered in Seattle and is the 18th largest bank in the state of Washington. It is also the 1,070th largest bank in the nation. It was established in 1953 and as of September of 2019, it had grown to 114 employees at 8 locations. Sound Community Bank 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 And because it's a business account, they will not refund the remainder of the funds that THEY ALLOWED TO BE WITHDRAWN FROM MY ACCOUNT!!!!!!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!!!!
|FDIC Certificate #||57451|
|Return on Assets - YTD||1%|
|Return on Equity - YTD||9.89%|
|Annual Interest Income||$25.6MM|
|Assets and Liabilities|
|Assets||Q3 2019vs Q3 2018||$715.3MM$714.5MM|
|Loans||Q3 2019vs Q3 2018||$608.9MM$612.2MM|
|Deposits||Q3 2019vs Q3 2018||$615.1MM$543.1MM|
|Equity Capital||Q3 2019vs Q3 2018||$73.0MM$69.2MM|
|Loan Loss Allowance||Q3 2019vs Q3 2018||$5.6MM$5.7MM|
|Unbacked Noncurrent Loans||Q3 2019vs Q3 2018||$3.4MM$2.4MM|
|Real Estate Owned||Q3 2019vs Q3 2018||$1.1MM$600.00K|
Rates for Sound Community Bank are currently being reviewed.
|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|