Sound Community Bank is headquartered in Seattle and is the 18th largest bank in the state of Washington. It is also the 1,039th largest bank in the nation. It was established in 1953 and as of June of 2022, it had grown to 130 employees at 10 locations. Sound Community Bank has a B+ 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 And because it's a business account, they will not refund the remainder of the funds that THEY ALLOWED TO BE WITHDRAWN FROM MY ACCOUNT!!!!!!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||0.81%|
|Return on Equity - YTD||7.44%|
|Annual Interest Income||$17.2MM|
|Assets and Liabilities|
|Assets||Q2 2022vs Q2 2021||$937.3MM$923.3MM|
|Loans||Q2 2022vs Q2 2021||$799.1MM$637.2MM|
|Deposits||Q2 2022vs Q2 2021||$790.0MM$814.1MM|
|Equity Capital||Q2 2022vs Q2 2021||$104.0MM$96.0MM|
|Loan Loss Allowance||Q2 2022vs Q2 2021||$7.1MM$6.2MM|
|Unbacked Noncurrent Loans||Q2 2022vs Q2 2021||$4.6MM$1.5MM|
|Real Estate Owned||Q2 2022vs Q2 2021||$659.00K$659.00K|
Rates for Sound Community Bank are currently being reviewed.
|Mountlake Terrace Branches|
|Cedar Plaza||22807 44th Avenue West||Mountlake Terrace, WA 98043|
|Port Angeles Branches|
|Port Angeles Branch||110 North Alder Street||Port Angeles, WA 98362|
|Port Ludlow Branches|
|Port Ludlow Branch||9500 Oak Bay Road||Port Ludlow, WA 98365|
|Sound Community Bank||2400 3rd Ave||Seattle, WA 98121|
|Belltown||2400 3rd Ave Suite 150||Seattle, WA 98121|
|Downtown Seattle Office||2001 Fifth Avenue||Seattle, WA 98121|
|Sequim Branch||645 W. Washington Street||Sequim, WA 98382|
|Creekside||990 East Washington Street, Suite F||Sequim, WA 98382|
|Tacoma-South||2941 South 38th Street||Tacoma, WA 98409|
|University Place Branches|
|Westside Community Bank Branch||4922 Bridgeport Way West||University Place, WA 98467|