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Sound Community Bank


Overview / Commentary
www.soundcb.com
206-436-3150
2400 Third Avenue
Seattle, WA 98121

Sound Community Bank is headquartered in Seattle and is the 19th largest bank in the state of Washington. It is also the 1,063rd largest bank in the nation. It was established in 1953 and as of March of 2020, it had grown to 121 employees at 10 locations. Sound Community Bank's money market rates are 61% higher than the national average, and it has an A health rating.

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Reviews (1)

DO NOT OPEN AN ACCOUNT HERE!!!!!

Posted by: |

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 And because it's a business account, they will not refund the remainder of the funds that THEY ALLOWED TO BE WITHDRAWN FROM MY ACCOUNT!!!!!!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

1


Health
A

Data as of Q1 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #57451
Year Established1953
Employees121
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.62%
Return on Equity - YTD5.94%
Annual Interest Income$8.7MM
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$737.8MM$697.6MM
LoansQ1 2020vs Q1 2019$625.4MM$579.4MM
DepositsQ1 2020vs Q1 2019$639.2MM$588.0MM
Equity CapitalQ1 2020vs Q1 2019$76.4MM$69.8MM
Loan Loss AllowanceQ1 2020vs Q1 2019$5.9MM$5.6MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$4.3MM$2.4MM
Real Estate OwnedQ1 2020vs Q1 2019$575.00K$1.1MM
Rates
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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.

Sound Community Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%*-$50kSimply Rewards - Saver
OTHER TIERS: 0.10% → $50k+
0.15%$100-Regular Savings Account
0.15%$100-Business Savings Account
0.15%--Educational Savings
0.15%--IRA Savings
0.15%--Youth Savings Account
0.15%$1k-Health Savings Account

Sound Community Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.72%*$1m*-Business Premier Money Market
OTHER TIERS: 0.20% → $25k - $50k | 0.25% → $50k - $100k | 0.30% → $100k - $1m
0.71%*$100k*-eMoney Maker
OTHER TIERS: 0.30% → $25k - $50k | 0.56% → $50k - $100k
0.71%*$100k*-Business eMoney Maker
OTHER TIERS: 0.30% → $25k - $50k | 0.56% → $50k - $100k
0.25%*$50k*-Money Market Account
OTHER TIERS: 0.15% → $1k - $10k | 0.20% → $10k - $50k
0.25%*$50k*-Business Money Market Account
OTHER TIERS: 0.15% → $1k - $10k | 0.20% → $10k - $50k

Sound Community Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.01%-$10kSimply Rewards Checking - Cash
0.01%$1k-Prime Checking (50+)

Sound Community Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.87%$1k-12 Month CD with Checking
0.87%$1k-Business 12 Month CD with Checking
0.81%$1k-60 Month CD with Checking
0.81%$1k-Business 60 Month CD with Checking
0.67%$1k-12 Month CD
0.67%$1k-Business 12 Month CD
0.64%$1k-48 Month CD with Checking
0.64%$1k-Business 48 Month CD with Checking
0.61%$1k-60 Month CD
0.61%$1k-24 Month CD with Checking
0.61%$1k-36 Month CD with Checking
0.61%$1k-Business 36 Month CD with Checking
0.61%$1k-Business 60 Month CD
0.61%$1k-Business 24 Month CD with Checking
0.57%$1k-18 Month CD with Checking
0.57%$1k-Business 18 Month CD with Checking
0.46%$1k-6 Month CD with Checking
0.46%$1k-Business 6 Month CD with Checking
0.44%$1k-48 Month CD
0.44%$1k-Business 48 Month CD
0.41%$1k-24 Month CD
0.41%$1k-36 Month CD
0.41%$1k-Business 36 Month CD
0.41%$1k-Business 24 Month CD
0.37%$1k-18 Month CD
0.37%$1k-Business 18 Month CD
0.26%$1k-6 Month CD
0.26%$1k-Business 6 Month CD

Sound Community Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.87%$500-12 Month IRA with Checking
0.81%$500-60 Month IRA with Checking
0.67%$500-12 Month IRA
0.64%$500-48 Month IRA with Checking
0.61%$500-24 Month IRA with Checking
0.61%$500-36 Month IRA with Checking
0.61%$500-60 Month IRA
0.57%$500-18 Month IRA with Checking
0.46%$500-6 Month IRA with Checking
0.44%$500-48 Month IRA
0.41%$500-24 Month IRA
0.41%$500-36 Month IRA
0.37%$500-18 Month IRA
0.26%$500-6 Month IRA
Locations


Sound Community Bank Locations
Port Angeles Branch110 North Alder StreetPort Angeles, WA 98362
Sound Community Bank2400 3rd AveSeattle, WA 98121
Cedar Plaza22807 44th Avenue WestMountlake Terrace, WA 98043
Tacoma-South2941 South 38th StreetTacoma, WA 98409
Sequim Branch645 W. Washington StreetSequim, WA 98382
Port Ludlow Branch9500 Oak Bay RoadPort Ludlow, WA 98365
Westside Community Bank Branch4922 Bridgeport Way WestUniversity Place, WA 98467
Creekside990 East Washington Street, Suite FSequim, WA 98382
Downtown Seattle Office2001 Fifth AvenueSeattle, WA 98121

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