Sound Community Bank


Overview / Commentary
206-436-3150
2400 Third Avenue
Seattle, WA 98121

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.

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 And because it's a business account, they will not refund the remainder of the funds that THEY ALLOWED TO BE WITHDRAWN FROM MY ACCOUNT!!!!!!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



Health

Health Grade Components

Overall
FDIC Certificate #57451
Year Established1953
Employees114
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1%
Return on Equity - YTD9.89%
Annual Interest Income$25.6MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$715.3MM$714.5MM
LoansQ3 2019vs Q3 2018$608.9MM$612.2MM
DepositsQ3 2019vs Q3 2018$615.1MM$543.1MM
Equity CapitalQ3 2019vs Q3 2018$73.0MM$69.2MM
Loan Loss AllowanceQ3 2019vs Q3 2018$5.6MM$5.7MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$3.4MM$2.4MM
Real Estate OwnedQ3 2019vs Q3 2018$1.1MM$600.00K
Rates

Rates for Sound Community Bank are currently being reviewed.

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

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