1st Security Bank of Washington

Headquarters

6920 220th Street Sw, Suite 300
Mountlake Terrace, WA 98043
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 2.55% →
1-Year CD 0.20% 2.85% →
2-Year CD N.A. 3.20% →
5-Year CD 0.50% 3.65% →
30-Year Mortgage N.A. 6.31% →
15-Year Mortgage N.A. 5.86% →
HELOC N.A. 2.79% →

2022 Overview

General Bank Information

1st Security Bank of Washington is an FDIC insured institution located in Mountlake Terrace, WA. It was founded in 2004 and has approximately $2.27 billion in assets. Customers can open an account at one of its 12 branches.

FDIC Insured Yes
FDIC Certificate # 57633
Date Established 2004
Assets $ 2.27 billion
Loans $ 1,839.77 million
Deposits $ 1,946.84 million
Capital $ 268.58 million
 

For a more detailed analysis of 1st Security Bank of Washington's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - August 16, 2022

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.01% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.05% $25,000 $29,999 Learn More
Premium Money Market Account
0.10% $10,000 $14,999 Learn More
Premium Money Market Account
0.10% $25,000 $34,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.01% $10,000 $14,999 Learn More
6 Mo CD
0.01% $100,000 $199,999 Learn More
12 Mo CD
0.20% $10,000 $14,999 Learn More
12 Mo CD
0.20% $100,000 $199,999 Learn More
30 Mo CD
0.40% $10,000 $14,999 Learn More
30 Mo CD
0.40% $100,000 $199,999 Learn More
60 Mo CD
0.50% $10,000 $14,999 Learn More
60 Mo CD
0.50% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.01% $2,500 $3,499 Learn MoreShow Less
 

Loan Rates - August 16, 2022

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for 1st Security Bank of Washington

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2022

Lender APR Rate (%) Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
4.853% 4.750%
0.75 points
$2,992 fees
$1,305 Learn More
CHASE
NMLS ID: 399798
5.454% 5.375%
0.88 points
$2,195 fees
$1,400 Learn More
Morty, Inc.
NMLS ID: 1429243
4.687% 4.625%
0.75 points
$1,800 fees
$1,286 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More

Note to 1st Security Bank of Washington
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Branches

1st Security Bank of Washington branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


1st Security Bank of Washington Locations



Climate Initiatives

1st Security Bank of Washington is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

1st Security Bank of Washington Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of 1st Security Bank of Washington. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
1st Security Bank of Washington U.S. Bank Average
2.33% 4.01%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2022, 1st Security Bank of Washington had $6,797,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $268,580,000 in equity and $23,365,000 in loans loss reserves. That gives it a Texas Ratio of 2.33%.

Return on Equity
1st Security Bank of Washington U.S. Bank Average
10.74% 9.01%

1st Security Bank of Washington has a Return on Equity of 10.74% versus the BestCashCow average of 9.01%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
1st Security Bank of Washington U.S. Bank Average
11.81% 10.66%

1st Security Bank of Washington has a Capitalization of 11.81% versus the BestCashCow average of 10.66. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

1st Security Bank of Washington Balance Sheet Analysis

As of March 31, 2022, 1st Security Bank of Washington had assets of $2,273,847,000, loans of $1,839,767,000, and deposits of $1,946,841,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2022
ASSETS
Cash & Balances due from depository institutions $ 37.65 million
Interest-bearing balances $ 25.89 million
Total securities $ 270.73 million
Federal funds sold and reverse repurchase $ 0.13 million
Net loans and leases $ 1,839.77 million
Loan loss allowance $ 23.37 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 24.24 million
All other assets $ 70.22 million
     Total Assets $ 2.01 billion
LIABILITIES
Total deposits $ 1,946.84 million
      Interest-bearing deposits $ 1,444.68 million
      Deposits held in domestic offices $ 1,946.84 million
      % insured (estimated) 71.19%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 35.53 million
Subordinated debt N.A.
All other liabilities $ 22.90 million
      Total Liabilities $ 2.01 billion
      Shareholders’ Equity $ 268.58 million

Summary Income Statement

March 31, 2022
INCOME AND EXPENSES
Total Interest Income $ 23.99 million
Total Interest Expense $ 1.42 million
Net interest income $ 22.57 million
Provision for loan and lease losses $ 1.04 million
Total non interest income $ 6.04 million
Total non interest expense $ 18.50 million
Pre-tax Net Operating Income $ 9.07 million

Bank Loan Profile?

The top three loan types in 1st Security Bank of Washington’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks in Washington, 1st Security Bank of Washington has a significantly higher percent of Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 25.78
Multifamily
Mortgages
10.80
Credit Card Loans 0.04
Consumer Auto Loans 0.02
Small Business Loans 0.00
Construction and Development Loans 14.07
Commercial Real Estate 15.94
Commercial and Industrial Loans 7.71
Farm Loans 0.00

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