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% 1.40% →
1-Year CD 0.30% 1.15% →
2-Year CD N.A. 1.26% →
5-Year CD 0.55% 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 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 $1.71 billion in assets. Customers can open an account at one of its 12 branches.

FDIC Insured Yes
FDIC Certificate # 57633
Date Established 2004
Assets $ 1,712.90 million
Loans $ 1,406.06 million
Deposits $ 1,405.28 million
Capital $ 204.57 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 - July 2, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $300 - Learn More
Money Market
0.01% $1 $4,999 Learn More
Money Market
0.05% $5,000 $49,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.20% $500 - Learn More
Special: 11 Mo CD
0.05% $25,000 - Learn More
12 Mo CD
0.30% $500 - Learn More
30 Mo CD
0.45% $500 - Learn More
60 Mo CD
0.55% $500 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.30% $500 - Learn MoreShow Less
Special: 11 Mo FIRA
0.05% $25,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.01% $1,000 - Learn MoreShow Less

Loan Rates - July 2, 2020

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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
3.039% 3.000% 0.50 $1,250 $1,055 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
4.000 %
$0 Learn More
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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


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
1.47% 6.51%

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 December 31, 2019, 1st Security Bank of Washington had $3,033,000 in non-current loans and $168,000 in owned real estate. To cover these potential losses it had $204,570,000 in equity and $13,229,000 in loans loss reserves. That gives it a Texas Ratio of 1.47%.

Return on Equity
1st Security Bank of Washington U.S. Bank Average
12.05% 9.41%

1st Security Bank of Washington has a Return on Equity of 12.05% versus the BestCashCow average of 9.41%. 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
11.94% 12.82%

1st Security Bank of Washington has a Capitalization of 11.94% versus the BestCashCow average of 12.82. 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 December 31, 2019, 1st Security Bank of Washington had assets of $1,712,897,000, loans of $1,406,058,000, and deposits of $1,405,275,000. 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

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 66.60 million
Interest-bearing balances $ 53.68 million
Total securities $ 126.06 million
Federal funds sold and reverse repurchase $ 0.08 million
Net loans and leases $ 1,406.06 million
Loan loss allowance $ 13.23 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.17 million
Goodwill and other intangibles $ 19.33 million
All other assets $ 66.51 million
     Total Assets $ 1,508.33 million
LIABILITIES
Total deposits $ 1,405.28 million
      Interest-bearing deposits $ 1,373.77 million
      Deposits held in domestic offices $ 1,405.28 million
      % insured (estimated) 78.78%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 84.86 million
Subordinated debt N.A.
All other liabilities $ 18.19 million
      Total Liabilities $ 1,508.33 million
      Shareholders’ Equity $ 204.57 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 89.17 million
Total Interest Expense $ 18.59 million
Net interest income $ 70.58 million
Provision for loan and lease losses $ 2.88 million
Total non interest income $ 20.16 million
Total non interest expense $ 58.94 million
Pre-tax Net Operating Income $ 28.92 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, 1st Security Bank of Washington’s loan portfolio does not show any specific loan specialty.

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 27.64
Multifamily
Mortgages
9.62
Credit Card Loans 0.12
Consumer Auto Loans 0.04
Small Business Loans 3.94
Construction and Development Loans 12.78
Commercial Real Estate 15.19
Commercial and Industrial Loans 8.31
Farm Loans 0.02

Frequently Asked Questions About 1st Security Bank Of Washington

Branches and Savings

Is 1st Security Bank Of Washington FDIC insured?

Yes. It is covered under FDIC Certificate #57633.

Why does 1st Security Bank Of Washington pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are 1st Security Bank Of Washington CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is 1st Security Bank Of Washington a commercial bank?

Yes

Where are 1st Security Bank Of Washington locations?

See branch locations nearby.

Is 1st Security Bank Of Washington open on Saturdays?

Is 1st Security Bank Of Washington open on Sundays?

What time does 1st Security Bank Of Washington open?

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Are 1st Security Bank Of Washington ATMs Open 24/7?

Do 1st Security Bank Of Washington ATMs accept cash deposits?

Can 1st Security Bank Of Washington customers use other ATMs?

Do 1st Security Bank Of Washington branches have notaries?

Will 1st Security Bank Of Washington notarize my document?

What address for 1st Security Bank Of Washington should I put for incoming ACH transfers?

Will the 1st Security Bank Of Washington branch print checks?

Do 1st Security Bank Of Washington checks expire?

Does 1st Security Bank Of Washington require US citizenship to open account?

Can 1st Security Bank Of Washington close my account?

Does 1st Security Bank Of Washington Report to credit bureaus?

Does 1st Security Bank Of Washington Use Equifax?

What is 1st Security Bank Of Washington's ACH Routing Number?

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Products

Does 1st Security Bank Of Washington offer mortgages?

Compare mortgage rates here.

Does 1st Security Bank Of Washington offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does 1st Security Bank Of Washington offer personal loans?

Compare personal loan rates here.

Does 1st Security Bank Of Washington offer student loans?

Will 1st Security Bank Of Washington cash a check?

Will 1st Security Bank Of Washington redeem a savings bond?

Does 1st Security Bank Of Washington cash savings bonds?

Will 1st Security Bank Of Washington cash money orders?

Can 1st Security Bank Of Washington issue a money order?

Does 1st Security Bank Of Washington do currency exchange?

Background on The Bank

Who owns 1st Security Bank Of Washington?

How long has 1st Security Bank Of Washington been around?

Can 1st Security Bank Of Washington transfer to other banks?

Does 1st Security Bank Of Washington have quick pay?

Does 1st Security Bank Of Washington accept rolled coins?

Will 1st Security Bank Of Washington accept loose change?

Where is 1st Security Bank Of Washington headquarters?

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