Seattle Bank


401 Union Street
Seattle, WA 98101
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Notable Rates APY Vs.Others
Savings N.A. 5.55% →
1-Year CD 5.25% 5.41% →
2-Year CD 4.75% 5.00% →
5-Year CD 4.50% 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Seattle Bank is an FDIC insured institution located in Seattle, WA. It was founded in 1999 and has approximately $0.86 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 35139
Date Established 1999
Assets $ 855.97 million
Loans $ 735.80 million
Deposits $ 744.97 million
Capital $ 94.11 million

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

Deposit Rates - April 17, 2024

Your Current Location: Virginia, VA 20146

12 Month
5.25% $1,000 - Learn More
18-Month CD
5.00% $1,000 - Learn More
24 Month
4.75% $1,000 - Learn More
36 Month
4.65% $1,000 - Learn More
48 Month
4.55% $1,000 - Learn More
60 Month
4.50% $1,000 - Learn More

Loan Rates - April 17, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Seattle Bank

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

Featured - Virginia 30 Year Fixed Mortgage Rates 2024

Lender APR Rate (%) Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
7.463% 7.375%
0.88 points
$2,800 fees
$2,211 Learn More
NMLS ID: Not a Lender

Learn More
NMLS ID: Not a Lender

Learn More
Neighbors Bank
NMLS ID: 491986

Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.490 %
$0 Learn More
More Info

Note to Seattle Bank
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Climate Policy and Initiatives

Seattle Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

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Financial Details

Seattle Bank Ratio Analysis

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

Texas Ratio
Seattle Bank U.S. Bank Average
28.27% 3.96%

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, 2024, Seattle Bank had $27,861,000 in non-current loans and $9,047,000 in owned real estate. To cover these potential losses it had $94,106,000 in equity and $36,469,000 in loans loss reserves. That gives it a Texas Ratio of 28.27%.

Return on Equity
Seattle Bank U.S. Bank Average
9.38% 12.20%

Seattle Bank has a Return on Equity of 9.38% versus the BestCashCow average of 12.20%. 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.

Seattle Bank U.S. Bank Average
10.99% 10.76%

Seattle Bank has a Capitalization of 10.99% versus the BestCashCow average of 10.76. 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.

Seattle Bank Balance Sheet Analysis

As of December 31, 2023, Seattle Bank had assets of $855,974,000, loans of $735,799,000, and deposits of $744,968,000. 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, 2024
Cash & Balances due from depository institutions $ 62.48 million
Interest-bearing balances $ 61.83 million
Total securities $ 27.23 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 735.80 million
Loan loss allowance $ 36.47 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 9.05 million
Goodwill and other intangibles N.A.
All other assets $ 12.47 million
     Total Assets $ 761.87 million
Total deposits $ 744.97 million
      Interest-bearing deposits $ 684.43 million
      Deposits held in domestic offices $ 744.97 million
      % insured (estimated) 77.99%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 85.00 million
Subordinated debt N.A.
All other liabilities $ 9.29 million
      Total Liabilities $ 761.87 million
      Shareholders’ Equity $ 94.11 million

Summary Income Statement

December 31, 2024
Total Interest Income $ 63.07 million
Total Interest Expense $ 20.24 million
Net interest income $ 42.83 million
Provision for loan and lease losses $ 6.18 million
Total non interest income $ 0.12 million
Total non interest expense $ 25.50 million
Pre-tax Net Operating Income $ 7.26 million

Bank Loan Profile?

The top three loan types in Seattle Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial and Industrial Loans, and Multifamily Mortgages.

Compared to other banks in Washington, Seattle Bank has a significantly higher percent of 1-4 Family Residential 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 44.41
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.57
Construction and Development Loans 2.67
Commercial Real Estate 5.33
Commercial and Industrial Loans 7.59
Farm Loans 0.00

Customer Reviews for Seattle Bank

  • November 21, 2023 |

    A real pain in the *** process to try and get approved! They were unable to match my drivers license photo with my live image after several times trying! Went to limelight bank instead and got approved in under 5 minutes total! Go to limelight bank instead!

  • November 16, 2023 |

    CDs 18 Month Rates

    Be warned, this is not a conventional online bank. That means there will be a delay in funding your account. It also means that at maturity they will not immediately transfer your principal and interest bank to the funding account. Rather they will charge you helty snail mail or wire transfer fees (and there is no savings account that you could transfer your assets to in the interim. Long and short, your effective interest rate, even if held to maturity is much lower than advertised. You will also encounter poor customer service should you need it. As attractive as the 18-month and 24-month rates are at the moment, I would avoid, especially if I was not local to a branch in Seattle.

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