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2020 Q2 Financial Results
View/Print Peoples Bank Strong Numbers - 2020 Q2
Financial Highlights that drive Peoples Bank’s top performance:
- Peoples Bank maintains a diversified loan portfolio to minimize risk. In order to do this, geographic, collateral, and industry concentrations are closely monitored to help the Bank maintain appropriate risk exposures.
- Peoples Bank is well capitalized at 11.43% equity capital to average assets.
- Peoples Bank funds loans in our community by gathering customer deposits in the markets we serve and does not use brokered deposits to fund Bank operations.
- Peoples Bank remains committed to meeting the credit needs of the local community.
- Home Lending – Year to date, the Bank has provided $292 million in financing to 896 homeowners for purchase or refinance.
- Business Lending – Year to date, the Bank extended over $132 million in new loans and commitments to local businesses.
- PPP Loans – Year to date, the Bank has helped over 1,700 businesses obtain over $225 million, impacting more than 20,000 jobs in our local communities.
The Bank’s portfolio performance, as measured by non-current loans and leases, continues to be stronger than industry averages. As of the last published quarterly call report on 3/31/20, the Washington State average for non-performing assets was 0.34% of total assets. As of 3/31/20, Peoples Bank’s non-performing assets were 0.25% of total assets. Non-performing assets include loans 90 days or more past due or in nonaccrual status and other real estate owned by the Bank.
Since 1921, Peoples Bank has been closely held and family managed. We are proud of our heritage as an independent community bank. Headquartered in Bellingham, Washington, today, the Bank operates 23 branches and one loan production office serving consumers and businesses throughout Washington.
At Peoples Bank, we’re actively engaged in strengthening, energizing, and supporting our communities. Learn more at peoplesbank-wa.com/giving.
Peoples Bank is a Member FDIC. Learn more about FDIC insurance >>