Safe and Secure
Benefit from local, private ownership.
2022 Q4 Financial Results
View/Print Peoples Bank Strong Numbers - 2022 Q4
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 also well diversified between loans to consumers and businesses.
- Peoples Bank remains committed to meeting the credit needs of the local community.
- Year-to-date through December 31, 2022, Peoples Bank originated 739 mortgage loans. This equals $324 million in financing for Washington homeowners.
- Year-to-date, the Bank extended over $299 million in renewed or new loans and commitments to local businesses.
Few Non-Performing Assets
- As of the last published quarterly call report Peoples Bank’s non-performing assets were low at 0.078% of assets.
- Peoples Bank is well-capitalized at 10.39% Tier 1 Leverage Ration to average assets. This is in excess of the 9.00% ratio needed to be considered Well Capitalized for Community Banks.
Loan Loss Reserve
- Peoples Bank holds $29.6 million in its Loan Loss Reserve which equates to 1.64% of total loans the bank holds.
- Peoples Bank funds loans in our community by gathering customer deposits in the markets we serve and does not use brokered deposits or other borrowings to fund banking operations.
Local, Private Ownership
- Peoples Bank has been closely held and family managed since 1921.
- In their most recent ratings, BauerFinancial awarded Peoples Bank a superior rating of five stars.
Peoples Bank is the leading locally-owned and operated community bank meeting the financial needs of businesses and families in Whatcom, Skagit, Island, Snohomish, King, Chelan, Douglas, and Grant Counties. The Bank is closely held and operates three principal business units: business banking, retail banking and home lending. Our twenty-five locations provide customers with added convenience and the bank with a reliable source of core funding.
For over 100 years, Peoples Bank has been 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 >>