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Benefit from local, private ownership.
2021 Q1 Financial Results
View/Print Peoples Bank Strong Numbers - 2021 Q1
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 March 31, 2021, Peoples Bank originated 620 mortgage loans. This equals $195 million in financing for Washington homeowners.
- Year-to-date, the Bank extended over $77 million in new loans and commitments to local businesses.
- Under the Small Business Administration Program, Peoples Bank made 1,048 Paycheck Protection Loans in 2021. This provided $112 million in assistance to small businesses, impacting nearly 12,000 jobs in our local communities.
Few Non-Performing Assets
- As of the last published quarterly call report Peoples Bank’s non-performing assets were low at 0.25% of assets.
- Peoples Bank is well-capitalized at 9.44% equity capital to average assets. Netting out the effect of Paycheck Protection Loans this ratio is 10.02%.
- Peoples Bank funds loans in our community by gathering customer deposits in the markets we serve and does not use brokered deposits 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.
Access the details here: Peoples Bank Strong Numbers - 2021 Q1>>
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, and Douglas Counties. The Bank is closely held and operates
three principal business units: business banking, retail banking and home lending. Our twenty-three branches and one loan
production office 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 >>