Whidbey Island Bank
Coupeville, WA — Domestic Branch of a Domestic Bank
Acquired May 2014
Vitals
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Total Assets1.7B 1.1 %
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Total Deposits1.5B 1.4 %
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Total Net Loans1.0B -1.8 %
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Net Income4.7M -3.3 %
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Book Value205.2M 1.5 %
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Book Value x2410.4M 1.5 %
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Book Value x3615.6M 1.5 %
Balance Sheet Highlights
| Financial Highlights | Whidbey Island Bank | All Insured Commercial Banks in Washington |
| Balance Sheet $(000) | ||
| Total Assets | 1,684,640 | 767,119 |
| Total Net Loans | 1,014,520 | 506,712 |
| Total Deposits | 1,466,823 | 652,636 |
| Total Equity | 205,216 | 91,460 |
| Profitability | ||
| Net Income | 4,697 | 1,587 |
| Return on Average Assets | 1.13 | .528 |
| Return on Average Equity | 9.309 | 4.343 |
| Net Interest Margin | 4.26 | 3.889 |
| Efficiency Ratio | 76.798 | 78.033 |
| Noninterest Income/Revenue | 19.947 | 15.856 |
| Balance Sheet Ratios | ||
| Loan-to-Deposit | 69.164 | 78.245 |
| Securities/Assets | .267 | .177 |
| Total Equity/Total Assets | .122 | .119 |
| Tangible Equity/Tangible Assets | .119 | .112 |
| Capital Adequacy | ||
| Tier 1 Common Capital | — | — |
| Tier 1 Capital | 203,059 | 77,266 |
| Tier 2 Capital | 14,355 | 6,716 |
| Total Capital | 217,414 | 83,978 |
| Total Risk Weighted Assets | 1,134,176 | 566,856 |
| Leverage Ratio | 12.25 | 10.4 |
| Common Equity Tier 1 Capital Ratio | — | — |
| Tier 1 Capital Ratio | 17.9 | 14.677 |
| Total Capital Ratio | 19.17 | 15.924 |
Timeline for Whidbey Island Bank
North County Bank
Acquisition: Whidbey Island Bank acquired a new subsidiary, North County Bank, 13 years
View Profile Sep 25 2010
City Bank
Acquisition: Whidbey Island Bank acquired a new subsidiary, City Bank, 14 years
View Profile Apr 17 2010
Rural One Llc
Rural One Llc became a new subsidiary organization for Whidbey Island Bank.
View Profile Sep 28 2006
Washington Banking Company
Washington Banking Company became a new parent organization for Whidbey Island Bank.
View Profile May 01 1996
| Acquisitions & Mergers | Role | Assets | Acct Method | Type | Transaction Date |
| Heritage Bank | Buyer | 3,843,504 | Acquisition | Discontinued | 5/1/2014 |
| North County Bank | Seller | 288,776 | Failure | 9/25/2010 | |
| City Bank | Seller | 981,913 | Failure | 4/17/2010 |
| Relationships | Role | Relationship Start | Relationship End |
| Washington Banking Company | Parent | 5/1/1996 | 4/30/2014 |
| Rural One Llc | Subsidary | 9/28/2006 | 10/18/2013 |
| Wib Financial Services, Inc. | Subsidary | 5/1/1996 | 7/1/2005 |
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