Q4 2018 Highlights

 

  • 4th quarter 2018 net income 24% higher than 3rd quarter 2018 at $239,750
  • Year-end 2018 record net income of $776,551
  • Loans outstanding grew by 11.35% over 2017
  • Total Deposits grew 12.70% over 2017
  • Bank remains well-capitalized at 13.87% Tier 1 Capital

 

OLYMPIA, WA January 15, 2019 – Jon M. Jones, President and CEO, of Washington Business Bank today announced the results for the 4th quarter and year-end 2018.  The bank posted a net income of $239,750 for the quarter ended December 31, 2018.  Fourth quarter income was 24% higher than the 3rd quarter.

 

Year-end December 2018 earnings were $776,551.  Earnings year-to-date represent a .94% Return on Average Assets (ROAA) and an 8.45% Return on Average Equity (ROAE).

 

The Bank remains well-capitalized with a Tier 1 Capital Ratio of 13.87% at December 31, 2018.  Loans outstanding increased in the 4th quarter of 2018 to $76,053,500 from $68,300,500 at the same period in 2017, an increase of 11.35%.  Total Deposits increased 12.70% to $72,356,000 in Q4 2018 over $64,199,000 in Q4 2017.

 

“Best year yet!” stated CEO Jones. “Two years in a row with double digit increases in loans and deposits.  We are proud that more members of the community value our local ownership and our great team of banking experts.”