{"id":1365,"date":"2021-04-21T00:59:24","date_gmt":"2021-04-21T00:59:24","guid":{"rendered":"https:\/\/wabizbank.com\/?p=1365"},"modified":"2022-01-04T23:36:03","modified_gmt":"2022-01-04T23:36:03","slug":"washington-business-bank-reports-higher-q1-income-2021","status":"publish","type":"post","link":"https:\/\/wabizbank.com\/washington-business-bank-reports-higher-q1-income-2021\/","title":{"rendered":"WASHINGTON BUSINESS BANK REPORTS HIGHER Q1 INCOME (2021)"},"content":{"rendered":"<p><strong>2021 First Quarter Financial Highlights<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<ul>\n<li>First quarter 2021 net income of $424,081, 34.89% higher than first quarter 2020<\/li>\n<li>Loans outstanding grew by 19.38% over first quarter 2020<\/li>\n<li>Total Deposits increased 20.27% over first quarter 2020<\/li>\n<li>Tangible book value per share increased 11.70% over first quarter 2020<\/li>\n<li>Nonperforming assets to total assets of .07%<\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<p><strong>OLYMPIA, WA <\/strong>April 13, 2021 \u2013 Jon M. Jones, President and CEO, of Washington Business Bank today announced the results for the first quarter of 2021.\u00a0 The bank posted net income of $424,081 for the quarter ended March 31, 2021 vs. net income of $314,383 in the first quarter of 2020, a 34.89% increase.\u00a0 Earnings year-to-date represent a 1.61% Return on Average Assets (ROAA) and a 14.69% Return on Average Equity (ROAE).<\/p>\n<p>\u00a0<\/p>\n<p>Book Value of Washington Business Bank stock was $17.56 per share at the end of March 2021.\u00a0 Earnings per share (EPS) for Q1 2021 were $.63 per share, which was 34.04% higher than Q1 2020 EPS of $.47 and 34.04% higher than Q4 2020 earnings per share of $.47 per share. Washington Business Bank stock began trading under the symbol WBZB on the OTC Marketplace in April of 2019.<\/p>\n<p>\u00a0<\/p>\n<p>The Bank remains well-capitalized with a Tier 1 Capital Ratio of 16.47% at March 31, 2021.\u00a0 Loans outstanding increased in the first quarter of 2021 to $89,440,789 from $74,918,567 at the same period in 2020, an increase of 19.38%. \u00a0Total Deposits increased 20.27% to $85,322,445 in Q1 2021 from $70,942,324 in Q1 2020.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cWe are off to a very good start for the year,\u201d stated CEO Jones. \u201cOur team continues to provide our clients with the financial tools and service they need to make their comeback from the challenges of the past year.\u201d<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"577\" height=\"510\" src=\"https:\/\/wabizbank.com\/wp-content\/uploads\/2022\/01\/statements-of-income-q1-2021.png\" alt=\"\" class=\"wp-image-1616\" srcset=\"https:\/\/wabizbank.com\/wp-content\/uploads\/2022\/01\/statements-of-income-q1-2021.png 577w, https:\/\/wabizbank.com\/wp-content\/uploads\/2022\/01\/statements-of-income-q1-2021-300x265.png 300w\" sizes=\"(max-width: 577px) 100vw, 577px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"576\" height=\"322\" src=\"https:\/\/wabizbank.com\/wp-content\/uploads\/2022\/01\/statements-of-income-q1-2021-part-2.png\" alt=\"\" class=\"wp-image-1617\" srcset=\"https:\/\/wabizbank.com\/wp-content\/uploads\/2022\/01\/statements-of-income-q1-2021-part-2.png 576w, https:\/\/wabizbank.com\/wp-content\/uploads\/2022\/01\/statements-of-income-q1-2021-part-2-300x168.png 300w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"577\" height=\"584\" src=\"https:\/\/wabizbank.com\/wp-content\/uploads\/2022\/01\/balance-sheet-q1-2021.png\" alt=\"\" class=\"wp-image-1618\" srcset=\"https:\/\/wabizbank.com\/wp-content\/uploads\/2022\/01\/balance-sheet-q1-2021.png 577w, https:\/\/wabizbank.com\/wp-content\/uploads\/2022\/01\/balance-sheet-q1-2021-296x300.png 296w\" sizes=\"(max-width: 577px) 100vw, 577px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>2021 First Quarter Financial Highlights \u00a0 First quarter 2021 net income of $424,081, 34.89% higher than first quarter 2020 Loans outstanding grew by 19.38% over first quarter 2020 Total Deposits increased 20.27% over first quarter 2020 Tangible book value per share increased 11.70% over first quarter 2020 Nonperforming assets to total assets of .07% \u00a0&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - 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