Sound Banking Company
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Data as of · sourced from FFIEC call reports. How we update
Sound Banking Company is an FDIC-insured commercial bank headquartered in Lakewood, WA, established in 1990 (FDIC certificate 33183), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $45.2M, down 12.1% from Q2 2025, the 29th largest of 29 banks headquartered in Washington. Its CET1 capital ratio was 15.27% at Q2 2026, comfortably above the 7% level required once the capital conservation buffer is included.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 33183
- Headquarters
- Lakewood, WA
- Established
- 1990
- Total assets, Q2 2026
- $45.2M
- Assets vs Q2 2025
- -12.1%
- CET1 ratio, Q2 2026
- 15.27%
- Domestic offices
- 1 FDIC institution directory, current count
- Routing number
- 125108175
- Asset rank in state
- 29th of 29 in Washington
Sound Banking Company is one of the more profitable banks of its size. It reported $45 million in assets at June 30, 2026, down 12.1% from a year earlier. It earns about $2.70 a year on every $100 of assets, 2.5 times the median of $1.06 for the 583 banks with less than $100 million in assets. It also keeps 6.97 cents of net interest income on every dollar of earning assets, about double the median of 3.87 cents for banks its size.
Net income for the quarter slipped 22% from a year earlier, to $303,000. Over the same year, loans shrank 2.0% and deposits shrank 13.7%. Concentration is the risk to watch: it holds commercial real estate loans worth 2.2 times its capital, 8.4 times the median of 26% for banks its size.
As of June 30, 2026, Sound Banking Company reported a CET1 capital ratio of 15.27%, a return on assets of 2.70%, a nonperforming-loan ratio of 0.00% and a Texas ratio of 0.00%. The figures come from its call report filed with the FFIEC.
Sound Banking Company ranks as the smallest of the 29 banks based in Washington, by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 6.6% to $45.2M, loans rose 7.4% and deposits rose 8.6%. Its loan book on June 30, 2026 was led by 1-4 family residential loans, at 40.7% of total loans, followed by owner-occupied commercial real estate loans at 19.6%. Its one office in the FDIC Summary of Deposits is in Lakewood, WA. By the capital ratios in its Q2 2026 call report, Sound Banking Company meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 6107 Lake Grove St Sw, Lakewood, WA 98499
- County
- Pierce
- Metro Area
- Seattle-Tacoma-Bellevue, WA
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- San Francisco (Region 14)
- Federal Reserve member
- No
- Federal Reserve district
- District 12, San Francisco
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- November 1, 1990
- Domestic offices
- 1 FDIC institution directory, current count
- Employees (FTE)
- 5
- Domestic deposits
- $39.6M
- Allowance for credit losses
- $621K
- Net charge-offs (YTD)
- $13K
- Average total assets
- $44.9M
- Average total loans
- $38.1M
- Average interest-bearing deposits
- $26.3M
- Tax status
- Subchapter S
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- November 1, 1990
- FDIC Cert
- 33183
- Fed RSSD
- 1494482
- Website
- www.soundbankingco.com →
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, Sound Banking Company's total assets ran between $42.4M (Q1 2026) and $52.0M (Q1 2025), and it earned a profit in 10 of the 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$45.2M total assets against $51.4M; $39.8M total liabilities against $46.0M.
$38.2M net loans and leases against $39.0M; $39.6M total deposits against $45.9M.
$0 securities against $0; $2.0M cash and balances due against $7.6M.
$822K total interest income against $907K; $131K total interest expense against $140K.
$691K net interest income against $767K.
$54K total noninterest income against $49K; $442K total noninterest expense against $428K.
No provision recorded in the last 12 quarters.
$303K net income against $388K.
2.70% return on assets against 3.25%; 6.97% net interest margin against 7.21%.
15.27% CET1 capital ratio against 13.80%; 12.08% tier 1 leverage ratio against 11.30%.
Inside the full Sound Banking Company terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
Sound Banking Company rankings
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from -0.06% (Q4 2025) to 3.25% (Q2 2025) and its net interest margin ran from 5.68% (Q4 2024) to 7.21% (Q2 2025).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 15.27% | 2.70% | 0.00% | 0.00% | 6.97% |
| Q1 2026 | 16.84% | 2.31% | 0.04% | 0.23% | 6.60% |
| Q4 2025 | 14.13% | -0.06% | 0.04% | 0.24% | 6.59% |
| Q3 2025 | 14.10% | 2.68% | 0.04% | 0.25% | 6.51% |
| Q2 2025 | 13.80% | 3.25% | 0.04% | 0.28% | 7.21% |
| Q1 2025 | 14.79% | 1.96% | 0.04% | 0.27% | 5.68% |
| Q4 2024 | 14.25% | 0.46% | 0.05% | 0.33% | 5.68% |
| Q3 2024 | 14.02% | 2.29% | 0.00% | 0.00% | 5.78% |
Swipe the table sideways to see every column.
Branch Network
View the branch → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Sound Banking Company (main office) | Lakewood , WA | 98499 | $39.6M |
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- <0.1% of deposits in WA, rank 56 of 61 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Not on file
- Enforcement actions, Mortgage lending (HMDA), SBA 7(a) lending, Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Sound Banking Company
What are Sound Banking Company's total assets?
As of the Q2 2026 filing, Sound Banking Company reported total assets of $45.2 million in its FFIEC call report.
Where is Sound Banking Company headquartered?
It is headquartered in Lakewood, WA, United States.
When was Sound Banking Company founded?
It was established in 1990, per the FDIC institution directory.
Is Sound Banking Company FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #33183). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Sound Banking Company?
Sound Banking Company's primary federal regulator is the FDIC.
What is Sound Banking Company's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 15.27% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does Sound Banking Company operate?
It operates 1 domestic office, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Sound Banking Company's Texas Ratio?
Its Texas Ratio is 0.00% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
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