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Q2 2026 · read from the 30 June 2026 Call Report · United States · Pacific · Washington, the state note

Commencement Bank

Tacoma, Washington · $740M in assets · beside the 6 other Washington banks between $300M and $1B

The filing

0.09%
NPA / loans
1st of 7
+8.7%
Loans, year over year
1st of 7, largest first
13.4x
Coverage of noncurrent
1st of 7

Commencement Bank is the third largest of the 7 Washington banks between $300M and $1B, with $740M in assets at 30 June 2026. Loans are 84.3% of deposits, 3rd of 7 against a median of 87.0%, and equity is 9.1% of assets, 5th of 7. Loans grew +8.7% in the year, the fastest in the cohort, and deposits grew 10.0%; the cohort's median loan growth is +1.3%.

Noncurrent loans are 0.09% of the book, the lowest in the cohort against a median of 0.47%; 0.26% is 30 to 89 days past due, and the allowance covers them 13.4 times. Commercial real estate is 36.2% of loans, 3rd of 7 against a median of 41.5%, and 246% of capital, below the 300% screen, with construction at 28% against the 100% screen.

Return on assets is 0.96%, 4th of 7 against a median of 0.96%, on an efficiency ratio of 68.5%, 4th of 7. Five years ago it was 0.54%. The question is which of these lines moves first over the next four quarters, and against which peer.

Nonperforming loans, share of loansWA banks $300M to $1B · 30 June 2026 · lower is stronger, listed first
median 0.47% CB Commencement Bank 0.09% R Riverbank 0.31% BN Baker-boyer National Bank 0.42% PC Pacific Crest Bank 0.47% U Unibank 0.54% MP Mountain Pacific Bank 0.67% SB Seattle Bank 2.81%
Loans, year over yearWA banks $300M to $1B · 30 June 2026 · no better direction, largest first
median +1.3% CB Commencement Bank +8.7% MP Mountain Pacific Bank +5.7% R Riverbank +2.0% PC Pacific Crest Bank +1.3% BN Baker-boyer National Bank -4.3% U Unibank -14.9% SB Seattle Bank -17.4%

SBA 7(a), FY2008 to FY2026

Commencement Bank is the 70th largest 7(a) lender into Washington of 281, with $24M across 56 loans, 0.2% of everything approved in the state (U.S. Bank, National Association leads with $933M). 4 of its 6 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Washington, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Pierce, WA$10M38th of 1370.6%-0.2 pts
Thurston, WA$7M21st of 961.2%+2.7 pts
King, WA$3M100th of 1930.1%quiet FY2022
Kitsap, WA$2M37th of 830.5%quiet FY2015
Lewis, WA$794K27th of 480.8%quiet FY2021
Mason, WA$748K29th of 390.8%quiet FY2013
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Accommodation & food services28$9M39.3%0.01%590th of 2,596
Wholesale trade5$6M23.9%0.02%409th of 1,651
Construction4$2M9.6%0.01%868th of 2,063
Professional & technical services6$2M9.5%0.01%685th of 1,955
Manufacturing4$2M9.2%0.01%1043rd of 2,246
7(a) lenders into Washington, share of approvals since FY2008281 lenders on record; the ten largest and Commencement Bank
UB U.S. Bank, National Association 6.9% $933M · 3,630 loans CB Columbia Bank 6.7% $907M · 2,786 loans KN KeyBank National Association 5.5% $735M · 1,921 loans Bo Bank of Hope 4.9% $658M · 702 loans LO Live Oak Banking Company 4.4% $598M · 424 loans WF Wells Fargo Bank National Associa… 3.9% $518M · 1,645 loans BB Banner Bank 3.5% $467M · 2,139 loans RL Readycap Lending, LLC 3.3% $440M · 406 loans HB Heritage Bank 3.2% $437M · 947 loans U Unibank 2.8% $384M · 420 loans CB Commencement Bank 0.2% $24M · 56 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 1 CBLR filer; owner-occupied excluded; bold marks a screen met
Commencement BankRankCohort median
Total CRE against capital, the 300% screen246%3rd of 7296%
Construction against capital, the 100% screen28%3rd of 759%
Construction and land development, share of loans4.1%3rd of 78.3%
Non-owner-occupied nonfarm nonresidential, share of loans25.0%5th of 721.1%
Total CRE, the guidance definition, share of loans36.2%3rd of 741.5%
CRE growth over 36 months, the third prong+9.4%4th of 7+9.4%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Mountain Pacific Bank$896M1.4%55.7%0.67%0.00%1.9%104.9%11.5%
Seattle Bank$891M1.1%60.0%2.81%0.76%2.0%93.8%10.5%
Commencement Bank$740M1.0%68.5%0.09%0.05%1.2%84.3%9.1%
Baker-boyer National Bank$693M0.6%86.9%0.42%0.00%1.1%61.1%8.5%
Unibank$393M-0.3%139.3%0.54%-1.40%1.1%83.9%7.2%
Pacific Crest Bank$318M0.6%74.1%0.47%0.00%1.6%101.2%10.6%
Riverbank$310M1.8%57.2%0.31%0.00%1.3%87.0%10.3%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Commencement BankCohort median
20212026Change20212026Change
Loans$386M$557M+44%$368M$386M+5%
Deposits$505M$660M+31%$500M$632M+26%
NPA / loans0.83%0.09%-0.74 pts0.83%0.47%-0.36 pts
Efficiency56.3%68.5%+12.2 pts58.0%68.5%+10.5 pts
ROA0.54%0.96%+0.42 pts0.75%0.96%+0.20 pts

This read was prepared for Commencement Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Commencement Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort WA banks $300M to $1B
Institution www.commencementbank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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