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

Peoples Bank

Bellingham, Washington · $2.42B in assets · beside the 8 other Washington banks between $1B and $3B

The filing

13.3%
Equity / assets
2nd of 9
0.11%
NPA / loans
2nd of 9
-2.4%
Loans, year over year
8th of 9, largest first

Peoples Bank is the largest of the 9 Washington banks between $1B and $3B, with $2.42B in assets at 30 June 2026. Loans are 93.0% of deposits, 6th of 9 against a median of 86.4%, and equity is 13.3% of assets, 2nd of 9. Loans grew -2.4% in the year, 8th of 9, and deposits fell 0.7%; the cohort's median loan growth is +2.4%.

Noncurrent loans are 0.11% of the book, 2nd of 9 against a median of 0.35%; 0.06% is 30 to 89 days past due, and the allowance covers them 13.9 times. Commercial real estate is 38.8% of loans, 6th of 9 against a median of 37.7%, and 232% of capital, below the 300% screen, with construction at 24% against the 100% screen.

Return on assets is 0.97%, 4th of 9 against a median of 0.94%, on an efficiency ratio of 73.7%, 6th of 9. Five years ago it was 0.91%. The question is which of these lines moves first over the next four quarters, and against which peer.

Nonperforming loans, share of loansWA banks $1B to $3B · 30 June 2026 · lower is stronger, listed first
median 0.35% Bo Bank of the Pacific 0.04% PB Peoples Bank 0.11% OF Olympia Federal Savings & Loan Association 0.26% YF Yakima Federal Savings & Loan Association 0.28% CV Cashmere Valley Bank 0.35% TB Timberland Bank 0.56% RB Riverview Bank 0.80% SC Sound Community Bank 0.90% FF First Fed Bank 1.28%
Loans, year over yearWA banks $1B to $3B · 30 June 2026 · no better direction, largest first
median +2.4% CV Cashmere Valley Bank +6.3% YF Yakima Federal Savings & Loan Association +4.6% TB Timberland Bank +3.9% Bo Bank of the Pacific +3.2% RB Riverview Bank +2.4% OF Olympia Federal Savings & Loan Association +1.1% SC Sound Community Bank -1.4% PB Peoples Bank -2.4% FF First Fed Bank -3.0%

SBA 7(a), FY2008 to FY2026

Peoples Bank is the 41st largest 7(a) lender into Washington of 281, with $79M across 276 loans, 0.6% of everything approved in the state (U.S. Bank, National Association leads with $933M). 8 of its 17 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
Whatcom, WA$21M6th of 765.0%+2.5 pts
King, WA$17M46th of 1930.4%thin
Snohomish, WA$12M33rd of 1270.7%+1.2 pts
Chelan, WA$9M3rd of 506.1%+6.4 pts
Douglas, WA$5M1st of 2413.8%quiet FY2022
Skagit, WA$5M17th of 672.0%+3.5 pts
Island, WA$3M13th of 412.8%thin
Grant, WA$2M20th of 601.1%+1.0 pts
Clark, WA$1M69th of 1140.1%quiet FY2011
Lewis, WA$1M22nd of 481.0%quiet FY2008
Okanogan, WA$926K16th of 322.4%quiet FY2019
Kittitas, WA$700K33rd of 460.7%quiet FY2013
Pierce, WA$651K102nd of 1370.0%quiet FY2012
4 smaller markets not shown.
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
Construction46$18M22.6%0.06%256th of 2,063
Accommodation & food services47$12M14.9%0.02%522nd of 2,596
Wholesale trade13$12M14.5%0.05%268th of 1,651
Retail trade43$11M13.9%0.02%456th of 2,589
Other services25$7M8.2%0.02%453rd of 2,248
7(a) lenders into Washington, share of approvals since FY2008281 lenders on record; the ten largest and Peoples 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 PB Peoples Bank 0.6% $79M · 276 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; Tier 1 stands in for the 5 CBLR filers, Peoples Bank among them; owner-occupied excluded; bold marks a screen met
Peoples BankRankCohort median
Total CRE against capital, the 300% screen232%5th of 9232%
Construction against capital, the 100% screen24%5th of 924%
Construction and land development, share of loans4.0%6th of 93.9%
Non-owner-occupied nonfarm nonresidential, share of loans23.1%6th of 921.5%
Total CRE, the guidance definition, share of loans38.8%6th of 937.7%
CRE growth over 36 months, the third prong+4.6%5th of 9+4.6%

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
Peoples Bank$2.42B1.0%73.7%0.11%0.00%1.5%93.0%13.3%
Cashmere Valley Bank$2.32B1.1%61.4%0.35%0.38%1.1%52.6%11.1%
First Fed Bank$2.11B0.2%94.7%1.28%0.04%1.0%100.0%8.6%
Timberland Bank$2.06B1.5%53.9%0.56%0.00%1.3%86.0%13.2%
Yakima Federal Savings & Loan Association$2.00B0.9%52.4%0.28%0.00%0.6%66.6%27.7%
Riverview Bank$1.47B-0.8%83.2%0.80%0.19%1.4%86.4%11.4%
Bank of the Pacific$1.26B1.1%70.0%0.04%0.02%1.2%69.2%11.0%
Sound Community Bank$1.07B0.9%71.9%0.90%0.01%0.9%95.4%11.0%
Olympia Federal Savings & Loan Association$1.02B0.4%84.0%0.26%0.00%0.6%121.7%11.6%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Peoples BankCohort median
20212026Change20212026Change
Loans$1.83B$1.94B+6%$889M$1.03B+16%
Deposits$2.39B$2.08B-13%$1.47B$1.37B-7%
NPA / loans0.23%0.11%-0.12 pts0.20%0.35%+0.15 pts
Efficiency70.8%73.7%+2.9 pts65.1%71.9%+6.8 pts
ROA0.91%0.97%+0.06 pts1.13%0.94%-0.19 pts

This read was prepared for Peoples 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 Peoples 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 $1B to $3B
Institution www.peoplesbank-wa.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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