Seattle Bank
Seattle, Washington · $891M in assets · beside the 6 other Washington banks between $300M and $1B
The filing
Seattle Bank is the second largest of the 7 Washington banks between $300M and $1B, with $891M in assets at 30 June 2026. Loans are 93.8% of deposits, 5th of 7 against a median of 87.0%, and equity is 10.5% of assets, 3rd of 7. Loans grew -17.4% in the year, the slowest in the cohort, and deposits fell 12.3%; the cohort's median loan growth is +1.3%.
Noncurrent loans are 2.81% of the book, the highest in the cohort against a median of 0.47%; 0.23% is 30 to 89 days past due, and the allowance covers them 0.7 times. Net charge-offs are 0.76% of loans, the highest in the cohort. Commercial real estate is 24.1% of loans, 2nd of 7 against a median of 41.5%, and 175% of capital, below the 300% screen, with construction at 61% against the 100% screen.
Return on assets is 1.08%, 3rd of 7 against a median of 0.96%, on an efficiency ratio of 60.0%, 3rd of 7. Five years ago it was 0.67%. The question is where the nonperforming loans sit by category, and whether the allowance and the capital behind them hold under a loss path.
Commercial real estate against capital
| Seattle Bank | Rank | Cohort median | |
|---|---|---|---|
| Total CRE against capital, the 300% screen | 175% | 2nd of 7 | 296% |
| Construction against capital, the 100% screen | 61% | 5th of 7 | 59% |
| Construction and land development, share of loans | 8.4% | 5th of 7 | 8.3% |
| Non-owner-occupied nonfarm nonresidential, share of loans | 5.6% | 1st of 7 | 21.1% |
| Total CRE, the guidance definition, share of loans | 24.1% | 2nd of 7 | 41.5% |
| CRE growth over 36 months, the third prong | +17.4% | 6th of 7 | +9.4% |
Among its peers
| Institution | Assets | ROA | Efficiency | NPA / loans | Net charge-offs | Allowance / loans | Loans / deposits | Equity / assets |
|---|---|---|---|---|---|---|---|---|
| $896M | 1.4% | 55.7% | 0.67% | 0.00% | 1.9% | 104.9% | 11.5% | |
| $891M | 1.1% | 60.0% | 2.81% | 0.76% | 2.0% | 93.8% | 10.5% | |
| $740M | 1.0% | 68.5% | 0.09% | 0.05% | 1.2% | 84.3% | 9.1% | |
| $693M | 0.6% | 86.9% | 0.42% | 0.00% | 1.1% | 61.1% | 8.5% | |
| $393M | -0.3% | 139.3% | 0.54% | -1.40% | 1.1% | 83.9% | 7.2% | |
| $318M | 0.6% | 74.1% | 0.47% | 0.00% | 1.6% | 101.2% | 10.6% | |
| $310M | 1.8% | 57.2% | 0.31% | 0.00% | 1.3% | 87.0% | 10.3% |
| Seattle Bank | Cohort median | |||||
|---|---|---|---|---|---|---|
| 2021 | 2026 | Change | 2021 | 2026 | Change | |
| Loans | $613M | $736M | +20% | $368M | $386M | +5% |
| Deposits | $557M | $785M | +41% | $500M | $632M | +26% |
| NPA / loans | 4.89% | 2.81% | -2.08 pts | 0.83% | 0.47% | -0.36 pts |
| Efficiency | 68.7% | 60.0% | -8.6 pts | 58.0% | 68.5% | +10.5 pts |
| ROA | 0.67% | 1.08% | +0.41 pts | 0.75% | 0.96% | +0.20 pts |
This read was prepared for Seattle 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 Seattle Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.
Ask for the packPrepared 7 September 2026
Filing 30 June 2026
Cohort WA banks $300M to $1B
Institution www.seattlebank.com
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