1st Security Bank of Washington
Mountlake Terrace, Washington, Snohomish County
$3.2B in total assets, the 419th largest of 4,309 US banks and 6th of 29 headquartered in Washington.
- FDIC certificate
- 57633
- Established
- 2004
- Owned by
- Fs Bcorp Inc
- Primary regulator
- FDIC
- Website
- WWW.FSBWA.com
At a glance
Compared with 11 banks headquartered in Washington with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $3.2B | 82% | $2.1B | |
| Loans | $2.7B | 82% | $1.1B | |
| Deposits | $2.5B | 82% | $1.6B | |
| Return on assets | 1.14% | 73% | 0.90% | |
| Net interest margin | 4.46% | 91% | 3.70% | |
| Efficiency ratio | 63.1% | 27% | 70.0% | |
| Equity to assets | 11.42% | 54% | 11.38% | |
| Loans to deposits | 109% | 91% | 86% |
Growth
Total assets grew 7.4% a year over the last 5 years and 15.0% a year over 10 years, including 1 acquisition in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Nov 2018 | Anchor Bank Aberdeen, WA | $478M |
Where they operate
30 branches in 13 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Snohomish County, WA | $799M | 4.0% | 7 of 22 |
| Grays Harbor County, WA | $265M | 18.5% | 3 of 7 |
| Clallam County, WA | $256M | 9.3% | 4 of 10 |
| Jefferson County, WA | $233M | 25.0% | 1 of 7 |
| King County, WA | $161M | 0.2% | 24 of 38 |
| Lincoln County, OR | $131M | 10.5% | 4 of 8 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 22 branches since 2016 (8 to 30, +275.0%). 13 opened, 10 acquired, 1 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 8 | |||
| 2016 | Opened 4 in Washington | 4 | 0 | +4 | 12 |
| 2018 | Acquired Anchor BankOpened Silverdale | 11 | 0 | +11 | 23 |
| 2022 | Closed Centralia | 0 | 1 | −1 | 22 |
| 2023 | Opened 7 in 2 states | 7 | 0 | +7 | 29 |
| 2026 through Q2 | Opened Kennewick | 1 | 0 | +1 | 30 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 30% | 31% | |
| Consumer | 21% | 10% | |
| Construction and land | 15% | 5% | |
| Commercial real estate | 14% | 31% | |
| Multifamily | 10% | 11% | |
| Business (C&I) | 8% | 7% | |
| Agricultural | 0% | 1% | |
| Other | 1% | 3% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Time deposits | 39% | 26% | |
| Other interest-bearing | 34% | 54% | |
| Noninterest-bearing | 27% | 21% |
Brokered deposits are 5.1% of deposits (peers 0.7%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.58% | 0.35% |
| Net charge-offs, annualized | 0.44% | 0.02% |
| Reserves to loans | 1.16% | 1.12% |
| Leverage ratio | 11.44% | 10.99% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Washington
Largest competitors in Snohomish County, WA
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/1st-security-washington