We’re not done with the troubled-bank story yet. A Seattle Times analysis today by Drew DeSilver says that “At least a dozen of the 52 Washington-based banks examined are carrying heavy loads of past-due loans, defaults and foreclosed properties relative to their financial resources. Many of these banks have set aside relatively little cash to cover problem loans, the analysis shows.”
The banks cited include Anchor Mutual Savings Bank at Aberdeen, Horizon Bank at Bellingham, Evergreen Bank at Seattle, and Venture Bank at Lacey. But there are others too. (Interesting that the overlap with the list of federal stabilizing funds recipients doesn’t seem to overlap much.)
There’s also an interactive chart showing where the banks sit according to a number of measures of stability. With the caveat that no single set of numbers are solid indicators, the eye naturally goes nonetheless to the comprehensive risk ratio, which (roughly) indicates how bad assets stack up against good ones. You see there why some of the aforementioned banks get some of the attention they do. Westsound of Bremerton has the highest CRR at 282.5%; Venture at Lacey is at 172%; City Bank at Lynnwood at 171%; Frontier Bank at Everett at 126%; Shoreline Bank at Shoreline at 120%; Seattle Savings Bank at 117%; Horizon Bank at Bellingham at 110%; North County Bank at Arliington at 103%.
None of this is totally current; most of the information seems to be as-of the end of last year. But it gives you an idea of what headlines might be emerging in the months ahead.Share on Facebook