First Sound Bank provides various banking products and services for individuals, small and medium-sized businesses, not-for-profit organizations, entrepreneurs, and professional service firms in Western Washington. The company's deposit products include checking, savings, money market, and sweep accounts. It also offers consumer loans comprising personal loans, ready cash line of credit, and home equity lines of credit; and commercial loans, such as lines of credit, commercial real estate loans, export activity and foreign receivables, investment property loans, and small business administration loans, as well as cash flow solutions. In addition, the company provides cash management services; and international services, including import and export letters of credit, standby letters of credit, documentary collections, and foreign exchange services, as well as international remittances, drafts, and wires. Further, it offers Sound eCapture services that allow its customers to scan checks, create digital deposits, and transmit for account clearing and posting. Additionally, the company provides equipment financing; and ATM card, debit card, credit card, merchant, mobile and online banking, and courier services. It operates through a branch in downtown Seattle, Washington. The company was founded in 2004 and is headquartered in Seattle, Washington.

First Sound Bank

First Sound Bank is a community bank providing commercial banking services for small to medium sized businesses, not-for-profit organizations, entrepreneurs, and professional service firms throughout the Puget Sound market.

First Sound Bank | 483 followers on LinkedIn. Experienced. Innovative. Sound. | First Sound Bank is committed to delivering personalized services, convenient access, and competitive rates to support the needs of the local business community.
  
First Sound Bank was chartered by the State of Washington in July 2004 with the largest initial capital base of any de novo in the Pacific Northwest at the time. Multiple bank mergers and the shrinking availability of local banking service centers compelled the founders to create a business bank that caters to small and medium-sized businesses, not-for-profit organizations, entrepreneurs, professionals, and service companies.

	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23
revenue	4.98M -	5.35M 7.41%	5.98M 11.82%	6.33M 5.77%	8.68M 37.26%
cost of revenue
gross profit	4.98M -	5.35M 7.41%	5.98M 11.82%	6.33M 5.77%	8.68M 37.26%
selling and marketing expenses	2.83M -	3.05M 7.99%	2.96M 3.14%	3.27M 10.65%
general and administrative expenses	805K -	724K 10.06%	748K 3.31%	657K 12.17%
selling general and administrative expenses	3.63M -	3.78M 3.99%	3.71M 1.91%	3.93M 6.05%
research and development expenses
other expenses	-1.63M -	-1.98M 21.46%	-1.86M 6.31%	-1.54M 16.92%	-1.70M 9.99%
cost and expenses	4.94M -	5.55M 12.45%	5.43M 2.21%	5.73M 5.49%	8.59M 49.92%
operating expenses	1.63M -	1.98M 21.46%	1.86M 6.31%	1.54M 16.92%	1.70M 9.99%
interest expense	1K -	37K 3,600%	144K 289.19%	300K 108.33%
ebitda	-19K -	-562K 2,857.89%	3.59M 738.43%	31K 99.14%
operating income	59K -	356K 503.39%	549K 54.21%	596K 8.56%	6.99M 1,072.15%
depreciation and amortization	51K -	55K 7.84%	50K 9.09%	31K 38%	167.90K 441.60%
total other income expenses net	40K -	-206K 615%	549K 366.50%	596K 8.56%	93K 84.40%
income before tax	40K -	-206K 615%	549K 366.50%	596K 8.56%	93K 84.40%
income tax expense	-70K -	-617K 781.43%	-1.79M 190.76%
net income	40K -	-206K 615%	2.34M 1,237.38%	596K 74.56%	93K 84.40%
weighted average shs out	3.15M -	3.15M 0%	3.15M 0%	3.15M 0%	3.15M 0%
weighted average shs out dil	3.17M -	3.15M 0.51%	3.16M 0.24%	3.18M 0.49%	3.15M 0.73%
eps	0.01 -	-0.07 614.17%	0.74 1,233.23%	0.19 74.32%	0.03 84.47%
epsdiluted	0.01 -	-0.07 618.25%	0.74 1,233.23%	0.19 74.32%	0.03 84.47%

COM:FIRSTSOUNDBANK

First Sound Bank

Last Close

6.67

05/04 16:23

Market Cap

1.51M

Beta: -

Volume Today

200

Avg: -

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