FSWA Stock - First Sound Bank
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Financial Statements
| Metric | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|
| Revenue | $8.68M | $6.33M | $5.98M | $5.35M | $4.98M |
| Gross Profit | $8.68M | $6.33M | $5.98M | $5.35M | $4.98M |
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Income | $6.99M | $596,000 | $549,000 | $356,000 | $59,000 |
| Net Income | $93,000 | $596,000 | $2.34M | $-206,000 | $40,000 |
| Net Margin | 1.1% | 9.4% | 39.2% | -3.9% | 0.8% |
| EPS | $0.03 | $0.19 | $0.74 | $-0.07 | $0.01 |
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.
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