washington business bank

Jon M. Jones, President and CEO, of Washington Business Bank recently announced the results for the second quarter of 2021.  The bank posted net income of $352,904 for the quarter ended June 30, 2021 vs. net income of $423,326 in the second quarter of 2020, a 16.63% decrease.  


Year-to-date earnings through June 2021 were $777,000.  This was 5.33% higher than the year-to-date June 2020 earnings of $737,700.   Earnings year-to-date represent a 1.48% Return on Average Assets (ROAA) and a 13.11% Return on Average Equity (ROAE). 


Book Value of Washington Business Bank stock was $17.61 per share at the end of June 2021.  Earnings per share (EPS) for Q2 2021 were $.51 per share, which was 19.05% lower than Q2 2020 EPS of $.63 and 19.05% lower than Q1 2021 EPS of $.63 per share. EPS for the six months ending June 30, 2021 were $1.14, which was 4.59% higher than EPS for the six months ending June 30, 2020. Washington Business Bank stock trades under the symbol WBZB on the OTC Marketplace.


The Bank remains well-capitalized with a Tier 1 Capital Ratio of 17.57% at June 30, 2021.  The Bank continues to experience loan payoffs from the forgiveness of PPP Loans.  Loans outstanding decreased in the second quarter of 2021 to $85,181,617 from $88,144,956 at the same period in 2020, a decrease of 3.36%.  Total Deposits increased 10.47% to $85,654,068 in Q2 2021 from $77,532,000 in Q2 2020.    


“2021 continues to be a good year,” stated CEO Jones. “The downtown improvement project at our corner of 5th & Franklin is nearing completion and we have welcomed clients back into our lobby.”      


2021 Second Quarter Financial Highlights

  • Second quarter 2021 net income of $352,904 
  • YTD earnings of $777,000, 5.33% higher than YTD June 2020 
  • Total Deposits increased 10.47% over second quarter 2020
  • Tangible book value per share increased 9.25% over second quarter 2020
  • Nonperforming assets to total assets of 0%



Other News

Upcoming Events

Picture your ad here!

Picture your ad here

Both rectangle and banner ad spaces are available for members. Download our sizes and pricing sheet for more information by clicking the button below.