Westsound Bank
Bremerton, WA · Owner: WSB Financial Group Inc
$335M
total assets, March 31, 2009
$335M
total assets, March 31, 2009
Westsound Bank was a state nonmember bank in Bremerton, WA, owned by WSB Financial Group Inc. It failed on May 8, 2009, and Kitsap Bank took over its deposits. At its last report it held $334.6 million in assets.
Updated Oct 11, 2026 · numbers as of March 31, 2009
This bank failed
- Failed on
- May 8, 2009
- Assets
- $335M
- Deposits
- $304M
- Estimated cost
- $81.0M
- Deposits went to
- Kitsap Bank, Port Orchard, WA
Total assets
$335M
-33.5% in a year · -8.3% in a quarter
Deposits
$304M
-31.1% in a year · -7.8% in a quarter
Loans
$260M
-32.7% in a year · -8.6% in a quarter
Profit so far
-$4.3M
Jan 1 to Mar 31, 2009
Capital ratio
8.02%
-3.46 pts in a year
Return on assets
-4.94%
-0.36 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 607 Pacific Avenue, Bremerton, WA, 98337
- County
- Kitsap
- Holding company
- WSB Financial Group Inc
- Established
- Mar 12, 1999
- Failed
- May 8, 2009
- Employees
- 92
- Branches
- 9
- Id
- b34843
Quarter by quarter
March 31, 1999 to March 31, 2009
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Westsound Bank?
$334.6 million in total assets and $304.5 million in deposits as of March 31, 2009, with assets down 33.5% from a year before. Its loans were $259.7 million.
How many branches does Westsound Bank have?
9 branches in Washington as of June 30, 2026.
Is Westsound Bank profitable?
No: it lost $4.32 million from January 1 to March 31, 2009. Its return on assets was -4.94% a year; about 1% is typical.
Who owns Westsound Bank?
Westsound Bank is owned by WSB Financial Group Inc, its holding company.
When did Westsound Bank fail?
May 8, 2009. Kitsap Bank of Port Orchard, WA took over its deposits. The estimated cost of the failure was $81.0 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.