The number of state chartered banks in Washington fell by five – to a total of 54 - between the end of 2012 and the end of 2013, the Federal Deposit Insurance Corp. reported this week. Meanwhile, the number of employees working at those state institutions rose from 11,704 to 12,804.
Among other data in the FDIC report:
• Net income fell from $803 million to $462 million over the year, but still bettered the figure reported at the end of 2011, at $185 million.
• Total assets rose in 2013 from $45.4 billion to $52.6 billion.
• The value of total loans and leases rose from $30.9 billion to $35.7 billion.
• Total deposits rose from $36.6 billion to $42.3 billion.
• The efficiency ratio, or generally the cost to produce one dollar of revenue, declined from 0 .60 to 0.40. The lower the number, the more efficient the bank.
• The net interest margin fell from 4.13 percent to 4.05 percent over the year.
• Net charge-offs to loans and leases fell dramatically from 0.64 percent to 0.18 percent - an indication of improving loan quality.
• The percentage of troubled loans and leases fell from 2.54 percent in 2013 to 1.42 at the end of last December.
• The percentage of unprofitable institutions fell from a high of 32.76 at the end of 2011 to 20.34 percent at the close of 2012, and to 14.81 percent at the end of 2013, the FDIC reported.