State-chartered banks in Washington continue to downsize both total assets and the number of employees, the Federal Deposit Insurance Corp. reported Wednesday.
Among the first-quarter data:
• The number of state-chartered banks fell from 54 to 50 since the first quarter of 2014.
• The number of employees at state-chartered banks fell from 12,688 in 2014 to 11,010 at the end of March.
• Total assets fell from $52.98 billion to $48.37 billion.
• OREO (Other Real Estate Owned), essentially the value of property taken in as the result of bad loans, fell from $211 million to $146 million.
• Total deposits fell from $42.71 billion to $39.94 billion.
• The net interest margin fell from 3.94 percent to 3.78 percent.
• The percentage of unprofitable state-chartered banks rose from 5.56 percent to 10 percent, with increases reported from both small (assets less than $100 million) and large institutions.
• Nonperforming assets (essentially bad loans) as a function of total assets fell from 1.3 percent to 0.94 percent. At the end of the first quarter in 2013, nonperforming assets represented 2.22 percent of all assets.