OTCPK:FSWA

Stock Analysis Report

Executive Summary

First Sound Bank provides various banking services for small and medium-sized businesses, middle-income individuals, not-for-profit organizations, entrepreneurs, professionals, and service companies primarily in Western Washington.

Snowflake

Fundamentals

Adequate balance sheet with moderate growth potential.

Risks

  • First Sound Bank is not covered by any analysts.

Share Price & News

How has First Sound Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.7%

OTCPK:FSWA

-1.8%

US Banks

-1.6%

US Market


1 Year Return

-11.6%

OTCPK:FSWA

-16.1%

US Banks

-3.0%

US Market

FSWA outperformed the Banks industry which returned -13.8% over the past year.

FSWA underperformed the Market in United States of America which returned -0% over the past year.


Share holder returns

FSWAIndustryMarket
7 Day1.7%-1.8%-1.6%
30 Day-4.5%-10.6%-5.8%
90 Day-10.2%-5.0%0.2%
1 Year-11.6%-11.6%-13.7%-16.1%-0.8%-3.0%
3 Year8.9%8.9%37.9%28.5%38.0%29.1%
5 Year-39.0%-39.0%49.4%33.2%50.8%34.1%

Price Volatility Vs. Market

How volatile is First Sound Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is First Sound Bank undervalued based on future cash flows and its price relative to the stock market?

56.06x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Unable to calculate intrinsic value for First Sound Bank to establish if it is available at moderate discount.

Unable to calculate intrinsic value for First Sound Bank to establish if it is available at substantial discount.


Price Based on Earnings

First Sound Bank is overvalued based on earnings compared to the US Banks industry average.

First Sound Bank is overvalued based on earnings compared to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for First Sound Bank, we can't assess if its growth is good value.


Price Based on Value of Assets

First Sound Bank is overvalued based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is First Sound Bank expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

29.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if First Sound Bank is high growth as no revenue estimate data is available.

First Sound Bank's earnings are expected to grow significantly at over 20% yearly.

Unable to compare First Sound Bank's revenue growth to the United States of America market average as no estimate data is available.

First Sound Bank's earnings growth is expected to exceed the United States of America market average.

First Sound Bank's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if First Sound Bank will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has First Sound Bank performed over the past 5 years?

1.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

First Sound Bank's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.

First Sound Bank's 1-year earnings growth exceeds its 5-year average (1387.5% vs 1.3%)

First Sound Bank's earnings growth has exceeded the US Banks industry average in the past year (1387.5% vs 33.1%).


Return on Equity

First Sound Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

First Sound Bank used its assets less efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if First Sound Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is First Sound Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

First Sound Bank has an acceptable proportion of non-loan assets held.

First Sound Bank has a low allowance for bad loans.

First Sound Bank's liabilities are made up of primarily low risk sources of funding.

First Sound Bank's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at First Sound Bank are broadly funded by customer deposits.

First Sound Bank has a high level of bad loans (greater than 2%).


Next Steps

Dividend

What is First Sound Bank's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate First Sound Bank's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate First Sound Bank's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as First Sound Bank has not reported any payouts.

Unable to verify if First Sound Bank's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as First Sound Bank has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of First Sound Bank's salary, the management and board of directors tenure and is there insider trading?

0.6yrs

Average management tenure


CEO

Marty Steele (62yo)

0.6yrs

Tenure

0

Mr. Martin A. Steele, also known as Marty, has been President, Chief Executive Officer and Director at First Sound Bank since 2019. Mr. Steele serves as Chief Executive Officer and President of Washington  ...


Management Age and Tenure

0.6yrs

Average Tenure

The average tenure for the First Sound Bank management team is less than 2 years, this suggests a new team.


Board Age and Tenure

8.3yrs

Average Tenure

62yo

Average Age

The tenure for the First Sound Bank board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Management Team

  • Marty Steele (62yo)

    President

    • Tenure: 0.6yrs
  • Dave Huguenin

    Senior VP & Business Development Officer

    • Tenure: 0.6yrs
  • Tammy Hanson

    Executive VP & Chief Administrative Officer

    • Tenure: 3.5yrs
  • David McCann

    Vice President and Portfolio Manager

    • Tenure: 5.2yrs
  • Lisa Cleary

    Executive VP & Chief Credit Officer

    • Tenure: 2.3yrs
  • Debby McDaniel

    Executive VP & CFO

    • Tenure: 0.3yrs
  • Steven Evans

    Senior VP & Manager of Commercial Banking

    • Tenure: 0.1yrs

Board Members

  • Pamela Myers (70yo)

    Director

    • Tenure: 15.6yrs
  • Kathleen Titcomb (61yo)

    Director

    • Tenure: 15.6yrs
  • Michael Evered (77yo)

    Lead Director

    • Tenure: 0.0yrs
  • Steve Schwartz (59yo)

    Chairman of the Board

    • Tenure: 1.1yrs
  • Marty Steele (62yo)

    President

    • Tenure: 0.6yrs

Company Information

First Sound Bank's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Sound Bank
  • Ticker: FSWA
  • Exchange: OTCPK
  • Founded: 2004
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$19.243m
  • Shares outstanding: 3.15m
  • Website: https://www.firstsoundbank.com

Location

  • First Sound Bank
  • 925 Fourth Avenue
  • Suite 2350
  • Seattle
  • Washington
  • 98104
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FSWAOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJul 2004

Biography

First Sound Bank provides various banking services for small and medium-sized businesses, middle-income individuals, not-for-profit organizations, entrepreneurs, professionals, and service companies primar ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/24 00:01
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.