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FSWA

First Sound Bank OTCPK:FSWA Stock Report

Last Price

US$6.77

Market Cap

US$21.4m

7D

0.1%

1Y

17.7%

Updated

07 Aug, 2022

Data

Company Financials
FSWA fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance5/6
Financial Health5/6
Dividends0/6

FSWA Stock Overview

First Sound Bank provides various banking products and services for small and medium-sized businesses, middle-income individuals, high net worth individuals, not-for-profit organizations, entrepreneurs, and professional service firms primarily in Western Washington.

First Sound Bank Competitors

Price History & Performance

Summary of all time highs, changes and price drops for First Sound Bank
Historical stock prices
Current Share PriceUS$6.77
52 Week HighUS$7.00
52 Week LowUS$4.91
Beta0.21
1 Month Change0.15%
3 Month Change-1.46%
1 Year Change17.74%
3 Year Change12.83%
5 Year Change-32.30%
Change since IPO-99.22%

Recent News & Updates

Shareholder Returns

FSWAUS BanksUS Market
7D0.1%0.3%1.0%
1Y17.7%-14.1%-12.9%

Return vs Industry: FSWA exceeded the US Banks industry which returned -14.1% over the past year.

Return vs Market: FSWA exceeded the US Market which returned -12.9% over the past year.

Price Volatility

Is FSWA's price volatile compared to industry and market?
FSWA volatility
FSWA Average Weekly Movementn/a
Banks Industry Average Movement3.7%
Market Average Movement7.9%
10% most volatile stocks in US Market17.2%
10% least volatile stocks in US Market3.2%

Stable Share Price: Insufficient data to determine FSWA's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine FSWA's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
2004n/aMarty Steelehttps://www.firstsoundbank.com

First Sound Bank provides various banking products and services for small and medium-sized businesses, middle-income individuals, high net worth individuals, not-for-profit organizations, entrepreneurs, and professional service firms primarily in Western Washington. The company’s deposit products include checking, savings, money market, and sweep accounts. It also offers consumer loans comprising personal loans, ready cash line of credit, and home equity lines of credit; and commercial loans, such as lines of credit, commercial real estate loans, export activity and foreign receivables, investment property loans, and small business administration loans, as well as cash flow solutions.

First Sound Bank Fundamentals Summary

How do First Sound Bank's earnings and revenue compare to its market cap?
FSWA fundamental statistics
Market CapUS$21.36m
Earnings (TTM)US$2.00m
Revenue (TTM)US$6.74m

10.7x

P/E Ratio

1.5x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
FSWA income statement (TTM)
RevenueUS$6.74m
Cost of RevenueUS$0
Gross ProfitUS$6.74m
Other ExpensesUS$4.74m
EarningsUS$2.00m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.63
Gross Margin100.00%
Net Profit Margin29.67%
Debt/Equity Ratio0.0%

How did FSWA perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is FSWA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FSWA?

Other financial metrics that can be useful for relative valuation.

FSWA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

How does FSWA's PE Ratio compare to its peers?

FSWA PE Ratio vs Peers
The above table shows the PE ratio for FSWA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average10.7x
AMFC AMB Financial
7xn/aUS$20.4m
CDAB Coeur d'Alene Bancorp
11.8xn/aUS$20.9m
SSBP SSB Bancorp
16.1xn/aUS$17.8m
LOGN Logansport Financial
8.1xn/aUS$25.9m
FSWA First Sound Bank
10.7xn/aUS$21.4m

Price-To-Earnings vs Peers: FSWA is good value based on its Price-To-Earnings Ratio (10.7x) compared to the peer average (10.7x).


Price to Earnings Ratio vs Industry

How does FSWA's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: FSWA is expensive based on its Price-To-Earnings Ratio (10.7x) compared to the US Banks industry average (9.8x)


Price to Earnings Ratio vs Fair Ratio

What is FSWA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FSWA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate FSWA's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of FSWA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate FSWA's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate FSWA's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

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

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


10.4%

Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as First Sound Bank has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Check out First Sound Bank's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access First Sound Bank's filings and announcements here.

Past Performance

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

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


47.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: FSWA has high quality earnings.

Growing Profit Margin: FSWA's current net profit margins (29.7%) are higher than last year (6.3%).


Past Earnings Growth Analysis

Earnings Trend: FSWA's earnings have grown significantly by 47.1% per year over the past 5 years.

Accelerating Growth: FSWA's earnings growth over the past year (553.3%) exceeds its 5-year average (47.1% per year).

Earnings vs Industry: FSWA earnings growth over the past year (553.3%) exceeded the Banks industry 8.8%.


Return on Equity

High ROE: FSWA's Return on Equity (13.7%) is considered low.


Discover strong past performing companies

Financial Health

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

Financial Health Score

5/6

Financial Health Score 5/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FSWA's Assets to Equity ratio (10.5x) is moderate.

Allowance for Bad Loans: FSWA has a low allowance for bad loans (97%).

Low Risk Liabilities: 82% of FSWA's liabilities are made up of primarily low risk sources of funding.

Loan Level: FSWA has an appropriate level of Loans to Assets ratio (85%).

Low Risk Deposits: FSWA's Loans to Deposits ratio (114%) is appropriate.

Level of Bad Loans: FSWA has an appropriate level of bad loans (1.2%).


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Dividend

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

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate FSWA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FSWA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FSWA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FSWA's dividend payments have been increasing.


Current Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FSWA's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.6yrs

Average management tenure


CEO

Marty Steele (65 yo)

3.58yrs

Tenure

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


Leadership Team

Experienced Management: FSWA's management team is considered experienced (2.6 years average tenure).


Board Members

Experienced Board: FSWA's board of directors are considered experienced (9.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: First Sound Bank
  • Ticker: FSWA
  • Exchange: OTCPK
  • Founded: 2004
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$21.357m
  • Shares outstanding: 3.15m
  • Website: https://www.firstsoundbank.com

Location

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

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/07 00:00
End of Day Share Price2022/08/03 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.