# FIRST HERITAGE BANK
SNOHOMISH, WA · FDIC certificate 23626 · asset band <$300M · latest filing 2011-03 · FAILED

**Verdict on the desk:** this could be *credit-stressed*. Composite score 9 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $173.5M | |
| Deposits | $163.3M | |
| Loans and leases | $128.2M | |
| Total equity | $3.8M | |
| Loans / deposits | 76.99% (p62 of band) | 70.88% |
| Liquid assets / assets | 14.29% (p7 of band) | |
| Uninsured deposits / deposits | 2.40% (p15 of band) | 7.86% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 2.90% (p51 of band) | |
| FHLB advances / assets | 2.88% | |
| Tier 1 leverage | 2.11% (p1 of band) | 9.71% |
| Unrealized securities loss / equity | 0.58% (p46 of band) | 0.79% |
| AOCI / equity | -1.56% (p2 of band) | |
| ROA (annualized) | -0.99% (p7 of band) | 0.66% |
| Net interest margin | 3.56% (p36 of band) | 3.79% |
| Efficiency ratio | 117.71% (p94 of band) | |
| Noncurrent loans | 13.20% (p98 of band) | 1.53% |
| Net charge-offs (annualized) | 3.67% (p99 of band) | |
| Reserve coverage of noncurrent | 14.91% | |
| Real estate % of loans | 94% | |
| Construction % of loans | 567.52% (p100 of band) | |
| Auto loans | $0 (0.00% of loans; DQ –, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | – | |
| Employees | 57 | |

## Flags firing in the latest filing

- **leverage <7%** (`cap_low`)
- **leverage <5%** (`cap_critical`)
- **losing money** (`earn_negative`)
- **expense ratio p90** (`earn_efficiency`)
- **noncurrent p90** (`aq_noncurrent`)
- **charge-offs p90** (`aq_nco`)
- **reserve under noncurrent** (`aq_reserve`)
- **construction >100% equity** (`conc_construction`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 9 | leverage <7%, leverage <5%, losing money, expense ratio p90, noncurrent p90, charge-offs p90, reserve under noncurrent, construction >100% equity |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-02-18 [List Of Failed Banks: 2009-2026 - Bankrate](https://news.google.com/rss/articles/CBMiZEFVX3lxTFAtbi1TaWMteGEyOHdQbnlXd0tPRzM2WFJQZjdPdzViQTZFLVVHODJRTEdqRWhnMkxIOG5xMUVSWU5iNHZSbVpnQ2Z4TWdiMDVwN2NTdUNGd3dXZ2tGcGZ2VWVJRnM?oc=5) · Bankrate
- 2025-09-11 [Bachman family passes leadership torch at First Heritage Bank - The Business Journals](https://news.google.com/rss/articles/CBMipgFBVV95cUxPUVFVLV9KeWxtNWV0TEM5TmJ6WDFEZXNQYTdUVE5PSHZpM2V1cGRzN255dzl0ZFNULTRvRGlDMTFKS3FSUlVBaVhGdHV0NDdkeDZCYmVxZk5PbDVIYmpsREE2a3NFV0I5NlBYdGNKUTI0QXYxQjdDa1JKV0pmZWNlMHVwZXdFdU5zVFM0Z1NnZkhSUV84TUZ1dHp5Qkt4azNDaER2aXBR?oc=5) · The Business Journals
- 2017-01-25 [Cathy Reines - American Banker](https://news.google.com/rss/articles/CBMiX0FVX3lxTE5hTjVqTXFyWTdtX0EzRnRRZGFDaHkyRklkV21VTjhiYkZiY0ZwdDEtWUFaN2ZqaVdCM2h2VHZIWURLUHlIdEZsOHJHZUpReTdUTDJjUjR0VllIWVliR3l3?oc=5) · American Banker
- 2021-04-07 [First Heritage Bank sees long-term, full-service future in KC market - The Business Journals](https://news.google.com/rss/articles/CBMiogFBVV95cUxQVWoyV0tSRjZjYUlGR24zemstemo3WGphMnNHQ3pSaTloTHg5YjQ2dUxJeVlaTVV5ZTNHTnY2ZldyeTFqVGpXVlJnRkdlT2Z5dDhVNWVhQ1FnYkFQeU9rMk83NEY1eVZtMHF3dDZmUVBTYmxSUnROVDQ0YnQtUzU5c1UxOERoM3Q2Ny05czZYcU1GeTBCSGRUWUJENnRIYjNfWWc?oc=5) · The Business Journals
- 2024-12-04 [List of Recent Failed Banks in the United States (2023-2024) - Norada Real Estate Investments](https://news.google.com/rss/articles/CBMia0FVX3lxTE4zaWFvQzhqc24zdE1QZ1haYnk2b1NsLWxONmNTTV9jVldzbjZqLUM1NV85U3dyaENaUGhWVm0wdllpUlNMZlIteHExdVUzS0JTdXlRWTJiUGJfaEtZSk5wcWhNNG1ZS0U5Y0Vz?oc=5) · Norada Real Estate Investments
- 2020-11-25 [Adrian Taylor Obituary - Monroe, WA - Dignity Memorial](https://news.google.com/rss/articles/CBMif0FVX3lxTE1uNGRvM1ZnckJiN1A5X09TNUYzTE1Ya19sR19OT1piZkV2U2tKSnNLWXNfeDdEdVZXc3FHY3JRWWVpSVR3U3BLQ0ZGdV9yN0NrWEZLb2dHUlBJQlZhOGVSUXVUeDhyNHphTlE0RFppZ3ZQTEY4b21zNjdDTDU1bk0?oc=5) · Dignity Memorial
- 2021-11-05 [Mary McMillan Obituary (1954 - 2018) - Mount Vernon, WA - The Herald (Everett) - legacy.com](https://news.google.com/rss/articles/CBMijwFBVV95cUxQMVVwUUdzUzViS180U0pRaFVCM2JEalFmMGhPbkNzR0luRlNBTHNUbnVGdW85VnJna3JwbkdRUlNoOUpxX3Jjam1uQXd2aklzN3ZtYlNPMUUyUk5XbnZIVmNfQl9EdXhDbkhrZEs1eVNOMzZtYTM5SVVjWWY2M3poTmN4T2plaU9WbWVpVVhDQQ?oc=5) · legacy.com
- 2010-12-14 [Louis Matheson Obituary - Everett, WA - Dignity Memorial](https://news.google.com/rss/articles/CBMiggFBVV95cUxPYzRqakpXLWhKbDNrMk0zN0c2UjVhLXZ5NjdrOUZVemhaSDdONGIzcVZSUzJmZ0tuOVA2dXktSjVRMUg3aUFFS09YRjJEZEZldTQxMUk1alRSTHY2dk9UNm4yTzJ2ZDVHeGQxM2otNVpvYmFSN0NHQVQ0QzJmdF85cXdn?oc=5) · Dignity Memorial

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=23626 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/10.json (key "23626", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide