# FARMINGTON STATE BANK
FARMINGTON, WA · FDIC certificate 6149 · asset band <$300M · latest filing 2023-06 · stopped filing (departed)

**Verdict on the desk:** this could be *credit-stressed*. Composite score 6 (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 | $16.3M | |
| Deposits | $4.8M | |
| Loans and leases | $11.7M | |
| Total equity | $11.4M | |
| Loans / deposits | 240.86% (p100 of band) | 68.34% |
| Liquid assets / assets | 18.61% (p16 of band) | |
| Uninsured deposits / deposits | 2.34% (p1 of band) | 19.21% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 0.00% (p19 of band) | |
| FHLB advances / assets | 0.00% | |
| Tier 1 leverage | 63.72% (p97 of band) | 11.20% |
| Unrealized securities loss / equity | 0.00% (p97 of band) | -21.45% |
| AOCI / equity | 0.00% (p30 of band) | |
| ROA (annualized) | -9.94% (p0 of band) | 0.98% |
| Net interest margin | 3.05% (p26 of band) | 3.56% |
| Efficiency ratio | 352.27% (p100 of band) | |
| Noncurrent loans | 0.66% (p73 of band) | 0.19% |
| Net charge-offs (annualized) | 0.00% (p44 of band) | |
| Reserve coverage of noncurrent | 110.39% | |
| Real estate % of loans | 60% | |
| Construction % of loans | 14.88% (p43 of band) | |
| Auto loans | $230,000 (1.97% of loans; DQ 16.52%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | -61.5% | |
| Employees | 8 | |

## Flags firing in the latest filing

- **loans exceed deposits** (`liq_ltd`)
- **losing money** (`earn_negative`)
- **expense ratio p90** (`earn_efficiency`)
- **deposits shrinking** (`shrink_deposits`)
- **assets shrinking** (`shrink_assets`)
- **uninsured deposits leaving** (`flight_uninsured`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 0 |  |  |
| 2011-06 | 0 |  |  |
| 2011-09 | 0 |  |  |
| 2011-12 | 0 |  |  |
| 2012-03 | 1 | capital falling |  |
| 2012-06 | 0 |  | capital falling |
| 2012-09 | 0 |  |  |
| 2012-12 | 1 | uninsured deposits leaving |  |
| 2013-03 | 1 | capital falling | uninsured deposits leaving |
| 2013-06 | 0 |  | capital falling |
| 2013-09 | 0 |  |  |
| 2013-12 | 0 |  |  |
| 2014-03 | 1 | capital falling |  |
| 2014-06 | 2 | deposits shrinking, assets shrinking | capital falling |
| 2014-09 | 3 | uninsured deposits leaving |  |
| 2014-12 | 0 |  | deposits shrinking, assets shrinking, uninsured deposits leaving |
| 2015-03 | 3 | expense ratio p90, deposits shrinking, assets shrinking |  |
| 2015-06 | 0 |  | expense ratio p90, deposits shrinking, assets shrinking |
| 2015-09 | 2 | deposits shrinking, assets shrinking |  |
| 2015-12 | 2 |  |  |
| 2016-03 | 3 | uninsured deposits leaving |  |
| 2016-06 | 2 |  | uninsured deposits leaving |
| 2016-09 | 3 | uninsured deposits leaving |  |
| 2016-12 | 2 |  | assets shrinking |
| 2017-03 | 1 | capital falling | deposits shrinking, uninsured deposits leaving |
| 2017-06 | 0 |  | capital falling |
| 2017-09 | 0 |  |  |
| 2017-12 | 0 |  |  |
| 2018-03 | 3 | capital falling, losing money, expense ratio p90 |  |
| 2018-06 | 4 | deposits shrinking, assets shrinking | capital falling |
| 2018-09 | 5 | uninsured deposits leaving |  |
| 2018-12 | 5 |  |  |
| 2019-03 | 3 |  | losing money, expense ratio p90 |
| 2019-06 | 3 |  |  |
| 2019-09 | 1 |  | assets shrinking, uninsured deposits leaving |
| 2019-12 | 0 |  | deposits shrinking |
| 2020-03 | 1 | capital falling |  |
| 2020-06 | 2 | expense ratio p90 |  |
| 2020-09 | 2 | noncurrent p90, reserve under noncurrent | capital falling, expense ratio p90 |
| 2020-12 | 3 | losing money, expense ratio p90, uninsured deposits leaving | noncurrent p90, reserve under noncurrent |
| 2021-03 | 4 | NIM <2.5% |  |
| 2021-06 | 4 | capital falling | uninsured deposits leaving |
| 2021-09 | 3 |  | NIM <2.5% |
| 2021-12 | 2 |  | capital falling |
| 2022-03 | 2 |  |  |
| 2022-06 | 2 |  |  |
| 2022-09 | 6 | uninsured deposits >50%, NIM <2.5%, noncurrent p90, reserve under noncurrent |  |
| 2022-12 | 4 | capital falling | NIM <2.5%, noncurrent p90, reserve under noncurrent |
| 2023-03 | 6 | loans exceed deposits, NIM <2.5%, deposits shrinking, uninsured deposits leaving | uninsured deposits >50%, capital falling |
| 2023-06 | 6 | assets shrinking | NIM <2.5% |

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

- 2024-02-07 [Fed ends enforcement action against Farmington State Bank - Banking Dive](https://news.google.com/rss/articles/CBMirgFBVV95cUxQQ2xidEdUOFVaZ3dvRmk3Z0RMRXRoYUJ2amFXa3dQZFRQaC00OXhWQnQ2MlJTa29DWnQ5ZzRrLTAwR2lnM2lvWHloU3FrSFhxNHUwdUMxUGpnWnNrakhTUTBMaE5jemdWV0FwNzNBUHhkdEhlV0pNcDVQV3hiWFp3MmpzaUlJc0I3UFFDZkJFNGpaZUYzSHpPRGFZOEEtXzNqYXVOTXNqSkl1aVFvb2c?oc=5) · Banking Dive
- 2023-08-07 [Farmington State Bank, the tiny Eastern Washington bank tied to FTX collapse, will close - The Spokesman-Review](https://news.google.com/rss/articles/CBMingFBVV95cUxNVGZMMGJUbzMxQXcwVno2VlN0WW5KaDQ0WXQ2clJDSV9PNDNFSlhKeXlKLW4tVzJWdWhuTUFVa3V4RmRnay1WQkVCYnlJSnEyU2ZVcXVkM3Z3SGhoQmg4ZEc5UlM4cTBPQVBQR2ZSQWF4ckkxaFJ6YTY0WEJiamN5MWk1YU0wNG9jVXd0Z0ZVSUVreXMtY2wxbWkwRFp4dw?oc=5) · The Spokesman-Review
- 2022-12-01 [FDIC 'looking closely' at Farmington State Bank in FTX fiasco - American Banker](https://news.google.com/rss/articles/CBMimwFBVV95cUxNWlVIel9FTEF5aHBzQTlfckpaZ1ZKVi1VMEtrc2RGUUtyNHFXeXJ6UHdxMlhCcFk3UUlmYTVrQk10V3NrZ3Z5cUE3TWctZktDQWxQRjd4c2lpbDFfSlcybmlzUFUwUXhhRVg1SW1qVFJ2dFctYS1aeVlvcTFiSlBmV3BGR1QxTzF3bW9idktuR21VdjMxbmhRakhsVQ?oc=5) · American Banker
- 2022-11-24 [The curious case of FTX and Farmington State Bank, aka Moonstone - Protos | Informed crypto news](https://news.google.com/rss/articles/CBMiiwFBVV95cUxNLUlRemQySHRObjFfZi0zMUZKeUFQLXU3b1pMNlRkUUNpS1RJTzZlYldITF9pZm9iNnJCZjc1ZUlvZk1UQU1KX25TblVUeC1FcVl3UnZacndmYVlSVlc1UjFDWnk2d01EcVB3eERseHFoenFKOVNCd3BaLVNpTGtJWFBocFMtZDlUSkNV?oc=5) · Protos | Informed crypto news
- 2022-12-10 [Senators ask regulators to investigate bank and crypto ties, citing Washington state bank - GeekWire](https://news.google.com/rss/articles/CBMivgFBVV95cUxObXNDLUNxUVpHandqRWNKZDc2YmVjYlhtQ3NiUzVxaXZiS0lmc3B5ZTZUOUYxNXdrazNEbjNGVjB4Nkx6NW9FcWstcDZveEkxbmQwZ3Byb0tPYVdmZmlaN1FWYWpwRUtDbzZLTWVXc1VUVGQ1OC05NlAwZzBfVVF1bmszbDlyWHJvLXV2b2FkY0FjSnp3Qzc2RGQ0dllnazlEU29pZW5UVzJ1SkJwYmRxWEVyMzlEVUUyUW9qRkZn?oc=5) · GeekWire
- 2023-08-18 [Fed orders wind-down of FTX-associated Farmington State Bank - Banking Dive](https://news.google.com/rss/articles/CBMiigFBVV95cUxObEdKcjBiZnFCay14bDRtRWY5b0VSVzJnVnRra242Uy00Qm5JNVV2V1hxWnN4Zzdfd29PZHAxQjdQUUxaOHNxMFZ4cjdyWE9zYmhZQnJVMDlMcFZiU29YdHIxS0I0cGQyRUhnaWozOHNBYUg0VmpzWFl4NklfaklRQ1BxUWtkWGtLNXc?oc=5) · Banking Dive
- 2023-01-23 [SBF held $50 million in a tiny rural Washington state bank that had just 3 employees until he invested in it - markets.businessinsider.com](https://news.google.com/rss/articles/CBMiwgFBVV95cUxNaGZMMVV0MjRkRWxuTkZjeWt5aUxsc2J6RGQtU2hONXhsMGs1bWwweWExbVMxWlZLX0cydlczQXBraXhGSXAwdU1ydEphQ0VQYTZuQ1ZrNEZDNzlUTmlsQUtuRXl5NDJUS0xCQUotT3VGRUZ5WUF3RUYwS1NKNnNad2w4T2hMSGZIX05FTGlFNVBrdVRNdF9SQ09ZNGpieGlFaEQ4RHVfamRjLTZvOHpqNzNRSE85YnkwcTVfMEdGOGVuQQ?oc=5) · markets.businessinsider.com
- 2022-12-06 [Crypto Firm FTX’s Ownership of a U.S. Bank Raises Questions (Published 2022) - The New York Times](https://news.google.com/rss/articles/CBMifEFVX3lxTE5GR0RqcV81TkNyUTNhbzRLTW1HNXpkejNlckNNQjVDRURwQ0xLSHFQSHFnTUJqazlpTW1fLXA5MGRJMVR1VUdZRlhTdDI0djJnRXRvOXBWbU1NMHZaVlVvQXFKZi1XMi1kemFzNnc4c2VrTnB0WkFuZ1UtVE4?oc=5) · The New York Times

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=6149 (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/5.json (key "6149", 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