YOUR MONEY IS SAFE AT WHEATLANDRead Article...
(Spokane, WA)– Thirty years ago in September 1979, Wheatland Bank opened for business in Davenport, WA as the only locally owned bank in Lincoln County with a primary mission of serving the Lincoln County Agricultural sector and rural communities. Thirty years later, it has grown to 13 branches in eight counties (Adams, Chelan, Douglas, Grant, Kittitas, Lincoln, Spokane and Yakima), and approximately 100 employees, 10,000 customers, and $220 million in assets.
Wheatland Bank continues to thrive during a time when many institutions are struggling. To ensure longevity and independence, Wheatland Bank has continued to expand into new markets, opening four branches during 2008 and experiencing solid but controlled and diversified growth.
As of August 31, 2009, Wheatland Bank had total assets of $220 million, representing year over year growth of over 16%. Total loans were $198 million, and total deposits were $179 million, representing strong growth, especially in this climate, of 16% and 14%, respectively. The quality of Wheatland Bank’s loans are still far better than industry trends, with only 1% of loans delinquent as of last month end, and minimal loan losses. Despite the huge FDIC insurance premiums the Bank has had to pay along with all banks, Wheatland remains profitable and well capitalized. Wheatland Bank is one of few in their market areas that did not need a tax payer bailout. Wheatland Bank is proud to remain a strong independent community bank within such a tumultuous industry.
Wheatland Bank continues to focus on helping small businesses, farmers, and consumers succeed by offering the highest quality personalized banking relationships and services. Wheatland Bank is a value-oriented financial services provider dedicated to serving the needs of its customers, communities and employees while enhancing shareholder value. Wheatland Bank is currently the only Washington bank rated five stars by Bauer Financial in Spokane, Lincoln, Adams and Grant counties, and noted as one of the strongest banks in the country.