Peoples Bank

What Peoples Bank does

Peoples Bank is a Washington State community bank founded in 1921 and headquartered in Bellingham, operating 23 branch locations across Whatcom, Skagit, Snohomish, Island, King, Chelan, and Douglas counties with $2.4 billion in total assets. The bank provides a full suite of consumer and commercial banking products, including checking, savings, money market, and CD accounts; residential mortgages, HELOCs (EquityOne), and auto/RV/marine loans; and business banking services spanning treasury management, merchant services, commercial loans, and credit cards. Investment and advisory services are delivered through a partnership with LPL Financial under the Peoples Investments brand. Distribution combines a physical branch network with digital channels, including an iOS/Android mobile app (with mobile deposit, card controls, and digital wallet support), online account opening, and the MeridianLink loan application portal integrated with Plaid for account funding.

The core technology stack is built on standard banking infrastructure with third-party integrations: Fiserv for online and mobile banking, AudioEye for WCAG 2.2 Level AA web accessibility certification, MeridianLink for loan origination workflows, MoneyPass for ATM access, and Elan Financial Services for credit card servicing. Security features include two-factor authentication and card controls. The bank is FDIC-insured, registered with NMLS, and subject to CRA evaluations, and holds a 5-star BauerFinancial rating. Customer-reported metrics include a Net Promoter Score of 74 (versus an industry average of 30-40) and 91% overall satisfaction.

The business model is net interest income-driven, with revenue from interest earned on loans (mortgages, commercial, consumer, credit lines) supplemented by deposit account fees, loan origination fees, and investment services revenue from the LPL Financial relationship. Go-to-market is relationship-based sales through personal bankers and commercial banking officers across the branch network, supported by event sponsorships (title sponsor of Ski to Sea for 21 years), community giving programs (annual Impact Grant of $25,000 plus $10,000 People's Choice), and a Refer-a-Friend program offering up to $500 annually. Primary customer segments are individual consumers and small-to-medium businesses, with secondary segments in youth/teens and non-profit organizations. In March 2026, Cornerstone Capital Bank completed its acquisition of Peoples Bank, ending over a century of independent ownership.

Name

Peoples Bank

Legal name

Peoples Bank

Website

https://peoplesbank-wa.com

Company type

Private

Founded year

1921

Operating status

Acquired

Headcount range

251–500 employees

Short description

Peoples Bank is a Washington State community bank founded in 1921, operating 23 branches across seven counties with $2.4 billion in assets. It delivers full-service personal and business banking, lending, and investment services to consumers, small-to-medium businesses, and youth customers.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

National Commercial Banks (6021)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Student & Youth Banking (FSABAAAH)

Keywords

• Community banking
• Retail banking services
• Commercial lending
• Mortgage loans
• Wealth management

Headquarters

HQ city

Bellingham

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Interest Income: Primary revenue from interest earned on loans including mortgages, commercial loans, personal loans, and credit lines
2. Deposit Account Fees: Fees from checking and savings accounts including monthly service charges and transaction fees
3. Loan Origination Fees: Fees from originating mortgage loans, home equity loans, auto loans, and commercial loans
4. Investment Services Revenue: Securities and advisory services offered through LPL Financial partnership

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Peoples Bank is a privately held community bank that provides a full suite of personal and business banking products and services through 23 branch locations across Washington State. Core offerings include checking and savings accounts, mortgages, home equity lines of credit, auto/RV/marine loans, business loans and lines of credit, merchant services, treasury management, credit cards, and investment services offered through LPL Financial. The bank also provides digital banking via online and mobile platforms, fraud prevention tools, and youth/teen banking products.

Product overview

Peoples Bank is a community bank offering a comprehensive suite of banking products and services through a branch network of 23 locations throughout Washington State. The core banking platform encompasses personal and business checking and savings accounts, credit cards, and online/mobile banking services. Lending products include home mortgages (15-year and 30-year fixed rate), home equity lines of credit (EquityOne), auto/RV/marine loans, and business lending. Additional services include investment management through LPL Financial partnership, merchant services, treasury management, Health Savings Accounts, IRA accounts, and fraud prevention tools. The bank also operates community programs including an annual Impact Grant program ($25,000 + $10,000 People's Choice) and a Refer a Friend program. The product architecture is organized as a unified community banking platform with specialized lending portals for mortgages, home equity, and vehicle loans.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking
• Personal Savings
• Teen Access Checking
• Youth Savings
• Business Checking
• Business Loans & Lines of Credit
• Merchant Services
• Treasury Management
• Home Loans
• EquityOne Line of Credit (HELOC)
• Auto & Motorcycle Loans
• RV Loans
• Marine Loans
• Personal Loans & Lines of Credit
• Credit Cards
• Peoples Investments
• Online & Mobile Banking
• Fraud Prevention Services
• Health Savings Account (HSA)
• IRA Accounts
• Business Online Banking
• Flood Disaster Relief Loan Programs
• Home Elevation Financing Program
• Overdraft Management Service

Quantifiable outcome

• Net Promoter Score of 74, significantly above industry average of 30-40
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Whatcom Long Term Recovery GroupcoreStrategic or Co-development PartnerFinancing partnership for home elevation program supporting flood recovery in Whatcom County. Peoples Bank provides financing backed by 100% guarantee from Whatcom Community Foundation to enable contractors to be paid for home elevation projects averaging $200,000 per home.
• Whatcom Community FoundationcoreStrategic or Co-development Partner100% guarantee provider for home elevation financing program supporting WLTRG flood recovery efforts. Also partnered with $10,000 donation to Whatcom Resilience Fund for disaster relief.
• LPL FinancialcoreTechnology or IntegrationSecurities and advisory services offered through LPL Financial partnership. Peoples Investments team provides investment management, retirement, and estate planning services through this registered investment advisor and broker-dealer relationship.
• Bellingham Regional Chamber of CommerceminorGTM or Marketing PartnerEvent co-host for People's Bank Fourth of July Spectacular at Bellingham Waterfront in partnership with Port of Bellingham.
• Port of BellinghamminorGTM or Marketing PartnerEvent co-host for Fourth of July Spectacular event at Zuanich Point Park waterfront location.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Banner Bank: Banner Bank is a Pacific Northwest community bank headquartered in Walla Walla, WA, offering commercial banking, consumer lending, and wealth management across WA, OR, ID, and CA. Directly comparable to Peoples Bank in size, product suite, and community-bank positioning in overlapping WA markets.
• HomeStreet Bank: HomeStreet Bank is a Seattle-based community bank offering consumer, business banking, and mortgage lending across the Pacific Northwest. Similar full-service community banking model with strong WA presence and overlapping customer segments.
• Sound Community Bank: Sound Community Bank is a WA-based community bank serving the Puget Sound region with consumer and business banking products. Comparable in size, geographic focus, and relationship-based banking approach.
• Bank of the Pacific: Bank of the Pacific is a Washington-based community bank with branches across western WA, offering personal and business banking, lending, and wealth services. Comparable size, product suite, and WA geographic concentration.
• Heritage Bank (WA): Heritage Bank is a Washington-based community bank offering consumer, business, and mortgage lending primarily in the Puget Sound region. Comparable in size, full-service community banking model, and WA market focus.
• Coastal Community Bank: Coastal Community Bank is a WA-based community bank serving Snohomish, Island, Skagit, and Whatcom counties—the same core counties as Peoples Bank. Highly comparable geographic overlap, business model, and SMB-focused community banking approach.
• Umpqua Bank: Umpqua Bank is a major Pacific Northwest commercial bank headquartered in Lake Oswego, OR, with deep WA presence, offering consumer and business banking, lending, and wealth services. Closely comparable business model, customer base, and regional footprint to Peoples Bank.
• First Federal Savings Bank: First Federal Savings Bank is a Washington community savings bank offering consumer and business banking across multiple WA counties. Similar community-bank focus, deposit-funded lending model, and regional footprint.

Broad incumbents

• Wells Fargo: Wells Fargo is one of the largest U.S. commercial banks with significant WA presence across all major consumer and business banking segments. Functions as a broad incumbent competitor with overlapping products but vastly greater scale and resources than Peoples Bank.
• JPMorgan Chase: JPMorgan Chase is a top-tier U.S. bank with extensive WA retail and commercial presence, offering consumer, business, mortgage, and wealth products. A broad incumbent competitor that competes for the same WA consumer and SMB relationships as Peoples Bank but at significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/peoplesbank_wa
• YouTubeyoutube.com/@peoplesbank-wa
• Facebookfacebook.com/peoplesbankwa
• LinkedInlinkedin.com/company/peoples-bank_3
• Instagraminstagram.com/peoplesbankwa

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Peoples Bank