Frontier Financial Corporation · Everett, WA United States ·(NASDAQ (GS): FTBK)
Company Description
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This link will open in a new window Frontier Financial serves the part of the western frontier that includes Washington and Oregon. Its Frontier Bank subsidiary operates about 50 offices that offer standard retail products, including savings, checking, and money market accounts and certificates of deposit. Funds gathered are largely used to originate real estate construction and land development loans (more than 45% of the company's portfolio) and commercial mortgages (around 30%). Lending activities also include residential mortgage and business consumer loans. Other offerings include life insurance, annuities, mutual funds, and trust services. To read the full description, subscribe now.
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Key Frontier Financial Corporation Financials
| Company Type | Public - NASDAQ (GS): FTBK Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $181.7 |
| 2008 Employees | 799 |
Frontier Financial Corporation Executives
23 executives listed for Frontier Financial Corporation's Everett, WA location.
| Title | Name & Bio | Contact |
| Chairman, Frontier Financial and Frontier Bank and CEO | Patrick Fahey | Network |
| President and Director; CEO, Frontier Bank | Michael Clementz | Network |
| EVP and COO, Frontier Bank | R. James Mathison | Network |
Competition
Competitive Landscape for Frontier Financial Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Frontier Financial Corporation Competitors
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