The bank continues to be very well capitalized with equity totaling $117.6 million, which equates to a capital leverage ratio of 12.03 percent, well above the regulatory definition of well capitalized. This represents a $3.2 million or 2.77 percent increase in capital when compared to the prior year.

Net loans grew by $4.1 million year-over-year, and assets were also lifted by investment and cash growth of $21.3 million. Net deposits increased by $26.4 million, and were boosted by the bank’s new school affinity card program along with household growth in new markets like Lewis County and market share expansion in Thurston and Mason counties.

“OlyFed remains true to its values of putting people before profits, as a number of other local financial institutions in our region undergo mergers and acquisitions,” Deck said. “We continue to grow organically and it’s easy to see that what we have to offer through our mutual banking business model is appealing to those who call our area home.”

Along with the bank’s significant deposit growth, OlyFed was able to reward its deposit customers with $13.6 million in interest payments, helping local individuals and families reach their financial goals. The deposit growth was buoyed by close to 400 net new checking accounts.

Furthermore, the bank saw a significant increase in debit card transactions with the launch of its Affinity Card Program, which gives back two cents to local area high schools and colleges with each card transaction. This past fiscal year, the bank saw card transactions grow by more than 51,000, ending the year with close to 1.8 million swipes. Donations to schools and nonprofit organizations through the two cent give back program totaled more than $53,000. Combined with the bank’s other philanthropic contributions and sponsorships, total giving for the fiscal year surpassed $318,000, which represents 13.25 percent of net profits.

“I am particularly proud of how OlyFed continues to support our community in so many generous ways year in and year out,” Deck said. “Human-centered banking means our actions will always demonstrate our values and you will see our commitment to doing the right thing through the character of our people. We show up in so many ways. From the 1,500 plus hours of volunteer service to the more than 40 nonprofit boards and committees OlyFedders serve on.”

Speaking of helping people, OlyFed originated more than $11 million in affordable home loans to help individuals and families earning 80 percent or less of median income in Thurston, Mason and Lewis counties become homeowners. This represents a 17 percent increase in affordable home loans, when compared to the previous fiscal year. In fact, more than 33 percent of OlyFed’s loans last fiscal year were for low-to-moderate income borrowers. “In the past three years, OlyFed has closed on more than $27 million in affordable home loans in Thurston, Mason and Lewis counties helping hundreds of families realize the dream and benefits that come with homeownership,” Deck said.

“As the bank embarks on its 120th year of doing business in our region, our plans for the next few years are to continue growing core relationships, advancing financial education in schools, expanding affordable housing options in our community and supporting our local nonprofits and professional partners,” Deck continued.

“We remain focused on deepening and broadening our roots as we extend our offerings to serve the economic development needs of local businesses looking for personalized care, thoughtful strategies and money saving products and services that help with bottom line growth.”