Commencement Bancorp Inc. (CBWA)
Commencement Bancorp Inc. functions as the parent entity for Commencement Bank, delivering a comprehensive array of financial products and services. These offerings are designed for individual customers, as well as small and medium-sized enterprises across western Washington. The bank accepts various deposit types, including non-interest-bearing, demand, savings, NOW, money market, and time accounts, alongside certificates of deposit. Its lending options span term loans, home equity loans and lines of credit, personal reserve overdraft facilities, and a wide spectrum of commercial real estate financing, encompassing residential (1-4 family), multi-family, commercial, construction, and land projects. Additionally, the company provides government-guaranteed and other specialized loans, coupled with credit/debit card services and ATM access. Founded in 2006 and headquartered in Tacoma, Washington, the bank maintains four branches situated in Tacoma, Enumclaw, Auburn, and Olympia.
Sector: Banks - Regional
Industry: Banks - Regional
Commencement Bancorp Inc.
OTC:CBWAFinancial Services · Banks - Regional
+2.60%$20.52
CLOSED · Nov 12Prev close$20.00+2.60%Close$20.52
Mkt Cap$78.39M
EV$679.56M
Float-
O/S3.82M
VOL300 sh
$ Vol$6K
RVOL0.13×
Inst Own-
Net Cash/Sh+$3.57
Dilution
Financials Summary
Revenue$36.68M
Net Income$6.71M
Total Assets$683.25M
Free Cash Flow$305K
Debt & Equity
Debt 12%
Equity 88%
Total Debt$8M
Total Equity$60.2M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in CBWA's public trading history: no forward or reverse split has affected the share count.
Not listed: 2 stock dividend or distribution rows in the vendor series, which are not splits.
Balance Sheet Details
Assets$683.25M
Liabilities$623.05M
Accounts Receivable$2.31M
Accounts Payable$492K
Inventory$0
PP&E (Net)$13.31M
Goodwill$1.21M
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 |
| Revenue | $36.68M | $30.41M | $27.73M | $21.35M | $20.12M | $19.07M | $18.21M | $16.88M | $14.9M | $9.41M | $7.62M | $7.13M | $6.04M |
| YoY Growth | 20.6% | 9.7% | 29.9% | 6.1% | 5.5% | 4.7% | 7.9% | 13.3% | 58.4% | 23.4% | 7.0% | 18.1% | - |
| Cost of Revenue | $10.14M | $30.41M | $8.13M | $1.7M | $3.83M | $3.57M | $2.97M | $1.86M | $1.82M | $871K | $638K | $799K | $708K |
| Gross Profit | $26.54M | $20.53M | $19.6M | $19.65M | $16.29M | $15.49M | $15.24M | $15.02M | $13.07M | $8.54M | $6.99M | $6.33M | $5.33M |
| Gross Margin | 72.4% | 67.5% | 70.7% | 92.0% | 81.0% | 81.3% | 83.7% | 89.0% | 87.8% | 90.7% | 91.6% | 88.8% | 88.3% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $13.58M | $13.16M | $10.07M | $7.87M | $6.49M | $5.92M | $5.61M | $4.99M | $4.75M | $3.8M | $3.37M | $3.08M | $2.56M |
| Other | $4.62M | $5.67M | $5.84M | $5.04M | $4.59M | $4.52M | $3.76M | $3.69M | $3.77M | $2.91M | $1.96M | $1.93M | $1.91M |
| Total Operating Expenses | $18.2M | $13.16M | $15.92M | $12.9M | $11.09M | $10.44M | $9.37M | $8.68M | $8.52M | $6.71M | $5.33M | $5.01M | $4.48M |
| Operating Income (EBIT) | $8.35M | $7.37M | $3.68M | $6.74M | $5.2M | $5.05M | $5.87M | $6.34M | $4.55M | $1.83M | $1.65M | $1.32M | $851K |
| Operating Margin | 22.8% | 24.2% | 13.3% | 31.6% | 25.9% | 26.5% | 32.2% | 37.6% | 30.5% | 19.5% | 21.7% | 18.5% | 14.1% |
| Interest Expense | $9.19M | $10.32M | $8.08M | $1.42M | $1.43M | $2.42M | $2.68M | $1.58M | $1.16M | $871K | $759K | $754K | $693K |
| Interest Income | $34.72M | $29.69M | $26.29M | $19.71M | $19.08M | $17.74M | $17.17M | $16.14M | $14.18M | $8.79M | $7.09M | $6.67M | $5.99M |
| Other Income (Expense) | $0 | -$3.74M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Income Before Tax (EBT) | $8.35M | $3.63M | $3.68M | $6.74M | $5.2M | $5.05M | $5.87M | $6.34M | $4.55M | $1.83M | $1.65M | $1.32M | $851K |
| Income Tax Expense | $1.64M | $618K | $630K | $1.25M | $1.01M | $1.02M | $1.08M | $1.3M | $2.43M | $643K | $511K | $400K | -$602K |
| Net Income | $6.71M | $3.01M | $3.05M | $5.49M | $4.19M | $4.03M | $4.79M | $5.04M | $2.12M | $1.19M | $1.14M | $920K | $1.45M |
| Net Income Margin | 18.3% | 9.9% | 11.0% | 25.7% | 20.8% | 21.1% | 26.3% | 29.8% | 14.2% | 12.6% | 15.0% | 12.9% | 24.1% |
| Supplementary Data | |||||||||||||
| EPS | 1.78 | 0.78 | 0.77 | 1.37 | 1.00 | 0.96 | 1.17 | 1.22 | 0.51 | 0.40 | 0.42 | 0.34 | 0.54 |
| Diluted EPS | 1.78 | 0.77 | 0.76 | 1.35 | 0.99 | 0.95 | 1.16 | 1.20 | 0.50 | 0.40 | 0.42 | 0.34 | 0.54 |
| Weighted Average OS | 3.72M | 3.86M | 3.97M | 4.01M | 4.18M | 4.20M | 4.10M | 4.13M | 4.17M | 2.99M | 2.69M | 2.69M | 2.72M |
| EBITDA | $8.35M | $3.63M | $4.56M | $7.62M | $6.2M | $6.03M | $6.69M | $6.77M | $4.98M | $2.01M | $1.81M | $1.49M | $1.02M |
| EBITDA Margin | 22.8% | 11.9% | 16.4% | 35.7% | 30.8% | 31.6% | 36.8% | 40.1% | 33.4% | 21.4% | 23.8% | 20.9% | 16.8% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 |
| Assets | |||||||||||||
| Current Assets | |||||||||||||
| Cash and Cash Equivalents | $8.58M | $64.1M | $12.86M | $13.51M | $18.64M | $50.77M | $43.15M | $35.32M | $28.38M | $36.86M | $25.25M | $25.8M | $31.79M |
| Short-Term Investments | $13.06M | $83.76M | $101.29M | $110.04M | $100.32M | $22.03M | $14.73M | $15.01M | $14.64M | $8.11M | $3.39M | $2.93M | $4.62M |
| Cash and Short-Term Investments | $21.64M | $142.08M | $114.15M | $123.55M | $118.96M | $72.8M | $57.88M | $50.32M | $43.02M | $44.98M | $28.64M | $28.73M | $36.41M |
| Accounts Receivable | $2.31M | $1.78M | $2.07M | $1.53M | $1.08M | $1.9M | $995K | $801K | $812K | $659K | $319K | $327K | $348K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | -$13.06M | $65.88M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $10.89M | $65.88M | $116.22M | $125.08M | $120.04M | $74.7M | $58.87M | $51.12M | $43.84M | $45.64M | $28.96M | $29.06M | $36.76M |
| Long-Term Assets | |||||||||||||
| Property, Plant & Equipment Net | $13.31M | $6.87M | $5.02M | $5.63M | $6.4M | $7.29M | $8.12M | $2.34M | $2.48M | $2.67M | $600K | $698K | $800K |
| Goodwill | $1.21M | $1.21M | $1.21M | $1.21M | $1.21M | $1.21M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $14K | $45K | $94K | $0 | $1.46M | $1.56M | $1.67M | $0 | $0 | $0 |
| Long-Term Investments | $614.61M | $461.73M | $437.39M | $424.49M | $341.58M | $409.31M | $294.48M | $265.16M | $252.06M | $230.66M | $3.39M | $2.93M | $4.62M |
| Deferred Tax Assets | $0 | $4.81M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $43.23M | $636.8M | $26.35M | $24.34M | $62.16M | $35.16M | $25.55M | $37.4M | $27.86M | $62.9M | -$3.99M | -$3.63M | -$5.42M |
| Total Long-Term Assets | $672.36M | $649.69M | $469.97M | $455.68M | $411.4M | $453.07M | $329.53M | $306.35M | $283.95M | $297.9M | $3.99M | $3.63M | $5.42M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $146.12M | $134.97M | $128.46M |
| Total Assets | $683.25M | $650M | $586.19M | $580.76M | $531.44M | $527.77M | $388.4M | $357.47M | $327.78M | $343.54M | $179.07M | $167.65M | $170.64M |
| Liabilities | |||||||||||||
| Current Liabilities | |||||||||||||
| Accounts Payable | $492K | $499K | $368K | $39K | $21K | $38K | $112K | $34K | $25K | $66K | $27K | $23K | $29K |
| Short-Term Debt | $780K | $251K | $0 | $26.85M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | -$492K | $583.7M | $531.19M | $475.63M | $472.03M | $469.71M | $334.37M | $311.87M | $283.66M | $300.11M | -$54K | -$23K | -$29K |
| Total Current Liabilities | $780K | $583.95M | $531.56M | $502.52M | $472.05M | $469.75M | $334.48M | $311.9M | $283.69M | $300.24M | $27K | $23K | $29K |
| Long-Term Liabilities | |||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $26.85M | $2.3M | $0 | $0 | $845K | $5.06M | $6.07M | $3.2M | $3.2M | $3.2M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $722K | $304K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $614.82M | $598.27M | $4.52M | $4.74M | $5.77M | $6.21M | $6.22M | $2.26M | $1.6M | $1.88M | -$3.2M | -$3.2M | -$3.2M |
| Total Long-Term Liabilities | $623.05M | $598.27M | $4.52M | $31.59M | $5.77M | $6.21M | $6.22M | $3.11M | $6.66M | $7.95M | $3.2M | $3.2M | $3.2M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $153.3M | $142.91M | $146.85M |
| Total Liabilities | $623.05M | $598.57M | $536.08M | $534.11M | $477.82M | $475.95M | $340.7M | $315.01M | $290.35M | $308.19M | $156.53M | $146.13M | $150.08M |
| Stockholders' Equity | |||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $3.73M | $3.81M | $3.97M | $3.97M | $4.08M | $4.18M | $4.2M | $3.81M | $3.45M | $3.44M | $2.22M | $2.22M | $2.22M |
| Retained Earnings | $24.17M | $17.47M | $15.24M | $12.19M | $6.7M | $2.51M | $4.05M | $4.63M | $2.66M | $544K | -$644K | -$1.63M | -$2.55M |
| Comprehensive Income & Other | -$8.85M | -$11.76M | -$12.26M | -$12.34M | -$1.06M | $166K | -$26K | -$299K | -$109K | -$25K | $15K | $22K | -$7K |
| Other Stockholders' Equity | $32.3M | $30.14M | $30.89M | $30.49M | $42.84M | $45.12M | $39.45M | $34.02M | $31.32M | $31.36M | $20.96M | $20.93M | $20.89M |
| Total Equity | $60.2M | $51.42M | $50.11M | $46.66M | $53.62M | $51.81M | $47.7M | $42.46M | $37.44M | $35.35M | $22.54M | $21.52M | $20.55M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $683.25M | $650M | $586.19M | $580.76M | $531.44M | $527.77M | $388.4M | $357.47M | $327.78M | $343.54M | $179.07M | $167.65M | $170.64M |
| Supplementary Data | |||||||||||||
| Total Debt | $8M | $2.25M | $2.56M | $26.85M | $4.6M | $2.79M | $0 | $845K | $5.06M | $6.07M | $3.2M | $3.2M | $3.2M |
| Net Debt | -$583K | -$64.1M | -$12.86M | $13.34M | -$18.64M | -$50.77M | -$43.15M | -$34.47M | -$23.32M | -$30.79M | -$22.05M | -$22.6M | -$28.59M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 |
| Operating Activities | |||||||||||||
| Net Income | $6.71M | $3.01M | $3.05M | $5.49M | $4.19M | $4.03M | $4.79M | $5.04M | $2.12M | $1.19M | $1.14M | $920K | $1.45M |
| Depreciation & Amortization | $0 | $0 | $881K | $880K | $996K | $976K | $824K | $429K | $430K | $179K | $160K | $166K | $165K |
| Deferred Income Tax | $0 | $0 | -$192K | $30K | -$203K | -$598K | $225K | $362K | $842K | -$31K | -$36K | $415K | -$593K |
| Stock-Based Compensation | $0 | $0 | $418K | $330K | $241K | $149K | $124K | $73K | $44K | $42K | $38K | $18K | $18K |
| Changes in Working Capital: | |||||||||||||
| Accounts Receivable | $0 | $288K | -$531K | -$456K | $819K | -$903K | -$194K | $11K | -$153K | -$340K | $8K | $21K | $35K |
| Inventory | $0 | $0 | $212K | $383K | $481K | $209K | $261K | $0 | $0 | $148K | $0 | $365K | $163K |
| Accounts Payable | $0 | $0 | $329K | $18K | -$17K | -$74K | $78K | $9K | -$41K | $16K | $4K | -$6K | -$30K |
| Other Working Capital | -$537K | -$529K | -$212K | -$383K | -$481K | -$209K | -$261K | -$259K | -$282K | $32K | $232K | $224K | $91K |
| Total Working Capital Change | -$537K | -$241K | -$202K | -$438K | $802K | -$977K | -$116K | $20K | -$194K | -$292K | $244K | $239K | $96K |
| Other Non-Cash Items | -$4.44M | $2.01M | $28K | -$3.03M | $1.64M | $1.9M | $642K | -$503K | $253K | $717K | $75K | $166K | $112K |
| Net Cash from Operating | $1.73M | $4.78M | $3.98M | $3.27M | $7.66M | $5.48M | $6.49M | $5.42M | $3.5M | $1.8M | $1.62M | $1.92M | $1.25M |
| Investing Activities | |||||||||||||
| Capital Expenditures | -$3.56M | -$1.33M | -$257K | -$78K | -$54K | -$81K | -$2.79M | -$189K | -$123K | -$1.8M | -$45K | -$91K | -$23K |
| Acquisitions | $17K | $0 | $0 | -$81.19M | $92.47M | -$113.49M | -$25.33M | -$25.58M | $20.98M | $41.41M | -$11.38M | $0 | -$15.4M |
| Purchases of Investments | -$1.53M | -$12.39M | $0 | -$37.2M | -$87.85M | -$11.26M | -$3.09M | -$3.01M | -$8.4M | -$31K | -$1.91M | $0 | -$1.98M |
| Sales of Investments | $11.44M | $23.86M | $8.64M | $12.91M | $7.69M | $4.09M | $3.62M | $2.3M | $1.67M | $541K | $1.41M | $1.7M | $2.83M |
| Other Investing Activities | -$57.23M | -$23.32M | -$10.62M | -$1.16M | -$175K | -$3.06M | -$249K | $174K | $20.03M | -$43.54M | -$11.46M | -$5.43M | -$15.45M |
| Net Cash from Investing | -$50.86M | -$13.18M | -$2.23M | -$106.71M | $12.08M | -$123.8M | -$27.84M | -$26.31M | $13.18M | -$3.43M | -$12.01M | -$3.82M | -$14.62M |
| Financing Activities | |||||||||||||
| Debt Repaid | - | - | $26.85M | -$26.85M | - | - | $845K | $4.21M | $1.01M | $169K | - | - | -$1.2M |
| Common Stock Issuance | $6K | $85K | $125K | $145K | $140K | $77K | $29K | $106K | $7K | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$1.45M | -$1.89M | -$211K | -$1.7M | -$1.58M | -$333K | $0 | $0 | $0 | -$6K | $0 | $0 | $0 |
| Dividends Paid | $0 | -$787K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$155K | $0 | $0 |
| Other Financing Activities | $18.32M | $60.8M | $28.84M | $30.64M | $2.51M | $135.34M | $22.52M | $28.31M | -$16.43M | $34.41M | $9.99M | -$4.09M | $22.68M |
| Net Cash from Financing | $16.88M | $58.21M | $1.77M | $55.79M | $928K | $135.08M | $21.7M | $24.1M | -$17.45M | $34.23M | $9.84M | -$4.09M | $23.88M |
| Forex Effect | $32.25M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $0 | $49.81M | $3.51M | -$47.65M | $20.67M | $16.77M | $357K | $3.21M | -$770K | $32.6M | -$552K | -$5.98M | $10.52M |
| Supplementary Data | |||||||||||||
| Operating Cash Flow | $1.73M | $4.78M | $3.98M | $3.27M | $7.66M | $5.48M | $6.49M | $5.42M | $3.5M | $1.8M | $1.62M | $1.92M | $1.25M |
| Capital Expenditure | -$1.43M | -$1.33M | -$257K | -$78K | -$54K | -$81K | -$2.79M | -$189K | -$123K | -$1.8M | -$45K | -$91K | -$23K |
| Free Cash Flow | $305K | $3.45M | $3.73M | $3.19M | $7.61M | $5.4M | $3.7M | $5.23M | $3.37M | $0 | $1.58M | $1.83M | $1.23M |
| Cash at Beginning | $0 | $14.29M | $10.78M | $58.43M | $37.76M | $20.99M | $8.43M | $5.22M | $6M | $4.26M | $25.8M | $31.79M | $21.27M |
| Cash at End | $0 | $64.1M | $14.29M | $10.78M | $58.43M | $37.76M | $8.79M | $8.43M | $5.22M | $36.86M | $25.25M | $25.8M | $31.79M |