1st Security Bancorp's first priority is to be the best bank holding company it can be. Following its 2008 IPO, it will wholly own 1st Security Bank of Washington, which is converting from a mutual savings to a stock savings bank. The state-chartered bank operates about a dozen branches across the state of Washington, with an emphasis on consumer loans for home improvement (accounting for 60%) and automobiles (about 25%). It is also expanding its focus on commercial business, real estate, and construction and development lending. Its loans are originated both directly and through third parties. Proceeds from the IPO may be used to fund new loans, purchase securities, and help scale up the bank's operations.