First Bank (FL)

300 East Sugarland Highway
Clewiston, FL 33440
(863) 983-8191
www.first1bank.net

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First Bank (FL) is headquartered in Clewiston and is the 95^th largest bank in the state of Florida. It is also the 2,700^th largest bank in the nation. It was established in 1922 and as of December of 2012, it had grown to 83 employees at 6 locations. First Bank (FL)'s savings rates are 35% higher than the national average, and it has a 4-star health rating.

FDIC Forces Another Bank To Slash Its Reward Checking Rate - 2/29/2012

Another community bank is being forced by the FDIC to slash its reward checking rate. First Bank of Clewiston, FL notified its customers of the rate cut and the reason behind it. The bank also posted ...

Best High-Yield Reward Checking Accounts in Florida - 4/28/2011

Last week I reviewed some of the best Texas reward checking accounts . This week I'll review some of the best in Florida. For those not familiar with reward checking, you may want to review my recent ...

First Bank Reward Checking APY Drop (Forum) - 2/19/2011

Just a headsup. As of March 1st, First Bank of Florida Kasasa Checking APY will drop to 2.51% from 3.51%.

Finding the Best Reward Checking and Savings Account Pair - 1/28/2011

One downside of reward checking accounts is the balance cap. This can be a major issue for someone who has a lot of liquid savings. In today's interest rate environment, liquid savings may be increasi ...

2011

1/20 - More Reviews of Top Reward Checking Accounts

2010

8/26 - Competitive CD Rate and Reward Checking Rate at First Bank in Florida
2/18 - The Ad In The Palm Beach Post For Firstbank Florida (Forum)

2009

6/17 - High-Yield Reward Checking Account at First Bank in Southwest Florida - Local Only

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See Rates for: Checking | Savings | Money Market | CD | IRA

First Bank (FL) Checking Account Rates

Apy	Min	Max	Product
0.76%	-	$25k	Kasasa Cash
0.30%	$500k	-	Super NOW Checking

First Bank (FL) Savings Account Rates

Apy	Min	Max	Product
0.70%	-	$25k	Kasasa Saver
0.15%	$50	-	Savings Account
0.15%	$50	-	Business Savings Account

First Bank (FL) Money Market Rates

Apy	Min	Max	Product
0.50%	$1m	-	HI-FI Money Market
0.50%	$1m	-	Business HI-FI Money Market

First Bank (FL) CD Rates

Apy	Min	Max	Product
1.36%	$2,500	-	60 Month CD
1.36%	$2,500	-	Business 60 Month CD
1.11%	$2,500	-	48 Month CD
1.11%	$2,500	-	Business 48 Month CD
1.00%	$2,500	-	36 Month CD
1.00%	$2,500	-	Business 36 Month CD
0.70%	$2,500	-	24 Month CD
0.70%	$2,500	-	Business 24 Month CD
0.60%	$2,500	-	18 Month CD
0.60%	$2,500	-	Business 18 Month CD
0.50%	$2,500	-	12 Month CD
0.50%	$2,500	-	Business 12 Month CD
0.30%	$2,500	-	6 Month CD
0.30%	$2,500	-	Business 6 Month CD
0.10%	$2,500	-	3 Month CD
0.10%	$2,500	-	Business 3 Month CD

First Bank (FL) IRA Rates

Apy	Min	Max	Product
1.36%	$2,500	-	60 Month IRA
1.36%	$2,500	-	60 Month Roth IRA
1.11%	$2,500	-	48 Month IRA
1.11%	$2,500	-	48 Month Roth IRA
1.00%	$2,500	-	36 Month IRA
1.00%	$2,500	-	36 Month Roth IRA
0.70%	$2,500	-	24 Month IRA
0.70%	$2,500	-	24 Month Roth IRA
0.60%	$2,500	-	18 Month IRA
0.60%	$2,500	-	18 Month Roth IRA
0.50%	$2,500	-	12 Month IRA
0.50%	$2,500	-	12 Month Roth IRA
0.30%	$2,500	-	6 Month IRA
0.30%	$2,500	-	6 Month Roth IRA
0.10%	$2,500	-	3 Month IRA
0.10%	$2,500	-	3 Month Roth IRA

Rates updated: 5/18/2013

Data for Q4 2012

Institution Statistics

First Bank
FDIC Certificate #	9620
BankRate Report	View
Year Established	1922
Employees	83
Primary Regulator	FDIC
Assets and Liabilities
Assets	$236.71 million
Loans	$170.02 million
Deposits	$214.19 million
Equity Capital	$21.58 million
Loan Loss Allowance	$3.52 million
Unbacked Noncurrent Loans	$2.70 million
Real Estate Owned	$5.93 million
Historic Data - December 2011
Assets	$229.90 million
Equity Capital	$20.52 million
Loan Loss Allowance	$4.15 million
Unbacked Noncurrent Loans	$6.43 million
Real Estate Owned	$6.14 million
Profit Margin - Quarterly
Net Interest Margin	4.6%
Return on Assets	0.46%
Return on Equity	5.13%
Interest Income	$10.34 million

Institution Health

Overall Score:

4 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 First Bank (FL) had $8.63 million in non-current loans and owned real-estate with $25.1 million in equity and loan loss allowances on hand to cover it. This gives First Bank (FL) a Texas Ratio of 34.36% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for First Bank (FL) decreased slightly from 50.77% as of December 31, 2011 to 34.36% as of December 31, 2012, resulting in a positive change of 32.31%.This indicates that the balance sheet and financial strength for First Bank (FL) has improved slightly in recent periods.
Deposit Growth
In the past year, First Bank (FL) has increased its total deposits by $10.58 million, resulting in 5.19% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Bank (FL) has shown is excellent.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Bank (FL) has $236.71 million in assets with $25.1 million in equity, resulting in a capitalization level of 10.61%, which is above average.