First Bank (FL) is headquartered in Clewiston and is the 85th largest bank in the state of Florida. It is also the 2,428th largest bank in the nation. It was established in 1922 and as of March of 2014, it had grown to 84 employees at 5 locations. First Bank (FL)'s savings rates are 35% higher than the national average, and it has a B+ health rating.
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Data for Q1 2014
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First Bank (FL) had $4.94 million in non-current loans and owned real-estate with $26.58 million in equity and loan loss allowances on hand to cover it. This gives First Bank (FL) a Texas Ratio of 18.60% which is above 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 dramatically from 33.04% as of March 31, 2013 to 18.60% as of March 31, 2014, resulting in a positive change of 43.70%.This indicates that the balance sheet and financial strength for First Bank (FL) has improved dramatically in recent periods.
Deposit Growth
In the past year, First Bank (FL) has increased its total deposits by $26.77 million, resulting in 12.44% 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 $265.93 million in assets with $26.58 million in equity, resulting in a capitalization level of 10.00%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 9620 |
| Year Established | 1922 |
| Employees | 84 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $265.93 million |
| Loans | $177.09 million |
| Deposits | $242.03 million |
| Equity Capital | $22.77 million |
| Loan Loss Allowance | $3.81 million |
| Unbacked Noncurrent Loans | $861,000 |
| Real Estate Owned | $4.08 million |
| Historic Data - March 2013 | |
|---|---|
| Assets | $238.28 million |
| Equity Capital | $21.91 million |
| Loan Loss Allowance | $3.56 million |
| Unbacked Noncurrent Loans | $861,000 |
| Real Estate Owned | $5.88 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.28% |
| Return on Assets | 0.38% |
| Return on Equity | 4.33% |
| Interest Income | $2.56 million |
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First Bank (FL) Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.70% | - | $25k | Kasasa Saver - Qualifying | |
| 0.15% | $50 | - | Savings Account | |
| 0.15% | $50 | - | Business Savings Account | |
| 0.05% | - | - | Kasasa Saver - Non Qualifying |
First Bank (FL) Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.40% | $1m | - | HI-FI Money Market | |
| 0.40% | $1m | - | Business HI-FI Money Market |
First Bank (FL) Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.76% | - | $25k | Kasasa Cash - Qualifying | |
| 0.20% | $500k | - | Super NOW Checking | |
| 0.05% | - | - | Kasasa Cash - Non Qualifying |
First Bank (FL) CD Rates
| Details | 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
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.36% | $2,500 | - | 60 Month IRA | |
| 1.11% | $2,500 | - | 48 Month IRA | |
| 1.00% | $2,500 | - | 36 Month IRA | |
| 0.70% | $2,500 | - | 24 Month IRA | |
| 0.60% | $2,500 | - | 18 Month IRA | |
| 0.50% | $2,500 | - | 12 Month IRA | |
| 0.30% | $2,500 | - | 6 Month IRA | |
| 0.10% | $2,500 | - | 3 Month IRA |
| First Bank (FL) Locations | ||
|---|---|---|
| Berner Road Branch | 101 South Berner Road | Clewiston, FL 33440 |
| Ft. Myers Branch | 11741 Palm Beach Blvd, Suite 100 | Fort Myers, FL 33905 |
| Moore Haven Branch | 1212 N US Hwy 27 Sw | Moore Haven, FL 33471 |
| First Bank | 300 East Sugarland Highway | Clewiston, FL 33440 |
| LA Belle Branch | 301 Hwy 80 W | LA Belle, FL 33935 |