First Bank (FL)

300 E. 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 108^th largest bank in the state of Florida. It is also the 2,656^th largest bank in the nation. It was established in 1922 and as of September of 2011, it had grown to 83 employees at 6 locations. First Bank (FL)'s savings rates are 73% higher than the national average, and it has a 3-star health rating.

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

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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
1.51%	-	$25k	Kasasa Cash
0.50%	$500k	-	Super NOW Checking
0.50%	$500k	-	Business Super NOW Checking

First Bank (FL) Savings Account Rates

Apy	Min	Max	Product
0.90%	-	$25k	Kasasa Saver
0.15%	-	-	Savings Account
0.15%	-	-	Business Savings Account

First Bank (FL) Money Market Rates

Apy	Min	Max	Product
0.55%	$1m	-	HI-FI Money Market
0.55%	$1m	-	Business HI-FI Money Market

First Bank (FL) CD Rates

Apy	Min	Max	Product
1.51%	$2,500	-	60 Month CD
1.51%	$2,500	-	Business 60 Month CD
1.26%	$2,500	-	48 Month CD
1.26%	$2,500	-	Business 48 Month CD
1.21%	$2,500	-	36 Month CD
1.21%	$2,500	-	Business 36 Month CD
0.85%	$2,500	-	24 Month CD
0.85%	$2,500	-	Business 24 Month CD
0.75%	$2,500	-	18 Month CD
0.75%	$2,500	-	Business 18 Month CD
0.60%	$2,500	-	12 Month CD
0.60%	$2,500	-	Business 12 Month CD
0.35%	$2,500	-	6 Month CD
0.35%	$2,500	-	Business 6 Month CD
0.20%	$2,500	-	3 Month CD
0.20%	$2,500	-	Business 3 Month CD

First Bank (FL) IRA Rates

Apy	Min	Max	Product
1.51%	$2,500	-	60 Month IRA
1.51%	$2,500	-	60 Month Roth IRA
1.26%	$2,500	-	48 Month IRA
1.26%	$2,500	-	48 Month Roth IRA
1.21%	$2,500	-	36 Month IRA
1.21%	$2,500	-	36 Month Roth IRA
0.85%	$2,500	-	24 Month IRA
0.85%	$2,500	-	24 Month Roth IRA
0.75%	$2,500	-	18 Month IRA
0.75%	$2,500	-	18 Month Roth IRA
0.60%	$2,500	-	12 Month IRA
0.60%	$2,500	-	12 Month Roth IRA
0.35%	$2,500	-	6 Month IRA
0.35%	$2,500	-	6 Month Roth IRA
0.20%	$2,500	-	3 Month IRA
0.20%	$2,500	-	3 Month Roth IRA

Rates updated: 2/10/2012

Data for Q3 2011

Institution Statistics

First Bank
FDIC Certificate #	9620
BankRate Report	View
Year Established	1922
Employees	83
Primary Regulator	FDIC
Assets and Liabilities
Assets	$239.96 million
Loans	$175.23 million
Deposits	$211.94 million
Equity Capital	$19.89 million
Loan Loss Allowance	$3.86 million
Unbacked Noncurrent Loans	$9.78 million
Real Estate Owned	$5.13 million
Historic Data - September 2010
Assets	$250.17 million
Equity Capital	$19.19 million
Loan Loss Allowance	$3.71 million
Unbacked Noncurrent Loans	$11.92 million
Real Estate Owned	$4.13 million
Profit Margin - Quarterly
Net Interest Margin	4.12%
Return on Assets	-0.73%
Return on Equity	-9.2%
Interest Income	$7.96 million

Institution Health

Overall Score:

3 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 September 30, 2011 First Bank (FL) had $14.91 million in non-current loans and owned real-estate with $23.75 million in equity and loan loss allowances on hand to cover it. This gives First Bank (FL) a Texas Ratio of 62.78% 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) held steady from 68.49% as of September 30, 2010 to 62.78% as of September 30, 2011, resulting in a positive change of 8.34%.This indicates that the balance sheet and financial strength for First Bank (FL) has held steady in recent periods.
Deposit Growth
In the past year, First Bank (FL) has decreased its total deposits by $-568,000, resulting in -0.27% 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 average.
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 $239.96 million in assets with $23.75 million in equity, resulting in a capitalization level of 9.90%, which is average.