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Overview / Commentary
970-346-7900
2939 65Th Avenue
Greeley, CO 80634

First FarmBank is headquartered in Greeley and is the 61st largest bank in the state of Colorado. It is also the 4,418st largest bank in the nation. It was established in 2007 and as of December of 2013, it had grown to 26 employees at 4 locations. First FarmBank has a A health rating.

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Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A+

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, 2013 First FarmBank had $99,000 in non-current loans and owned real-estate with $10.61 million in equity and loan loss allowances on hand to cover it. This gives First FarmBank a Texas Ratio of 0.93% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Deposit Growth

GRADE:
A+

In the past year, First FarmBank has increased its total deposits by $30.21 million, resulting in 43.14% 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 FarmBank has shown is excellent.

Capitalization

GRADE:
C+

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 FarmBank has $113.72 million in assets with $10.61 million in equity, resulting in a capitalization level of 9.33%, which is average.

Institution Statistics

Overall
FDIC Certificate #58508
Year Established2007
Employees26
Primary RegulatorFDIC
Assets and Liabilities
Assets$113.72 million
Loans$81.04 million
Deposits$100.24 million
Equity Capital$9.77 million
Loan Loss Allowance$837,000
Unbacked Noncurrent Loans$99,000
Real Estate Owned$0
Historic Data - December 2012
Assets$84.47 million
Equity Capital$8.94 million
Loan Loss Allowance$780,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.18%
Return on Assets0.65%
Return on Equity6.78%
Interest Income$4.34 million
Rates

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Locations


First FarmBank Locations
First Farmbank127 22nd StreetGreeley, CO 80631
Yuma Colorado Branch501 E. 8th AvenueYuma, CO 80759