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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 4,343rd largest bank in the nation. It was established in 2007 and as of March of 2014, it had grown to 27 employees at 4 locations. First FarmBank has a A health rating.

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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

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 FarmBank had $90,000 in non-current loans and owned real-estate with $11.54 million in equity and loan loss allowances on hand to cover it. This gives First FarmBank a Texas Ratio of 0.78% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for First FarmBank decreased slightly from 1.10% as of March 31, 2013 to 0.78% as of March 31, 2014, resulting in a positive change of 29.15%.This indicates that the balance sheet and financial strength for First FarmBank has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, First FarmBank has increased its total deposits by $33.33 million, resulting in 47.83% 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:
B

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 $117.31 million in assets with $11.54 million in equity, resulting in a capitalization level of 9.84%, which is above average.

Institution Statistics

Overall
FDIC Certificate #58508
Year Established2007
Employees27
Primary RegulatorFDIC
Assets and Liabilities
Assets$117.31 million
Loans$76.13 million
Deposits$103.02 million
Equity Capital$10.64 million
Loan Loss Allowance$898,000
Unbacked Noncurrent Loans$90,000
Real Estate Owned$0
Historic Data - March 2013
Assets$85.56 million
Equity Capital$9.13 million
Loan Loss Allowance$776,000
Unbacked Noncurrent Loans$90,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.93%
Return on Assets0.43%
Return on Equity4.9%
Interest Income$1.21 million
Rates

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Locations


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