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386-755-0600
4705 West Us Highway 90
Lake City, FL 32055

First Federal Bank of Florida is headquartered in Lake City and is the 25th largest bank in the state of Florida. It is also the 671st largest bank in the nation. It was established in 1961 and as of December of 2013, it had grown to 350 employees at 21 locations. First Federal Bank of Florida 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 Federal Bank of Florida had $12.9 million in non-current loans and owned real-estate with $128.06 million in equity and loan loss allowances on hand to cover it. This gives First Federal Bank of Florida a Texas Ratio of 10.08% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for First Federal Bank of Florida experienced no significant changes from 7.21% as of December 31, 2012 to 10.08% as of December 31, 2013, resulting in a negative change of 39.73%. This indicates that the balance sheet and financial strength for First Federal Bank of Florida has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, First Federal Bank of Florida has increased its total deposits by $38.83 million, resulting in 4.8% 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 Federal Bank of Florida has shown is excellent.

Capitalization

GRADE:
A+

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 Federal Bank of Florida has $987.12 million in assets with $128.06 million in equity, resulting in a capitalization level of 12.97%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #31313
Year Established1961
Employees350
Primary RegulatorOCC
Assets and Liabilities
Assets$987.12 million
Loans$569.03 million
Deposits$847.51 million
Equity Capital$121.21 million
Loan Loss Allowance$6.85 million
Unbacked Noncurrent Loans$11.36 million
Real Estate Owned$1.55 million
Historic Data - December 2012
Assets$949.56 million
Equity Capital$113.31 million
Loan Loss Allowance$9.08 million
Unbacked Noncurrent Loans$11.36 million
Real Estate Owned$1.95 million
Profit Margin - Quarterly
Net Interest Margin3.96%
Return on Assets1.12%
Return on Equity9.17%
Interest Income$35.67 million
Rates
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First Federal Bank of Florida Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.08%$10k-Health Savings Account
0.05%--Student Savers
0.04%$50k-Elite
0.03%$1k-Savings
0.03%$1k-Club

First Federal Bank of Florida Money Market Rates

DetailsAPYMINMAXPRODUCT
0.31%$1m-Cash Management
0.13%$2,500-Public Funds PCMA

First Federal Bank of Florida Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.01%$5k-Interest Checking
Locations

First Federal Bank of Florida has 19 locations. Click to view all First Federal Bank of Florida locations.