First Florida Bank

First Florida Bank Locations
985 Hwy East
Destin, FL 32541
www.destinfirstbank.com

First Florida Bank is headquartered in Destin and is the 136th largest bank in the state of Florida. It is also the 3,316st largest bank in the nation. It was established in 2006 and as of March of 2012, it had grown to 35 employees at 2 locations. First Florida Bank has a 5-star health rating.

First Florida Bank Routing Number: 063216187

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Data for Q1 2012


Institution Statistics


First Florida Bank
FDIC Certificate #58370
BankRate ReportView
Year Established2006
Employees35
Primary RegulatorFDIC

Assets and Liabilities

Assets$184.87 million
Loans$91.71 million
Deposits$159.78 million
Equity Capital$24.54 million
Loan Loss Allowance$1.93 million
Real Estate Owned$2.60 million

Historic Data - March 2011

Assets$170.43 million
Equity Capital$21.11 million
Loan Loss Allowance$2.43 million
Unbacked Noncurrent Loans$692,000
Real Estate Owned$3.75 million

Profit Margin - Quarterly

Net Interest Margin3.61%
Return on Assets1.76%
Return on Equity13.12%
Interest Income$1.88 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio4
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 March 31, 2012 First Florida Bank had $2.6 million in non-current loans and owned real-estate with $26.48 million in equity and loan loss allowances on hand to cover it. This gives First Florida Bank a Texas Ratio of 9.83% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for First Florida Bank decreased significantly from 18.87% as of March 31, 2011 to 9.83% as of March 31, 2012, resulting in a positive change of 47.88%.This indicates that the balance sheet and financial strength for First Florida Bank has improved significantly in recent periods.
Deposit Growth5
In the past year, First Florida Bank has increased its total deposits by $10.81 million, resulting in 7.26% 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 Florida Bank has shown is excellent.
Capitalization5
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 Florida Bank has $184.87 million in assets with $26.48 million in equity, resulting in a capitalization level of 14.32%, which is excellent.
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