First Florida Bank is headquartered in Destin and is the 100th largest bank in the state of Florida. It is also the 2,670th largest bank in the nation. It was established in 2006 and as of September of 2013, it had grown to 50 employees at 4 locations. First Florida Bank has a A+ health rating.
I have been banking with First Florida Bank (previously Destin First Bank) since their inception. Great bank, great people, that are flexible and work with their account holders to maximize their banking experience. I have personal and business accounts here and plan on remaining a customer for as long as they will have me.
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, 2013 First Florida Bank had $593,000 in non-current loans and owned real-estate with $28.72 million in equity and loan loss allowances on hand to cover it. This gives First Florida Bank a Texas Ratio of 2.06% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for First Florida Bank decreased dramatically from 9.75% as of September 30, 2012 to 2.06% as of September 30, 2013, resulting in a positive change of 78.83%.This indicates that the balance sheet and financial strength for First Florida Bank has improved dramatically in recent periods.
In the past year, First Florida Bank has increased its total deposits by $21.5 million, resulting in 11.4% 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.
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 $237.31 million in assets with $28.72 million in equity, resulting in a capitalization level of 12.10%, which is excellent.
|FDIC Certificate #||58370|
|Assets and Liabilities|
|Equity Capital||$26.40 million|
|Loan Loss Allowance||$2.32 million|
|Real Estate Owned||$593,000|
|Historic Data - September 2012|
|Equity Capital||$25.96 million|
|Loan Loss Allowance||$1.76 million|
|Unbacked Noncurrent Loans||$0|
|Real Estate Owned||$2.63 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.53%|
|Return on Assets||1.62%|
|Return on Equity||13.78%|
|Interest Income||$6.44 million|
Sorry, we do not have rate data for First Florida Bank
|First Florida Bank Locations|
|First Florida Bank||125 Main Street||Destin, FL 32541|
|Mary Esther Boulevard Branch||302 Mary Esther Blvd||Mary Esther, FL 32569|
|Niceville Branch||750 John Sims Pkwy E||Niceville, FL 32578|
|Destin East Branch||9461 Emerald Coast Parkway||Destin, FL 32550|