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125 Main Street
Destin, FL 32541

First Florida Bank is headquartered in Destin and is the 102nd largest bank in the state of Florida. It is also the 2,682nd largest bank in the nation. It was established in 2006 and as of December of 2013, it had grown to 52 employees at 4 locations. First Florida Bank has a A+ health rating.

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First Florida Bank

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.


Data for Q4 2013

Institution Health


Texas Ratio


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 Florida Bank had $1.12 million in non-current loans and owned real-estate with $29.25 million in equity and loan loss allowances on hand to cover it. This gives First Florida Bank a Texas Ratio of 3.82% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for First Florida Bank decreased dramatically from 5.89% as of December 31, 2012 to 3.82% as of December 31, 2013, resulting in a positive change of 35.14%.This indicates that the balance sheet and financial strength for First Florida Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, First Florida Bank has increased its total deposits by $26.21 million, resulting in 14.32% 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 $236.14 million in assets with $29.25 million in equity, resulting in a capitalization level of 12.39%, which is excellent.

Institution Statistics

FDIC Certificate #58370
Year Established2006
Primary RegulatorFDIC
Assets and Liabilities
Assets$236.14 million
Loans$122.48 million
Deposits$209.28 million
Equity Capital$26.74 million
Loan Loss Allowance$2.51 million
Unbacked Noncurrent Loans$524,000
Real Estate Owned$593,000
Historic Data - December 2012
Assets$210.03 million
Equity Capital$26.18 million
Loan Loss Allowance$1.98 million
Real Estate Owned$1.66 million
Profit Margin - Quarterly
Net Interest Margin3.57%
Return on Assets1.48%
Return on Equity12.68%
Interest Income$8.78 million

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First Florida Bank Locations
First Florida Bank125 Main StreetDestin, FL 32541
Mary Esther Boulevard Branch302 Mary Esther BlvdMary Esther, FL 32569
Niceville Branch750 John Sims Pkwy ENiceville, FL 32578
Destin East Branch9461 Emerald Coast ParkwayDestin, FL 32550