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First Fed Bank


Overview / Commentary
www.ourfirstfed.com
800-800-1577
105 W 8Th St
Port Angeles, WA 98362

First Fed Bank is headquartered in Port Angeles and is the 11th largest bank in the state of Washington. It is also the 540th largest bank in the nation. It was established in 1923 and as of June of 2022, it had grown to 287 employees at 14 locations. First Fed Bank's CD rates are 11% higher than the national average, and it has an A health rating.

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Reviews (1)

The Nordstrom's Of Banks

Posted by: |

I've been a First Fed customer for 13 years, and am still periodically amazed by how naturally customer service comes to them. They are an old-fashioned conservative bank, so getting a mortgage from them is no cakewalk, but in every other regard, they make life incredibly easy.

My favorite First Fed story: Several years ago, I mistook a 4 in the thousands column of my checkbook register for a 9, and proceeded to record my balance $5,000 higher than it actually was in my checking account. While making a smallish debit-card purchase, my card bounced. First I tracked my balance back and found the error. I called First Fed immediately to tell them I'd be in the next day to move money around. Here's what they said to me: "Oh, there's no rush. We'll just hold off on clearing any checks for the next couple of days til you come in." As a result, there were no fees of any kind attached to my blunder. What bank does this for a garden-variety retail customer?

(I realize this story makes me sound like a serious flake. I'm actually not -- there were a bunch of special circumstances temporarily in play.)

1


Health
A

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #28405
Year Established1923
Employees287
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.73%
Return on Equity - YTD7.54%
Annual Interest Income$35.9MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$2.01B$1.78B
LoansQ2 2022vs Q2 2021$1.46B$1.25B
DepositsQ2 2022vs Q2 2021$1.60B$1.47B
Equity CapitalQ2 2022vs Q2 2021$178.9MM$191.1MM
Loan Loss AllowanceQ2 2022vs Q2 2021$15.7MM$14.6MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$1.3MM$1.7MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not First Fed Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Fed Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*$250k*-Premium Business Savings
OTHER TIERS: 0.03% → Up to $100k | 2.50% → $100k - $250k
0.08%*$25k*-Education IRA Savings
OTHER TIERS: 0.03% → $25 - $25k
0.08%*$25k*-Roth IRA Savings
OTHER TIERS: 0.03% → $25 - $25k
0.08%*$25k*-Traditional IRA Savings
OTHER TIERS: 0.03% → $25 - $25k
0.03%$25-Holiday Club
0.03%$100-Summit Savings
0.03%$1-First Savings
0.03%--Business Savings

First Fed Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$500k*-Spruce Money Market
OTHER TIERS: 0.10% → $10k - $100k | 0.15% → $100k - $250k | 0.20% → $250k - $500k
0.15%*$100k*-First Rate Money Market
OTHER TIERS: 0.05% → $1k - $50k | 0.10% → $50k - $100k

First Fed Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.02%*$100k*-Cascade Checking
OTHER TIERS: 0.01% → $1k - $100k

First Fed Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%$25k-25 Month CD Special
4.25%$25k-Business 25 Month CD Special
4.00%$10k-13 Month CD Special
4.00%$10k-Business 13 Month CD Special
3.25%$25k-30 Month CD Bump Up Special
3.25%$25k-Business 30 Month CD Bump Up Special
2.00%$100-5 Year CD
2.00%$100-Business 5 Year CD
1.75%$100-4 Year CD
1.75%$100-Business 4 Year CD
1.25%$100-3 Year CD
1.25%$100-Business 3 Year CD
1.15%$100-2 Year CD
1.15%$100-Business 2 Year CD
1.00%$100-1 Year CD
1.00%$100-Business 1 Year CD
0.35%$100-6 Month CD
0.35%$100-Business 6 Month CD
0.25%$25-9 Month Variable Rate CD
0.25%$25-Business 9 Month Variable Rate CD
0.20%$100-3 Month CD
0.20%$100-Business 3 Month CD
0.05%$100-46 Day CD
0.05%$100-Business 46 Day CD

First Fed Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%$100-60 Month IRA CD
1.75%$100-48 Month IRA CD
1.25%$100-36 Month IRA CD
1.15%$100-24 Month IRA CD
1.00%$100-12 Month IRA CD
Locations

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