First Federal Bank of Florida in Lake City, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • First Federal Bank of Florida in Lake City, Florida (FL)
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First Federal Bank of Florida - Overview

  • General
  • FDIC Certificate #: 31313
    Status: Active
    Federal Reserve ID: 384278
    Date Established: January 01, 1961
    WWW: http://www.ffsb.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 18 (Domestic: 18, Interstate: No)
    OTS Docket #: 6707
    FDIC's unique #: 44147
    Numeric code: 34
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: Febuary 16, 1962
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 4705 West Us Highway 90, Lake City, FL 32055
    County: Columbia
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Gainesville
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Core Based Statistical Area (CBSA): Lake City, FL (#29380)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $978.4 mil
    Equity capital: $120.0 mil
    Deposits held in domestic offices: $771.4 mil
    Return on assets (ROA): 0.90% ($8.8 mil)
    Quarterly return on assets: 0.74% ($7.2 mil)
    Return on Equity (ROE): 8.04% ($9.6 mil)
    Quarterly return on equity: 5.98% ($7.2 mil)
    Net income: $8.6 mil
    Quarterly Net income: $1.8 mil
    Pretax return on assets: 1.28% ($12,523.5 mil)
    Quarterly Pretax return on assets: 1.05% ($10,273.2 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 326Total employees (full-time equivalent)
  • $978,399Total assets
  • $145,427Cash and due from depository institutions
  • $83,779Interest-bearing balances
  • $219,694Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $500,799Net loans & leases
  • $6,409Loan loss allowance
  • $0Trading account assets
  • $27,103Bank premises and fixed assets
  • $7,986Other real estate owned
  • $17,752Goodwill and other intangibles
  • $978,400Life insurance assets
  • $59,638All other assets
  • $858,353Total liabilities and capital
  • $771,420Total liabilities
  • $692,062Total deposits
  • $771,420Interest-bearing deposits
  • $49Deposits held in domestic offices
  • 58313.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $12,090Trading liabilities
  • $0Other borrowed funds
  • $16,530Subordinated debt
  • $120,047All other liabilities
  • $120,047Total equity capital
  • $120,047Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $18,000Surplus
  • $102,046Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $30,523Income earned, not collected on loans
  • $9,952Earning assets
  • $4,082Long-term assets (5+ years)
  • $804,272Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $953,766Volatile liabilities
  • $966,888Insider loans
  • $563,887FHLB advances
  • $975,195Loans and leases held for sale
  • $21,215Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $117,676Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $139,489Restructured Loans and leases
  • $6,310Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $35,352Total interest income
  • $6,146Total interest expense
  • $29,206Net interest income
  • $4,390Provision for loan and lease losses
  • $13,979Total noninterest income
  • $0Fiduciary activities
  • $1,631Service charges on deposit accounts
  • -$23Trading account gains & fees
  • $12,371Additional noninterest income
  • $31,123Total noninterest expense
  • $19,908Salaries and employee benefits
  • $4,768Premises and equipment expense
  • $6,447Additional noninterest expense
  • $7,672Pre-tax net operating income
  • $4,570Securities gains (losses)
  • $3,692Applicable income taxes
  • $8,550Income before extraordinary items
  • $0Extraordinary gains - net
  • $8,550Net income attributable to bank
  • $0Net charge-offs
  • $8,550Cash dividends
  • $4,734Sale, conversion, retirement of capital stock, net
  • $1,000Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.23%Yield on earning assets
  • 0.74%Cost of funding earning assets
  • 3.49%Net interest margin
  • 1.67%Noninterest income to earning assets
  • 3.72%Noninterest expense to earning assets
  • 0.56%Net operating income to assets
  • 0.90%Return on assets (ROA)
  • 1.28%Pretax return on assets
  • 8.04%Return on equity (ROE)
  • 7.10%Retained earnings to average equity (YTD only)
  • 1.00%Net charge-offs to loans
  • 92.73%Credit loss provision to net charge-offs
  • 2.55%Efficiency ratio
  • 71,722Assets per employee
  • 3.00%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 11.70%Loss allowance to loans
  • 1.26%Loss allowance to noncurrent loans
  • 21.00%Noncurrent assets plus other real estate owned to assets
  • 3.89%Noncurrent loans to loans
  • 6.02%Net loans and leases to deposits
  • 64.92%Net loans and leases to core deposits
  • 68.81%Equity capital to assets
  • 12.27%Core capital (leverage) ratio
  • 12.07%Tier 1 risk-based capital ratio
  • 20.87%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $953,766Average earning assets
  • $106,373Average equity
  • $835,993Average loans

List of branches

  • 18 Florida Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    044147First Federal Bank Of Florida4705 West Us Highway 90, Lake City, FL 32055January 01, 1961Full Service Brick and Mortar
    1284142Jasper Branch507 Hatley Street Sw, Jasper, FL 32052January 01, 1961Full Service Brick and Mortar
    100284143Highway 51 N. Branch187 North Fletcher Avenue, Mayo, FL 32066January 01, 1961Full Service Brick and Mortar
    102284145Highway 90 W. Branch2571 Us Highway 90 West, Lake City, FL 32055June 30, 1985Full Service Brick and Mortar
    1032841461255 South First Street Branch707 Sw Main Blvd, Lake City, FL 32025June 30, 1989Full Service Brick and Mortar
    104284147Dowling Park Branch11035 County Road 136, Dowling Park, FL 32060March 01, 1990Full Service Brick and Mortar
    105284148Live Oak Branch1102 North Ohio Avenue, Live Oak, FL 32064April 03, 1997Full Service Brick and Mortar
    106424808South Ohio Avenue Branch804 Ohio Avenue South, Live Oak, FL 32064June 16, 2003Full Service Brick and Mortar
    107492461Macclenny Branch784 South 6th Street, Macclenny, FL 32063April 01, 2008Full Service Brick and Mortar
    108495516Fernandina Beach Branch1500 Sadler Rd, Fernandina Beach, FL 32034November 06, 2006Full Service Brick and Mortar
    1097434826th Street Bradenton Branch6004 26th Street West, Bradenton, FL 34207May 18, 1999Full Service Brick and Mortar
    110361538Cattleridge Branch3451 Cattlemen Rd, Sarasota, FL 34232Febuary 01, 2000Full Service Brick and Mortar
    111436704Lockwood Ridge Branch8307 Lockwood Ridge Road, Sarasota, FL 34243January 10, 2005Full Service Brick and Mortar
    112476021Osprey Branch126 South Osprey Avenue, Sarasota, FL 34236April 07, 2008Full Service Brick and Mortar
    1138895Bonifay Branch300 North Waukesha Street, Bonifay, FL 32425Febuary 01, 1906Full Service Brick and Mortar
    114440525Marianna Branch2914 Green Street, Marianna, FL 32446May 16, 2005Full Service Brick and Mortar
    116457580Chipley Branch1012 Main Street, Chipley, FL 32428December 18, 2006Full Service Brick and Mortar
    118517944Yulee Branch463845 State Road 200, Yulee, FL 32097September 07, 2009Full Service Brick and Mortar

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