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



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First Federal Bank of Florida
GeneralFDIC 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
LocationAddress: 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 ChangesChange in Primary Regulatory Agency
Financial SummaryTotal 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)
Total employees (full-time equivalent)326
Total assets$978,399
Cash and due from depository institutions$145,427
Interest-bearing balances$83,779
Securities$219,694
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$500,799
Loan loss allowance $6,409
Trading account assets$0
Bank premises and fixed assets$27,103
Other real estate owned$7,986
Goodwill and other intangibles$17,752
All other assets$59,638
Life insurance assets$978,400
Total liabilities and capital$858,353
Total liabilities$771,420
Total deposits$692,062
Interest-bearing deposits$771,420
Deposits held in domestic offices$49
% insured (estimated)58313.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$12,090
Other borrowed funds $0
Subordinated debt $16,530
All other liabilities $120,047
Total equity capital$120,047
Total bank equity capital$120,047
Perpetual preferred stock$0
Common stock$1
Surplus$18,000
Undivided profits $102,046
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $30,523
Earning assets $9,952
Long-term assets (5+ years) $4,082
Average Assets, year-to-date $804,272
Average Assets, quarterly $0
Volatile liabilities $953,766
Insider loans $966,888
FHLB advances $563,887
Loans and leases held for sale $975,195
Unused loan commitments $21,215
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $117,676
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $139,489
Derivatives$6,310
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $35,352
Total interest expense $6,146
Net interest income $29,206
Provision for loan and lease losses $4,390
Total noninterest income $13,979
Fiduciary activities $0
Service charges on deposit accounts $1,631
Trading account gains & fees -$23
Additional noninterest income $12,371
Total noninterest expense $31,123
Salaries and employee benefits $19,908
Premises and equipment expense $4,768
Additional noninterest expense $6,447
Pre-tax net operating income $7,672
Securities gains (losses) $4,570
Applicable income taxes $3,692
Income before extraordinary items $8,550
Extraordinary gains - net $0
Net income attributable to bank $8,550
Net charge-offs $0
Cash dividends $8,550
Sale, conversion, retirement of capital stock, net $4,734
Net operating income $1,000
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.23%
Cost of funding earning assets 0.74%
Net interest margin 3.49%
Noninterest income to earning assets 1.67%
Noninterest expense to earning assets 3.72%
Net operating income to assets 0.56%
Return on assets (ROA) 0.90%
Pretax return on assets 1.28%
Return on equity (ROE) 8.04%
Retained earnings to average equity (YTD only) 7.10%
Net charge-offs to loans 1.00%
Credit loss provision to net charge-offs 92.73%
Efficiency ratio2.55%
Assets per employee$71,722
Cash dividends to net income (YTD only)3.00%
Condition Ratios (%)
Loss allowance to loans 11.70%
Loss allowance to noncurrent loans 1.26%
Noncurrent assets plus other real estate owned to assets 21.00%
Noncurrent loans to loans 3.89%
Net loans and leases to deposits6.02%
Net loans and leases to core deposits 64.92%
Equity capital to assets 68.81%
Core capital (leverage) ratio 12.27%
Tier 1 risk-based capital ratio 12.07%
Total risk-based capital ratio 20.87%
Memoranda
Average assets$22
Average earning assets$953,766
Average equity $106,373
Average loans $835,993
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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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