First Bank of Miami

Headquarters

255 Aragon Avenue
Coral Gables, FL 33134
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

First Bank of Miami is an FDIC insured institution located in Coral Gables, FL. It was founded in 1996 and has approximately $0.19 billion in assets.

FDIC Insured Yes
FDIC Certificate # 34182
Date Established 1996
Assets $ 192.80 million
Loans $ 91.96 million
Deposits $ 175.42 million
Capital $ 16.68 million
 

For a more detailed analysis of First Bank of Miami's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 28, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - October 28, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for First Bank of Miami

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
1Rate, Inc
NMLS ID: 1948084
License#: MC-7051
2.539% 2.500% 0.50 $1,304 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.669% 2.625% 0.63 $1,450 $1,005 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR
2.990 %
After Intro: 3.500 %
Intro Period: 12 months
$25,000 Learn More
More Info

Note to First Bank of Miami
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

First Bank of Miami branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


First Bank of Miami Locations


Financial Details

First Bank of Miami Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Bank of Miami. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
First Bank of Miami U.S. Bank Average
20.87% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, First Bank of Miami had $3,391,000 in non-current loans and $386,000 in owned real estate. To cover these potential losses it had $16,677,000 in equity and $1,422,000 in loans loss reserves. That gives it a Texas Ratio of 20.87%.

Return on Equity
First Bank of Miami U.S. Bank Average
-14.14% 7.80%

First Bank of Miami has a Return on Equity of -14.14% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
First Bank of Miami U.S. Bank Average
8.65% 12.68%

First Bank of Miami has a Capitalization of 8.65% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

First Bank of Miami Balance Sheet Analysis

As of June 30, 2014, First Bank of Miami had assets of $192,800,000, loans of $91,963,000, and deposits of $175,422,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 91.96 million
Loan loss allowance $ 1.42 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.39 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 175.42 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 192.80 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in First Bank of Miami’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Florida, First Bank of Miami has a significantly higher percent of Small Business Loans, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 25.12
Multifamily
Mortgages
6.16
Credit Card Loans 0.00
Consumer Auto Loans 0.08
Small Business Loans 21.67
Construction and Development Loans 5.99
Commercial Real Estate 57.91
Commercial and Industrial Loans 5.69
Farm Loans 0.00

Frequently Asked Questions About First Bank Of Miami

Branches and Savings

Is First Bank Of Miami FDIC insured?

Yes. It is covered under FDIC Certificate #34182.

Why does First Bank Of Miami pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are First Bank Of Miami CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is First Bank Of Miami a commercial bank?

Yes

Where are First Bank Of Miami locations?

See branch locations nearby.

Is First Bank Of Miami open on Saturdays?

Is First Bank Of Miami open on Sundays?

What time does First Bank Of Miami open?

What time does First Bank Of Miami close?

Are First Bank Of Miami ATMs Open 24/7?

Do First Bank Of Miami ATMs accept cash deposits?

Can First Bank Of Miami customers use other ATMs?

Do First Bank Of Miami branches have notaries?

Will First Bank Of Miami notarize my document?

What address for First Bank Of Miami should I put for incoming ACH transfers?

Will the First Bank Of Miami branch print checks?

Do First Bank Of Miami checks expire?

Does First Bank Of Miami require US citizenship to open account?

Can First Bank Of Miami close my account?

Does First Bank Of Miami Report to credit bureaus?

Does First Bank Of Miami Use Equifax?

What is First Bank Of Miami's ACH Routing Number?

What is First Bank Of Miami's SWIFT code?

Products

Does First Bank Of Miami offer mortgages?

Compare mortgage rates here.

Does First Bank Of Miami offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First Bank Of Miami offer personal loans?

Compare personal loan rates here.

Does First Bank Of Miami offer student loans?

Will First Bank Of Miami cash a check?

Will First Bank Of Miami redeem a savings bond?

Does First Bank Of Miami cash savings bonds?

Will First Bank Of Miami cash money orders?

Can First Bank Of Miami issue a money order?

Does First Bank Of Miami do currency exchange?

Background on The Bank

Who owns First Bank Of Miami?

How long has First Bank Of Miami been around?

Can First Bank Of Miami transfer to other banks?

Does First Bank Of Miami have quick pay?

Does First Bank Of Miami accept rolled coins?

Will First Bank Of Miami accept loose change?

Where is First Bank Of Miami headquarters?

Customer Reviews for First Bank of Miami

There are currently no comments for First Bank of Miami. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →