First FarmBank

Headquarters

2939 65th Avenue
Greeley, CO 80634
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 1.40% →
1-Year CD 0.75% 1.15% →
2-Year CD 1.00% 1.26% →
5-Year CD N.A. 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

First FarmBank is an FDIC insured institution located in Greeley, CO. It was founded in 2007 and has approximately $0.26 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 58508
Date Established 2007
Assets $ 257.13 million
Loans $ 180.95 million
Deposits $ 223.95 million
Capital $ 22.60 million
 

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

Deposit Rates - July 5, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $1,000 - Learn More
Money Market
0.10% $100 - Learn More
CD Rates APY MIN MAX
3 Mo CD
0.30% $1,000 - Learn More
6 Mo CD
0.40% $1,000 - Learn More
Special: 9 Mo CD
0.75% $1,000 - Learn More
12 Mo CD
0.75% $1,000 - Learn More
Special: 13 Mo CD
0.85% $1,000 - Learn More
18 Mo CD
0.90% $1,000 - Learn More
Special: 19 Mo CD
1.00% $1,000 - Learn More
24 Mo CD
1.00% $1,000 - Learn More
36 Mo CD
1.00% $1,000 - Learn More
48 Mo CD
1.05% $1,000 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
1.10% $1,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.10% $1 $999 Learn MoreShow Less
Int Ckg
0.15% $1,000 $9,999 Learn MoreShow Less

Loan Rates - July 5, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for First FarmBank

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
AimLoan.com
NMLS ID: 2890
License#: MC-3098
3.039% 3.000% 0.50 $1,250 $1,055 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
More Info

Note to First FarmBank
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Branches

First FarmBank 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 FarmBank Locations


Financial Details

First FarmBank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First FarmBank. 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 FarmBank U.S. Bank Average
5.02% 6.51%

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 December 31, 2019, First FarmBank had $1,255,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $22,601,000 in equity and $2,398,000 in loans loss reserves. That gives it a Texas Ratio of 5.02%.

Return on Equity
First FarmBank U.S. Bank Average
11.21% 9.41%

First FarmBank has a Return on Equity of 11.21% versus the BestCashCow average of 9.41%. 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 FarmBank U.S. Bank Average
8.79% 12.82%

First FarmBank has a Capitalization of 8.79% versus the BestCashCow average of 12.82. 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 FarmBank Balance Sheet Analysis

As of December 31, 2019, First FarmBank had assets of $257,126,000, loans of $180,953,000, and deposits of $223,954,000. 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

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 17.78 million
Interest-bearing balances $ 11.54 million
Total securities $ 44.63 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 180.95 million
Loan loss allowance $ 2.40 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 4.01 million
     Total Assets $ 234.53 million
LIABILITIES
Total deposits $ 223.95 million
      Interest-bearing deposits $ 192.64 million
      Deposits held in domestic offices $ 223.95 million
      % insured (estimated) 78.05%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 10.00 million
Subordinated debt N.A.
All other liabilities $ 0.57 million
      Total Liabilities $ 234.53 million
      Shareholders’ Equity $ 22.60 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 12.40 million
Total Interest Expense $ 2.97 million
Net interest income $ 9.43 million
Provision for loan and lease losses $ 0.03 million
Total non interest income $ 0.54 million
Total non interest expense $ 6.93 million
Pre-tax Net Operating Income $ 3.02 million

Bank Loan Profile?

The top three loan types in First FarmBank’s loan portfolio are Farm Loans, 1-4 Family Residential Loans, and Commercial Real Estate.

Compared to other banks in Colorado, First FarmBank has a significantly higher percent of Farm Loans 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 15.83
Multifamily
Mortgages
0.16
Credit Card Loans 0.00
Consumer Auto Loans 0.43
Small Business Loans 6.78
Construction and Development Loans 5.10
Commercial Real Estate 9.80
Commercial and Industrial Loans 7.93
Farm Loans 42.23

Frequently Asked Questions About First Farmbank

Branches and Savings

Is First Farmbank FDIC insured?

Yes. It is covered under FDIC Certificate #58508.

Why does First Farmbank pay such low interest on savings accounts?

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

Why are First Farmbank CD rates not competitive?

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

Is First Farmbank a commercial bank?

Yes

Where are First Farmbank locations?

See branch locations nearby.

Is First Farmbank open on Saturdays?

Is First Farmbank open on Sundays?

What time does First Farmbank open?

What time does First Farmbank close?

Are First Farmbank ATMs Open 24/7?

Do First Farmbank ATMs accept cash deposits?

Can First Farmbank customers use other ATMs?

Do First Farmbank branches have notaries?

Will First Farmbank notarize my document?

What address for First Farmbank should I put for incoming ACH transfers?

Will the First Farmbank branch print checks?

Do First Farmbank checks expire?

Does First Farmbank require US citizenship to open account?

Can First Farmbank close my account?

Does First Farmbank Report to credit bureaus?

Does First Farmbank Use Equifax?

What is First Farmbank's ACH Routing Number?

What is First Farmbank's SWIFT code?

Products

Does First Farmbank offer mortgages?

Compare mortgage rates here.

Does First Farmbank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First Farmbank offer personal loans?

Compare personal loan rates here.

Does First Farmbank offer student loans?

Will First Farmbank cash a check?

Will First Farmbank redeem a savings bond?

Does First Farmbank cash savings bonds?

Will First Farmbank cash money orders?

Can First Farmbank issue a money order?

Does First Farmbank do currency exchange?

Background on The Bank

Who owns First Farmbank?

How long has First Farmbank been around?

Can First Farmbank transfer to other banks?

Does First Farmbank have quick pay?

Does First Farmbank accept rolled coins?

Will First Farmbank accept loose change?

Where is First Farmbank headquarters?

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