First Federal Bank of North Florida

Headquarters

511 St Johns Ave
Palatka, FL 32177
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.85% →
1-Year CD N.A. 0.70% →
2-Year CD N.A. 0.75% →
5-Year CD N.A. 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

First Federal Bank of North Florida is an FDIC insured institution located in Palatka, FL. It was founded in 1934 and has approximately $0.44 billion in assets.

On April 16, 2010 TD Bank, National Association (N.A.), Wilmington, Delaware, acquired the banking operations, including all the deposits, of three Florida-based institutions. To protect depositors, the Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement with TD Bank, N.A. The institutions were closed by their respective chartering authority, and the FDIC was named receiver for each institution. AmericanFirst Bank, Clermont, was closed by the Florida Office of Financial Regulation; First Federal Bank of North Florida, Palatka, was closed by the Office of Thrift Supervision; and Riverside National Bank of Florida, Fort Pierce, was closed by the Office of the Comptroller of the Currency. The three failed institutions were not affiliated with one another.

FDIC Insured Yes
FDIC Certificate # 28886
Date Established 1934
Assets $ 393.95 million
Loans $ 312.34 million
Deposits $ 324.20 million
Capital $ 6.30 million
 

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

Deposit Rates - September 19, 2021

Your Current Location: Connecticut, CT 06828

 

Loan Rates - September 19, 2021

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for First Federal Bank of North Florida

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




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2.575% 2.500%
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Note to First Federal Bank of North Florida
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Branches

First Federal Bank of North Florida 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:
Fairfield,Connecticut


First Federal Bank of North Florida Locations


Financial Details

First Federal Bank of North Florida Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Federal Bank of North Florida. 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 Federal Bank of North Florida U.S. Bank Average
125.51% 5.29%

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, 2021, First Federal Bank of North Florida had $23,956,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $6,299,000 in equity and $12,788,000 in loans loss reserves. That gives it a Texas Ratio of 125.51%.

Return on Equity
First Federal Bank of North Florida U.S. Bank Average
-109% 11.43%

First Federal Bank of North Florida has a Return on Equity of -109% versus the BestCashCow average of 11.43%. 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 Federal Bank of North Florida U.S. Bank Average
1.6% 11.51%

First Federal Bank of North Florida has a Capitalization of 1.6% versus the BestCashCow average of 11.51. 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 Federal Bank of North Florida Balance Sheet Analysis

As of November 30, -0001, First Federal Bank of North Florida had assets of $440,122,000, loans of $312,340,000, and deposits of $324,198,000. 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, 2021
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 $ 312.34 million
Loan loss allowance $ 12.79 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 N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 324.20 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 $ 393.95 million

Summary Income Statement

March 31, 2021
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 Federal Bank of North Florida’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Credit Card Loans.

Compared to other banks, First Federal Bank of North Florida’s loan portfolio does not show any specific loan specialty.

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 0.00
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Frequently Asked Questions About First Federal Bank Of North Florida

Branches and Savings

Is First Federal Bank Of North Florida FDIC insured?

Yes. It is covered under FDIC Certificate #28886.

Why does First Federal Bank Of North Florida pay such low interest on savings accounts?

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

Why are First Federal Bank Of North Florida CD rates not competitive?

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

Is First Federal Bank Of North Florida a commercial bank?

Yes

Where are First Federal Bank Of North Florida locations?

See branch locations nearby.

Is First Federal Bank Of North Florida open on Saturdays?

Is First Federal Bank Of North Florida open on Sundays?

What time does First Federal Bank Of North Florida open?

What time does First Federal Bank Of North Florida close?

Are First Federal Bank Of North Florida ATMs Open 24/7?

Do First Federal Bank Of North Florida ATMs accept cash deposits?

Can First Federal Bank Of North Florida customers use other ATMs?

Do First Federal Bank Of North Florida branches have notaries?

Will First Federal Bank Of North Florida notarize my document?

What address for First Federal Bank Of North Florida should I put for incoming ACH transfers?

Will the First Federal Bank Of North Florida branch print checks?

Do First Federal Bank Of North Florida checks expire?

Does First Federal Bank Of North Florida require US citizenship to open account?

Can First Federal Bank Of North Florida close my account?

Does First Federal Bank Of North Florida Report to credit bureaus?

Does First Federal Bank Of North Florida Use Equifax?

What is First Federal Bank Of North Florida's ACH Routing Number?

What is First Federal Bank Of North Florida's SWIFT code?

Products

Does First Federal Bank Of North Florida offer mortgages?

Compare mortgage rates here.

Does First Federal Bank Of North Florida offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First Federal Bank Of North Florida offer personal loans?

Compare personal loan rates here.

Does First Federal Bank Of North Florida offer student loans?

Will First Federal Bank Of North Florida cash a check?

Will First Federal Bank Of North Florida redeem a savings bond?

Does First Federal Bank Of North Florida cash savings bonds?

Will First Federal Bank Of North Florida cash money orders?

Can First Federal Bank Of North Florida issue a money order?

Does First Federal Bank Of North Florida do currency exchange?

Background on The Bank

Who owns First Federal Bank Of North Florida?

How long has First Federal Bank Of North Florida been around?

Can First Federal Bank Of North Florida transfer to other banks?

Does First Federal Bank Of North Florida have quick pay?

Does First Federal Bank Of North Florida accept rolled coins?

Will First Federal Bank Of North Florida accept loose change?

Where is First Federal Bank Of North Florida headquarters?

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