First Federal Bank of Ohio

Headquarters

140 North Columbus Street
Galion, OH 44833
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 1.05% →
1-Year CD 0.15% 0.95% →
2-Year CD 0.25% 1.05% →
5-Year CD 0.65% 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 Federal Bank of Ohio is an FDIC insured institution located in Galion, OH. It was founded in 1891 and has approximately $0.24 billion in assets. Customers can open an account at one of its 9 branches.

FDIC Insured Yes
FDIC Certificate # 27643
Date Established 1891
Assets $ 235.66 million
Loans $ 100.99 million
Deposits $ 187.61 million
Capital $ 37.03 million
 

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

Deposit Rates - September 23, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $5 - Learn More
Money Market
0.15% $2,500 - Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $2,500 - Learn More
6 Mo CD
0.10% $2,500 - Learn More
12 Mo CD
0.15% $100 - Learn More
18 Mo CD
0.20% $100 - Learn More
24 Mo CD
0.25% $5,000 - Learn More
30 Mo CD
0.27% $100 - Learn More
36 Mo CD
0.30% $5,000 - Learn More
48 Mo CD
0.50% $5,000 - Learn More
60 Mo CD
0.65% $500 - Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.10% $2,500 - Learn MoreShow Less

Loan Rates - September 23, 2020

Your Current Location: Connecticut, CT 06828

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

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




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.815% 2.750% 0.88 $2,128 $1,021 Learn More

Featured - Connecticut 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
2.990 %
$0 Learn More
More Info

Note to First Federal Bank of Ohio
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Branches

First Federal Bank of Ohio 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 Ohio Locations


Financial Details

First Federal Bank of Ohio Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Federal Bank of Ohio. 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 Ohio U.S. Bank Average
2.66% 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 Federal Bank of Ohio had $608,000 in non-current loans and $396,000 in owned real estate. To cover these potential losses it had $37,028,000 in equity and $696,000 in loans loss reserves. That gives it a Texas Ratio of 2.66%.

Return on Equity
First Federal Bank of Ohio U.S. Bank Average
3.31% 7.80%

First Federal Bank of Ohio has a Return on Equity of 3.31% 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 Federal Bank of Ohio U.S. Bank Average
15.71% 12.68%

First Federal Bank of Ohio has a Capitalization of 15.71% 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 Federal Bank of Ohio Balance Sheet Analysis

As of March 31, 2020, First Federal Bank of Ohio had assets of $235,660,000, loans of $100,992,000, and deposits of $187,610,000. 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 $ 35.23 million
Interest-bearing balances $ 29.49 million
Total securities $ 81.10 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 100.99 million
Loan loss allowance $ 0.70 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.40 million
Goodwill and other intangibles $ 0.48 million
All other assets $ 14.22 million
     Total Assets $ 198.63 million
LIABILITIES
Total deposits $ 187.61 million
      Interest-bearing deposits $ 154.80 million
      Deposits held in domestic offices $ 187.61 million
      % insured (estimated) 94.40%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 6.00 million
Subordinated debt N.A.
All other liabilities $ 5.02 million
      Total Liabilities $ 198.63 million
      Shareholders’ Equity $ 37.03 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.90 million
Total Interest Expense $ 0.33 million
Net interest income $ 1.56 million
Provision for loan and lease losses $ 0.04 million
Total non interest income $ 0.34 million
Total non interest expense $ 1.85 million
Pre-tax Net Operating Income $ 0.02 million

Bank Loan Profile?

The top three loan types in First Federal Bank of Ohio’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Multifamily Mortgages.

Compared to other banks, First Federal Bank of Ohio’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 69.18
Multifamily
Mortgages
5.35
Credit Card Loans 0.17
Consumer Auto Loans 2.25
Small Business Loans 0.00
Construction and Development Loans 4.29
Commercial Real Estate 14.05
Commercial and Industrial Loans 1.35
Farm Loans 0.00

Frequently Asked Questions About First Federal Bank Of Ohio

Branches and Savings

Is First Federal Bank Of Ohio FDIC insured?

Yes. It is covered under FDIC Certificate #27643.

Why does First Federal Bank Of Ohio 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 Ohio CD rates not competitive?

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

Is First Federal Bank Of Ohio a commercial bank?

Yes

Where are First Federal Bank Of Ohio locations?

See branch locations nearby.

Is First Federal Bank Of Ohio open on Saturdays?

Is First Federal Bank Of Ohio open on Sundays?

What time does First Federal Bank Of Ohio open?

What time does First Federal Bank Of Ohio close?

Are First Federal Bank Of Ohio ATMs Open 24/7?

Do First Federal Bank Of Ohio ATMs accept cash deposits?

Can First Federal Bank Of Ohio customers use other ATMs?

Do First Federal Bank Of Ohio branches have notaries?

Will First Federal Bank Of Ohio notarize my document?

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

Will the First Federal Bank Of Ohio branch print checks?

Do First Federal Bank Of Ohio checks expire?

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

Can First Federal Bank Of Ohio close my account?

Does First Federal Bank Of Ohio Report to credit bureaus?

Does First Federal Bank Of Ohio Use Equifax?

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

What is First Federal Bank Of Ohio's SWIFT code?

Products

Does First Federal Bank Of Ohio offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does First Federal Bank Of Ohio offer personal loans?

Compare personal loan rates here.

Does First Federal Bank Of Ohio offer student loans?

Will First Federal Bank Of Ohio cash a check?

Will First Federal Bank Of Ohio redeem a savings bond?

Does First Federal Bank Of Ohio cash savings bonds?

Will First Federal Bank Of Ohio cash money orders?

Can First Federal Bank Of Ohio issue a money order?

Does First Federal Bank Of Ohio do currency exchange?

Background on The Bank

Who owns First Federal Bank Of Ohio?

How long has First Federal Bank Of Ohio been around?

Can First Federal Bank Of Ohio transfer to other banks?

Does First Federal Bank Of Ohio have quick pay?

Does First Federal Bank Of Ohio accept rolled coins?

Will First Federal Bank Of Ohio accept loose change?

Where is First Federal Bank Of Ohio headquarters?

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