First Federal Savings and Loan Association of Independence

Headquarters

112 E Myrtle Street
Independence, KS 67301
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 Federal Savings and Loan Association of Independence is an FDIC insured institution located in Independence, KS. It was founded in 1905 and has approximately $0.13 billion in assets.

FDIC Insured Yes
FDIC Certificate # 27852
Date Established 1905
Assets $ 137.61 million
Loans $ 88.03 million
Deposits $ 93.79 million
Capital $ 13.88 million
 

For a more detailed analysis of First Federal Savings and Loan Association of Independence'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 Federal Savings and Loan Association of Independence

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
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.669% 2.625% 0.63 $1,450 $1,005 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 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 Federal Savings and Loan Association of Independence
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

First Federal Savings and Loan Association of Independence 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 Federal Savings and Loan Association of Independence Locations


Financial Details

First Federal Savings and Loan Association of Independence Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First Federal Savings and Loan Association of Independence. 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 Savings and Loan Association of Independence U.S. Bank Average
12.27% 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 Savings and Loan Association of Independence had $1,509,000 in non-current loans and $408,000 in owned real estate. To cover these potential losses it had $13,880,000 in equity and $1,747,000 in loans loss reserves. That gives it a Texas Ratio of 12.27%.

Return on Equity
First Federal Savings and Loan Association of Independence U.S. Bank Average
5.6% 7.80%

First Federal Savings and Loan Association of Independence has a Return on Equity of 5.6% 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 Savings and Loan Association of Independence U.S. Bank Average
10.09% 12.68%

First Federal Savings and Loan Association of Independence has a Capitalization of 10.09% 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 Savings and Loan Association of Independence Balance Sheet Analysis

As of March 31, 2015, First Federal Savings and Loan Association of Independence had assets of $131,677,000, loans of $88,025,000, and deposits of $93,790,000. 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 $ 88.03 million
Loan loss allowance $ 1.75 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.41 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 93.79 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 $ 137.61 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 Federal Savings and Loan Association of Independence’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks in Kansas, First Federal Savings and Loan Association of Independence has a significantly higher percent of 1-4 Family Residential 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 86.95
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 2.68
Small Business Loans 2.27
Construction and Development Loans 3.08
Commercial Real Estate 5.10
Commercial and Industrial Loans 0.50
Farm Loans 0.00

Frequently Asked Questions About First Federal Savings And Loan Association Of Independence

Branches and Savings

Is First Federal Savings And Loan Association Of Independence FDIC insured?

Yes. It is covered under FDIC Certificate #27852.

Why does First Federal Savings And Loan Association Of Independence 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 Savings And Loan Association Of Independence CD rates not competitive?

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

Is First Federal Savings And Loan Association Of Independence a commercial bank?

Yes

Where are First Federal Savings And Loan Association Of Independence locations?

See branch locations nearby.

Is First Federal Savings And Loan Association Of Independence open on Saturdays?

Is First Federal Savings And Loan Association Of Independence open on Sundays?

What time does First Federal Savings And Loan Association Of Independence open?

What time does First Federal Savings And Loan Association Of Independence close?

Are First Federal Savings And Loan Association Of Independence ATMs Open 24/7?

Do First Federal Savings And Loan Association Of Independence ATMs accept cash deposits?

Can First Federal Savings And Loan Association Of Independence customers use other ATMs?

Do First Federal Savings And Loan Association Of Independence branches have notaries?

Will First Federal Savings And Loan Association Of Independence notarize my document?

What address for First Federal Savings And Loan Association Of Independence should I put for incoming ACH transfers?

Will the First Federal Savings And Loan Association Of Independence branch print checks?

Do First Federal Savings And Loan Association Of Independence checks expire?

Does First Federal Savings And Loan Association Of Independence require US citizenship to open account?

Can First Federal Savings And Loan Association Of Independence close my account?

Does First Federal Savings And Loan Association Of Independence Report to credit bureaus?

Does First Federal Savings And Loan Association Of Independence Use Equifax?

What is First Federal Savings And Loan Association Of Independence's ACH Routing Number?

What is First Federal Savings And Loan Association Of Independence's SWIFT code?

Products

Does First Federal Savings And Loan Association Of Independence offer mortgages?

Compare mortgage rates here.

Does First Federal Savings And Loan Association Of Independence offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First Federal Savings And Loan Association Of Independence offer personal loans?

Compare personal loan rates here.

Does First Federal Savings And Loan Association Of Independence offer student loans?

Will First Federal Savings And Loan Association Of Independence cash a check?

Will First Federal Savings And Loan Association Of Independence redeem a savings bond?

Does First Federal Savings And Loan Association Of Independence cash savings bonds?

Will First Federal Savings And Loan Association Of Independence cash money orders?

Can First Federal Savings And Loan Association Of Independence issue a money order?

Does First Federal Savings And Loan Association Of Independence do currency exchange?

Background on The Bank

Who owns First Federal Savings And Loan Association Of Independence?

How long has First Federal Savings And Loan Association Of Independence been around?

Can First Federal Savings And Loan Association Of Independence transfer to other banks?

Does First Federal Savings And Loan Association Of Independence have quick pay?

Does First Federal Savings And Loan Association Of Independence accept rolled coins?

Will First Federal Savings And Loan Association Of Independence accept loose change?

Where is First Federal Savings And Loan Association Of Independence headquarters?

Customer Reviews for First Federal Savings and Loan Association of Independence

There are currently no comments for First Federal Savings and Loan Association of Independence. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →