First Florida Bank

2000 Ninety-Eight Palms Blvd.
Destin, FL 32541


2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 58370
Date Established 2006
Assets $0.43 billion
Loans $0.23 billion
Deposits $0.36 billion
Capital $0.05 billion

First Florida Bank is an FDIC insured institution located in Destin, FL. It was founded in 2006 and has approximately $0.43 billion in assets. Customers can open an account at one of its 6 branches.

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

Deposit Rates - August 24, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.40% $2,500 $24,999 Learn MoreShow Less
Money Market
0.50% $25,000 $99,999 Learn MoreShow Less
Special: 12 Mo CD
1.75% $1,000 - Learn MoreShow Less
12 Mo CD
0.40% $1,000 - Learn MoreShow Less
Special: 15 Mo CD
2.00% $1,000 - Learn MoreShow Less
18 Mo CD
1.00% $1,000 - Learn MoreShow Less
24 Mo CD
1.00% $1,000 - Learn MoreShow Less

Fixed IRA
0.40% $1,000 - Learn MoreShow Less
Special: 12 Mo FIRA
1.75% $1,000 - Learn MoreShow Less
Special: 15 Mo FIRA
2.00% $1,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
1.00% $1,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.10% $1,000 - Learn MoreShow Less

Loan Rates - August 24, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for First Florida Bank

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 2019

Lender APR Rate (%) Points Fees Monthly
Learn More
NMLS ID: 2890
License#: MC-3098
3.529% 3.500% 0.38 $898 $1,123 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
4.240 %
$0 Learn More
More Info

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

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First Florida Bank Locations

Financial Details

First Florida Bank Ratio Analysis

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

Texas Ratio
First Florida Bank U.S. Bank Average
1.02% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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, 2019, First Florida Bank had $552,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $50,769,000 in equity and $3,450,000 in loans loss reserves. That gives it a Texas Ratio of 1.02%.

Return on Equity
First Florida Bank U.S. Bank Average
10.86% 9.47%

First Florida Bank has a Return on Equity of 10.86% versus the BestCashCow average of 9.47%. 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.

First Florida Bank U.S. Bank Average
11.93% 12.49%

First Florida Bank has a Capitalization of 11.93% versus the BestCashCow average of 12.49. 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 Florida Bank Balance Sheet Analysis

As of March 31, 2019, First Florida Bank had assets of $425,569,000, loans of $234,449,000, and deposits of $363,764,000. 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, 2019
Cash & Balances due from depository institutions $0.06 billion
Interest-bearing balances $0.05 billion
Total securities $0.12 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.23 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.01 billion
     Total Assets $0.37 billion
Total deposits $0.36 billion
      Interest-bearing deposits $0.27 billion
      Deposits held in domestic offices $0.36 billion
      % insured (estimated) 70.87%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.01 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.37 billion
      Shareholders’ Equity $0.05 billion

Summary Income Statement

March 31, 2019
Total Interest Income $0.00 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

The top three loan types in First Florida Bank’s loan portfolio are 1-4 Family Residential Loans, Construction and Development Loans, and Commercial Real Estate.

Compared to other banks in Florida, First Florida Bank has a significantly higher percent of Construction and Development 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 41.15
Credit Card Loans 0.35
Consumer Auto Loans 0.22
Small Business Loans 0.00
Construction and Development Loans 27.02
Commercial Real Estate 26.91
Commercial and Industrial Loans 4.65
Farm Loans 0.00

Frequently Asked Questions About First Florida Bank

Branches and Savings

Is First Florida Bank FDIC insured?

Yes. It is covered under FDIC Certificate #58370.

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

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

Why are First Florida Bank CD rates not competitive?

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

Is First Florida Bank a commercial bank?


Where are First Florida Bank locations?

See branch locations nearby.

Is First Florida Bank open on Saturdays?

Is First Florida Bank open on Sundays?

What time does First Florida Bank open?

What time does First Florida Bank close?

Are First Florida Bank ATMs Open 24/7?

Do First Florida Bank ATMs accept cash deposits?

Can First Florida Bank customers use other ATMs?

Do First Florida Bank branches have notaries?

Will First Florida Bank notarize my document?

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

Will the First Florida Bank branch print checks?

Do First Florida Bank checks expire?

Does First Florida Bank require US citizenship to open account?

Can First Florida Bank close my account?

Does First Florida Bank Report to credit bureaus?

Does First Florida Bank Use Equifax?

What is First Florida Bank's ACH Routing Number?

What is First Florida Bank's SWIFT code?


Does First Florida Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does First Florida Bank offer personal loans?

Compare personal loan rates here.

Does First Florida Bank offer student loans?

Will First Florida Bank cash a check?

Will First Florida Bank redeem a savings bond?

Does First Florida Bank cash savings bonds?

Will First Florida Bank cash money orders?

Can First Florida Bank issue a money order?

Does First Florida Bank do currency exchange?

Background on The Bank

Who owns First Florida Bank?

How long has First Florida Bank been around?

Can First Florida Bank transfer to other banks?

Does First Florida Bank have quick pay?

Does First Florida Bank accept rolled coins?

Will First Florida Bank accept loose change?

Where is First Florida Bank headquarters?

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