FirstAtlantic Bank


1325 Hendricks Avenue
Jacksonville, FL 32207
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Notable Rates APY Vs.Others
Savings N.A. 1.05% →
1-Year CD N.A. 0.95% →
2-Year CD N.A. 1.05% →
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

FirstAtlantic Bank is an FDIC insured institution located in Jacksonville, FL. It was founded in 1999 and has approximately $0.44 billion in assets.

FDIC Insured Yes
FDIC Certificate # 35200
Date Established 1999
Assets $ 461.75 million
Loans $ 308.02 million
Deposits $ 376.99 million
Capital $ 57.42 million

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

Deposit Rates - September 19, 2020

Your Current Location: Connecticut, CT 06828

Loan Rates - September 19, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for FirstAtlantic Bank

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
Learn More
NMLS ID: 2890
License#: 13256
2.815% 2.750% 0.88 $2,118 $1,021 Learn More
Rocket Mortgage
NMLS ID: 3030
3.872% 3.750% 1.00 $3,750 $1,158 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 Learn More
More Info

Note to FirstAtlantic Bank
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Financial Details

FirstAtlantic Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of FirstAtlantic 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
FirstAtlantic Bank U.S. Bank Average
1.36% 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, FirstAtlantic Bank had $452,000 in non-current loans and $365,000 in owned real estate. To cover these potential losses it had $57,424,000 in equity and $2,614,000 in loans loss reserves. That gives it a Texas Ratio of 1.36%.

Return on Equity
FirstAtlantic Bank U.S. Bank Average
6.85% 7.80%

FirstAtlantic Bank has a Return on Equity of 6.85% 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.

FirstAtlantic Bank U.S. Bank Average
12.44% 12.68%

FirstAtlantic Bank has a Capitalization of 12.44% 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.

FirstAtlantic Bank Balance Sheet Analysis

As of December 31, 2017, FirstAtlantic Bank had assets of $436,062,000, loans of $308,022,000, and deposits of $376,985,000. 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
Cash & Balances due from depository institutions $ 16.17 million
Interest-bearing balances $ 14.13 million
Total securities $ 81.56 million
Federal funds sold and reverse repurchase $ 0.10 million
Net loans and leases $ 308.02 million
Loan loss allowance $ 2.61 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.37 million
Goodwill and other intangibles $ 2.19 million
All other assets $ 13.74 million
     Total Assets $ 378.41 million
Total deposits $ 376.99 million
      Interest-bearing deposits $ 262.99 million
      Deposits held in domestic offices $ 376.99 million
      % insured (estimated) 60.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.42 million
      Total Liabilities $ 378.41 million
      Shareholders’ Equity $ 83.34 million

Summary Income Statement

March 31, 2020
Total Interest Income $ 19.27 million
Total Interest Expense $ 1.99 million
Net interest income $ 17.28 million
Provision for loan and lease losses $ 0.14 million
Total non interest income $ 1.45 million
Total non interest expense $ 12.82 million
Pre-tax Net Operating Income $ 5.77 million

Bank Loan Profile?

The top three loan types in FirstAtlantic Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Florida, FirstAtlantic Bank has a significantly higher percent of Small Business 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 28.02
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 25.39
Construction and Development Loans 6.81
Commercial Real Estate 54.72
Commercial and Industrial Loans 7.57
Farm Loans 0.00

Frequently Asked Questions About Firstatlantic Bank

Branches and Savings

Is Firstatlantic Bank FDIC insured?

Yes. It is covered under FDIC Certificate #35200.

Why does Firstatlantic Bank pay such low interest on savings accounts?

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

Why are Firstatlantic Bank CD rates not competitive?

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

Is Firstatlantic Bank a commercial bank?


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Does Firstatlantic Bank offer mortgages?

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Does Firstatlantic Bank offer home equity lines of credit and home equity loans?

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Does Firstatlantic Bank offer personal loans?

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Background on The Bank

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