First Federal Savings and Loan Association of Port Angeles in Port Angeles, Washington (WA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • First Federal Savings and Loan Association of Port Angeles in Port Angeles, Washington (WA)
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First Federal Savings and Loan Association of Port Angeles - Overview

  • General
  • FDIC Certificate #: 28405
    Status: Active
    Federal Reserve ID: 403179
    Date Established: January 01, 1923
    WWW: http://www.ourfirstfed.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 1528
    FDIC's unique #: 41239
    Numeric code: 42
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: March 01, 1935
    Last Structure Change Effective Date: November 30, 2011
    Last Structure Change Process Date: January 18, 2012
    Last Data Update: January 18, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 105 W. 8th Street, Port Angeles, WA 98362
    County: Clallam
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Seattle
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Port Angeles, WA (#38820)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Change in Primary Regulatory Agency
    Change in Supervisory Agency
    Change in Chartering Agent
  • Financial Summary
  • Total assets: $764.3 mil
    Equity capital: $77.1 mil
    Deposits held in domestic offices: $581.6 mil
    Return on assets (ROA): 0.15% ($1.1 mil)
    Quarterly return on assets: -0.02% (-$0.2 mil)
    Return on Equity (ROE): 1.43% ($1.1 mil)
    Quarterly return on equity: -0.18% (-$0.1 mil)
    Net income: $1.1 mil
    Quarterly Net income: -$0.0 mil
    Pretax return on assets: 0.14% ($1,070.0 mil)
    Quarterly Pretax return on assets: -0.13% (-$993.6 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 153Total employees (full-time equivalent)
  • $764,287Total assets
  • $30,665Cash and due from depository institutions
  • $18,747Interest-bearing balances
  • $264,486Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $416,521Net loans & leases
  • $4,936Loan loss allowance
  • $0Trading account assets
  • $12,725Bank premises and fixed assets
  • $4,447Other real estate owned
  • $2,237Goodwill and other intangibles
  • $764,287Life insurance assets
  • $33,206All other assets
  • $687,186Total liabilities and capital
  • $581,568Total liabilities
  • $535,552Total deposits
  • $581,568Interest-bearing deposits
  • $93Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $100,033Trading liabilities
  • $0Other borrowed funds
  • $5,585Subordinated debt
  • $77,101All other liabilities
  • $77,101Total equity capital
  • $77,101Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $77,101Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,505Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $8,960Income earned, not collected on loans
  • $0Earning assets
  • $2,501Long-term assets (5+ years)
  • $699,754Average Assets, year-to-date
  • $316,083Average Assets, quarterly
  • $753,557Volatile liabilities
  • $761,033Insider loans
  • $379,459FHLB advances
  • $758,591Loans and leases held for sale
  • $17,210Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $76,366Tier 2 risk-based capital
  • $17,210Total risk weighted assets
  • $0Total unused commitments
  • $44,621Restructured Loans and leases
  • $6,180Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $28,058Total interest income
  • $7,656Total interest expense
  • $20,402Net interest income
  • $3,207Provision for loan and lease losses
  • $3,092Total noninterest income
  • $0Fiduciary activities
  • $1,612Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,480Additional noninterest income
  • $19,191Total noninterest expense
  • $9,273Salaries and employee benefits
  • $2,386Premises and equipment expense
  • $7,532Additional noninterest expense
  • $1,096Pre-tax net operating income
  • -$19Securities gains (losses)
  • -$17Applicable income taxes
  • $1,094Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,094Net income attributable to bank
  • $0Net charge-offs
  • $1,094Cash dividends
  • $1,773Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.05%Yield on earning assets
  • 1.11%Cost of funding earning assets
  • 2.94%Net interest margin
  • 0.45%Noninterest income to earning assets
  • 2.77%Noninterest expense to earning assets
  • 0.15%Net operating income to assets
  • 0.15%Return on assets (ROA)
  • 0.14%Pretax return on assets
  • 1.43%Return on equity (ROE)
  • 1.43%Retained earnings to average equity (YTD only)
  • 0.41%Net charge-offs to loans
  • 180.88%Credit loss provision to net charge-offs
  • 2.43%Efficiency ratio
  • 81,663Assets per employee
  • 5.00%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.17%Loss allowance to noncurrent loans
  • 55.09%Noncurrent assets plus other real estate owned to assets
  • 1.75%Noncurrent loans to loans
  • 2.13%Net loans and leases to deposits
  • 71.62%Net loans and leases to core deposits
  • 75.75%Equity capital to assets
  • 10.09%Core capital (leverage) ratio
  • 10.07%Tier 1 risk-based capital ratio
  • 20.12%Total risk-based capital ratio
  • Memoranda
  • $21Average assets
  • $753,557Average earning assets
  • $76,559Average equity
  • $692,771Average loans

List of branches

  • 8 Washington Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    041239First Federal Savings And Loan Assoc105 W. 8th Street, Port Angeles, WA 98362January 01, 1923Full Service Brick and Mortar
    1267229Sequim Avenue Branch333 North Sequim Avenue, Sequim, WA 98382January 01, 1923Full Service Brick and Mortar
    2267230Eastside Branch1603 East First Street, Port Angeles, WA 98362January 01, 1923Full Service Brick and Mortar
    100267231Sixth Street Branch227 East 6th Street, Port Angeles, WA 98362January 01, 1923Full Service Brick and Mortar
    101267232Sequim Village Branch645 West Washington Street, Sequim, WA 98382January 01, 1923Full Service Brick and Mortar
    102267233Forks Branch215 Calawah Way, Forks, WA 98331January 01, 1923Full Service Brick and Mortar
    103267234Downtown Branch141 West First Street, Port Angeles, WA 98362December 31, 1988Full Service Brick and Mortar
    104267235Port Townsend Branch1321 Sims Way, Port Townsend, WA 98368November 30, 1989Full Service Brick and Mortar

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