First Fed Bank
Port Angeles, Washington · FDIC Cert #28405
First Fed Bank is an FDIC-insured bank (Certificate #28405) with $2.2B in total assets and $1.7B in total deposits as of the Q2 2024 Call Report. Headquartered in Port Angeles, Washington, the bank maintains a Tier 1 capital ratio of 12.40% (Well-Capitalized) and a nonperforming loan ratio of 1.90%. BankHealthData assigns a composite Health Grade of C (61/100). All deposits up to $250,000 per depositor per ownership category are FDIC insured.
First Fed Bank (FDIC cert 28405) is a mid-sized bank with $2.2B in total assets and $1.7B in deposits, based in Port Angeles, Washington. Mid-sized banks typically operate regionally with a mix of commercial and consumer lending.
Capital position is strong: Tier 1 capital ratio of 12.40% sits comfortably above the 8% well-capitalized regulatory threshold and the 10% well-capitalized-plus floor for community banks. Strong capital is the first line of defense against unexpected loan losses. Asset quality is normal: non-performing loan ratio of 1.90% sits in the typical 0.5-2% range for healthy U.S. banks. Some NPL is unavoidable in any meaningful lending portfolio. Liquidity is in the normal range: 17.7% liquid assets relative to total assets — adequate for standard operating needs and routine deposit outflows.
Profitability is negative: ROA of -0.08% means the bank lost money during the reporting period. Sustained negative ROA erodes capital and triggers escalating regulatory attention. Health-score trend is declining materially over the most recent quarters. Declining trends warrant attention — banks in this pattern often face follow-on regulatory engagement and elevated supervisory scrutiny. First Fed Bank carries a composite BankHealth grade of C (61/100) as of the 2024-06 Call Report filing. The grade combines capital ratios (Tier 1), asset quality (non-performing loans), liquidity, and profitability into a single signal.
Source: FDIC BankFind API — Call Report data.
Key Facts: First Fed Bank
- Total Assets
- $2.2B
- Total Deposits
- $1.7B
- Tier 1 Capital Ratio
- 12.40%
- Capital Status
- Well-Capitalized
- Nonperforming Loans
- 1.90%
- Liquidity Ratio
- 17.71%
- Return on Assets
- -0.08%
- Headquarters
- Port Angeles, Washington
- FDIC Certificate
- #28405
- Health Grade
- C (61/100)
- Latest Call Report
- Q2 2024
Capital & Safety Analysis
According to FDIC financial data, First Fed Bank holds a Tier 1 capital ratio of 12.40%. This exceeds the 8% threshold regulators consider "well-capitalized," meaning First Fed Bank has a strong buffer to absorb potential losses.
Key Financial Metrics
What This Means For Your Money
First Fed Bank shows average financial health. While not alarming, its Health Score of 61/100 suggests some areas could be stronger. Your FDIC-insured deposits (up to $250,000) remain fully protected regardless.
Remember: FDIC insurance covers up to $250,000 per depositor, per bank, per ownership category. Even if a bank fails, insured depositors typically have access to their funds within two business days.
How First Fed Bank Compares
First Fed Bank’s Health Score of 61 is 9 points below the Washington state average of 70 across 30 FDIC-insured banks. Its 12.40% Tier 1 capital ratio is 1.6 points below the US banking industry average near 14%. The 1.90% nonperforming loan ratio is higher than the industry norm (~0.8%), indicating more credit stress than peers. Return on assets of -0.08% is below the national ROA benchmark of ~1.1%. Among 573 similarly-sized banks, the average Health Score is 72, meaning this bank ranks below its size cohort. Site-wide, First Fed Bank is 9 points below the portfolio average of 70.
Frequently Asked Questions
First Fed Bank has a Bank Health Score of C (61/100), placing it in average financial health. It holds a Tier 1 capital ratio of 12.40%, which is above the 8% "well-capitalized" threshold. All deposits up to $250,000 per depositor are FDIC insured regardless of the bank's health.
Bank failures are uncommon — only ~5 of 4,000+ FDIC-insured banks fail in a typical year. First Fed Bank's Tier 1 capital ratio of 12.40% and nonperforming loan ratio of 1.90% indicate an average risk profile relative to the industry. Even in a failure scenario, insured deposits ($250K per depositor per ownership category) are typically available within two business days.
Money in checking, savings, money market, and CD accounts at First Fed Bank is FDIC-insured up to $250,000 per depositor per ownership category (FDIC Cert #28405). Joint accounts get $250K per co-owner. Funds above the limit are not insured — for higher balances, consider spreading across multiple banks or using a CDARS-like network.
First Fed Bank holds $2.2B in total assets and $1.7B in total deposits. It is headquartered in Port Angeles, Washington (FDIC Certificate #28405).
First Fed Bank has a Tier 1 capital ratio of 12.40%, classifying it as "Well-Capitalized." Federal regulators consider 8% the threshold for "well-capitalized." The bank's nonperforming loan ratio is 1.90%, and the return on assets is -0.08%.
Yes. First Fed Bank is FDIC-insured (Certificate #28405). The FDIC insures deposits up to $250,000 per depositor, per bank, per ownership category — covering checking, savings, money market deposit accounts, and CDs. Even if a bank fails, insured depositors typically regain access to funds within two business days.
An C grade on our Bank Health Score means 55-69/100 — average across capital, loan quality, and profitability. The grade combines Tier 1 capital ratio (35% weight), nonperforming loan ratio (30%), liquidity ratio (25%), and return on assets (10%).
First Fed Bank's metrics are around average for the industry. There's no urgent action needed for FDIC-insured deposits, but it's worth monitoring quarterly updates. The FDIC's $250K-per-depositor insurance applies regardless of the bank's health.