-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QF1GkdkfDSw62qUkRi59ehiG+52Jhg0okY+9flANbkg2pRGtMsCFOWUQy7x+BWn9 6jy3M3R5LxMPUB5T9TC7Vw== 0000810536-03-000052.txt : 20030724 0000810536-03-000052.hdr.sgml : 20030724 20030724114416 ACCESSION NUMBER: 0000810536-03-000052 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030630 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030724 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRSTFED FINANCIAL CORP CENTRAL INDEX KEY: 0000810536 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 954087449 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09566 FILM NUMBER: 03800053 BUSINESS ADDRESS: STREET 1: 401 WILSHIRE BOULEVARD CITY: SANTA MONICA STATE: CA ZIP: 90401-1490 BUSINESS PHONE: 3103196000 MAIL ADDRESS: STREET 1: 401 WILSHIRE BOULEVARD CITY: SANTA MONICA STATE: CA ZIP: 90401 8-K 1 mon0603.txt MROP JUNE 30, 2003 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) July 24, 2003 FirstFed Financial Corp. (Exact name of registrant as specified in its charter) Delaware 1-9566 95-4087449 - -------- ------ ---------- (State of Incorporation)(Commission File No.)(IRS Employer Identification No.) 401 Wilshire Boulevard, Santa Monica, California, 90401-1490 ------------------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (310) 319-6000 Total number of pages is 4 Index to Exhibit is on Page 3. ITEM 7. FINANCIAL STATEMENTS, PRO-FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits 99.0 Monthly Financial Data as of June 30, 2003 (Unconsolidated) ITEM 9. REGULATION FD DISCLOSURE. The Registrant hereby incorporates by reference into this Item 9 the summary monthly financial data as of June 30, 2003 attached as Exhibit 99.0, which is being furnished in accordance with Rule 101(e)(1) under Regulation FD and shall not be deemed to be filed. A discussion of the factors that could impact the Bank's loan portfolio in general, and the Registrant's overall business and financial performance, can be found in the Registrant's reports filed with the Securities and Exchange Commission. These factors include, among others, general economic and business conditions and changes therein, competition, consumer preferences and various other matters beyond the Registrant's control. Given these concerns, investors and analysts should not place undue reliance on the enclosed information. These reports speak only as of their stated date, and the Registrant undertakes no obligation to publicly update or revise the reports, although it may do so from time to time as management of the Registrant believes is warranted. S I G N A T U R E S Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. FIRSTFED FINANCIAL CORP. Dated: July 24, 2003 By:/s/ Douglas J. Goddard ---------------------- Douglas J. Goddard Chief Financial Officer 2 INDEX TO EXHIBITS Item Page 99.0 Monthly Financial Information as of June 30, 2003 4 3 First Federal Bank of California, fsb MONTHLY REPORT OF OPERATIONS Unconsolidated Financial Highlights Unaudited (Dollars in thousands) As of, for As of, for As of, for As of, for the As of, for the the month the month the month 6 months ended 6 months ended ended June 30, ended May 31, ended June 30, June 30, June 30, 2003 2003 2002 2003 2002 ---- ---- ---- ---- ---- Cash and investment securities $ 114,609 $ 159,020 $ 174,188 $ 114,609 $ 174,188 Total assets $ 4,461,127 $ 4,468,261 $ 4,408,121 $ 4,461,127 $ 4,408,121 LOANS: Total mortgage-backed securities $ 168,937 $ 175,009 $ 235,148 $ 168,937 $ 235,148 Total loans, net $ 4,040,668 $ 4,003,518 $ 3,856,323 $ 4,040,668 $ 3,856,323 Loans originated/purchased: Single family loans $ 135,027 $ 109,404 $ 52,361 $ 754,445 $ 298,426 Multi-family loans 26,872 62,229 27,089 248,664 237,821 Commercial real estate loans 970 - 6,200 15,281 37,247 Other 1,780 5,214 2,746 28,684 14,070 -------------- --------------- --------------- ---------------- --------------- $ 164,649 $ 176,847 $ 88,396 $ 1,047,074 $ 587,564 ============== =============== =============== ================ =============== Percentage of ARMs originated: 64% 61% 39% 65% 42% Loan repayments: Single family loans $ 91,400 $ 81,741 $ 57,090 $ 485,384 $ 516,575 Multi-family and commercial real estate loans 41,777 46,517 22,778 276,413 154,494 Other 3,348 3,149 12,798 27,637 65,126 -------------- --------------- --------------- ---------------- --------------- $ 136,525 $ 131,407 $ 92,666 $ 789,434 $ 736,195 ============== =============== =============== ================ =============== Loans sold $ 7,093 $ 4,058 $ 3,795 $ 62,133 $ 34,233 Average rate on loans originated/purchased 4.94% 4.90% 5.79% 5.04% 6.15% Percentage of portfolio in adjustable rate loans 72.87% 72.60% 69.47% 72.87% 69.47% Non-performing assets to total assets 0.09% 0.09% 0.11% 0.09% 0.11% BORROWINGS: Federal Home Loan Bank Advances $ 1,424,000 $ 1,419,000 $ 1,342,000 $ 1,424,000 $ 1,342,000 Reverse repurchase $ 139,725 $ 139,725 $ 176,131 $ 139,725 $ 176,131 agreements DEPOSITS: Retail deposits $ 2,410,034 $ 2,391,719 $ 2,164,087 $ 2,410,034 $ 2,164,087 Wholesale deposits 70,484 95,052 336,177 70,484 336,177 -------------- --------------- --------------- ---------------- --------------- $ 2,480,518 $ 2,486,771 $ 2,500,264 $ 2,480,518 $ 2,500,264 ============== =============== =============== ================ =============== Net increase (decrease) $ (6,253) $ 28,091 $ (9,042) $ (64,515) $ (52,743) AVERAGE INTEREST RATES: Yield on loans 5.54% 5.58% 6.04% 5.72% 6.29% Yield on investments 0.46% 1.92% 4.77% 2.70% 3.30% Yield on earning assets 5.39% 5.47% 6.00% 5.63% 6.15% Cost of deposits 1.55% 1.56% 2.44% 1.72% 2.64% Cost of borrowings 3.22% 3.24% 4.35% 3.38% 4.54% Cost of money 2.19% 2.21% 3.16% 2.33% 3.39% Earnings spread 3.20% 3.26% 2.84% 3.30% 2.76% Effective net spread 3.33% 3.40% 3.00% 3.45% 2.93%
-----END PRIVACY-ENHANCED MESSAGE-----