-----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, CRTEP6C3T0heMYCmYTOBBxAvu7zpT5POCQI+25OdAqbEY5PfhwcnRNFcc4i7eto7 BO1MXUJWBSl/Zj69z9oyag== 0000810536-04-000015.txt : 20040621 0000810536-04-000015.hdr.sgml : 20040621 20040621115830 ACCESSION NUMBER: 0000810536-04-000015 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040531 ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040621 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: 04872018 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 mrop0504.txt MONTHLY REPORT OF OPERATION MAY 31, 2004 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) June 21, 2004 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. 1 ITEM 7. FINANCIAL STATEMENTS, PRO-FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits 99.0 Monthly Financial Data as of May 31, 2004 (Unconsolidated) ITEM 9. REGULATION FD DISCLOSURE. The Registrant hereby incorporates by reference into this Item 9 the summary monthly financial data as of May 31, 2004 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: June 21, 2004 By:/s/ ____________________ Douglas J. Goddard Chief Financial Officer 2 INDEX TO EXHIBITS Item Page 99.0 Monthly Financial Information as of May 31, 2004 3 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 ended the month ended the month ended the month 5 months ended 5 months ended May 31, 2004 April 30,2004 May 31, 2003 May 31,2004 May 31,2003 Cash and investment securities $ 333,023 $ 281,657 $ 159,020 $ 333,023 $ 159,020 Total assets $ 5,387,868 $ 5,252,273 $ 4,468,261 $ 5,387,868 $ 4,468,261 LOANS: Total mortgage-backed securities $ 118,494 $ 121,788 $ 175,009 $ 118,494 $ 175,009 Total loans, net $ 4,781,744 $ 4,699,382 $ 4,003,518 $ 4,781,744 $ 4,003,518 Loans originated/purchased: Single family loans $ 167,819 $ 143,967 $ 109,404 $ 750,310 $ 619,418 Multi-family loans 20,767 38,441 62,229 184,775 221,792 Commercial real estate loans 1,050 850 - 9,666 14,311 Other 7,213 13,128 5,214 42,022 26,903 -------------- --------------- --------------- ---------------- --------------- $ 196,849 $ 196,386 $ 176,847 $ 986,773 $ 882,424 ============== =============== =============== ================ =============== Percentage of ARMs originated: 100% 99% 61% 98% 66% Loan repayments: Single family loans $ 84,657 $ 93,646 $ 81,741 $ 376,935 $ 393,984 Multi-family and commercial real estate loans 26,733 41,533 46,517 183,213 234,636 Other 4,641 2,319 3,149 24,378 24,289 -------------- --------------- --------------- ---------------- --------------- $ 116,031 $ 137,498 $ 131,407 $ 584,526 $ 652,909 ============== =============== =============== ================ =============== Loans sold $ 575 $ - $ 4,058 $ 2,193 $ 55,040 Average rate on loans originated/purchased 4.37% 4.38% 4.90% 4.47% 5.06% Percentage of portfolio in adjustable rate loans 83.03% 82.36% 72.60% 83.03% 72.60% Non-performing assets to total assets 0.04% 0.05% 0.09% 0.04% 0.09% BORROWINGS: Federal Home Loan Bank Advances $ 2,074,000 $ 1,949,000 $ 1,419,000 $ 2,074,000 $ 1,419,000 Reverse repurchase $ 115,224 $ 115,224 $ 139,725 $ 115,224 $ 139,725 agreements DEPOSITS: Retail deposits $ 2,545,493 $ 2,538,422 $ 2,391,719 $ 2,545,493 $ 2,391,719 Wholesale deposits 204,710 191,748 95,052 204,710 95,052 -------------- --------------- --------------- ---------------- --------------- $ 2,750,203 $ 2,730,170 $ 2,486,771 $ 2,750,203 $ 2,486,771 ============== =============== =============== ================ =============== Net increase (decrease) $ 20,033 $ (2,810) $ 28,091 $ 192,777 $ (58,262) AVERAGE INTEREST RATES: Yield on loans 4.69% 4.71% 5.58% 4.77% 5.76% Yield on investments 2.82% 2.51% 1.92% 2.65% 3.21% Yield on earning assets 4.60% 4.61% 5.47% 4.67% 5.68% Cost of deposits 1.27% 1.26% 1.56% 1.28% 1.74% Cost of borrowings 2.41% 2.43% 3.24% 2.53% 3.41% Cost of money 1.77% 1.75% 2.21% 1.81% 2.35% Earnings spread 2.83% 2.86% 3.26% 2.86% 3.33% Effective net spread 2.93% 2.96% 3.40% 2.96% 3.47%
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