-----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, Pv2Mud68x1n1e+YFfVvytbbcLHHxr5kgxIuvy0As58uZRQKcXz9e3F3B1oM8HxMa qtlEOQa12mPO3Oi7KRVhmA== 0000810536-05-000001.txt : 20050127 0000810536-05-000001.hdr.sgml : 20050127 20050127134738 ACCESSION NUMBER: 0000810536-05-000001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20041231 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050127 DATE AS OF CHANGE: 20050127 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: 05553158 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 mrop1204.txt MONTHLY REPORT OF OPERATIONS 12.31.04 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) January 27, 2005 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 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a 12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act 917 CFR 240.13e-4(c)) Total number of pages is 4 Index to Exhibit is on Page 3. ITEM 7.01. REGULATION FD DISCLOSURE. The Registrant hereby incorporates by reference into this Item. 7 the summary monthly financial data as of December 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. ITEM 9.01. FINANCIAL STATEMENTS, PRO-FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits 99.0 Monthly Financial Data as of December 31, 2004 (Unconsolidated) 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: January 27, 2005 By:/s/ Douglas J. Goddard ---------------------- Douglas J. Goddard Chief Financial Officer 2 INDEX TO EXHIBITS Item Page 99.0 Monthly Financial Information as of December 31, 2004 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, As of, for As of, for the month the month for the the 12 the 12 ended ended month ended months ended months ended December 31, November 30, December 31, December 31, December 31, 2004 2004 2003 2004 2003 ---- ---- ---- ---- ---- Cash and investment $ 318,929 $ 295,728 $ 170,729 $ 318,929 $ 170,729 securities Total assets $ 7,468,983 7,079,368 $ 4,819,457 $ 7,468,983 $ 4,819,457 LOANS: Total mortgage-backed $ 97,059 100,334 $ 135,176 $ 97,059 $ 135,176 securities Total loans, net $ 6,837,945 6,480,428 $ 4,374,112 $ 6,837,945 $ 4,374,112 Loans originated/purchased: Single family loans $ 452,955 363,885 $ 184,279 $ 3,095,010 $ 1,712,584 Multi-family loans 37,184 94,235 31,922 647,326 470,426 Commercial real estate loans 14,228 9,750 1,050 66,010 35,237 Other 1,146 6,540 8,955 72,463 57,283 ------------ ------------ ----------- ------------- ------------- $ 505,513 $ 474,410 $ 226,206 $ 3,880,809 $ 2,275,530 ============ ============ =========== ============= ============= Percentage of ARMs 100% 100% 96% 99% 77% originated: Loan repayments: Single family loans $ 104,414 69,037 $ 60,653 $ 947,747 $ 948,505 Multi-family and commercial real estate loans 43,452 32,847 41,948 459,201 682,457 Other 3,751 2,117 4,113 42,896 54,163 ------------ ------------ ----------- ------------- ------------- $ 151,617 $ 104,001 $ 106,714 $ 1,449,844 $ 1,685,125 ============ ============ =========== ============= ============= Loans sold $ -- $ -- $ 1,059 $ -- $ 86,070 Average rate on loans originated/purchased 4.69% 4.62% 4.66% 4.51% 4.87% Percentage of portfolio in adjustable rate loans 91.44% 90.74% 79.03% 91.44% 79.03% Non-performing assets to total assets 0.07% 0.02% 0.10% 0.07% 0.10% BORROWINGS: Federal Home Loan Bank Advances $ 3,004,600 $ 2,735,600 $ 1,694,000 $ 3,004,000 $ 1,694,000 Reverse repurchase agreements $ 187,000 $ 192,000 $ 122,622 $ 187,000 $ 122,622 DEPOSITS: Retail deposits $ 2,505,568 $ 2,540,976 $ 2,505,892 $ 2,505,568 $ 2,505,892 Wholesale deposits 1,279,327 1,109,000 51,534 1,279,327 51,534 ------------ ------------ ----------- ------------- ------------- $ 3,784,895 $ 3,649,976 $ 2,557,426 $ 3,784,895 $ 2,557,426 ============ ============ =========== ============= ============= Net increase (decrease) $ 134,919 $ 211,367 $ (7,242) $ 1,227,469 $ 12,393 AVERAGE INTEREST RATES: Yield on loans 4.58% 4.62% 5.01% 4.68% 5.49% Yield on investments 3.45% 3.12% 2.19% 2.79% 2.20% Yield on earning assets 4.54% 4.55% 4.96% 4.59% 5.40% Cost of deposits 1.73% 1.62% 1.31% 1.42% 1.55% Cost of borrowings 2.56% 2.51% 2.88% 2.53% 3.21% Cost of money 2.09% 2.01% 1.93% 1.91% 2.18% Earnings spread 2.45% 2.54% 3.03% 2.68% 3.22% Effective net spread 2.52% 2.62% 3.15% 2.78% 3.35%
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