-----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, LLZPHrDUWrUWXw/AQVxe2sy9DP7Ot36CUgsRSVvRKcQET+mTtpk+C9YfDAUSB0eE T2yHtBokNi2BY1JMpuRVEg== 0000810536-05-000008.txt : 20050421 0000810536-05-000008.hdr.sgml : 20050421 20050420192158 ACCESSION NUMBER: 0000810536-05-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050331 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050421 DATE AS OF CHANGE: 20050420 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: 05762969 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 mrop0305.txt MROP MARCH 31, 2005 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) April 20, 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 March 31, 2005 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 March 31, 2005 (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: April 20, 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 March 31, 2005 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 As of, for the month the month the month the 3 months the 3 months ended ended ended ended ended Mar. 31, Feb. 28, Mar. 31, Mar. 31, Mar. 31, 2005 2005 2004 2005 2004 ---- ---- ---- ---- ---- Cash and investment securities $ 268,704 $ 272,780 $ 255,021 $ 268,704 $ 255,021 Total assets $ 8,420,703 $ 8,110,117 $ 5,173,058 $ 8,420,703 $ 5,173,058 LOANS: Total mortgage-backed securities $ 90,597 $ 92,920 $ 124,217 $ 90,597 $ 124,217 Total loans, net $ 7,824,493 $ 7,508,327 $ 4,640,055 $ 7,824,493 $ 4,640,055 Loans originated/purchased: Single family loans $ 435,084 $ 349,993 $ 154,418 $ 1,153,401 $ 438,524 Multi-family loans 35,526 64,285 65,877 135,764 125,567 Commercial real estate loans 6,875 682 3,745 18,304 7,766 Other 3,795 2,995 9,657 9,436 21,681 ------------ ----------- ----------- ----------- ------------ $ 481,280 $ 417,955 $ 233,697 $ 1,316,905 $ 593,538 ============ =========== =========== =========== ============ Percentage of ARMs 100% 100% 97% 100% 97% originated: Loan repayments: Single family loans $ 101,024 $ 75,107 $ 80,318 $ 234,104 $ 198,632 Multi-family and commercial real estate loans 62,467 4,675 36,143 83,529 114,947 Other 4,178 2,036 8,292 21,511 17,418 ------------ ----------- ----------- ----------- ------------ $ 167,669 $ 81,818 $ 124,753 $ 339,144 $ 330,997 ============ =========== =========== =========== ============ Loans sold $ -- $ -- $ 632 $ -- $ 1,618 Average rate on loans originated/purchased 5.40% 5.18% 4.39% 5.24% 4.53% Percentage of portfolio in adjustable rate loans 93.73% 93.44% 81.08% 93.73% 81.08% Non-performing assets to total assets 0.08% 0.06% 0.06% 0.08% 0.06% BORROWINGS: Federal Home Loan Bank Advances $ 2,998,813 $ 3,100,013 $ 1,852,000 $ 2,998,813 $ 1,852,000 Reverse repuchase agreements $ 1,059,700 $ 639,596 $ 117,122 $ 1,059,700 $ 117,122 DEPOSITS: Retail deposits $ 2,496,922 $ 2,511,561 $ 2,540,048 $ 2,496,922 $ 2,540,048 Wholesale deposits 1,311,140 1,333,945 192,932 1,311,140 192,932 ------------ ----------- ----------- ----------- ------------ $ 3,808,062 $ 3,845,506 $ 2,732,980 $ 3,808,062 $ 2,732,980 ============ =========== =========== =========== ============ Net increase (decrease) $ (37,444) $ (1,264) $ 41,168 $ 23,167 $ 175,554 AVERAGE INTEREST RATES: Yield on loans 4.74% 4.75% 4.82% 4.71% 4.90% Yield on investments 4.08% 3.52% 2.63% 3.76% 2.52% Yield on earning assets 4.72% 4.71% 4.73% 4.67% 4.82% Cost of deposits 1.86% 1.85% 1.28% 1.84% 1.29% Cost of borrowings 2.83% 2.72% 2.61% 2.74% 2.69% Cost of money 2.35% 2.27% 1.82% 2.28% 1.87% Earnings spread 2.37% 2.44% 2.91% 2.39% 2.95% Effective net spread 2.44% 2.51% 3.02% 2.47% 3.07%
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