-----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, O8iezqlOdc2toNUO7tKRY+1Vct3Mx//utYgHHmyNYC0t2Rvvh/gpZdOcHcaFifkG jgASND9FtFMn8CBr5Ci70Q== 0000810536-05-000016.txt : 20050617 0000810536-05-000016.hdr.sgml : 20050617 20050617151923 ACCESSION NUMBER: 0000810536-05-000016 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050531 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050617 DATE AS OF CHANGE: 20050617 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: 05903004 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 mrop0505.txt MROP 05.31.05 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 17, 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 May 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 99.1 Monthly Financial Data as of May 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: June 17, 2005 By:/s/ Douglas J. Goddard ---------------------- Douglas J. Goddard Chief Financial Officer INDEX TO EXHIBITS Item Page 99.1 Monthly Financial Information as of May 31, 2005 4 EXHIBIT 99.1 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 5 the 5 months ended ended ended months ended ended May 31, Apr. 30, May 31, May 31, May 31, 2005 2005 2004 2005 2004 Cash and investment securities $ 247,111 $ 256,462 $ 333,023 $ 247,111 $ 333,023 Total assets $ 9,062,480 $ 8,756,054 $ 5,387,868 $ 9,062,480 $ 5,387,868 LOANS: Total mortgage-backed securities $ 87,048 $ 89,489 $ 118,494 $ 87,048 $ 118,494 Total loans, net $ 8,485,123 $ 8,170,414 $ 4,781,744 $ 8,485,123 $ 4,781,744 Loans originated/purchased: Single family loans $ 360,914 $ 426,769 $ 167,819 $ 1,941,084 $ 750,310 Multi-family loans 71,162 33,700 20,767 240,626 184,775 Commercial real estate loans 4,546 -- 1,050 22,850 9,666 Other 2,028 8,168 7,213 19,632 42,022 -------------- ------------- -------------- ------------- --------------- $ 438,650 $ 468,637 $ 196,849 $ 2,224,192 $ 986,773 ============== ============= ============== ============= =============== Percentage of ARMs originated: 100% 100% 100% 100% 98% Loan repayments: Single family loans $ 99,042 $ 95,662 $ 84,657 $ 428,808 $ 376,935 Multi-family and commercial real estate loans 28,346 22,883 26,733 134,758 183,213 Other 1,060 1,997 4,641 22,343 24,378 -------------- ------------- -------------- ------------- --------------- $ 128,448 $ 120,542 $ 116,031 $ 585,909 $ 584,526 ============== ============= ============== ============= =============== Loans sold $ -- $ -- $ 575 $ - $ 2,193 Average rate on loans originated/purchased 5.65% 5.57% 4.37% 5.39% 4.47% Percentage of portfolio in adjustable rate loans 93.99% 93.89% 83.03% 93.99% 83.03% Non-performing assets to total assets 0.06% 0.08% 0.04% 0.06% 0.04% BORROWINGS: Federal Home Loan Bank Advances $ 3,317,213 $ 3,096,213 $ 2,074,000 $ 3,317,213 $ 2,074,000 Reverse repurchase agreements $ 1,231,978 $ 1,231,978 $ 115,224 $ 1,231,978 $ 115,224 DEPOSITS: Retail deposits $ 2,502,235 $ 2,473,726 $ 2,545,493 $ 2,502,235 $ 2,545,493 Wholesale deposits 1,437,656 1,393,025 204,710 1,437,656 204,710 -------------- ------------- -------------- ------------- --------------- $ 3,939,891 $ 3,866,751 $ 2,750,203 $ 3,939,891 $ 2,750,203 ============== ============= ============== ============= =============== Net increase (decrease) $ 73,140 $ 58,689 $ 20,033 $ 154,996 $ 192,777 AVERAGE INTEREST RATES: Yield on loans 5.05% 4.90% 4.69% 4.82% 4.77% Yield on investments 3.99% 3.62% 2.82% 3.78% 2.65% Yield on earning assets 5.02% 4.86% 4.60% 4.79% 4.67% Cost of deposits 2.12% 1.97% 1.27% 1.92% 1.28% Cost of borrowings 3.10% 2.99% 2.41% 2.80% 2.53% Cost of money 2.64% 2.50% 1.77% 2.40% 1.81% Earnings spread 2.38% 2.36% 2.83% 2.37% 2.86% Effective net spread 2.46% 2.44% 2.93% 2.47% 2.96%
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