-----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, RMTd0NVC60CzCh+5P3LHCCT9TKvn5axnQXLb9V9Cmfuc36DSH4UoEH8TRJ4k6GW9 gCn6fIQNPovfATpm3VWNlA== 0000810536-06-000063.txt : 20060921 0000810536-06-000063.hdr.sgml : 20060921 20060921120932 ACCESSION NUMBER: 0000810536-06-000063 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060831 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060921 DATE AS OF CHANGE: 20060921 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: 061101567 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 mrop0806.txt MONTHLY REPORT OF OPERATIONS, AUGUST 31, 2006 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): September 21, 2006 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 (17 CFR 240.13e-4(c)) Total number of pages is 4 Index to Exhibits 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 and for the period ended August 31, 2006 attached as Exhibit 99.1, which is being furnished in accordance with Rule 101(e)(1) under Regulation FD. 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 period of time, 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 and Exhibits. (d) Exhibits 99.1 Monthly Financial Data as of and for the period ended August 31, 2006 (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: September 21, 2006 By: /s/ Douglas J. Goddard ------------------ Douglas J. Goddard Chief Financial Officer INDEX TO EXHIBITS Exhibit Page 99.1 Monthly Financial Data as of and for the period ended August 31, 2006 4 EXHIBIT 99.1 First Federal Bank of California 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 8 months 8 months ended ended ended ended ended August 31, July 31, August 31, August 31, August, 31 2006 2006 2005 2006 2005 ---- ---- ---- ---- ---- Cash and investment securities $ 408,707 $ 464,307 $ 240,023 $ 408,707 $ 240,023 Total mortgage-backed securities $ 63,235 $ 63,767 $ 81,721 $ 63,235 $ 81,721 Total assets $ 10,055,318 $ 10,191,306 $ 9,662,790 $ 10,055,318 $ 9,662,790 LOANS: Total loans, net $ 9,338,578 $ 9,420,577 $ 9,065,398 $ 9,338,578 $ 9,065,398 Loans originated/purchased: Single family loans $ 182,698 $ 153,953 $ 390,358 $ 1,494,957 $ 2,966,320 Multi-family loans 23,522 18,980 6,165 180,063 328,470 Commercial real estate loans -- -- 6,886 11,057 37,639 Other 741 6,344 5,352 24,388 32,260 ----------- ---------- --------- ----------- ----------- $ 206,961 $ 179,277 $ 408,761 $ 1,710,465 $ 3,364,689 =========== ========== ========= =========== =========== Percentage of ARMs originated: 100 % 100 % 100 % 100 % 100 % Loan repayments: Single family loans $ 209,851 $ 216,570 $ 162,790 $ 1,529,939 $ 862,244 Multi-family and commercial real estate loans 34,604 29,409 38,219 243,906 262,602 Other 5,384 564 622 31,988 29,332 ----------- ---------- --------- ----------- ----------- $ 249,839 $ 246,543 $ 201,631 $ 1,805,833 $ 1,154,178 =========== ========== ========= =========== =========== Loans sold $ 36,926 $ 4,065 $ -- $ 226,254 -- Percentage of portfolio in adjustable rate loans 96.80 % 96.68 % 95.84 % 96.80 % 95.84 % Non-performing assets to total assets ratio 0.07 % 0.09 % 0.09 % 0.07 % 0.09 % BORROWINGS: Federal Home Loan Bank Advances $ 2,338,000 $ 2,488,000 $ 3,604,900 $ 2,338,000 $ 3,604,900 Reverse repurchase agreements $ 950,000 $ 1,000,000 $ 1,133,088 $ 950,000 $ 1,133,088 DEPOSITS: Retail deposits $ 2,715,886 $ 2,703,720 $ 2,549,417 $ 2,715,886 $ 2,549,417 Wholesale deposits 3,179,937 3,148,620 1,731,023 3,179,937 1,731,023 ----------- ---------- --------- ----------- ----------- $ 5,895,823 $ 5,852,340 $ 4,280,440 $ 5,895,823 $ 4,280,440 =========== ========== ========= =========== =========== Net increase (decrease) $ 43,483 $ 318,211 $ 176,618 $ 1,510,769 $ 495,545 AVERAGE INTEREST RATES (CONSOLIDATED): Yield on loans 7.48 % (1) 7.33 % (1) 5.67 % (1) 7.00 % (1) 5.21 % (1) Yield on investments 5.31 % (2) 5.36 % (2) 4.26 % (2) 5.03 % (2) 3.81 % (2) Yield on earning assets 7.36 % 7.21 % 5.61 % 6.88 % 5.14 % Cost of deposits 4.32 % 4.20 % 2.53 % 3.82 % 2.11 % Cost of borrowings 5.21 % 5.15 % 3.46 % 4.76 % 3.07 % Cost of money 4.65 % 4.58 % 3.03 % 4.27 % 2.60 % Earnings spread 2.71 % 2.63 % 2.58 % 2.61 % 2.54 % Effective net spread 3.00 % 2.89 % 2.74 % 2.78 % 2.67 % (1) Reflects the reclassification of prepayment fees and late payment charges to interest income from non-interest income. (2) Reflects the inclusion of the average balance in FHLB stock and the related dividend income.
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