-----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, E0lwQGx0I+JRFFqzPkOeG0G5jKOrRkSPgbv9UJusee4Z6yQbSHNB1Ezk3s8BYLlR NyCrxz0+9z05GOaPWYIGGQ== 0000810536-07-000032.txt : 20070628 0000810536-07-000032.hdr.sgml : 20070628 20070628130205 ACCESSION NUMBER: 0000810536-07-000032 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070531 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070628 DATE AS OF CHANGE: 20070628 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: 07946028 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 rop0507.txt MONTHLY REPORT OF OPERATIONS, MAY 31, 2007 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 28, 2007 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 5 Index to Exhibits is on Page 3 1 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 May 31, 2007 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 May 31, 2007 (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 28, 2007 By: /s/ Douglas J. Goddard ---------------------- Douglas J. Goddard Chief Financial Officer 2 INDEX TO EXHIBITS Exhibit Page - ------- ---- 99.1 Monthly Financial Data as of and for the period ended May 31, 2007 4-5 3 EXHIBIT 99.1 First Federal Bank of California MONTHLY REPORT OF OPERATIONS Unconsolidated Financial Highlights Unaudited (Dollars in thousands) As of, for the As of, for the As of, for the As of, for the As of, for the month ended month ended month ended 5 months ended 5 months ended May 31, April 30, May 31, May 31, May 31, 2007 2007 2006 2007 2006 -------------- -------------- -------------- -------------- -------------- Cash and investment securities $ 336,630 $ 338,797 $ 377,413 $ 336,630 $ 377,413 Total mortgage- backed securities $ 51,346 $ 51,833 $ 65,906 $ 51,346 $ 65,906 Total assets $ 7,853,963 $ 8,156,818 $ 10,391,317 $ 7,853,963 $ 10,391,317 LOANS: Total loans $ 7,233,433 $ 7,534,512 $ 9,619,601 $ 7,233,433 $ 9,619,601 Loans Funded: Single-family loans $ 37,792 $ 52,962 $ 183,666 $ 310,372 $ 1,005,328 Multi-family loans 4,755 13,060 37,284 52,083 115,508 Commercial & industrial real estate loans -- 1,500 2,688 5,955 10,028 Other loans 1,180 8,921 828 11,269 15,781 -------------- -------------- -------------- -------------- -------------- Total Loans Funded: $ 43,727 $ 76,443 $ 224,466 $ 379,679 $ 1,146,645 Loans originated for third parties: 4,130 20,735 1,992 71,623 35,536 -------------- -------------- -------------- -------------- -------------- Total Loans Originated: $ 47,857 $ 97,178 $ 226,458 $ 451,302 $ 1,182,181 ============== ============== ============== ============== ============== Percentage of ARMs originated: 50% 57% 97% 49% 99% Loan repayments: Single-family loans $ 220,220 $ 213,910 $ 211,100 $ 1,070,621 $ 912,656 Multi-family and commercial real estate loans 41,574 38,689 34,441 200,617 152,556 Other loans 4,183 1,695 3,379 21,567 23,594 -------------- -------------- -------------- -------------- -------------- $ 265,977 $ 254,294 $ 248,920 $ 1,292,805 $ 1,088,806 ============== ============== ============== ============== ============== Loans sold $ 69,049 $ 86,481 $ 86,723 $ 336,079 $ 107,133 Percentage of portfolio in adjustable rate loans 97.04% 97.06% 96.51% 97.04% 96.51% Non-performing assets to total assets ratio 0.65% 0.56% 0.11% 0.65% 0.11% BORROWINGS: Federal Home Loan Bank advances $ 1,120,000 $ 1,548,000 $ 3,203,000 $ 1,120,000 $ 3,203,000 Reverse repurchase agreements $ 900,000 $ 801,000 $ 1,021,000 $ 900,000 $ 1,021,000 DEPOSITS: Retail deposits $ 3,004,350 $ 2,954,873 $ 2,660,598 $ 3,004,350 $ 2,660,598 Wholesale deposits 1,893,882 1,919,169 2,683,830 1,893,882 2,683,830 -------------- -------------- -------------- -------------- -------------- $ 4,898,232 $ 4,874,042 $ 5,344,428 $ 4,898,232 $ 5,344,428 ============== ============== ============== ============== ============== Net increase (decrease) $ 24,190 $ (257,508) $ 111,394 $ (1,003,886) $ 959,374
4 AVERAGE INTEREST RATES (CONSOLIDATED): Yield on loans 8.03% 8.02% 6.99% 7.98% 6.76% Yield on investments 5.38% 5.59% 4.91% 5.50% 4.92% Yield on earning assets 7.89% 7.86% 6.86% 7.84% 6.65% Cost of deposits 4.38% 4.44% 3.89% 4.49% 3.57% Cost of borrowings 5.39% 5.39% 4.79% 5.38% 4.54% Cost of money 4.71% 4.76% 4.31% 4.77% 4.06% Earnings spread 3.18% 3.10% 2.55% 3.07% 2.59% Effective net spread 3.54% 3.50% 2.79% 3.46% 2.77%
5 -----END PRIVACY-ENHANCED MESSAGE-----