First Federal Bank
Lake City, Florida, Columbia County
$4.5B in total assets, the 317th largest of 4,309 US banks and 12th of 84 headquartered in Florida.
- FDIC certificate
- 31313
- Established
- 1961
- Owned by
- First Federal Bcorp Mhc
- Primary regulator
- OCC
- Website
- www.ffbf.com
At a glance
Compared with 24 banks headquartered in Florida with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $4.5B | 83% | $2.2B | |
| Loans | $1.4B | 50% | $1.5B | |
| Deposits | $3.4B | 79% | $1.9B | |
| Return on assets | 0.68% | 12% | 1.24% | |
| Net interest margin | 3.32% | 17% | 3.54% | |
| Efficiency ratio | 66.7% | 75% | 57.2% | |
| Equity to assets | 10.38% | 75% | 9.63% | |
| Loans to deposits | 42% | 2% | 77% |
Growth
Total assets grew 7.2% a year over the last 5 years and 13.4% a year over 10 years, including 1 acquisition in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Apr 2018 | CBC NATIONAL BANK Fernandina Beach, FL | $542M |
| Oct 2013 | Bank of Jackson County Graceville, FL | $25M |
| Apr 2013 | Chipola Community Bank Marianna, FL | $37M |
| May 2010 | The Bank of Bonifay Bonifay, FL | $243M |
| Oct 2009 | Flagship National Bank Bradenton, FL | $178M |
Where they operate
27 branches in 15 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Columbia County, FL | $1.6B | 71.8% | 1 of 6 |
| Suwannee County, FL | $586M | 57.3% | 1 of 5 |
| Nassau County, FL | $297M | 16.3% | 2 of 12 |
| Jackson County, FL | $190M | 22.3% | 1 of 8 |
| Baker County, FL | $144M | 43.7% | 1 of 3 |
| Holmes County, FL | $105M | 77.7% | 1 of 2 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 10 branches since 2016 (17 to 27, +58.8%). 9 opened, 7 acquired, 6 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 17 | |||
| 2016 | Sold 2 branches to Sunshine BankOpened Panama City and Yulee, closed Yulee | 2 | 3 | −1 | 16 |
| 2017 | Opened Graceville | 1 | 0 | +1 | 17 |
| 2018 | Acquired CBC NATIONAL BANKOpened Gainesville, closed Fernandina Beach | 8 | 2 | +6 | 23 |
| 2019 | Opened 3 in FloridaClosed The Villages | 3 | 1 | +2 | 25 |
| 2025 | Opened Jacksonville and Starke | 2 | 0 | +2 | 27 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 35% | 28% | |
| Commercial real estate | 25% | 37% | |
| Business (C&I) | 11% | 17% | |
| Consumer | 6% | 4% | |
| Construction and land | 4% | 5% | |
| Farmland | 1% | 1% | |
| Multifamily | 0% | 5% | |
| Other | 18% | 4% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 58% | 54% | |
| Time deposits | 31% | 21% | |
| Noninterest-bearing | 11% | 25% |
Brokered deposits are 25.2% of deposits (peers 4.7%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 2.77% | 0.29% |
| Net charge-offs, annualized | 0.11% | 0.03% |
| Reserves to loans | 0.76% | 1.20% |
| Leverage ratio | 10.83% | 9.97% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Florida
Largest competitors in Columbia County, FL
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/first-federal-bank-lake-city-fl