First Fed Bank: how it compares with its peers
Against 8 WA banks with half to twice its assets, First Fed Bank's strongest measure in Q2 2026 is assets per employee ($9.1M vs. a $6.9M peer median). Its weakest relative measure is efficiency ratio (94.71% vs. 66.55%).
| Measure | First Fed Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 0.20% | 1.02% | Bottom third Ahead of 13% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.06% | 3.78% | Bottom third Ahead of 13% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 94.71% | 66.55% | Bottom third Ahead of 0% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $9.1M | $6.9M | Top third Ahead of 75% of peers |
| Loans to deposits Net loans and leases over total deposits. | 99.02% | 85.03% | Context |
What it means for lending operations
Its efficiency ratio of 94.71% is above the 66.55% peer median: it spends more to earn each dollar of revenue than most banks its size. Staff time on manual borrower verification (collecting pay stubs, bank statements, and employment letters, then re-keying them) is one of the larger controllable costs behind that number.
Banks closest in size
- Timberland Bank Hoquiam, WA · $2.06B
- Yakima Federal Savings and Loan Association Yakima, WA · $2.00B
- Cashmere Valley Bank Cashmere, WA · $2.32B
- Peoples Bank Bellingham, WA · $2.42B
- Riverview Bank Vancouver, WA · $1.47B
Questions about First Fed Bank
How big is First Fed Bank?
First Fed Bank, established in 1923, is headquartered in Port Angeles, WA. It reported $2.11B in total assets in its Q2 2026 FDIC call report and operates 14 offices.
What is First Fed Bank's return on assets?
0.20% annualized in Q2 2026, against a 1.02% median for 8 WA banks with half to twice its assets, ahead of 13% of them.
What is First Fed Bank's efficiency ratio?
94.71% in Q2 2026: it spent about 95 cents in noninterest expense for each dollar of revenue. The peer median is 66.55%, and lower is better.
Is First Fed Bank growing its loans?
Net loans shrank 2.9% over the year to Q2 2026, while deposits shrank 2.7%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are WA banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Washington bank ranked.