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Firstfed Financial Corp. (FED) is in the Financial Services Industry
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Crisis of Confidence Hits Regional Bank Shares
By Jonathan Spicer and Juan LagorioNEW YORK (Reuters) - Shares of regional banks sank on Monday, with Sovereign Bancorp SOV and National City Corp NCC down 60 percent, as investors feared the sector would be steamrolled by the deepening global credit crisis.As Wall Street sagged after the House of Representatives...
The Fundamental Upside of the Short Sale Ban
Philip Gvinter submits: While the artificial nature and blatant bull-biased market manipulation and resulting historic short squeeze caused by the short sale ban are disturbing and in my opinion bad for the market there is one serious upside to this bit of government intervention. The upside lies in the...
S&P 1500 Stocks With The Highest Short Interest
Hickey and Walters Bespoke submit: Yesterday's release of the bi-monthly short interest figures showed that short sellers trimmed their bets for the third period in a row. As of August 29th, the average short interest as a percentage of float for stocks in the S&P 1500 declined to...
The Option Arm Triplets: Dead Banks Walking
Greg Weston submits: I am continually surprised that people are willing to hold, at any price, the common stock of regional Option-ARM mortgage disasters Downey Financial DSL, BankUnited Financial Corporation BKUNA, and FirstFed Financial FED. They are dead banks walking. The big investment banks, money center banks, insurance companies, and...
Short Thesis Still Intact at FirstFed
Prudent Speculations submits: I have been bearish on FirstFed Financial FED for sometime and despite the stock’s recent run up and what would appear at first glance to be a slight improvement in the company’s underlying fundamentals, I believe that the short case for the company bears reiteration. FirstFed,...
A Short Update on My 4 Short Ideas
Greg Weston submits: So far I have written four “Short Ideas” for Seeking Alpha, and my track record has been stellar. My article on Crystal River CRZ was submitted when the stock was around 3.5, and as I write it is now at 2.18, down nearly 40%. In it...
Additional Resources
FirstFed Reports Results for the Second Quarter of 2008
LOS ANGELES -- FirstFed Financial Corp. (NYSE:FED), parent company of First Federal Bank of California, today announced lower loan loss provisions and a decline in single family loans less than 90 days delinquent in the second quarter of 2008 compared to the first quarter of 2008. "While there can be...
FirstFed Financial Corp. Announces Appointment of Nicholas C. Biase as Director
LOS ANGELES -- The Board of Directors of FirstFed Financial Corp. (NYSE:FED) today announced that Nicholas C. Biase has been appointed by the Board of Directors of the Company to a seat on the Board. Biase currently serves as a representative and a Member of the Board of...
First Federal Bank of California Opens New Branch in Buena Park
LOS ANGELES -- First Federal Bank of California today announced the opening of its newest banking office in Buena Park. Located at 7872 Valley View Street, this branch will provide the local community with a full array of both consumer and business banking products and services. ...
First Federal Bank of California Opens Two New Branches in Southern California
LOS ANGELES -- First Federal Bank of California, the wholly-owned subsidiary of FirstFed Financial Corp. (NYSE:FED), today announced the opening of two new branch office locations. Located in Westlake Village and Irvine, both branches are full-service, providing a complete range of both consumer and commercial banking products and services. ...
FirstFed Reports Results for the First Quarter of 2008
LOS ANGELES -- FirstFed Financial Corp. (NYSE:FED), parent company of First Federal Bank of California, today announced a net loss of $69.8 million or $5.11 per diluted share of common stock for the first quarter of 2008 compared to net income of $8.4 million or $0.61 per diluted share of...
FirstFed Reports Estimated Losses at March 31, 2008
LOS ANGELES -- FirstFed Financial Corp. (NYSE:FED), parent company of First Federal Bank of California, today announced that they expect to substantially increase their allowance for single family loan losses at March 31, 2008. The Bank's total provision for loan losses for the current quarter is expected to be between...
FirstFed Reports Preliminary Results for the Fourth Quarter of 2007
SANTA MONICA, Calif. -- FirstFed Financial Corp. (NYSE:FED), parent company of First Federal Bank of California, today announced net income of $8.4 million or $0.61 per diluted share of common stock for the fourth quarter of 2007 compared to net income of $23.0 million or $1.57 per diluted share for...
FirstFed Reports Rising Delinquencies at December 31, 2007
SANTA MONICA, Calif. -- FirstFed Financial Corp. (NYSE:FED), parent company of First Federal Bank of California, today announced that, due to rising single family loan delinquencies, the provision for loan losses for the current quarter is expected to be between $20 million and $23 million, compared with $4.5 million that...
Babette E. Heimbuch Establishes Heimbuch Family Foundation
SANTA MONICA, Calif. -- Babette E. Heimbuch, Chairman of the Board and Chief Executive Officer of FirstFed Financial Corp. and First Federal Bank of California (NYSE: FED), has established the Heimbuch Family Foundation, a charitable foundation of which she is the sole trustee. On November 30, 2007, Ms. Heimbuch made...
FirstFed Financial Corp. Ranked #4 in Bank Director Magazine's 2007 Top 150 Performers
SANTA MONICA, Calif. -- FirstFed Financial Corp. (NYSE:FED), parent company of First Federal Bank of California is proud to announce its #4 ranking in Bank Director magazine's 2007 Top 150 Performers. This is the magazine's third annual Bank Performance Scorecard, which measures the performance of the country's...
First Federal Bank of California Opens In-Store Branch in Albertsons, Mission Viejo
SANTA MONICA, Calif. -- First Federal Bank of California, the fourth largest Los Angeles-based financial institutiona, today announced the opening of its newest retail banking office in the Albertsons supermarket at 23072 Alicia Parkway in Mission Viejo. This branch is First Fed's second in-store branch, and, as...
FirstFed Reports Results for the Third Quarter of 2007
SANTA MONICA, Calif. -- FirstFed Financial Corp. (NYSE:FED), parent company of First Federal Bank of California, today announced net income of $23.0 million or $1.56 per diluted share of common stock for the third quarter of 2007 compared to net income of $29.1 million or $1.74 per...
Five Top Earners in 2007
Barbara Desoer Chief Technology and Operations Officer Bank of America Salary: $800,000Non-equity incentive compensation: $3,575,000Total compensation: $4,375,000 Amy Brinkley Global Risk Executive Bank of America Salary: $800,000Non-equity incentive compensation: $3,450,000Total compensation: $4,250,000 Carrie Toldstedt...
Stock Pick
FirstFed Financial is the holding company for First Federal Bank of California, which provides everydiing from checking and savings accounts, to loans for residential and commercial real estate. It also sells annuities through its Oceanside Insurance Agency subsidiary. The recent meltdown in the mortgage banking industry hasn't touched FirstFed, which...
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- Incorporated: 1987
- CEO: Ms. Babette E. Heimbuch
- Employees: 615
FirstFed Financial, through its wholly-owned subsidiary, First Federal Bank of California, is engaged in attracting checking and savings deposits from the general public; and providing real estate, business and consumer loans. As of Jan 31 2008, Co. operated 33 full-service banking branches, all located in Southern California. In addition, Co. operates two lending offices located in Southern and Northern California, a call center that conducts transactions with deposit and loan clients by telephone, and an internet website through which clients can open accounts, transfer funds or pay bills. As of Dec 31 2007, Co. had total assets of $7.22 billion and total deposits of $4.16 billion.
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Firstfed Financial Corp. Company Info
Board of Directors
Ms. Babette E. Heimbuch
Chairman
Ms. Gisselle Acevedo
Mr. Nicholas C. Biase
Mr. James P. Giraldin
Mr. Brian E. Argrett
Mr. Jesse Casso Jr.
Mr. Christopher M. Harding
Dr. William G. Ouchi Ph.D.
Mr. William P. Rutledge
Mr. Steven L. Soboroff
Contact Information
401 Wilshire Boulevard
Santa Monica, CA
310 319-6000
NAICS Code
Savings Institutions: 522120Brought to you by IBM
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