Strength & Security | First Federal Bank of Kansas City

Bank customers focus on making sure their deposits are with a financial institution that is protecting their assets. We are pleased to report that First Federal Bank has tremendous financial strength and is one of the strongest financial institutions in the Midwest. The main factors that make First Federal Bank’s reputation for strength and security are as follows:

1) First Federal Bank of Kansas City is Extremely Well-Capitalized
	First Federal Bank is the envy of many banks during these uncertain economic times. A measurement of the strength that a financial institution offers is the amount of capital it possesses. First Federal Bank has nearly $53 Million in capital. First Federal Bank has grown to be the largest mutually owned bank in Missouri and currently has nearly $400 Million in assets. Bank regulators consider a bank the size of First Federal Bank “adequately” capitalized if its capital account was at least 4% of assets ($15 Million) and “well capitalized” at 5% ($19 Million). First Federal Bank’s capital position is nearly 14% ($53.4 Million) and places it among the strongest and best capitalized banks in the Midwest.
Currently some banks in the Kansas City area are promoting their safety and soundness with capital levels of 7%. First Federal Bank’s capital position is nearly twice as strong as those institutions promoting their capital levels. Since 1934 First Federal Bank has focused on building a strong and secure bank for its customers, which makes its capital position emerge as a rare “bright spot” among local banks.
2) Your Deposits are FDIC-Insured
No one has ever lost a penny in FDIC-insured deposits. FDIC insurance now covers each depositor up to $250,000. Also, First Federal Bank is participating in the Transaction Account Guarantee Program. Under that program, your noninterest-bearing transaction accounts* with First Federal Bank have unlimited FDIC deposit insurance. This insurance is in addition to the FDIC’s normal deposit insurance coverage of $250,000. Unless extended by the FDIC, this additional insurance is available only through December 31, 2010. At that time, FDIC deposit insurance coverage will revert to $250,000. *Noninterest-bearing transaction accounts include all of First Federal Bank’s NOW accounts, except accounts paying higher than 0.50%. Effective July 1, 2010, the 0.50% rate of interest will be reduced to 0.25%. .
Visit Us to Learn More
You can learn more about First Federal Bank’s strength by visiting our First Federal location nearest you. We will be happy to visit with you about First Federal Bank’s outstanding capital position. We will also be happy to explain FDIC insurance and identify the coverage you have on your deposits at First Federal Bank. We can open additional accounts for you if you are interested in moving money from other institutions.