UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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) February 24, 2005 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 917 CFR 240.13e-4(c)) Total number of pages is 4 Index to Exhibit is on Page 3. ITEM 7.01. REGULATION FD DISCLOSURE. The Registrant hereby incorporates by reference into this Item. 7 the summary monthly financial data as of January 31, 2005 attached as Exhibit 99.0, which is being furnished in accordance with Rule 101(e)(1) under Regulation FD and shall not be deemed to be filed. 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 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, PRO-FORMA FINANCIAL INFORMATION AND EXHIBITS (c) Exhibits 99.0 Monthly Financial Data as of January 31, 2005 (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: February 24, 2005 By:/s/ Douglas J. Goddard ---------------------- Douglas J. Goddard Chief Financial Officer 2 INDEX TO EXHIBITS Item Page 99.0 Monthly Financial Information as of January 31, 2005 4 3 First Federal Bank of California, fsb MONTHLY REPORT OF OPERATIONS Unconsolidated Financial Highlights Unaudited (Dollars in thousands) As of, for As of, for As of, for the month the month the month ended ended ended January 31, December 31, January 31, 2005 2004 2004 ---- ---- ---- Cash and investment securities $ 279,508 $ 318,929 $ 203,643 Total assets $ 7,771,179 $ 7,468,983 $ 4,919,858 LOANS: Total mortgage-backed securities $ 94,834 $ 97,059 $ 130,896 Total loans, net $ 7,169,421 $ 6,837,945 $ 4,438,783 Loans originated/purchased: Single family loans $ 368,324 $ 452,955 $ 126,832 Multi-family loans 35,953 37,184 28,314 Commercial real estate loans 10,747 14,228 2,600 Other 2,646 1,146 11,619 --------------- -------------- -------------- $ 417,670 $ 505,513 $ 169,365 =============== ============== ============== Percentage of ARMs originated: 100% 100% 98% Loan repayments: Single family loans $ 57,973 $ 104,414 $ 56,875 Multi-family and commercial real estate loans 16,387 43,452 46,907 Other 15,297 3,751 1,795 --------------- -------------- -------------- $ 89,657 $ 151,617 $ 105,577 =============== ============== ============== Loans sold $ -- $ -- $ 491 Average rate on loans originated/purchased 5.13% 5.17% 4.63% Percentage of portfolio in adjustable rate loans 91.63% 91.44% 79.56% Non-performing assets to total assets 0.05% 0.07% 0.09% BORROWINGS: Federal Home Loan Bank Advances $ 3,231,234 $ 3,004,600 $ 1,699,000 Reverse repurchase $ 187,000 $ 187,000 $ 120,122 agreements DEPOSITS: Retail deposits $ 2,502,065 $ 2,505,568 $ 2,506,591 Wholesale deposits 1,344,705 1,279,327 128,000 --------------- -------------- -------------- $ 3,846,770 $ 3,784,895 $ 2,634,591 =============== ============== ============== Net increase (decrease) $ 61,875 $ 134,919 $ 77,165 AVERAGE INTEREST RATES: Yield on loans 4.66% 4.58% 4.98% Yield on investments 3.66% 3.45% 1.92% Yield on earning assets 4.62% 4.54% 4.88% Cost of deposits 1.80% 1.73% 1.29% Cost of borrowings 2.64% 2.56% 2.77% Cost of money 2.19% 2.09% 1.90% Earnings spread 2.43% 2.45% 2.98% Effective net spread 2.51% 2.52% 3.10% 4