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) July 28, 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 June 30, 2005 attached as Exhibit 99.1, 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 99.1 Monthly Financial Data as of June 30, 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: July 28, 2005 By:/s/ Douglas J. Goddard ---------------------- Douglas J. Goddard Chief Financial Officer 2 INDEX TO EXHIBITS Item Page 99.1 Monthly Financial Information as of June 30, 2005 4 3 EXHIBIT 99.1 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 As of, for As of, for the month the month the month the 6 the 6 months ended ended ended months ended ended June 30, May 31, June 30, June 30, June 30, 2005 2005 2004 2005 2004 ---- ---- ---- ---- ---- Cash and investment securities $ 245,008 $ 247,111 $ 316,162 $ 245,008 $ 316,162 Total assets $ 9,278,669 $ 9,062,480 $ 5,524,926 $ 9,278,669 $ 5,524,926 LOANS: Total mortgage-backed securities $ 85,351 $ 87,048 $ 116,378 $ 85,351 $ 116,378 Total loans, net $ 8,689,738 $ 8,485,123 $ 4,928,047 $ 8,689,738 $ 4,928,047 Loans originated/purchased: Single family loans $ 336,661 $ 360,914 $ 230,355 $ 2,277,745 $ 980,665 Multi-family loans 45,046 71,162 46,944 285,672 231,719 Commercial real estate loans 5,972 4,546 6,342 28,822 16,008 Other 5,921 2,028 5,753 25,553 47,775 -------------- ------------- -------------- ------------- --------------- $ 393,600 $ 438,650 $ 289,394 $ 2,617,792 $ 1,276,167 ============== ============= ============== ============= =============== Percentage of ARMs originated: 100% 100% 100% 100% 98% Loan repayments: Single family loans $ 130,431 $ 99,042 $ 87,248 $ 559,239 $ 464,183 Multi-family and commercial real estate loans 60,958 28,346 57,853 195,716 241,066 Other 3,457 1,060 436 25,800 24,814 -------------- ------------- -------------- ------------- --------------- $ 194,846 $ 128,448 $ 145,537 $ 780,755 $ 730,063 ============== ============= ============== ============= =============== Loans sold $ -- $ -- $ 824 $ -- $ 3,017 Average rate on loans originated/purchased 5.76% 5.65% 4.37% 5.45% 4.45% Percentage of portfolio in adjustable rate loans 94.77% 93.99% 83.60% 94.77% 83.60% Non-performing assets to total assets 0.07% 0.06% 0.02% 0.07% 0.02% BORROWINGS: Federal Home Loan Bank Advances $ 3,426,913 $ 3,317,213 $ 2,169,000 $ 3,426,913 $ 2,169,000 Reverse repurchase agreements $ 1,230,978 $ 1,231,978 $ 125,224 $ 1,230,978 $ 125,224 DEPOSITS: Retail deposits $ 2,489,958 $ 2,502,235 $ 2,531,152 $ 2,489,958 $ 2,531,152 Wholesale deposits 1,518,508 1,437,656 257,306 1,518,508 257,306 -------------- ------------- -------------- ------------- --------------- $ 4,008,466 $ 3,939,891 $ 2,788,458 $ 4,008,466 $ 2,788,458 ============== ============= ============== ============= =============== Net increase (decrease) $ 68,575 $ 73,140 $ 38,255 $ 223,571 $ 231,032 AVERAGE INTEREST RATES: Yield on loans 5.10% 5.05% 4.69% 4.98% 4.80% Yield on investments 3.77% 3.99% 2.53% 3.73% 2.58% Yield on earning assets 5.06% 5.02% 4.57% 4.85% 4.70% Cost of deposits 2.23% 2.12% 1.27% 1.98% 1.28% Cost of borrowings 3.20% 3.10% 2.45% 2.94% 2.55% Cost of money 2.75% 2.64% 1.79% 2.47% 1.81% Earnings spread 2.31% 2.38% 2.78% 2.38% 2.89% Effective net spread 2.41% 2.46% 2.87% 2.47% 2.99% 4