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Stock impact report

KBRA Assigns Ratings to First Federal Bancorp, Inc. [Yahoo! Finance]

Financial Institutions, Inc. (FISI) 
Last financial institutions, inc. earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/1016825
Company Research Source: Yahoo! Finance
debt rating of K3 to Lake City, Florida-based First Federal Bancorp, Inc. ("First Federal" or "the company"). In addition, KBRA assigns deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 to its main subsidiary, First Federal Bank. The Outlook for all long-term ratings is Stable. First Federal's ratings are supported by the company's strong consolidated risk-based capital ratios, substantial earnings contribution from noninterest income, and solid on-balance-sheet liquidity. Additionally, the company employs a comprehensive hedging program to mitigate interest rate risk associated with long-duration securities within its sizeable investment portfolio as well as its residential mortgage portfolio. In KBRA's view, this prudent strategy supports the ratings. Strong risk-based capital ratios benefit from the company's asset composition (52% RWA density), driven by its large investment portfolio (over half Show less Read more
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