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FIRST FINANCIAL OF MARYLAND FEDERAL CREDIT UNION

Mar, 31, 2022 — FIRST FINANCIAL OF MARYLAND FEDERAL CREDIT UNION is a federal credit union headquartered in SPARKS, MD with 8 branch locations and about $1.27 billion in total assets. Opened 69 years ago in 1953, FIRST FINANCIAL OF MARYLAND FEDERAL CREDIT UNION has about 65,153 members and employs 157 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:FIRST FINANCIAL OF MARYLAND FEDERAL CREDIT UNION
Address:
(Main Office)
72 Loveton Cir
SPARKS, MD 21152-9202
Phone:(410) 321-6060
Fax:(410) 321-6352
Website:http://www.firstfinancial.org
Branches:8 branch locations
Members:65,153
Credit Union Type:Federal Credit Union
Charter Number:8554
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1953
Last Audited:Dec 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$1,271,250,504
CEO/Manager:Eric P Church
Chairperson:Robert Brenneman

Call Report

  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 102,067,752
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 433,169,472
 Unsecured Loans 80,667,651
 Other Loans 131,430,664
 TOTAL LOANS 645,267,787
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -3,133,068
 Land And Building 14,452,647
 Other Fixed Assets 1,882,371
 NCUSIF Deposit 9,769,387
 All Other Assets 0
  TOTAL ASSETS 1,271,250,504
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 18,662,785
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 209,115,963
 Regular shares 676,255,617
 All Other Shares & Deposits 166,888,654
  TOTAL SHARES & DEPOSITS 1,052,260,234
  TOTAL LIABILITIES 1,070,923,019
 Regular Reserve 0
 Other Reserves -20,905,503
 Undivided Earnings 221,232,988
  TOTAL EQUITY 200,327,485
  TOTAL LIABILITIES, SHARES, & EQUITY 1,271,250,504
INCOME & EXPENSE  
 Loan Income 6,312,716
 Investment Income 1,343,835
 Other Income 535,958
 Total Employee Compensation & Benefits 4,498,082
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 3,455,020
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 405,000
 Cost of Funds 456,349
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 881,279
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