First State Bank (Key West, FL): Financial Reports & UBPR Data
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Data as of · sourced from FFIEC call reports. How we update
First State Bank spends more to run itself than most banks of its size. Based in Key West, Florida, it had $1.2 billion in assets at June 30, 2026, up 2.1% from a year earlier. It earns about $0.51 a year on every $100 of assets, about a third the median of $1.29 for the 895 banks with $1 billion to $10 billion in assets. It also spends about 82 cents to bring in each dollar of revenue, higher than about 9 in 10 banks its size (median 58 cents).
Net income for the quarter slipped 13% from a year earlier, to $1.5 million. Over the same year, loans shrank 2.9% and deposits grew 2.3%. Concentration is the risk to watch: it holds commercial real estate loans worth 3.0 times its capital, higher than about three-quarters of banks its size (median 2.2 times).
As of June 30, 2026, First State Bank reported a CET1 capital ratio of 16.00%, a return on assets of 0.51%, a nonperforming-loan ratio of 0.15% and a Texas ratio of 1.06%, according to its call report filed with the FFIEC.
Headquarters Profile
- Address
- 1201 Simonton St, Key West, FL 33040
- County
- Monroe
- Metro Area
- Key West-Key Largo, FL
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Atlanta (Region 5)
- Federal Reserve member
- No
- Federal Reserve district
- District 6, Atlanta
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 051
- Established
- October 29, 1955
- Former names
- First State Bank of the Florida Keys (1988-2026); Florida Keys First State Bank (1978-1988); Key West State Bank (1977-1978)
- Offices
- 9 domestic
- Employees (FTE)
- 188
- Domestic deposits
- $1.06B
- Allowance for credit losses
- $9.3M
- Net charge-offs (YTD)
- -$245K
- Average total assets
- $1.18B
- Average total loans
- $787.7M
- Average interest-bearing deposits
- $788.2M
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- October 29, 1955
- FDIC Cert
- 17509
- Fed RSSD
- 191935
- SEC CIK
- 1495011 → filed by FIRST STATE BANK HOLDING COMPANY
- Website
- keysbank.com →
- Parent Holding Company
- FIRST STATE BANK HOLDING COMPANY (RSSD 3897519)
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Rows tagged YTD are fiscal year to date through June 30, 2026, as filed. Net income is tagged Q2 because it is that quarter's own figure, not a running total, so it cannot be compared with a YTD row. ROA, ROE and net interest margin are the quarter's own income, annualized. The UBPR and FDIC annualize the year to date instead, so after the first quarter their figures differ from ours; where the UBPR has this quarter, its value is shown beside each as YTD.
Quarterly trends
Last 12 quarters from this bank's own FFIEC call reports. Dollar figures are the quarter's own amount: the income statement is filed year to date, so those lines are shown net of the preceding quarter.
Balances at each quarter end. The gap between the two lines is equity capital.
Balances at each quarter end. Loans rising toward deposits is the loan-to-deposit ratio tightening.
Balances at each quarter end. Each line is its own balance, not stacked on the other.
Each bar is that quarter alone. The gap between the two is net interest income.
What the balance sheet earned on spread that quarter, before fees and operating costs.
Fees, trading and other income against salaries, premises and the rest of the cost base.
What the bank charged to earnings that quarter to build its allowance for expected losses.
Net income for the quarter alone. The Call Report reports it year to date; this series converts it to the single quarter, so each bar covers three months.
CET1 is common equity tier 1 as a share of risk-weighted assets; the leverage ratio is tier 1 capital as a share of average total assets. A bank that files the community bank leverage ratio reports no CET1 ratio, so only its leverage line appears.
Inside the full First State Bank terminal
26 years of quarterly trends · 8 tabs · peer percentiles · Excel export
Unlock First State Bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
Commercial real estate loans are between 200% and 300% of total capital, approaching the 2006 interagency guidance threshold of 300% that triggers heightened supervisory attention. BankRegReports early-warning band below the 300% guidance.
First State Bank rankings
How this bank ranks on each leaderboard. Click any rank to see the full ranked list.
Ranked among banks that report this metric, so the total differs from card to card. The CET1 ranking leaves out community bank leverage ratio filers, which report no CET1 ratio.
Quarterly trend: last 8 quarters
Quarter-over-quarter movement in the five most-watched ratios. Sourced from the bank's own FFIEC call report filings.
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 16.00% | 0.51% | 0.30% | 1.06% | 3.39% |
| Q1 2026 | 15.49% | 0.53% | 0.15% | 1.07% | 3.34% |
| Q4 2025 | 15.30% | 0.47% | 0.13% | 0.93% | 3.41% |
| Q3 2025 | 15.87% | 0.63% | 0.16% | 1.16% | 3.25% |
| Q2 2025 | 15.47% | 0.57% | 0.14% | 1.07% | 3.17% |
| Q1 2025 | 16.94% | 0.69% | 0.15% | 1.03% | 2.95% |
| Q4 2024 | 16.75% | 0.20% | 0.17% | 1.21% | 2.97% |
| Q3 2024 | 16.89% | 0.43% | 0.17% | 1.17% | 2.88% |
Swipe the table sideways to see every column.
Branch Network
Every branch from the FDIC Summary of Deposits, listed with the deposits booked at each location. The FDIC's office count above also includes administrative and limited-service offices, so the two totals can differ. View all 9 branches →
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| First State Bank (main office) | Key West , FL | 33040 | $487.1M |
| Boulevard Branch | Key West , FL | 33040 | $156.6M |
| Big Pine Branch | Big Pine Key , FL | 33043 | $111.2M |
| Key Largo Branch | Key Largo , FL | 33037 | $99.8M |
| Marathon Branch | Marathon , FL | 33050 | $91.6M |
| Islamorada Branch | Islamorada , FL | 33036 | $40.2M |
| Tradewinds Branch | Key Largo , FL | 33037 | $37.7M |
| Stock Island Branch | Stock Island , FL | 33040 | $33.7M |
| Miramar Branch | Miramar , FL | 33025 | $0 |
Regulatory record
What the public regulatory sources show for First State Bank, each with its period and source. These are facts as filed or published, not a rating or score. "Not on file" means we hold no record from that source, which is not the same as a clean record.
- Enforcement actions
- Not on file: no matched FDIC, Federal Reserve or OCC action
- Period: not on file. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 0.1% of deposits in FL, rank 64 of 192 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- Not on file: no HMDA filing matched
- Period: not on file. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 1 loans, $604K approved, $604K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2022 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Consumer complaints
- Not on file: no CFPB complaints matched
- Period: not on file. Source: CFPB consumer complaint database.
- CFPB enforcement
- Not on file: CFPB enforcement actions are not loaded
- Period: not on file. Source: CFPB enforcement actions.
- CRA examination rating
- Not on file: FFIEC CRA ratings are not loaded
- Period: not on file. Source: FFIEC CRA ratings.
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Frequently asked about First State Bank
What are First State Bank's total assets?
As of the Q2 2026 filing, First State Bank reported total assets of $1.18 billion in its FFIEC call report. All figures come directly from the bank's quarterly Schedule RC filing.
Where is First State Bank headquartered?
First State Bank is headquartered in Key West, FL, United States. It files quarterly FFIEC call reports, as every FDIC-insured commercial bank must.
When was First State Bank founded?
First State Bank was established in 1955, per the FDIC institution directory.
Is First State Bank FDIC-insured?
Yes. First State Bank is an FDIC-insured commercial bank (FDIC Certificate #17509). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First State Bank?
First State Bank's primary federal regulator is the FDIC. All FDIC-insured banks also report to the FDIC and, depending on charter, the Federal Reserve.
What is First State Bank's CET1 capital ratio?
First State Bank reported a Common Equity Tier 1 (CET1) capital ratio of 16.00% in its Q2 2026 call report, comfortably above the 7% level required once the capital conservation buffer is included.
How many branches does First State Bank operate?
First State Bank operates 9 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is First State Bank's Texas Ratio?
First State Bank's Texas Ratio is 1.06% in its Q2 2026 call report, within the healthy range (under 25%). The Texas Ratio measures non-performing assets against the bank's capital and reserves; the glossary entry for the Texas Ratio carries the full definition.
What was First State Bank previously called?
The charter now named First State Bank has also operated as First State Bank of the Florida Keys (1988-2026), Florida Keys First State Bank (1978-1988), Key West State Bank (1977-1978), per FDIC structure-change records.
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