Mission Statement
To enhance the well-being of our customers by providing solutions to their financial needs.
Vision Statement
Provide knowledgeable staff to build relationships, understand financial needs, and provide solutions that exceed our customers’ expectations.
At First Federal, we pride ourselves on being a state of the art operating bank with old-fashioned values in taking care of our customers. We take our mission very seriously and strive each day to continue to play a vital role in the building of the communities of the Magic and Treasure Valleys.
Our History
On December 10, 1915, fifteen people assembled for a meeting held “for the purpose of discussing the feasibility of organizing a Building and Loan Company in Twin Falls County.” One week later, another meeting was held which resulted in the bank being chartered and stock sold. What is known as First Federal Bank today, was conceived. On January 7, 1916, the first stockholders’ meeting of the Twin Falls Building and Loan Association was held. The following stockholders were present: Dr. C.R. Scott, E.J. Finch, F.F. Bracken, Henry Dinkelacker, O.J. Johnson; J.H. VanTassel, Robert McBride, G.H. Self, I.E. Finney, A.D. Hughes, George Herriott, and C.H. Krengel. At this meeting, the company was incorporated, the bylaws were adopted and E.J. Finch was elected president.
The Twin Falls Building and Loan Association leased its first office space at 118 Shoshone Street West, in the Perrine Hotel building. The first loan was made on June 16, 1916, in the amount of $700. At the end of the first year of operations, the Association’s total assets were $3,376.99.
In 1919, O.J. Johnson was elected president. On January 12, 1920, the Association changed its name to The Mutual Building and Loan Association. As the Association continued to grow, a new location was needed, and that year it relocated its office to 303 Shoshone Street in the Addison T. Smith building.
In 1934, the Association made application to the Federal Home Loan Bank for conversion to a federal mutual savings and loan association. This application was granted. On January 28, 1935, the Association retired its stock, and the name was changed to First Federal Savings and Loan Association of Twin Falls. The conversion allowed the Association to focus on preserving a healthy, stable, and viable mutual community bank that serves the community rather than being subject to the pressures of stockholders. At that time, Stuart H. Taylor was elected president.
The Association began a period of unprecedented growth in 1977 when it opened its branch office at 886 Blue Lakes Boulevard North in Twin Falls. This occurred during James Sinclair’s time as president. When he retired in 1978, assets for First Federal had reached $121 million. Also in 1978, James W. Dodds was named president. During his tenure, branch offices were opened in Rupert (1978), Buhl (1982), and the Magic Valley Mall (1986). At Mr. Dodds’ retirement, assets totaled $246 million. In January of 1987 Richard L. Allen became the Association’s president. He held that position until his untimely passing in November of 1998. Assets at that time totaled $220 million. His successor was C. Alan Horner, who remained President until his retirement in 2017, at which time Jason A. Meyerhoeffer became President and CEO. The total assets for First Federal Bank at this transition totaled $600 million. Jason A. Meyerhoeffer remains the current President and CEO.
In 2003, First Federal established the First Federal Foundation. The mission of the Foundation is to serve the needs of local communities by actively seeking opportunities to support educational, civic, health, human services, social, and cultural organizations. Twice a year, the Foundation accepts applications and awards grants to worthy recipients. To date, the First Federal Foundation has awarded more than $1.3 million towards various community-improvement causes and initiatives.
At present, First Federal Bank is staffed with over 250 employees and thirteen branches: five in Twin Falls, one in Jerome, two in Burley, one in Rupert, one in Buhl, one in Kimberly, and two in Meridian, as well as an Operations Center and a Corporate office. Our assets today total over $1.3 billion and we are proud to be Idaho's community bank of choice.
