President's Message

Alan Horner

C. Alan Horner
President/CEO/Chairman of the Board
First Federal Savings Bank of Twin Falls

Community banking is alive and thriving here at First Federal. For over one-hundred years we have built relationships, earned the trust of our customers, and contributed to the communities we serve. Our mission statement, "Enhance the well-being of our customers by providing solutions to their financial needs," reflects this in every decision made at First Federal. Decisions are made with our customer in mind.

Last year, First Federal celebrated our centennial by gifting a unique park to the Magic Valley. This universally accessible park, enabling children and adults with all abilities and challenges to play together, is the first of its kind in south-central Idaho. We have been amazed and humbled with the community response to the park. First Federal received the Independent Community Bankers of America (ICBA) 2015 Grand National Bank Service Award for this exceptional gift to the community.

Also in 2015, First Federal expanded into the Treasure Valley, where our reputation for high performance preceded us. We teamed up with a dynamic group of real estate professionals and opened a Lending Office in Meridian. Our team has a combined one-hundred plus years of experience and fits the First Federal culture to a T. This expansion was very strategic and timely and has exceeded our expectations.

Our financial performance was strong in 2015, and we are financially well positioned to take our game to the next level. First Federal continues to exceed all regulatory ratios expectations. We have accomplished this with our high performing staff, Board, and Management Team setting high expectations. This strong base allows us to continue growing for the betterment of the communities we serve.

As the only mutual bank in Idaho, we are committed to our communities. First Federal is unlike other banks in that we do not have stockholders. Our mutual charter allows First Federal to adapt and add innovations to meet our customers’ changing needs.

The government does not waive taxes for mutual banks, as they do for some of our competition. First Federal is proud to pay our fair share of taxes to support schools, roads, water, sewer, police and fire protection, rather than increase the tax burden of our customers.

First Federal employees are engaged in a wide variety of civic activities from PTO, to Paint Magic and Relay for Life, to civic clubs and local Chamber of Commerce. You are likely to find First Federal represented at every civic event in some capacity, whether it be volunteering, sponsoring, or fundraising. Our employees and Directors are engaged in their communities. We know our customers, and we care.

Without stockholders, we are free from the oversight of financial analysts who expect higher earnings every quarter. Mutual banks, such as First Federal, are more conservatively managed and do not take on high risks for high yields. This makes First Federal strong and stable, and allowed us to survive the recent economic downturn without government subsidy or under regulatory agreement. We have to be able to respond quickly and be flexible during volatile financial times. Our customers depend on us, and we intend to serve the markets of Idaho for another hundred years.

I recall a passage from Alice in Wonderland where Alice asked the Cheshire Cat for directions.

"Would you tell me, please, which way I go from here?"

"That depends a good deal on where you want to get to," said the Cat.

"I don't care much where –," said Alice.

"Then it doesn't matter which way you go," said the Cat.

"– so long as I get SOMEWHERE," Alice added as an explanation.

"Oh, you're sure to do that," said the Cat, "if you only walk long enough."

First Federal cannot be like Alice – We have a plan. We take a long-term view, aligning with the citizens and governing bodies of the communities we serve. This strategy has made us strong and given us the endurance and stability to survive over one-hundred years.

As an employer, First Federal's culture is one of innovation, hard work, and a commitment to giving. Last year, we hired a compensation consultant to restructure our compensation plan to ensure it is fair and equitable. We wish to keep and attract top-flight employees and continue to be an employer of choice in our markets.

First Federal would not be here today if not for the support of our customers, employees, and the communities we serve. We do not take that support for granted and work to earn it every day. We thank you, and invite you to see us for all your banking needs.

Come experience banking the First Federal way. You will not be disappointed.


C. Alan Horner

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