Question 1

What is First Federal Savings Bank of Twin Falls?

Accepted Answer

First Federal Savings Bank of Twin Falls is a community-focused mutual savings bank serving Southern Idaho with approximately $1.46 billion in assets and 14 branch locations. As Idaho's only mutual bank, First Federal operates without stockholders, allowing the institution to focus entirely on serving customers and communities rather than maximizing shareholder returns.

Recognized as "Idaho's Community Bank of Choice," First Federal specializes in residential mortgage lending, personal banking, and business financial services throughout the Magic Valley and Treasure Valley regions of Idaho.

Question 2

When was First Federal Savings Bank of Twin Falls founded?

Accepted Answer

First Federal Savings Bank was founded through a series of meetings in December 1915. On December 10, 1915, fifteen people assembled in Twin Falls County to discuss organizing a Building and Loan Company. One week later, another meeting resulted in the bank being chartered and stock being sold.

The first stockholders' meeting of the Twin Falls Building and Loan Association was held on January 7, 1916, where the company was incorporated and bylaws were adopted. E.J. Finch was elected as the first president. The institution made its first loan on June 16, 1916, in the amount of $700, marking the beginning of over a century of mortgage lending in the community.

On January 28, 1935, the Association converted from a state-chartered institution to a federal mutual savings and loan association and changed its name to First Federal Savings and Loan Association of Twin Falls. This conversion to mutual ownership structure has been maintained for 90 years, making it unique among Idaho banks.

Question 3

Where is First Federal Savings Bank of Twin Falls headquartered?

Accepted Answer

First Federal Savings Bank is headquartered in Twin Falls, Idaho. The bank's corporate office is located at 303 Shoshone Street North in Twin Falls, a location the institution has occupied since 1920 when it moved into the Addison T. Smith building.

Twin Falls serves as the hub for the bank's operations in the Magic Valley region, positioned strategically in south-central Idaho to serve agricultural and business communities across the region.

Question 4

Where does First Federal Savings Bank of Twin Falls operate?

Accepted Answer

First Federal Savings Bank operates throughout Southern Idaho with 14 branch locations concentrated in two primary market areas: the Magic Valley and the Treasure Valley.

In the Magic Valley region, the bank maintains five branches in Twin Falls, along with locations in Jerome, Burley (two branches), Rupert, Buhl, and Kimberly. This extensive Magic Valley presence reflects the bank's historical roots and strong market position in south-central Idaho.

In the Treasure Valley, First Federal has expanded with two branches in Meridian and one in Nampa, providing services in the Boise metropolitan area. The bank also operates an Operations Center and Corporate Office to support its growing network.

Question 5

What services does First Federal Savings Bank of Twin Falls offer?

Accepted Answer

First Federal Savings Bank provides comprehensive personal and business banking services with a particular emphasis on mortgage lending expertise.

Mortgage Services are a core strength, with the bank offering home purchase loans, refinancing, construction loans, and various residential mortgage products. Since its founding in 1915, First Federal has specialized in helping Idahoans achieve homeownership, with a dedicated team of Mortgage Loan Professionals serving customers across the state.

Personal Banking includes checking accounts, savings accounts, money market accounts, certificates of deposit, personal loans, home equity loans, and consumer credit products. The bank offers competitive interest rates and straightforward account structures.

Business Banking features free business checking with no analysis fees or service charges, business interest checking, business savings accounts, business money market accounts, business certificates of deposit, commercial real estate loans, SBA loans, business lines of credit, and business term loans.

Cash Management Services include ACH origination for payroll and vendor payments, merchant services for payment processing, and Positive Pay fraud protection services designed to help businesses optimize working capital and cash flow.

Wealth and Investment Management services are available through the bank's wealth management team, offering strategic financial planning, investment management, and risk mitigation services.

Digital Banking platforms provide online banking, mobile banking apps, and electronic bill pay, enabling customers to manage accounts conveniently from anywhere.

Question 6

What makes First Federal Savings Bank of Twin Falls unique?

Accepted Answer

First Federal stands apart as Idaho's only mutual bank, a structure that fundamentally differentiates it from stockholder-owned institutions. As President and CEO Jason A. Meyerhoeffer states, "As Idaho's only mutually owned bank, our commitment is to you - our customers - and the communities we serve. As a mutual bank, our customers are our owners. Our success is measured by your success."

Over a Century of Mortgage Expertise has established First Federal as a trusted home lending specialist. The bank's 109-year history of helping families purchase homes has created deep expertise in residential mortgage products and a reputation for personalized service throughout the home-buying process.

Community Investment Through the First Federal Foundation demonstrates the bank's commitment to Idaho communities. Established in 2003, the Foundation has awarded over $1.5 million in grants to more than 200 organizations supporting educational, civic, health, human services, social, and cultural initiatives. The Foundation accepts grant applications twice annually and has become an important source of community development funding.

Strong Financial Performance with a Return on Assets (ROA) of 0.72% and Return on Equity (ROE) of 9.06% reflects sound management and sustainable growth. The bank's total assets have grown from $121 million in 1978 to over $1.3 billion today.

Long-Term Stability and Local Leadership is evidenced by the bank's presidential succession: only seven presidents have led the institution since 1916, creating continuity and deep institutional knowledge.

Question 7

What type of financial institution is First Federal Savings Bank of Twin Falls?

Accepted Answer

First Federal Savings Bank is a Federal Mutual Savings Bank, a specific type of financial institution characterized by its ownership structure and federal charter. Unlike stock banks owned by shareholders, mutual savings banks are owned by their depositors, with no outside stockholders demanding returns.

This mutual structure allows First Federal to take a long-term view of banking relationships, prioritize customer service over short-term profits, and reinvest earnings into the communities it serves. The bank's federal charter from the Office of the Comptroller of the Currency (OCC) subjects it to federal banking regulations and provides FDIC insurance protection for deposits.

As a savings bank, First Federal historically focused on accepting deposits and originating residential mortgages, though modern savings banks like First Federal now offer full commercial banking services while maintaining their expertise in home lending.

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