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 sale of stock. On January 7, 1916, the first stockholder's 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 by-laws 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. That year it also 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's name was changed to First Federal Savings and Loan Association of Twin Falls. At that time, Stuart H. Taylor was elected president.

In 1977, First Federal opened its second branch office at 886 Blue Lakes Boulevard in Twin Falls. This occurred during James Sinclair's time as president. When he retired in 1978, assets for First Federal had reached $121,786,000. 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 were $221 million. In January of 1987, Richard L. Allen became the Association's president. He held that position until his untimely passing of complications stemming from chronic leukemia in November of 1998. His successor was C. Alan Horner, who remains the active president.

At present, First Federal is fully staffed with over 195 employees and ten branches; four in Twin Falls, one in Jerome, two in Burley, one in Rupert, one in Buhl, and one in Kimberly, as well as an Operations Center, Loan Operations Center, Administrative Services Center, and an Internal Support Center. Our assets today total over $445,000,000 and we are proud to be the leading mortgage lender in the Valley.

From First Federal's Financial Statement of June 30, 1925 comes a message that describes the principles upon which the Association was formed and the underlying mission that still guides its management:

"A mutual cooperative financial institution where all members share the same privileges, work together to save money, acquire homes, and help build up the communities in which we live."

At First Federal, 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 Valley.