FDIC-Insured - Backed by the full faith and credit of the U.S. Government
About Us
History
In 1889, a small group of local businessmen formed Valley Building and Loan to assist in the growth of home ownership for families in Ottawa. They pooled their money together and made loans to families to buy or build homes.
In 1989, the bank changed our name to First Federal Savings Bank, a name that reflected all the products and services we could then offer.
First Federal Savings Bank now has locations across northern Illinois. While we remain true to our roots of mutuality and promoting home ownership, we have grown and evolved to serve retail and business customers with their deposit and borrowing needs. First Fed Insurance Agency provides another range of products that meet the needs of our customers.
Management and the board are committed to being a trusted provider of personalized financial services that help our customers Manage, Save, Invest, and Protect their assets.
Mutuality – locally managed, depositor owned – remains an important part of our identity and core values.
The Bank is managed by its Board of Directors and its Officers:
Board of Directors:
Laurence E. Bartman
George A. Cary
Tony K. Kensinger
Konni Rodeghier
Michael J. Schmidt
Dena M. Weber
James F. Wright
Officers
Konni Rodeghier, President & CEO
Dena M. Weber, SVP, Chief Operating Officer
Leann R. Whitney, SVP, Chief Information Officer
Tracy A. Ritko, SVP, Chief Financial Officer
Tracy Tunnell, SVP, Chief Retail Lending Officer
What is a Mutual Savings Bank?
Who owns the Bank?
The depositors are the owners of the Bank.
Do depositors have voting rights?
Depositors have voting rights, however, in most cases a depositor signs a proxy allowing the Board of Directors to vote for them.
Does the Bank have stockholders?
No. As a mutual institution, the Bank has no stockholders.
What government agency regulates the Bank?
The Office of the Comptroller of the Currency is the Bank's primary regulator. The Bank is also subject to certain regulations of the Federal Deposit Insurance Corporation.
Are my deposits insured?
Yes. The basic insured amount of a depositor is $250,000. Deposits maintained in different categories of legal ownership are separately insured. It is possible to have more than $250,000 insurance coverage in a single institution.
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First Fed-Savings Bank|Insurance Agency is the marketing logo for First Federal Savings Bank and its wholly owned subsidiary First Fed Insurance Agency, Inc.
