Tellers helping customers at First Federal's bank in downtown Sheridan, Wyoming in the 1970s.

Our Story

Banking without shareholders. Just shared values.

Since 1935, we’ve been a mutual, community bank. That means we don't pay stockholders; we pay our communities. By banking with First Federal, you help us invest in the places we call home. Because together, we're the mutual difference.


First Federal’s financial soundness allows us to be a strong partner in ensuring the stability and growth of our community.

  • Since 1935, First Federal has been guided by sound banking principles that have led to protecting our clients’ money and lending to businesses and consumers responsibly.
  • We invest in our community through significant financial donations and our employees’ volunteer efforts.
  • Home ownership is vital to the stability of any community, and First Federal has helped thousands of clients buy and stay in their homes.
Banking doesn’t have to be complicated.

  • Our commitment to new technologies allows our clients to bank when, where and how they want – simply, safely and securely. We’ve introduced innovative services such as mobile banking and remote deposit, allowing clients the convenience of banking on any device, and the 24/7 availability of our Smart ATM.
  • Our redesigned website, efirstfederal.bank, provides an easy way to access all our products and services, including home and business loans.
Our clients can rely on our people to give them sound advice and guidance to help them meet their financial goals.

  • Every day, our knowledgeable people help clients save and manage their money and to borrow smart.
  • Our team concept ensures that we’re committed to connecting each client with the right people and resources to meet their unique needs.
  • Businesses can expect more business banking expertise, more help in securing loans, leases and lines of credit and managing cash to improve their cash flow.
While we embrace new technologies, we recognize that our real value lies with our people and their personal relationships of trust and integrity. There is no such thing as a one-size-fits-all banking solution so our people work to understand our clients’ needs.

  • Our focus on the client is one of our core values. It’s the way we’ve always done things and we think it’s the only way to succeed.
  • We provide exceptional client service and we’ll continue to find ways to improve our service.
  • We listen to the needs of our clients and do everything we can to earn and keep their business and trust.
  • Our drive is to make each client more successful because we understand that our success is dependent upon their success.
  • HONESTY & INTEGRITY above all else
  • TRUST & RESPECT built on fairness
  • RESPONSIBILITY to use our resources for the greater good
  • EXCELLENCE through lifelong learning, accountability, hard work and continuous improvement
  • POSITIVE, CAN-DO ATTITUDE to support team morale and provide exceptional internal and external customer service
  • RESILIENCE to learn from our challenges and bounce back from adversity
  • TEAMWORK to accomplish so much more than we can individually
  • COURAGE & KINDNESS to do the right things while being considerate to others
  • OPEN, HONEST COMMUNICATIONS to make it all happen





Highlights Through the Years

1930s black and white photo of First Federal Founders standing next to original bank. Newspaper article about formal bank opening on Saturday, Oct. 1, 1938. Bank tellers at our 1976 Grand Reopening of the Downtown location in Sheridan, WY. 2020 ICBA Best Community Banks to Work For article about First Federal. Exterior of the Billings full-service branch in 2023. 2025 succession announcement. DJ Dearcorn is taking over as President after Kevin Bailey.
 
Group of five First Federal team members helping at the Billings Education Foundation.
Community Commitment

Investing in our communities since 1935.