First Federal Franklin St. Branch Office – 1950’s


The West Side Building Loan and Savings Association, later to become First Federal Savings Bank, is founded by a group of prominent westside businessmen under the leadership of the company’s first President, George W. Koch.


Construction begins on the West Franklin Street building and after over 100 years still serves as a First Federal branch office.


In the midst of the Great Depression, First Federal becomes the first Evansville thrift association to apply and be accepted for protection under the newly created Federal Savings and Loan Insurance Corporation.


First Federal joins Evansville’s expansion eastward, opening an office on Division Street at the newly completed Weinbach Center. The Weinbach Center office was the company’s first outside West Franklin Street.


Curtis Stinson becomes only the second President in First Federal history. He serves 13 years, and upon his death in 1974, is succeeded by his son, John F. Stinson.


Robert L. Clayton is elected as the fourth President and serves for 16 years. When Clayton was elected, First Federal assets had grown to $53.2 million. Upon Clayton’s retirement assets had more than doubled to $108.5 million.


First Federal Savings and Loan Association undergoes a name change, becoming, as it is currently known, First Federal Savings Bank.


Harold Duncan, assuming the title of President and CEO, oversees many changes, including formation of the Bank’s holding company, First Bancorp of Indiana, Inc. and the conversion to a publicly traded stock.


Three new branch offices open giving First Federal seven locations, with total assets having reached $175.6 million.


Harold Duncan retires, Michael Head assumes the title of President and CEO, and First Federal Savings Bank celebrates 100 years of service to the people of Evansville and southwestern Indiana.


In November, the St. Philip branch office was opened to serve the far westside Evansville residents and customers. This branch, at the time of opening, was the only banking center in the immediate area.


First Federal headquarters is moved from the westside of Evansville to the eastside at 5001 Davis Lant Dr. This move enabled the consolidation of all department operations to one central location. In October, the acquisition of Home Building Savings Bank was completed. This acquisition provided First Federal a presence in Washington and Petersburg. In November an ATM was placed on the campus of Ivy Tech Community College in Evansville to provide students and faculty with cash access.


In January, the Division St. branch office was closed. An offsite ATM is still maintained due to the high volume of ATM traffic.