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.


Organizational Pillars

Our staff are the greatest strength of the bank. We value each individual and are committed to fostering a rewarding, inclusive work environment built on respect, inspiration, and belonging.
 
  • We provide tools, training, and opportunities for both professional and personal growth.
  • We recognize that every role, individual, and situation is unique, and remain committed to treating everyone with fairness and dignity.
  • Our culture promotes collaboration and shared success, grounded in kindness, empathy, mutual respect, transparent communication and accountability.
  • We strive to ensure every team member feels empowered, supported, and engaged in driving our collective purpose forward.
By investing in our people, we cultivate a strong, resilient, and high-performing team.
We are committed to building strong, lasting relationships by consistently exceeding expectations and supporting our customers in reaching their financial goals.
 
  • Deliver service excellence with a focus on competitive, value-driven results.
  • Provide smart, realistic solutions that prioritize customer needs and long-term success.
  • Act with consistency, reliability, and accountability in every interaction.
  • Communicate with honesty, transparency, and integrity.
By putting our customers first and delivering meaningful, results-oriented service, we build trust and deliver lasting value.
We are committed to being active, responsible citizens who contribute to the long-term development and enhancement of our communities.
 
  • We invest our time, talents, and resources to create meaningful, lasting impact.
  • We support the greater good by promoting shared well-being and inclusive growth.
  • We stay involved and committed, working together to help shape a stronger, better future for all.
By living these values, we build connections that extend beyond our walls and contribute to thriving communities.
We are committed to maintaining the long-term financial health of our institution through disciplined, transparent, and responsible management.
 
  • We remain steadfast in achieving financial viability through sound fiscal and operational practices.
  • We embrace compliance and audit functions as vital to our strength, stability, and integrity.
  • We continuously evaluate and enhance our systems to ensure ongoing financial soundness and long-term success.
By upholding these principles, we protect our institution’s future and earn the trust of those we serve.
 
 





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 First Federal employees with members of CHAPS Equine Assisted Services.
Community Commitment

Investing in our communities since 1935.