First Fed

First Fed

Community bank offering personal, business lending

Overview

First Federal Community Bank serves Northeast Ohio as a community bank focused on individuals and small businesses. It offers personal checking and savings, mobile banking with deposits, e-statements and online bill pay, plus business services like remote deposit, ACH/payroll processing, credit card processing, cash management, and fraud tools. The bank funds its lending activities with home mortgages and commercial loans across eight locations and is insured by the FDIC with OCC and FDIC oversight. Its goal is to support local residents and businesses, reinvest in the communities, and contribute to regional economic vitality through localized service and community involvement.

About First Fed

Simplify's Rating
Why First Fed is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Financial Services

Company Size

11-50

Company Stage

N/A

Total Funding

N/A

Headquarters

Dover, Ohio

Founded

1898

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Simplify's Take

What believers are saying

  • March 31, 2026 earnings reached $11.6 million, with assets up 10.1% and loans up 11.2%.
  • Deposits rose 7.2% since June 30, 2025, signaling customer retention despite rate competition.
  • June 30, 2026 call data showed 12.74% CET1 and 0.08% nonperforming loans, supporting lending growth.

What critics are saying

  • Washington litigation from 3|5|2 Capital and Socotra threatens six-figure legal costs and reputational damage.
  • Northeast Ohio competition intensified after First Financial Bank's 2026 Westfield expansion and $104.8 million CRA commitments.
  • First Fed's small-market concentration in eight branches creates existential vulnerability if local commercial borrowers sour.

What makes First Fed unique

  • 1898 roots and eight Ohio branches anchor local trust in Tuscarawas, Holmes, and Stark.
  • Matthew A. Miller became CEO October 23, 2025 after long internal lending leadership.
  • March 31, 2026 results showed 1.75% ROA and 19.68% ROE, elite for community banks.

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Benefits

Health Insurance

Dental Insurance

Vision Insurance

Paid Vacation

401(k) Company Match

Company Equity

Gym Membership

Employee Discounts

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