Our History
In 1935 First Federal Savings & Loan was founded with only $2,635 in assets and has grown to over $105 million today. First Federal Savings & Loan Association of Bath, Maine is a federally chartered mutual institution founded in 1935 by local community and business leaders.
From its modest beginnings, First Federal Savings & Loan (FFSL) has prospered over the last seventy years into an institution with a respected position in its two-county market area. Lincoln and Sagadahoc counties are located in the mid-coast area of Maine and enjoy many miles of shore line.
Our mission is to provide a high level of customer satisfaction by offering a number of products and services in a friendly and relaxed environment. From current interest rates to product information, you'll find everything you need here, at your convenience.
Bank Officers
| President & CEO | Andrew C. Perry |
| Senior Vice President | Deanne L. Morong |
| Senior Vice President | Timothy H. Burnham |
| Vice President | Judith H. Marshall |
| Vice President | Brenda L. Scherer |
| Vice President | David Platteter |
| Asst. Vice President | Rebecca E. Brawn |
| Treasurer | Lauri I. Karney |
| Asst. Treasurer | Monica L. Hynes |
| Secretary | Lynn C. Jennison |
Board Members
| Chairman | Daniel R. Donovan | Retired President & CEO - First Federal Savings |
| Vice Chairman | Betty Jane Simpson | Retired Vice President - First Federal Savings Current Owner - Simpson Seafood |
| Donald E. Hill | Retired Funeral Director - Mayo, Curtis & Hill | |
| Andrew C. Perry | Current President & CEO - First Federal Savings | |
| William E. Reed | Owner - Bert's Oil Service and Bath Bus Service | |
| Eric R. Allen | Owner - Bath Printing Co. | |
| Thomas A. Berry | Attorney - Boothbay Harbor | |
| John G. Desjardins | Owner/Pharmacist Wilson's Drug Store | |
| Emeritus | Linwood Palmer | Retired Local Tree Farmer |
Statement of Condition as of June 30, 2007
ASSETS |
|
| Mortgage Loans (Residential) | $68,796,316.00 |
| Mortgage Loans (Other) | $25,400,958.00 |
| Cash and Investments | $7,153,733.00 |
| Fixed Assets, Less Depreciation | $ 1,677,549.00 |
| Other Assets | $1,162,694.00 |
Total Assets |
$104,191,250.00 |
LIABILITIES |
|
| Regular Savings | $17,133,311.00 |
| NOW Checking | $20,014,716.00 |
| Money Market | $10,134,809.00 |
| Certificates | $32,360,800.00 |
| FHLB Advances | $6,000,000.00 |
| Other Liabilities | $1,627,584.00 |
| General Reserves | $16,920,030.00 |
Total Liabilities |
$104,191,250.00 |
Our Communities
First Federal Savings has been a constant in the community since 1935 and our commitment to the community has remained our number one priority. Below are a few community links that we thought might be of some interest.
Chocolate Church Center for the Arts
Maine Maritime Museum
Main Street BathRound Top Center for the Arts
Central Lincoln YMCA
Damariscotta Region Chamber of CommerceBoothbay Harbor Opera House
Boothbay Harbor Chamber of Commerce
Boothbay Region Land Trust
State of Maine Dept of Marine Resources (Aquarium)
EQUAL HOUSING LENDER
MEMBER FDIC