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First Federal Savings Bank (31516)


TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
4.00%
Our Rating
4.2  / 5
CIT Bank
Platinum Savings
See Offer
Sponsored Note: Earn more with a min. balance of $5K. Savings starts at $100. FDIC Insured.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.80%
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: +0.20% boost to 4.00% for up to 6 months on new accounts with eligible direct deposit. Terms apply.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.60%
Our Rating
4.3  / 5
American Express
American Express® High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.50%
Our Rating
4.4  / 5
Capital One
360 Performance Savings
See Offer
Sponsored Note: It only takes about 5 minutes to open a fee-free account. Member FDIC.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
4.44%
Our Rating
4.3  / 5
Peak Bank
Envision High Yield Savings
See Offer
Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.
Member FDIC
Bonus Amount
up to $300
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Overview / Commentary
www.firstfederalbanking.com
574-223-2128
301 East 9th Street
Rochester, IN 46975

First Federal Savings Bank (31516) is headquartered in ROCHESTER and is the 33rd largest bank in the state of Indiana. It is also the 1,511th largest bank in the nation. It was established in 1965 and as of March of 2025, it had grown to 123 employees at 6 locations. First Federal Savings Bank (31516)'s CD rates are 4X the national average, and it has a B+ health rating.

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Health
B+

Data as of Q1 2025

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #31516
Year Established1965
Employees123
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.82%
Return on Equity - YTD9.19%
Annual Interest Income$8MM
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$629.1MM$646.9MM
LoansQ1 2025vs Q1 2024$535.3MM$539.7MM
DepositsQ1 2025vs Q1 2024$502.4MM$521.3MM
Equity CapitalQ1 2025vs Q1 2024$58MM$54.3MM
Loan Loss AllowanceQ1 2025vs Q1 2024$5.8MM$6MM
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$4.7MM$3.4MM
Real Estate OwnedQ1 2025vs Q1 2024$110K$199K
TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
4.00%
Our Rating
4.2  / 5
CIT Bank
Platinum Savings
See Offer
Sponsored Note: Earn more with a min. balance of $5K. Savings starts at $100. FDIC Insured.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.80%
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: +0.20% boost to 4.00% for up to 6 months on new accounts with eligible direct deposit. Terms apply.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.60%
Our Rating
4.3  / 5
American Express
American Express® High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
3.50%
Our Rating
4.4  / 5
Capital One
360 Performance Savings
See Offer
Sponsored Note: It only takes about 5 minutes to open a fee-free account. Member FDIC.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/13/2025
4.44%
Our Rating
4.3  / 5
Peak Bank
Envision High Yield Savings
See Offer
Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.
Member FDIC
Bonus Amount
up to $300
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Federal Savings Bank (31516) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.03%$0-Christmas Club Account
0.03%$0-Simply Business Savings Account
0.03%$0-Simply Savings Account

First Federal Savings Bank (31516) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$50k*-Money Market Account
OTHER TIERS: 0.05% → $0 - $10k | 0.08% → $10k - $25k | 0.12% → $25k - $50k

First Federal Savings Bank (31516) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%*$1.5k*-Preferred Interest Checking Account
OTHER TIERS: 0.01% → $0 - $1.5k
0.01%$0-Direct Interest Checking Account
0.01%$0-50+ Interest Checking Account
0.01%$0-Business Interest Checking Account
0.01%$0-Commercial Checking Account

First Federal Savings Bank (31516) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.02%$500-3 Month CD
4.01%$500-2 Year 2 Option CD
3.91%$500-6 Month CD
3.55%$500-12 Month CD
3.55%$500-18 Month Flexible CD
3.29%$500-36 Month CD
3.29%$500-48 Month CD
3.29%$500-60 Month CD
2.78%$5k$250k12 Month EZ Access CD

First Federal Savings Bank (31516) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.02%$500-3 Month IRA
3.91%$500-6 Month IRA
3.55%$500-12 Month IRA
3.29%$500-36 Month IRA
3.29%$500-48 Month IRA
3.29%$500-60 Month IRA
Locations


First Federal Savings Bank (31516) Locations
206 W Plymouth St Branch206 West Plymouth StreetBremen, IN 46506
2113 N Michigan Branch2113 North MichiganPlymouth, IN 46563
2926 South Main Branch2926 South MainElkhart, IN 46517
First Federal Savings Bank301 E 9th StRochester, IN 46975
814 U S 35 North Branch814 U.S. 35 NorthWinamac, IN 46996
Mishawaka Branch906 W Edison RoadMishawaka, IN 46545

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