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First Federal Savings and Loan Association


The first meeting of the share subscribers of First Federal Savings and Loan Association was held on April 24, 1934. Seventeen individuals raised a total of $5,000 to launch the Johnson City bank in the depths of the Great Depression. The bank’s first president was L. A. Ballew with the first bank office opening in the John Sevier Hotel. Rebecca A. Rogers was the sole female original director. She became the association’s secretary-treasurer in 1935 and remained with the bank until her retirement. In 1950, retired ETSU President Dr. C. C. Sherrod became president, serving until 1963. In August 1951, the bank moved its’ offices from the hotel to a building at the corner of Roan and Market Streets until it built a new bank building on West King Street in 1959, where it remained headquartered. A branch bank was opened in North Johnson City in May 1965 with additional branches later being opened in Kingsport and Greeneville, Tenn. On June 1, 1982, it was acquired by Memphis-based Leader Federal, and its’ name was changed.

Found in 1 Collection or Record:

First Federal Savings and Loan Association Records

 Collection — Multiple Containers
Identifier: 500-AppMs 562
Arrangement The collection is arranged in one series of administrative subject files alphabetically by subject or report title. Oversized materials are housed in an oversized folder filed in the map cabinets by accession number.