General Info:
On September 28, 1934, a group of Frankfort businessmen formed the Greater Frankfort Building and Loan Association. They adopted a charter and by-laws and elected nine men to serve as directors. Their actions were later validated by the state banking commissioner and they received a state charter. Among these nine directors were some of Frankfort's leading businessmen, including several business owners, a judge, and a former mayor. Lambert U. Suppinger, co-founder of Frankfort Lumber Company, was elected from this group to serve as President of the association. H. K. Rogers of the Sanitary Laundry Company was elected Vice President and Carl A. Kagin of Kagin Insurance was elected as Secretary-Treasurer. At a very early board meeting on December 6, 1934, they reported cash holdings of $3,356.60 and approved their first home loan to I.A. and Elizabeth Kennady on property located on the east side of Arlington Avenue in Frankfort. At that time, the board set a cap on home loans not to exceed $2,000 and approved a salary of $25 per month for Mr. Kagin. In the late 1960s, First Federal recognized the need for a quicker, more convenient way to serve its customers. Downtown Frankfort was often congested and parking was too scarce for convenient access to the downtown office. First Federal built its first branch at 190 Versailles Road on the east side of town. The East Frankfort Branch opened on October 21, 1971. First Federal was anxious to offer similar services to the west side of town, and it opened a West Frankfort Branch on U. S. 127 South, August 26, 1975. By the mid-1980s, both locations featured Automatic Teller Machines. First Federal’s main office had been located on the Kentucky River's east bank for 44 years, but a lack of parking and occasional flooding had at times hampered First Federal's ability to serve its customers. In 1988, First Federal purchased the building at 216 West Main Street for use as its main office. This building had housed the Farmers Bank from 1855 to 1971, and was then occupied by the Kentucky Teachers Retirement System from 1971 to 1988. The building is constructed of Kentucky River limestone with gray limestone trimming and raised joints. The contractor was John Haly who had previously built Frankfort's Capitol Hotel of the same material. This building is featured in the well-known painting by Frankfort’s Paul Sawyier, "Rainy Day in Frankfort." The structure appears very much as it did in 1855. Additions have been made from time to time, but each retained the original style. To accommodate First Federal, a major renovation was undertaken, but the style and much of the woodwork, marble, and brass are original. As mentioned, William C. and Joyce Jennings retired from daily operations in 1998. At the time of their retirement, Danny Garland, who had joined the Bank in 1975 and was made a Vice President in 1980, was selected to serve as President of the Bank. Mr. Garland retired in 2007. On December 31, 2012, Kentucky First Federal merged with Central Kentucky Federal and their offices were merged into First Federal. The bank now has six offices serving Franklin, Boyle, and Garrard counties. Current officers working in the Frankfort offices include President and Chief Executive Officer Don Jennings, Frankfort Area President R. Clay Hulette, Executive Vice President Teresa Hulette, and Vice Presidents Stan Betsworth, Stacey Greenawalt and Kim Moore