First Shore Federal Savings & Loan Association

• Private
• US

Dow Jones Description

First Shore Federal was founded in 1953 by a group of prominent local businessmen. Its purpose was to provide a source of funds for home mortgages in the Salisbury area while offering a good dividend and federal deposit insurance for local savings customers. The association ended its first partial year of operation with assets of $174,420.90. With eight offices across the Lower Eastern Shore, First Shore Federal continues to provide consumer-banking services to the people of Delmarva's Lower Shore. The association opened its present headquarters at 106 South Division Street, Salisbury in 1964. Additional branch locations opened at Civic Avenue, Salisbury, in 1974, Pocomoke City, in 1977, Snow Hill and Berlin in 1987, Ocean Pines in 1996, Fruitland in 2001 and its first Delaware branch opened in 2003 in Ocean View. The Berlin branch moved to 310 Franklin Avenue in 2006. As of December 31, 2007, First Shore Federal had assets of $298,959,170, loans of $238,902,195, federally insured savings deposits of $252,641,679 and a strong capital position of $30,433,510 or 10.17% of assets, more than twice the level required by federal regulations. The association has a reputation as a strong, well-capitalized thrift having earned a "five-star institution" rating from Bauer Financial Reports, an independent financial analyst for more than ten consecutive years. ...

President, CEO

Number of Employees 75

Contact Information

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