When Patrick O’Brien joined First Federal Savings Bank in 2005 as COO, he began the transformation of the company by employing the plan of the Six P’s: people, products, processes, places, productivity and profitability. Under O’Brien’s leadership, First Federal invested in a talented team to create products that would rival competitors and attract customers.
With the new team, First Federal improved the efficiency of its processes and successfully opened two new locations. The combination of these investments led to increased productivity and, of course, profitability. In the fall of 2010, O’Brien took First Federal public at a time when the financial crisis was at its peak and the public opinion of banks was extremely negative.
As the company’s president and CEO at the time, O’Brien was a fresh face and the community trusted First Federal and its new plan. In order to cultivate positive relationships with the community, O’Brien uses a positive environment within the company and all problems are solved with a team effort and the entire management team meets quarterly to discuss ideas.
O’Brien works to improve the lives of customers by pursuing the community banking model. When First Federal was presented the option to underwrite a $7.5 million loan for the construction of a new manufacturing plant, O’Brien took advantage of the opportunity. First Federal recruited five banks to complete financing for the plant and succeeded in bringing 70 new jobs to the area.
First Federal has continued to follow this plan, and is currently leading a $21 million construction loan to bring dozens of jobs to the central Washington County area. By transforming the community’s attitude towards banks, and making his company a trusted community resource, O’Brien has proven himself as a great leader for First Federal.
How to Reach: First Federal Savings Bank, (724) 684-6800 or www.firstfederal-savings.com