Friday, February 26th, 2021

Steve Zahn to retire as First Federal CEO

Posted: Wednesday, December 8, 2010

Steve Zahn, chairman and CEO of First Federal Savings Bank and Northeast Indiana Bancorp, will be retiring as CEO after a 46-year career in the banking industry effective December 31. He will remain chairman of the company while his son Michael Zahn will become CEO.

The Zahn family has been in the banking business in the Huntington community for more than 50 years when William Zahn, Steve’s father and local dry cleaner, became a member of the board of directors for Peoples Savings and Loan in Huntington in 1957. William went on to become a bank employee and eventually became president in 1963. Steve graduated from Marquette University with a bachelor’s degree in business administration and joined the company in 1964, handling the insurance agency that was part of the business at the time.

The bank’s name changed from Peoples Savings & Loan to First Federal Savings & Loan in 1966 and Steve Zahn became president in 1980. Michael Zahn, Steve’s son, joined the company in 1996 and became president in 2005. First Federal currently has three branches in Huntington, a branch in Warsaw, and one in Fort Wayne. An investment division known as Innovative Financial Services is located at the Frontage Road branch in Huntington.

Steve has also devoted his time and efforts to professional and community organizations and has served on boards of the Indiana Bankers Association, American’s Community Bankers and Federal Home Loan of Indianapolis. He is also past chairman of the Indiana League of Savings Associations and has worked on committees for the FDIC and American Bankers Association.

Fourteen non-profit organizations in Huntington have benefited from his leadership where he has served as president or chairman. Steve additionally has been a member of several other boards and was given the Huntington University Distinguished Service Award. He was also named Chief of the Flint Springs Tribe in recognition of his community service.

Steve currently serves the Peabody Retirement Community as board president; is a member of the boards of the Huntington County Community Foundation, YMCA Foundation, and Huntington University Foundation. He has been married to wife Alyce for 46 years, is the father of four, and grandfather of 11.

An open house will be held in honor of Steve’s service to the bank and the community, and his retirement on Friday, December 17 from 11 a.m. to 4 p.m. at the downtown branch of First Federal at 648 N. Jefferson Street.