irst Federal traces its history back to 1922 when a local group of civic minded business and professional men founded Palatka Building and Loan Association.

With the passing of the Home Owners Act of 1933, which created specialized thrift and home ownership institutions called federal savings and loan associations, the charter was amended to a federal charter on February 23, 1934. The name was then changed to Palatka Federal Savings and Loan Association.

In 1973, the name was changed to First Federal Savings and Loan Association of Putnam County to conform to the larger geographical area being served when the association embarked on an expansion program.

In 1999, the name was again changed to reflect the expanded service area of the organization. The new name of First Federal Bank of North Florida was chosen to coincide with the approval of a branch application for St. Augustine, Florida and the addition of many new services and products, previously limited only to a commercial bank. Even though the name has changed, the Association charter remains a thrift charter.

The main office, located at 511 St. Johns Avenue in Palatka, Florida, has experienced many renovations and expansions to accommodate the spectacular growth by the Association, the most recent being 1976, which increased the office and parking to cover almost a city block.

In June 1973, a branch office was opened in Crescent City. In 1975, a new branch opened in Interlachen, and in August 1978 a branch was opened on the west side of Palatka and is now located at the northeast corner of State Road 19 and St. Johns Avenue. A St. Augustine facility opened in March of 1999, and another at St. Augustine Beach in November of 2000.  In June of 2005, an office was opened in Hastings.  Most recently, an office was opened in Welaka.