In 1931, author James Truslow Adams coined the term “the American dream” in his book, The American Epic. Just three years later after its release, amidst the Great Depression, Samuel A. Green decided to take his chances during one of the United States’ most trying, economical times.
Born and raised in a Hungarian farm town, Green came to America in 1905 and helped his family by selling shoes, insurance, and real estate. It wasn’t until Green’s friend voiced concerns about obtaining a home loan that he decided to make the shift to banking. In 1934, he opened First Federal Savings and Loan Association of Philadelphia—renamed to Firstrust Bank in the ‘80s—in South Philadelphia.
“It was very difficult, if not impossible, for ordinary citizens to get home mortgage loans. My grandfather recognized this need,” said Richard J. Green, current Firstrust Chairman and CEO, and grandson of Green. “In his mother’s South Philadelphia kitchen […] Samuel A. Green founded the bank on fundamental values of integrity, liability and a passion to serve our customers.”
Now, over 85 years later, Firstrust is the largest family-owned commercial bank in the region, serving as Philly’s Hometown Bank.