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Leonard Petroleum Equipment: Banking on Local Relationships

03/13/2025

By: Chad Biggs, Red Sky

Leonard Petroleum Equipment: Banking on Local Relationships

 

After three decades with Leonard Petroleum Equipment, President Mike Hodge knows the value of strong local partnerships. His Twin Falls-based company provides equipment, construction services, and supplies to gas stations, convenience stores, trucking companies, and agricultural businesses throughout Southern Idaho.

Five years ago, Leonard Petroleum switched from a national bank to First Federal, seeking more personalized support. "On the local level, First Federal provides incredibly good support," Mike explains. "We can call and talk to somebody immediately when issues arise with ACHs and wire transfers."

Mike particularly values how First Federal respects his entire team. "At our previous bank, our accounts payable department couldn't speak with anyone without a partner on the phone. First Federal knows and respects our staff, which is essential for day-to-day operations."

Security features like dual authorization for financial transactions provide peace of mind, while high-interest savings accounts offer flexibility for managing cash flow between projects. "We can transfer funds within five minutes from account to account," Mike notes.

What truly distinguishes First Federal is the relationship. "We're on a friendship level with them. They know us by first name, we know them by first name. It's not just banking—they're asking how the kids are doing and what we're doing that weekend."

For Mike, First Federal represents community. "You see First Federal all over the Magic Valley and now in the Treasure Valley. They support so many different programs—all the activities where our employees' children participate."


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