In the News

First Federal Lakewood, the largest mutual bank headquartered in Ohio, today announces a definitive merger agreement to acquire First Federal Savings & Loan Association of Centerburg (First Federal of Centerburg), underscoring its ongoing commitment to mutual banking and its mission of supporting customers and communities through locally focused, people-first service.

First Federal Lakewood has been named a first-time 2025 NorthCoast 99 award winner by ERC, the Employers Resource Council. The NorthCoast 99 award honors 99 great Northeast Ohio workplaces for top talent.

First Federal Lakewood, the largest mutual bank in Ohio, announced the appointment of Meltrice Sharp and Ronald Dugas to its Board of Directors.

First Federal Lakewood, the largest mutual bank in Ohio, today announced that Rebecca (Becky) Ruppert McMahon has been elected board chair. A member of the First Federal Lakewood board of directors since 2013, McMahon succeeds W. Charles (Chas) Geiger III who has served as chair since 2016.

First Federal Lakewood announced today that it intends to reorganize into a mutual holding company structure. This structure is expected to facilitate diversification, including the possible affiliation with smaller mutual banks. The mutual holding company structure will also provide a platform to capitalize on the bank’s financial strength and success, and offer First Federal Lakewood significant long-term operating efficiencies and increased competitiveness.

First Federal Lakewood, the largest independent mutual bank headquartered in Ohio, announced today that it has received the required approvals from a majority of its members and from regulatory agencies (Federal Reserve, OCC and FDIC) to reorganize into a no-stock mutual holding company structure. Over the next several weeks the bank will formally establish First Mutual Holding Co. (FMHC), which is believed to be the first of its kind since the Dodd-Frank Act reformed the financial services indu

First Federal Lakewood today announced that W. Charles (Chas) Geiger III has been elected board chair. Geiger has served on the First Federal Lakewood board of directors since 1999. He succeeds Ronald W. Dees who served as chair since 2006. Dees continues serving as a board member of First Federal Lakewood and as board chair of First Mutual Holding Co. (FMHC). First Federal Lakewood is an affiliate of FMHC.

First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio, today announced the appointment of Dr. Ellen Burts-Cooper to its board of directors.

First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio, today announced the opening of its new branch at 33701 Center Ridge Road.

First Federal Lakewood is pleased to introduce CardValet®, a mobile card management application that helps reduce fraud by allowing cardholders to monitor and manage accounts with their smartphone and control how, when, and where their debit card is used.

First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio with assets of $1.7 billion, today announces several organizational appointments. Kurt Kappa has joined the bank as Senior Vice President, Chief Lending Officer, Richard “Rig” Goss has been promoted to the newly created role of Senior Vice President, Commercial Real Estate and Loan Operations, and Kurt Raicevich assumes the role of Senior Vice President, Retail Banking.

First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio with assets of $1.7 billion, today announces the promotion of Jeffrey (Jeff) S. Bechtel from Chief Lending Officer to the newly created role of Executive Vice President, Chief Operating Officer.

First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio with assets of $1.7 billion, announces that Anne Bingham has been named Vice President, Director of Private Banking Services.

First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio, today announced the appointment of Timothy E. Phillips as president & CEO. Phillips succeeds Thomas J. Fraser, who will now focus exclusively on his role as CEO of First Mutual Holding Co., the largest member-owned mutual holding company of its kind in the Midwest, with affiliates that include First Federal Lakewood and First Mutual Bank.

First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio, today announced the appointment of Charles J. Dolezal to its board of directors. Dolezal most recently oversaw Ohio’s banking industry as the superintendent of the Ohio Department of Commerce Division of Financial Institutions.

First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio, today announced the appointment of Charles J. Dolezal to its board of directors. Dolezal most recently oversaw Ohio’s banking industry as the superintendent of the Ohio Department of Commerce Division of Financial Institutions.

The community we serve is important to us, and we are committed to our community and our customers under every circumstance. That’s why we want to do our part to help our customers who are experiencing the financial impact of being furloughed during the U.S. government shutdown.

First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio, has launched SimplyMortgage, a new digital application that provides a faster, easier mortgage experience.

First Federal Lakewood, the largest independent, depositor-owned bank headquartered in Ohio, expanded its Northeast Ohio footprint to 19 full-service branches by opening its first branch within a grocery store at 1929 E 61st St. Cleveland, Ohio 44103, inside the newly opened Dave’s MidTown Market & eatery.

First Federal Lakewood, the largest independent, depositor-owned bank headquartered in Ohio, announced the opening of its new Columbus office and full-service branch at 6601 Dublin Center Drive, Dublin, OH. As First Federal Lakewood’s first full-service office in Columbus, this location offers a full suite of products and services for customers, including personal and business checking, as well as residential mortgage loans and commercial real estate and business loans for a variety of purposes.

First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio, today announced the opening of its new branch at 5659 Broadview Rd. As redevelopment continues in the Snow Rd. and Broadview Rd. neighborhood, First Federal Lakewood is excited to reinvest at their new location.