First Federal Lakewood Appoints Nora Mahoney and Jason Russell to Board of Directors


First Federal Lakewood, the largest independent depositor-owned bank headquartered in Ohio, today announces the appointment of Nora Mahoney and Jason Russell to the board of directors. Mahoney currently serves as Principal at Carleton McKenna & Co., a lower middle market investment banking firm. Russell is the General Manager, Real Estate Development and Management for the Van Aken District, a mixed-use project spread over five acres in the Van Aken neighborhood of Cleveland.

“We’re extremely pleased to welcome Nora and Jason to our board. Nora’s legal and M&A experience gives us more insight into these critical areas while Jason’s demonstrated commitment to urban planning and development strengthens our community knowledge,” said W. Chas Geiger III, Board Chairperson, First Federal Lakewood. “Their knowledge and expertise will be an asset to our Board and Bank as we execute our business plans and continue to best support our customers and community.”

In her current role, Mahoney provides sell-side M&A advisory services for the firm’s clients. Mahoney and her team serve as ‘acting Board Members’ for their clients, providing transition planning and capital raising expertise to business owners and shareholders. Prior to joining Carleton McKenna, Mahoney worked in commercial litigation focused on securities, business and corporate law. She holds Series 79 and 24 licenses, received her undergraduate degree from Baldwin Wallace University, and a Juris Doctor and Master’s degree from Vermont Law School. She is licensed to practice law in the State of Ohio.

In his role with the Van Aken District, Russell works closely with tenants and residents, and leads the day-to-day operations of the District including budgeting, leasing, marketing and tenant management. Previously, he was City Planner for the city of Lakewood where he administered and managed several large renovation projects, including the $2.1 million Solstice Steps development at Lakewood Park. Russell holds a master’s degree in urban planning from Cleveland State University and an undergraduate degree from Lehigh University.

“Nora and Jason are accomplished business leaders and offer fresh perspectives and significant business experience that will assist us in meeting the needs of our employees and customers, and help create healthy and vibrant communities,” said Timothy E. Phillips, First Federal Lakewood President and CEO.

First Federal Lakewood
First Federal Lakewood is the largest independent depositor-owned bank headquartered in Ohio with assets of $2 billion. With 20 full-service branch locations and 9 mortgage lending offices throughout Ohio, First Federal Lakewood provides deposit, commercial lending, residential mortgage lending, cash management and investment services to individuals and businesses. Since 1935, First Federal Lakewood has been a stable community owned bank committed to deploying funds that foster local economic growth.