First Federal Lakewood Welcomes Centerburg Customers Following Completion of Operational Conversion

2026-08-11

LAKEWOOD, Ohio (August 11, 2026) – First Federal Lakewood (FFL) today announced the successful completion of the operational conversion of First Federal Savings & Loan Association of Centerburg (First Federal of Centerburg), officially welcoming its customers to FFL. The operational conversion marked the final milestone in the merger that closed on July 1, 2026.

The Centerburg branch will continue serving customers from its current location with the same personal service customers have long valued. Customers will now enjoy the added benefits of First Federal Lakewood’s expanded products and services, enhanced digital banking capabilities and the extensive resources of Ohio’s largest independent depositor-owned bank.

“We are proud to welcome our Centerburg customers and look forward to maintaining the trust and service they have come to expect,” said Tim Phillips, President and CEO of First Federal Lakewood.  “As a mutual bank, we believe in reinvesting in the customers and communities we serve, and we’re excited to continue that commitment in Centerburg.”

The operational conversion included the successful transition of customer accounts and banking systems on August 10, allowing former First Federal of Centerburg customers to begin banking seamlessly as of August 11.

First Federal Lakewood was represented in the transaction by Luse Gorman, PC as legal counsel.

First Federal Savings & Loan Association of Centerburg was represented by Vorys, Sater, Seymour and Pease LLP as legal counsel.

About First Federal Lakewood

First Federal Lakewood is the largest independent depositor-owned bank headquartered in Ohio with assets of $2.9 billion. With 21 full-service branch locations and three mortgage lending offices throughout Ohio, First Federal Lakewood provides deposit, 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. FFL.bank