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First Mutual Holding Co. Board Elects New Board Chair

October 3, 2024

First Mutual Holding Co. (FMHC), a member-owned mutual holding company headquartered in Ohio, today announced that W. Charles (Chas) Geiger III has been elected board chair. Geiger has served on the FMHC board since the company inception in 2015 and was previously a board member and board chair for First Federal Lakewood, a FMHC member bank.

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Minority Deposit Institution Warsaw Federal Announces Initial Closing of Community Impact Additional Tier 1 Capital Offering

September 9, 2024

“We are very pleased to announce the initial closing of our additional tier 1 capital offering. The new capital will provide support for the growth that we envision for our organization,” said Robie K. Suggs, president and CEO of Warsaw Federal. “It is an exciting time for us and we’re incredibly enthusiastic about our future. As a mutual we’re taking a measured and thoughtful approach in our transition to an MDI.

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First Mutual Holding Co. Member Bank Warsaw Federal Transitions to a Minority Depository Institution

December 5, 2023

Warsaw Federal Savings & Loan (Warsaw Federal), an independent mutual bank affiliated with First Mutual Holding Co., has served the residents and community of East Price Hill for 130 years. Now, the community bank is hitting a new milestone: becoming Cincinnati’s first Minority Depository Institution (MDI).

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First Mutual Holding Co. Appoints Rafael Alfonzo to Board of Directors

March 10, 2023

First Mutual Holding Co. (FMHC), a member-owned holding company headquartered in Ohio, announces the appointment of Rafael Alfonzo to its board of directors. Rafael is the cofounder and managing partner of Radien Legacy Partners, an investment group that acquires, manages, and grows small businesses to preserve the businesses’ legacies for all stakeholders.
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FMHC Names Andy Shook as New CFO

April 25, 2022

First Mutual Holding Co. (FMHC) promoted Andy Shook to Chief Financial Officer (CFO) for the member-owned holding company headquartered in Ohio. Shook will lead the collective efforts of the company’s accounting and financial management teams, reporting directly to FMHC CEO Thomas J. Fraser.
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Martinsville First Savings Bank Completes Affiliation with First Mutual Holding Co.

October 19, 2021

Martinsville First Savings Bank (“Martinsville First”) of Martinsville, Virginia, finalized its affiliation with First Mutual Holding Co. (FMHC), a member-owned holding company headquartered in Ohio, with the successful completion of the operational conversion on October 18, 2021.
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First Mutual Holding Co. Announces Kathy Dockery as Chief Information Officer

July 12, 2021

First Mutual Holding Co. (FMHC), a member-owned holding company headquartered in Ohio, welcomes Kathy Dockery as SVP, Chief Information Officer. In her role, Kathy leads the enterprise IT division, including IT service delivery, enterprise systems, business intelligence and digital strategy.
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Martinsville First Savings Bank Affiliates with First Mutual Holding Co.

March 1, 2021

Martinsville First Savings Bank (Martinsville First) of Martinsville, Virginia officially became the fifth affiliate bank of First Mutual Holding Co. (FMHC) with the transaction close on March 1, 2021. FMHC, a depositor-owned mutual holding company headquartered in Ohio, and Martinsville First announced the intent to affiliate in September 2020.
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Tammy Belcher Named President of First Mutual Bank

December 17, 2020

First Mutual Bank (FMB), an independent depositor-owned bank affiliated with First Mutual Holding Co. (FMHC), announces the appointment of Tammy Belcher as President. Belcher, a longtime Mid Ohio Valley resident and veteran banking professional, will assume her new role on January 4, 2021.
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Blue Grass Federal Completes Affiliation with First Mutual Holding Co.

September 14, 2020

Blue Grass Federal Savings & Loan Association (“Blue Grass Federal”) of Paris, Kentucky, is officially an affiliate of First Mutual Holding Co. (FMHC), a depositor-owned holding company headquartered in Ohio. Blue Grass Federal and FMHC previously announced the intention to form an affiliate relationship pending member and regulatory approval.

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Martinsville First Savings Bank to Affiliate with First Mutual Holding Co.

September 11, 2020

First Mutual Holding Co. (“FMHC”), a member-owned holding company headquartered in Ohio, today announced that Martinsville First Savings Bank (“Martinsville First”) of Martinsville, Virginia, agreed to affiliate with FMHC, pending approval of regulatory agencies and of voting members of Martinsville First.
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Warsaw Federal Completes Affiliation with First Mutual Holding Co.

July 15, 2020

Warsaw Federal Savings and Loan Association (“Warsaw Federal”) of Cincinnati, Ohio is officially an affiliate of First Mutual Holding Co. (FMHC), a depositor-owned holding company headquartered in Ohio. Warsaw Federal and FMHC previously announced the intention to form an affiliate relationship pending member and regulatory approval.
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Warsaw Federal to Affiliate with First Mutual Holding Co.

September 27, 2019

First Mutual Holding Co. (FMHC), a member-owned holding company headquartered in Ohio, today announced that Warsaw Federal Savings and Loan Association (“Warsaw Federal”) of Cincinnati, Ohio, agreed to affiliate with FMHC, pending approval of regulatory agencies and Warsaw Federal members.
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Blue Grass Federal to Affiliate with First Mutual Holding Co.

August 16, 2019

First Mutual Holding Co. (FMHC), a member-owned holding company headquartered in Ohio, today announced that Blue Grass Federal Savings & Loan Association (“Blue Grass Federal”) of Paris, Kentucky, agreed to affiliate with FMHC, pending approval of regulatory agencies and of voting members of Blue Grass Federal.
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First Mutual Holding Co. Names Margaret Wichman New Chief Financial Officer

January 21, 2019

First Mutual Holding Co. welcomes Margaret Wichman as the new SVP, Chief Financial Officer & Treasurer. In this role, Margaret brings her expertise in providing direction and management in accounting, financial compliance, and reporting, along with support towards the overall strategic imperatives and mutuality mission of First Mutual Holding Co. and the banks it serves.
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Two Community Banks Merge and Become First Mutual Bank

May 31, 2018

First Mutual Holding Co. (“FMHC”), the largest member –owned mutual holding company of its kind in the Midwest, today announced the launch of First Mutual Bank, a result of the merger between Doolin Security Savings Bank, FSB (“Doolin”) and Belpre Savings Bank (“Belpre”).
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Doolin Security Savings Bank to Affiliate with First Mutual Holding Co.

May 11, 2017

First Mutual Holding Co. (“FMHC”), the largest member –owned mutual holding company of its kind in the Midwest, today announced that Doolin Security Savings Bank, FSB (“Doolin”) agreed to affiliate with FMHC, pending approval of regulatory agencies and of voting members of Doolin.
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First Mutual Holding Co. Affiliates Belpre Savings Bank

November 15, 2016

First Mutual Holding Company (FMHC), the largest depositor-owned mutual holding company of its kind in the Midwest, today announced that it has affiliated Belpre Savings Bank.
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First Mutual Holding Co. Announces First Affiliation

August 20, 2015

First Mutual Holding Co. (FMHC), the largest depositor-owned mutual holding company of its kind in the Midwest, announced today that Belpre Savings Bank in southeastern Ohio will become an affiliate bank of FMHC, pending approval of regulatory agencies and Belpre’s depositors and borrowers.
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First Mutual Holding Co. takes a ‘visionary’ approach with capital raise

September 11, 2024

With the initial close of a capital raise for its Cincinnati affiliate — achieved using a mechanism that’s barely been used in decades — First Mutual Holding Co. (FMHC) continues to position itself as a trailblazer in terms of supporting the growth and stability of the diminishing mutual bank ecosystem.
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After makeover, Cincinnati mutual bank receives MDI designation

December 8, 2023

A 130-year-old community bank has a new look.
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Warsaw Federal Savings and Loan Association becomes second Minority Depository Institution in Ohio

December 5, 2023

An affiliate of Lakewood’s First Mutual Holding Co. (FMHC) has become just the second Minority Depository Institution (MDI) in Ohio in a move that may present a model for other financial institutions and aspiring MDIs to follow.
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West Side bank lands Minority Depository Institution designation, targets $30M in new capital

December 5, 2023

A small, two-branch West Side bank has become Greater Cincinnati’s only Minority Depository Institution, giving local minority consumers and small-business owners another source of capital and banking services.
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Ohio mutual lines up deal for southern Virginia bank

September 11, 2020

Roger Hornsby, president and CEO of the $40 million-asset Martinsville First Savings Bank, calls it the “trials and tribulations of a very small financial institution.” Earlier this year, the southern Virginia mutual’s core provider gave Hornsby a “drop-dead date” to update its operating system, spurring management to meet with the board and discuss their options — including affiliating with First Mutual Holding in Lakewood, Ohio.
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Martinsville First Savings Bank to be next affiliate under First Mutual Holding Co.

September 11, 2020

First Mutual Holding Co. has announced an affiliation with Martinsville First Savings Bank of Martinsville, Va., in a combination that adds a new foothold for the parent company of First Federal Lakewood in the state. The transaction is slated to close in the first quarter of 2021, pending regulatory and member approvals.
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First Mutual in NE Ohio affiliating with Martinsville First Savings Bank

September 14, 2020

Martinsville First Savings Bank of Martinsville, Virginia, said it has agreed to affiliate with First Mutual Holding Co. Lakewood, Ohio-based First Mutual Holding Co. (FMHC) said Martinsville First, located between Roanoke, Virginia and Greensboro-High Point, North Carolina, “intends to leverage FMHC’s scale into expansion opportunities.”
Continue Reading First Mutual in NE Ohio affiliating with Martinsville First Savings Bank

Martinsville First Savings Bank to Affiliate with First Mutual Holding Co.

September 11, 2020

First Mutual Holding Co. (“FMHC”), a member-owned holding company headquartered in Ohio, today announced that Martinsville First Savings Bank (“Martinsville First”) of Martinsville, Virginia, agreed to affiliate with FMHC, pending approval of regulatory agencies and of voting members of Martinsville First.
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Smaller loan requests stretch out second round of PPP; funding ‘maybe’ will last another week

May 5, 2020

Considering how quickly the first round of funding for the Paycheck Protection Program was burned through and the ongoing demand for small business support amid the COVID-19 outbreak, initial expectations were that the second round of funding would evaporate in as quickly as 48 hours. Those concerns have not panned out, but time is still of the essence for applicants to get a piece of the existing funding.
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First Mutual Holding is preserving mutual banking

September 29, 2019

With only 490 left today, more than 90% of the country’s mutual bank charters have evaporated in the past 50 years. Helping the holdouts not just survive, but thrive, is where First Mutual Holding Co. (FMHC) and its CEO, Tom Fraser, come in.
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First Mutual Holding Co. marks latest affiliation with Warsaw Federal Savings and Loan Association of Cincinnati

September 27, 2019

First Mutual Holding Co. has announced its latest mutual bank affiliation in a combination with Warsaw Federal Savings and Loan Association of Cincinnati. The transaction is slated to close in Q1 of 2020, pending regulatory and member approvals. Being an affiliation among depositor-owned mutual banks, there’s no money exchanged in the deal.
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A mutual preservation pact in Ohio-Kentucky deal

August 20, 2019

An Ohio mutual believes it is gaining momentum in a four-year-old effort to preserve small depositor-owned institutions. First Mutual Holding, the parent of the $2 billion-asset First Federal Lakewood, agreed on Friday to acquire the $35 million-asset Blue Grass Federal Savings & Loan Association in Paris, Ky.
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First Mutual Holding Co. affiliates with Blue Grass Federal Savings & Loan of Kentucky in its latest affiliation

August 16, 2019

First Mutual Holding Co., the parent company of mutual banks First Federal Lakewood and First Mutual Bank in Belpre, has announced its latest affiliation with Blue Grass Federal Savings & Loan Association of Paris, Ky.
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Could sharing services be the key to survival for mutuals?

July 5, 2018

The leader of an Ohio mutual has a plan to keep mutual banks from becoming extinct. Thomas Fraser believes in the cause so much that he recently gave up day-to-day oversight of First Federal Lakewood in Ohio. Fraser, who will remain CEO of the $1.8 billion-asset mutual’s holding company, will spend more time pursuing mergers with other depositor-owned institutions. At the same time, he is looking to create more ways for independent-minded mutuals to remain relevant.
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