News

Stay up to date on important developments at First Mutual Holding Company by checking this page for the latest news and information.

For media inquiries please contact:

Jennifer Raynor
Chief Strategy Officer
216-529-2651
info@fi rstmutualholding.com

Martinsville First Savings Bank Affiliates with First Mutual Holding Co.
March 01, 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.
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.
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.
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.
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.
Sam J. DeBonis Joins Warsaw Federal as New President & CEO
May 18, 2020
Warsaw Federal, an independent mutual bank in Cincinnati Ohio, today announces that Sam J. DeBonis has been appointed the President & CEO.
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.
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.
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.
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”).
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.
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.
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.

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.
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.
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."
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.
Smaller loan requests stretch out second round of PPP; funding 'maybe' will last another week
May 05, 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.
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.
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.
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.
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.
Could sharing services be the key to survival for mutuals?
July 05, 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.