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.
The affiliation enables Martinsville First to offer its customers a greater variety of financial products and services, both now and in the future. Martinsville First benefits from FMHC’s data processing, operational expertise and financial reporting systems.
“Our 96-year history of community reinvestment and serving the people and businesses within Martinsville and Henry County will be enhanced with this partnership,” said Roger P. Hornsby, president and CEO of Martinsville First. “Our entire team is excited about the additional resources and support that enable us to expand our products, services and technology to better meet the needs of our customers and attract new individuals and business customers to our bank.”
Martinsville First, with approximately $40 million in assets, will continue to operate under its own name and charter and remain an autonomous mutual bank with the same management team and employees. The Martinsville First Board of Directors will also remain in place, with Glenn C. Edwards serving as board chair.
About First Mutual Holding Co.
First Mutual Holding Co. (FMHC) is a member-owned holding company headquartered in Ohio. FMHC provides a structure that allows independent affiliate banks to continue to serve their communities and grow as member-owned institutions. Affiliates of FMHC include First Federal Lakewood (Lakewood, OH), First Mutual Bank, FSB, (Belpre, OH), Blue Grass Federal Savings and Loan (Paris, KY), Warsaw Federal Savings and Loan (Cincinnati, OH) and Martinsville First Savings Bank (Martinsville, VA). firstmutualholding.com
About Martinsville First Savings Bank
Martinsville First Savings Bank is an independent mutual bank based in Martinsville, Virginia, with approximately $40 million in assets. Martinsville First has provided banking products and services to Martinsville and Henry County and the surrounding communities since 1924. martinsvillefirst.com