Two Community Banks Merge and Become First Mutual Bank

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

First Mutual Bank combines the strength of two well established banks to form an even stronger customer-focused and depositor-owned bank with pro forma assets of $96 million and four banking offices. As an affiliate of FMHC, First Mutual Bank offers customers new and expanded banking opportunities. Customers now have access to additional mortgage, deposit and business lending products, as well as expanded banking services, including mobile banking and access to more than 25,000 surcharge-free ATMs across the United States.

“This is an exciting time because we are building a stronger future as First Mutual Bank to better serve the communities in the Mid-Ohio Valley Region,” said First Mutual Bank President and CEO Robert J. Doyle. “Through the merger of Belpre and Doolin, we’ve changed our name to First Mutual Bank, but our commitment to the communities we serve has not changed.”

“Strong mutual banks play an important role in their local communities,” said Thomas J. Fraser, president and CEO of FMHC. “First Mutual Holding Co. was established to preserve this vital community asset and we are excited to help support First Mutual Bank’s continued growth and commitment to customers.”

First Mutual Bank is headquartered in Belpre, Ohio, with branches in Belpre, Ohio and New Martinsville, and Parkersburg, West Virginia.

About First Mutual Holding Co.

First Mutual Holding Co. (“FMHC”) is the largest member-owned mutual holding company of its kind in the Midwest. As a member-owned mutual holding company, 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) and First Mutual Bank (Belpre, OH). firstmutualholding.com

About First Mutual Bank

Formed in 2018 as the result of a merger between Belpre Savings Bank and Doolin Security Savings Bank, First Mutual Bank operates four banking offices and one mortgage lending office, providing a wide range of banking services to customers throughout the Mid-Ohio Valley. First Mutual Bank, an affiliate of First Mutual Holding Co., traces its roots to 1896 and is committed to creating vibrant communities and helping customers create a stronger financial future. 1stmutualbank.com
 

Contact:

Jennifer A. Raynor. SVP, Chief Communications and Culture Officer
(216) 529-2651 | jraynor@firstmutualholding.com