First Federal Lakewood Board Selects New Board Chair
September 16, 2016 | Lakewood, OH
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First Federal Lakewood today announced that W. Charles (Chas) Geiger III has been elected board chair. Geiger has served on the First Federal Lakewood board of directors since 1999. He succeeds Ronald W. Dees who served as chair since 2006. Dees continues serving as a board member of First Federal Lakewood and as board chair of First Mutual Holding Co. (FMHC). First Federal Lakewood is an affiliate of FMHC.
“As the mutual holding company expands through future strategic mergers and opportunities, we feel strongly that separating the board roles will further strengthen the governance of FMHC by allowing more focused oversight of a diversified financial services company, “ said Ronald W. Dees, board chair of FMHC. “In addition, the singular focus Chas offers to First Federal Lakewood is a tremendous asset to the management team and to making decisions that best serve First Federal Lakewood customers, communities and employees.”
“Chas’ leadership and innovative thinking will help us to continually challenge ourselves to act with a customer-first mentality,” says Thomas (Tom) J. Fraser, president and CEO of First Federal Lakewood and FMHC. “In addition, his strong business acumen and years of experience on our board will be additive to our goal of achieving continued business growth, while remaining a strong and stable community bank.”
W. Charles (Chas) Geiger III
Geiger is president and CEO of Geiger’s, a family-owned chain of clothing and sports stores in Lakewood, Cleveland and Chagrin Falls. He has served in a number of roles with the company and has been president since 1992.
Geiger has held numerous civic leadership roles, including serving 22 years on the Lakewood Board of Education. He is currently president of the Lakewood Hospital Foundation board. In addition, he has served and supported Lakewood Chamber of Commerce, Downtown Lakewood Business Alliance, Beck Center for the Arts, and LakewoodAlive.
Geiger is a graduate of Wittenberg University in Springfield, Ohio, and is a lifelong Lakewood resident.
First Federal Lakewood
First Federal Lakewood is the largest independent depositor-owned bank headquartered in Ohio with assets of $1.6 billion. With 18 full-service branch locations and 14 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.
First Mutual Holding Company
First Mutual Holding Company (FMHC) was formed on August 3, 2015, after depositor-members of First Federal Lakewood approved its reorganization into a no-stock mutual holding company. As a depositor-owned mutual holding company, FMHC provides a structure that allows First Federal Lakewood and other independent affiliate banks to continue to serve their communities and grow as depositor-owned institutions. FMHC is believed to be the first no-stock mutual holding company to be created since the Dodd-Frank Act reformed the financial services industry in 2010. firstmutualholding.com