Gary Fix of First Federal Lakewood Retires

GARY FIX, PRESIDENT AND CEO, FIRST FEDERAL LAKEWOOD, RETIRES

THOMAS FRASER, EVP & COO TO SUCCEED

Gary Fix (center) has retired as President and CEO First Federal Lakewood. His 27 years of service was capped with 20 straight quarters of profitability for the institution. He is seen here at a Westlake Schools Art Show hosted at the Westlake Branch on Detroit Road in December.

First Federal Lakewood has announced that Gary R. Fix, President and CEO will retired on 12/31/12 and will continue to serve on First Federal’s Board of Directors. Thomas J. Fraser, EVP & COO, has been chosen by the board to succeed Mr. Fix as the bank’s next President and CEO effective 1/1/13.

Fix has been with the bank more than 27 years and has served as CEO since 2005 and as a board member since 2004. He has also held executive leadership positions including COO and CFO. During Fix’s tenure as CEO, the bank has experienced significant growth, successfully completed the acquisition of Century Bank, achieved record loan growth year upon year, grown to 18 full service branches in Northeast Ohio with eight lending offices throughout the state, and recorded 19 consecutive quarters of profitability while assets increased to $1.3 billion.

“All of these positive growth initiatives were achieved while the financial sector of the economy was experiencing the worst contraction since the great depression and we thank Gary Fix for the numerous and valuable contributions he has made,” said Ronald W. Dees, Chairman of the First Federal Board of Directors.

“Fraser has worked closely with Fix over the last couple of years and we are confident that this leadership transition will be seamless, said Dees. “The First Federal board extends its congratulations and best wishes to Gary and Tom.”

About Gary R. Fix

Gary R. Fix has been with the bank more than 27 years and has served as CEO since 2005 and as a board member since 2004. He has also held executive leadership positions including COO and CFO. During Fix’s tenure as CEO, the bank has experienced significant growth, successfully completing the acquisition of Century Bank, achieving record loan growth year upon year, managing 18 full service branches, eight statewide lending offices, recording 19 consecutive quarters of profitability and increasing assets in excess $1.3 billion.

Fix is a graduate of St. Edward High School (Lakewood Ohio) and played basketball and baseball at St. Edward University (Austin, Texas) and graduated with a bachelor’s degree in accounting. He also attended the Darden Graduate School at the University of Virginia and is a graduate of the Ohio Savings & Loan Academy. After college, he served in the U.S. Army’s 101st Airborne Division, and completed a 14 month tour of duty in Vietnam where he was awarded a Bronze Star.

Fix began his career in public accounting and served as the Chief Financial Officer at two other local financial institutions prior to joining First Federal in 1985. Prior to being named CEO in 2005, Fix previously served as Chief Operating Officer and Chief Financial Officer and was appointed to the board in 2004. He is a past president of the Northeastern Ohio Financial Managers Society, the Northeastern Ohio Institute of Financial Education and the Metro West Kiwanis Club.

About Thomas J. Fraser

Fraser joined First Federal in 2007, and was promoted from VP Residential Lending to Senior VP & Chief Lending Officer to Executive VP & Chief Operating Officer. In June, 2012, the Board of Directors appointed him a director of the company.

Fraser is a graduate of John Carroll University, having earned both his bachelor’s degree in Economics, and master’s in History, from the institution. He has more than 17 years of banking experience, previously working for Westfield Bank National City and Andersen Consulting.

He is active in the community, currently serving as the Chairperson for Lakewood Senior Citizens (Barton Center) and trustee for North Cost Health Ministries, Lakewood Alive and Youth Challenge. He is also the past Commissioner for the West Shore Conference and chaired the American Bankers’ Association Graduate School of Commercial Lending.

About First Federal Lakewood

First Federal Lakewood, with total assets exceeding $1.3 billion, offers a full array of retail and business products through 18 full service branch locations in Northeast Ohio and eight First Federal Lending offices throughout Ohio. Founded in 1935, First Federal Lakewood is a community bank with a deep-rooted tradition of financial strength, stability and integrity. Visit www.ffl.net for additional information.

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