8480-11 Honor First Federal of Lakewood

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RESOLUTION NO. 8480-11 $y; Bullock, Butler, Juris, Madigan, Nowlin, Powers. A RESOLUTION to recognize and honor First Federal of Lakewood for its successful acquisition of Century Bank and its 75-year headquarter presence in our city. WHEREAS, First Federal of Lakewood has been a successful financial institution and community bank since its founding in 1935 here in the City of Lakewood. WHEREAS, the mission of First Federal Savings & Loan Association of Lakewood is to provide quality financial products and services to consumers in our markets and achieve consistent growth. WHEREAS; First Federal of Lakewood recently completed its acquisition of Century Bank and has grown to include assets of 1.3 billion dollars and a total of 18 branches in Greater Cleveland. The institution has more than 275 employees. WHEREAS,. with this acquisition, First Federal of Lakewood is now the third largest bank headquartered in Greater Cleveland based on deposits and will maintain its headquarters in the City of Lakewood. WHEREAS, First Federal of Lakewood will grow here in the City of Lakewood and will continue to bean integral part of the. community. The institution's years of support of community activities, initiatives, and non-profits is notable. Many of their employees hold various seats on community boards, committees and organizations including chambers of commerce, Kiwanis, Rotary and other service organizations. First Federal of Lakewood also sponsors educational programs that reach students in both public and private schools in our service areas. BE IT RESOLVED BY THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That this Council and Mayor, hereby extend to First Federal of Lakewood their thanks for being such an important organization to the community, and their congratulations on First Federal of Lakewood's recent acquisition. Section 2. That the Clerk of Council is hereby authorized and directed to forward this Resolution to Gary R. Fix, President, CEO & Managing Officer, and that a copy of this Resolution be spread upon the minutes of the meeting. Section 3. It is found and determined that all formal actions of this Council concerning and relating to the passage of this resolution were adopted in an open meeting of this Council, and that all such deliberations of this Council and of any of its committees that resulted in such formal section were in meetings open to this public in compliance with all legal requirements.