Westfield Bank

Westfield Bank is a community banking financial institution headquartered in Akron, Ohio. Founded in 2000, the bank had over $595,080,000 in assets in 2012 and over 500 associates. The bank is a member of Westfield Insurance Group, a regional insurance company serving customers in 31 states in United States.

Literacy program

In May 2013, Westfield Bank launched a new web-based financial literacy program for students at Akron, Ohio’s Ellet High School, allowing them to become certified in hundreds of personal finance categories at no cost to the school. The 10-unit program features six hours or programming directed toward teaching, assessing and certifying students in a number of financial topics, including credit scores, student loans, mortgages, taxes, credit cards, insurance, stocks, savings and 401(k) programs.

Acquisitions

In 2012, Westfield Bank completed the acquisition and merger of Western Reserve Bank. Medina-based Western Reserve Bancorp Inc., the parent company of Western Reserve Bank, has signed a definitive agreement to merge into Westfield Bancorp Inc. in a transaction that will net Western Reserve shareholders $18 million in cash and will pay off the nearly $5 million that U.S. Department of the Treasury infused into Western Reserve back in May 2009.

See also

• Banking in the United States
• Westfield Insurance