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Letter from our CEO


As bigger banks consolidate and become more robotic and distant, Westfield Bank continues to attract customers in Northeast Ohio who want a more personal relationship with a bank that provides a high level of service and is invested in their community.

The ripple effect

This past year, we reviewed and refreshed our mission and vision statements to bring clarity and focus to our short-term and long-range goals: to maintain customer satisfaction, attract top talent, create efficiencies in sales and operations, grow loans and deposits, and invest in technology to improve the customer experience.

For Westfield Bank, 2016 was a moment of momentum, that point where all of our thoughtful planning and collective efforts created a positive ripple effect in the marketplace. We had record sales in 2016, with loan originations at $547 million, exceeding 2015 sales of $467 million by 27%. Bank assets grew by $150 million, which is 13% higher than 2015. We also finalized development plans for a new Westfield Bank location in Wooster and acquired Hudson-based indirect auto lender, COIN Financial. New online deposit account opening services were also developed and deployed in early 2017.

The banking industry is changing at perhaps its fastest pace yet. Mobile wireless capabilities are transforming customer behavior and redefining what a "bank" is and does. A digitization transformation is underway with payments and financial services, shifting away from paper-based processes to electronic, automated, and interfaced technologies. Westfield Bank is accelerating efforts to streamline operational processes, improve user experiences, and launch new capabilities to keep pace with these trends.

Westfield Bank also invested in its people. In 2016 we developed new programs to improve professional development of our employees, including the rollout of a formal graduate development training-rotation program. We also expanded our executive leadership team to improve oversight as we continue to grow.

Our 40,000 sq. ft. operations center in Seville became fully operational in 2016. Moving our core employees to one location has further enhanced communication, teamwork, and productivity.

Continued improvements in the customer experience

During this era of rapid transformation of the banking industry, Westfield Bank is well positioned to continue our momentum going forward. Our goals for 2017 include the continued focus on growing market share and accessibility for our customers.

The accomplishments of Westfield Bank in 2016 are part of our customer growth story over the past two decades; however, the most significant aspect is that our goals were achieved thanks to our employees and customer referrals. That level of trust creates the momentum for our success.

 

Picture of Jon Park's signature
Jon W. Park
Westfield Bank Chairman & CEO