John Waldvogel

1931 - 2011

(News Article) A Toledo man who rose from accounting clerk to chairman and chief executive of a savings and loan that was among the state's largest, died of cancer Wednesday in Hospice of Northwest Ohio, South Detroit Avenue. John Waldvogel was 79.

He was appointed chairman and chief executive officer of First Federal Savings & Loan Association in April, 1989, succeeding Donald A. Baker, who resigned after a 43-year career with the institution.

In December, 1989, Mr. Waldvogel announced his retirement.

The Resolution Trust Corp. seized control of First Federal in 1991, and the savings and loan was shuttered. Baker and his son, William, were indicted by a federal grand jury on bank fraud and conspiracy charges. The Bakers pleaded guilty to lesser charges. The elder Baker was fined $650,000, but failing health kept him from prison. His son pleaded guilty to three counts of misapplication of bank funds, was sentenced to federal prison, and fined $400,000.

In July, 1997, Waldvogel was sentenced to a year and a day in federal prison and fined $100,000 based on an earlier guilty plea to one count of bank fraud.

At the time of his sentencing, Waldvogel said although he had been aware of the Bakers' actions, he should have been "a little more diligent" in his efforts to stop the practice.

He was released from prison in December, 1997, according to the Federal Bureau of Prisons online database.

Born in Bowling Green, Waldvogel grew up in Toledo and was a graduate of Central Catholic High School. He was 12 when his father died, and he took jobs in a greenhouse and for a golf course, his daughter, Sally, said. He later worked in accounting for Doehler-Jarvis Die Casting Co.

After a brief stint in the Army, Waldvogel applied to First Federal, was hired in 1954, and began his ascent.

"He was somebody everybody saw something in, and they knew he was capable," his daughter said.

He was promoted to branch manager in 1956; assistant secretary of the association in 1963, and a vice president of the mortgage loan department in 1971. He was named first vice president and secretary in 1974 and a First Federal director and an executive vice president in 1978.

The South Toledo resident was appointed president and managing officer in 1985 and, in 1987, was named association vice chairman and chairman of its lending committees. When he became chairman and CEO two years later, he was at the helm of a savings and loan that made more home loans than any other Toledo lender and had hundreds of employees; $1.3 billion in assets, and 20 offices.

"He was a big champion of the savings and loans," said Larry Boyer, a vice president of the former People's Savings Association when they met.

"We were fierce competitors, but Jack was a wonderful, wonderful banker and very outstanding in everything he did," said Mr. Boyer, now executive vice president of Waterford Bank.

Waldvogel's wife, Marilyn, died July 5, 1992. Surviving are his daughter, Sally Lawniczak; sons, John, Patrick, and Joseph; sister, Mary Lou Hagen; 15 grandchildren, and seven great-grandchildren.

There will be no visitation. Services will be private. Arrangements are by the Coyle Funeral Home.

The family suggests tributes to Hospice of Northwest Ohio; Our Lady of Perpetual Help Church, where he was a member, or the Helping Hands of St. Louis, an East Toledo soup kitchen that he and his wife supported.

Contact writer Mark Zaborney at: mzaborney@theblade.com or 419-724-6182.