Banking & Finance

BWC Lowering Overall Rates for Private Employers

COLUMBUS, Ohio — The Ohio Bureau of Workers’ Compensation will adopt a 10.8% overall rate reduction for Ohio private employers with approval from the BWC Board of Directors today. The change, effective July 1, is expected to bring a decrease in projected annual premium of $153 million, and bring private employer rate levels 21.4% lower […]

GasBuddy Forecasts ‘Huge Increases’ at the Pump

CHICAGO — The transition from “winter blend” to “summer blend” gasoline always brings increases in retail gasoline prices, but nothing you’ve seen over the past year is likely to match what GasBuddy anticipates over the next two to three weeks. “Wednesday brought a big price rally in gasoline markets and gasoline wholesalers are seeing huge […]

Huntington to Buy Macquarie Equipment Finance Inc.

COLUMBUS, Ohio- – Huntington Bancshares Inc., parent of Huntington Bank, announced today that it has signed a definitive agreement for the bank to purchase Macquarie Equipment Finance Inc., based in Detroit. Macquarie Equipment Finance is a subsidiary of the Australia-based Macquarie Group Ltd. The subsidiary is the “largest stand-alone vendor independent provider of specialized-technology financing […]

Talmer Names Fatobene Mortgage-Lending Manager

TROY, Mich. – Talmer Bank and Trust has named Donald Fatobene of Cortland manager of its Mahoning Valley mortgage banking activity, Patrick Ervin, executive managing director of Talmer’s mortgage division, announces. Fatobene, who manages five of the 18 Talmer offices in the Mahoning Valley, will also run its loan production efforts. He is based in […]

Home Sales Across Ohio Up in January

COLUMBUS, Ohio — The number of homes sold across Ohio in January rose 4.2% from the level posted during the month a year ago, the market’s fifth consecutive monthly year-over-year gain, according to the Ohio Association of Realtors. Home sales activity in January dipped 6.2% from the level reached in December 2014. “Home sales activity […]

Local Lenders Say ‘Yes’ to Business

YOUNGSTOWN, Ohio — This is a good time for small-business owners to apply for a loan or seek a larger line of credit. “We see a lot of demand for new lines of credit, for working capital,” says Josh Toot, a vice president for business banking at Huntington Bank in Youngstown. Banks, the largest credit […]

More Houses Sold in January than Year Ago

YOUNGSTOWN, Ohio — Sales of single-family houses in Mahoning, Trumbull and Columbiana counties were up 12.2% in January compared to a year earlier, the latest monthly report shows. A total of 321 units were sold last month, up from 286 in January although down from December’s 454, according to data provided to the Centralized Real […]

Low Consumption of Services Holds Back Expansion

CLEVELAND — Economic growth since the end of the Great Recession has been subdued and how consumption patterns have changed in this recovery – especially of services — help to explain why, two researchers at the Federal Reserve Bank of Cleveland find. In a paper released last week, two economists in the Cleveland Fed’s research […]

NRF Forecasts Retail Sales to Increase 4.1% in 2015

WASHINGTON — The National Retail Federation projects retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 4.1%, up from the 3.5% growth seen in 2014. In its 2015 economic forecast, released Thursday, the trade organization said it expects non-store sales in 2015 to grow between 7% and 10%. The 4.1% increase overall […]

SBA Expands Access to Loans from Credit Unions

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