Banking & Finance

Valley Venture Capital Fund Gets $250,000 Grant

YOUNGSTOWN, Ohio – A $250,000 federal grant announced Monday will provide “essential financial support” for a new venture capital fund. The Seed Fund Support grant for Valley Growth Ventures LLC is part of the $10 million awarded by the U.S. Department of Commerce’s Economic Development Administration under its 2015 Regional Innovation Strategies program. Valley Growth […]

First National Bank Updates Apps for Smartphones

PITTSBURGH — Promises to revolutionize a business or activity often come across as marketing hype. The excitement that First National Bank of Pennsylvania is working to convey about an array of innovative technology services it just introduced, and will roll out this year, support its claims of a sea change coming in how its customers […]

Mortgage Foreclosure, Delinquency Rates Down

YOUNGSTOWN, Ohio – The foreclosure rate among outstanding mortgage loans in the Youngstown-Warren region fell 0.20 percentage points in November compared to the previous year, down to 1.84% from 2.04 in November 2014. The comparison comes from CoreLogic, a California-based provider of financial analytics. The Mahoning Valley’s 1.84% foreclosure rate in November is higher than […]

Chemical Name Will Replace Talmer Bank and Trust

YOUNGSTOWN, Ohio – Once the merger of the merger of Chemical Financial Corp. and Talmer Bancorp Inc. is completed, the most noticeable change here will be the Chemical name replacing Talmer Bank and Trust on its 16 offices in the Mahoning Valley. Chemical and Talmer announced Tuesday that they will merge the second half of […]

Huntington on Track to Become Ohio’s Largest Bank

COLUMBUS, Ohio – Huntington Bancshares acquisition of FirstMerit Corp. would make the combined Huntington Bank, once it integrates FirstMerit Bank, the largest in Ohio, surpassing KeyBank. Largest, Huntington explained Tuesday, based on deposit market share. Fifth Third has earning assets of some $125 billion, which would still exceed the larger Huntington. Pro forma, the assets […]

Huntington Buys FirstMerit Bank in $3.4B Deal

COLUMBUS, Ohio – Huntington Bancshares Inc. and Akron-based FirstMerit Corp. jointly announced today the signing of a definitive merger agreement whereby FirstMerit , parent of FirstMerit Bank, will merge into Huntington in a stock and cash transaction valued at $3.4 billion. The merger would create the largest bank in Ohio based on deposit market share. […]

Talmer Bank to Merge with Chemical in $1.1B Deal

MIDLAND,  Mich. – The boards of directors of Chemical Financial Corp., the holding company for Chemical Bank based here, and Talmer Bancorp Inc., the holding company for Talmer Bank and Trust, today announced the execution of a definitive agreement for Chemical Financial Corp. to partner with Talmer Bancorp in a cash and common stock merger […]

UCFC Adds Insurance to Array of Financial Services

YOUNGSTOWN, Ohio – Further evidence that United Community Financial Corp. has fully recovered and returned to growth mode came Monday when the holding company for Home Savings and Loan Co. announced it will acquire the James & Sons Insurance Agency. The purchase, expected to close in the first quarter, is the first step toward the […]

SBA Ready to Restore Its 504 Refinance Program

VIENNA TOWNSHIP, Ohio – The U.S. Small Business Administration has restored the 504 Refinance Program, a measure that should help small-business owners put their enterprises on a surer footing and grow, James F. Donato told bankers Thursday. The executive director of Mahoning Valley Economic Development Corp., Michael R. Conway, suggested the restoration would be “a […]

FNB Corp. Reports $37.1M Fourth-Quarter Net Income

PITTSBURGH – F.N.B. Corp., holding company of First National Bank of Pennsylvania, Thursday reported fourth-quarter net income available to common shareholders of $37.1 million, or 21 cents per diluted common share, and full-year 2014 net income of $151.6 million, or 86 cents per share. This compares to fourth-quarter 2014 net income available to common shareholders […]

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