Banking & Finance

Region Sees Drop in Foreclosures, Delinquencies

YOUNGSTOWN, Ohio – Data for June show mortgage foreclosures and delinquencies in the Youngstown-Warren-Boardman metropolitan area were both down from a year earlier. CoreLogic, a California-based data and analytics company, reports that foreclosures among outstanding mortgage loans was 1.66% in June for the Youngstown-Warren-Boardman. That’s down 0.22 percentage points from June 2015 when the foreclosure […]

First Niles Reports Second-Quarter Net Income of $16,000

NILES, Ohio — First Niles Financial Inc., holding company of Home Federal Savings and Loan Association of Niles, reports second-quarter net income of $16,000, or one cent per share, compared to $24,000, or two cents a share, the same period a year ago. The company also reports that its directors have declared a quarterly cash […]

Huntington Bank Funds Side Lot Incentive Program

WARREN, Ohio – A check presentation Wednesday launched the fourth year that Huntington Bank and the Trumbull County Land Reutilization Corp. have partnered on a program that enables city residents to improve vacant properties adjacent to their homes. The Side Lot Incentive Program, funded by a $10,000 grant from Huntington, provides a $250 gift card […]

Huntington Bank Completes Acquisition of FirstMerit

COLUMBUS, Ohio – Huntington Bancshares Inc., has completed its acquisition of FirstMerit Corp. and all offices of FirstMerit Bank are now branches of Huntington National Bank, Huntington announced this morning. The agreement between the two providers of financial services based in Columbus (Huntington) and Akron (FirstMerit) was announced Jan. 25. The resulting entity has assets […]

Regulators Give Go-Ahead to Chemical-Talmer Merger

MIDLAND, Mich. – The Board of Governors of the Federal Reserve System and the Michigan Department of Insurance and Financial Services have approved the union of Chemical Financial Corp. and Talmer Bancorp Inc., allowing completion of the merger Aug. 31. Chemical, holding company of Chemical Bank, made the announcement after markets closed Wednesday. Talmer is […]

Linville Witnesses the Transformation of Banking

CORTLAND, Ohio — Dennis Linville, who began his career in banking when checks were filed by hand, retired two months ago from the Cortland office of the Middlefield Banking Co. after being a witness to, and a participant in, the technology revolution that has transformed financial services. Because Linville is retired, he could be candid […]

Set Up a Trust to Protect Your Assets

YOUNGSTOWN, Ohio — Setting up a trust is the simplest way, and often the best, to protect and control your assets, to ensure you have provided for your family should disaster overtake you (and your spouse). So say bank trust officers, financial consultants and a veteran attorney who limits his practice to estate planning. “If […]

Web Complements, Doesn’t Replace Bank Branches

YOUNGSTOWN, Ohio — It wasn’t that long ago – only a third of a century – that you had to go to the bank or credit union to cash a check, make a deposit, add to your savings account, apply for a mortgage or a car loan. Bank offices opened at 10 a.m. and closed […]

Middlefield Banking Co. Agrees to Buy Liberty Bank

MIDDLEFIELD, Ohio — Middlefield Banc Corp., parent of the Middlefield Banking Co., announced today that it will acquire Liberty Bank N.A., Beachwood, and pay $40.8 million for its three offices in Beachwood, Solon and Twinsburg and loan production office in Wooster. One of The Middlefield Banking Co.’s 10 offices is in Cortland. Pro forma, the […]

First Commonwealth to Buy 13 FirstMerit Offices

COLUMBUS, Ohio – First Commonwealth Financial Corp., holding company of First Commonwealth Bank, has agreed to buy 13 offices of FirstMerit Bank to satisfy the competitive concerns of the U.S. Department of Justice regarding the pending acquisition of FirstMerit this quarter by Huntington Bancshares Inc. The chairman, president and CEO of Huntington Bancshares, Stephen D. […]

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