Banking & Finance

Fifth Third Sells 17 Offices to First National Bank

PITTSBURGH — First National Bank of Pennsylvania, the largest subsidiary of F.N.B. Corp., has agreed to buy 17 offices of Fifth Third Bank in this market and acquire some $383 million in retail and private deposits as well as related consumer loans, Vincent J. Delie Jr. announced this morning. Delie is president and CEO of […]

Venture Fund Launched to Help Valley Companies

YOUNGSTOWN, Ohio – A partnership between the Youngstown Business Incubator, the Tech Belt Energy Innovation Center in Warren and the Mahoning Valley Economic Development Corp. is poised to launch a new for-profit venture capital fund designed to seed business development within the region’s technology and advanced manufacturing sectors. The fund, Valley Growth Ventures LLC, will […]

Gasoline Prices Heading Below $2 a Gallon

GAITHERSBURG, Md. — Americans who hit the road this Labor Day weekend are likely to see the lowest Labor Day prices at the pump in more than a decade. The savings could total $1.4 billion Friday through Monday. “August gasoline prices plummeted by 18 cents per gallon, the greatest decrease since 2008,” said Patrick DeHaan, […]

Cortland Banks Rewards Customers Who Use Kasasa

CORTLAND, Ohio – Cortland Banks is rewarding its customers who take advantage of the three Kasasa account options it offers with higher rates of interest, rebates and refunds, James Gasior, president and CEO announced. This ”innovative suite of reward-based checking and savings accounts [carry] the Kasasa brand name,” said Danielle Cantrell, vice president and retail […]

Moody’s Affirms Its Baa1 Rating of Youngstown

NEW YORK – Moody’s Investor Service has affirmed its general obligation limited tax rating of Youngstown, Ohio, as Baa1, saying, “The outlook on the city’s credit remains stable.” Youngstown has $13.7 million in long-term general obligation limited tax bonds outstanding, $8.2 million of which is Moody’s rated. Municipal bonds that Moody’s rates Baa, its website […]

First National Bank Names Donatelli to Lead Pittsburgh Region

PITTSBURGH – Ronald Donatelli, who joined First National Bank of Pennsylvania in 2009 as head of its business credit division, has been promoted to president of its Pittsburgh region, Robert Moorehead announced Friday. Moorehead was recently named chief wholesale banking officer of First National Bank, the largest subsidiary of F.N.B. Corp. In his new role, […]

Foreclosures Down in Youngstown-Warren-Boardman

YOUNGSTOWN, Ohio – The rate of foreclosures in the Youngstown-Warren-Boardman statistical area fell in June compared to June 2014, CoreLogic reported Thursday. The rate measures the percentage of loans in some stage of the foreclosure. CoreLogic is based in Irvine, Calif. The data show that the rate of foreclosures among outstanding mortgage loans here was […]

Talmer Sets Secondary Stock Offering, Repurchase

TROY, Mich. — Talmer Bancorp Inc. announced Tuesday that a secondary offering pursuant to which funds affiliated with WL Ross & Co. LLC have agreed to sell 9,664,579 shares of their Talmer Class A common stock in an underwritten public offering. Talmer will not issue any shares nor receive any proceeds from the offering, it said.  […]

Ohio Home Sales in July Rose 15.4% from Year Ago

YOUNGSTOWN, Ohio — Home sales in July were up 15.4% from a year earlier, the Ohio Association of Realtors reports. The increase marked the market’s 11th consecutive monthly year-over-year gain, according to the association. Additionally, home sales last month increased 6.3% from June. “Home sales activity throughout the Buckeye State is extremely robust, as we […]

Williams to Retire Next Month as FNB President

PITTSBURGH – John C. Williams Jr., president of First National Bank of Pennsylvania, will retire in September after 45 years in the banking industry, the bank announced this morning. Williams joined First National Bank, the largest subsidiary of F.N.B. Corp., in 2008 to lead the bank’s Pittsburgh Region and was named president in 2011t. The […]

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