Banking & Finance

Seven Seventeen to Acquire Kent Credit Union

WARREN, Ohio – Seven Seventeen Credit Union will acquire the Kent Credit Union, the credit unions announced Wednesday and, pending regulatory approval, should complete their merger Nov. 1. In addition to increasing its assets pro forma by $43 million, the acquisition would give Seven Seventeen a physical presence in Summit County and 7,400 more members. […]

Technology to Enhance Branch of Future, Bankers Say

BOARDMAN, Ohio – Even as the number of people who use mobile banking rises, branches will continue to play an important role in how banks serve their customers well into the future, participants in a Business Journal roundtable said Tuesday. “In many of the communities where we have branches, we might be the only bank […]

Microlender Gets $1M to Help Small Businesses

YOUNGSTOWN, Ohio — Citizens Bank, which has four offices in the Mahoning Valley, announced Tuesday that it has provided a $1 million line of credit to a microlender, the Economic and Community Development Institute, so it can extend loans that range from $500 to $350,000 to small businesses and entrepreneurs throughout Ohio. The branches of […]

Reputation Institute Ranks Huntington Bank Second

COLUMBUS, Ohio – Of 32 national and large regional banks, Huntington Bank ranked second-highest overall for best reputation, the July issue of American Banker Magazine reports. Among its customers, Huntington scored 82.07, a rating of excellent on a 100-point scale, 6.68 points higher than last year. A rating of 80 or high is deemed excellent. […]

As Auto Sales Rises, So Do Lengths of Loans

YOUNGSTOWN, Ohio – During the first quarter, more than one-fourth of those who bought new cars and light trucks financed them with loans 73 to 84 months in length – 6½ to seven years – Experian Automotive reports. Experian and Equifax are two of the three major credit reporting agencies in the United States. The […]

Mortgage Demand Rises with Economy

YOUNGSTOWN, Ohio — The growing demand for mortgages, especially among first-time buyers, and home-equity lines of credit reflect both increased consumer confidence and a healthier economy, bankers say. “We are seeing an increase in first-time home buyers,” says John Lacy, Mahoning Valley sales manager for Huntington Bank. “Buyers are aggressive and plentiful.” Home-equity loans at […]

Acquisition of 1st NC Bank Strengthens Farmers’ Hand

CANFIELD, Ohio – Farmers National Banc Corp. will provide customers of Tri-State First Banc Inc. with financial services that Tri-State exited late last year, said the president and CEO of Farmers, Kevin J. Helmick, most notably wealth management and insurance. Farmers and Tri-State, holding company for 1st National Community Bank of East Liverpool, announced their […]

Farmers Banc Corp. to Acquire Tri-State First Banc

CANFIELD, Ohio — Farmers National Banc Corp, holding company of Farmers National Bank of Canfield, today announced it has agreed to buy Tri-State First Banc Inc., holding company for 1st National Community Bank of East Liverpool, for $14.2 million If approved by shareholders of both companies and regulators, the transaction would close in the fourth […]

Mahoning Valley Real Estate Market On the Rise

YOUNGSTOWN, Ohio — Programs such as “Flip or Flop” or “Love It or List It” might be ratings hits, but Gina Shutrump is concerned that they raise unrealistic expectations for buyers. “They want the ‘after’ picture,” the managing broker in the Canfield office of Howard Hanna Real Estate observes. “They see too much HGTV. They […]

Valley Real Estate Market On the Rise

YOUNGSTOWN, Ohio — Programs such as “Flip or Flop” or “Love It or List It” might be ratings hits, but Gina Shutrump is concerned that they raise unrealistic expectations for buyers. “They want the ‘after’ picture,” the managing broker in the Canfield office of Howard Hanna Real Estate observes. “They see too much HGTV. They […]

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