Banking & Finance

Area Auto Dealers Report Rise in New Car Sales

YOUNGSTOWN, Ohio – New car sales in the Mahoning Valley rose slightly in October to 2,483, according to data from the Automobile Dealers Association of Eastern Ohio, or 15 more than the same month last year. Meanwhile, used car sales in Mahoning, Trumbull and Columbiana counties dropped 7.7% to 3,595. The Chevrolet Silverado took over […]

Area Foreclosure, Delinquency Rates Decline in August

YOUNGSTOWN, Ohio – The foreclosure rate in the Youngstown-Warren-Boardman metropolitan statistical area during August was down nearly half a percentage point from a year earlier, CoreLogic reported this morning. The rate of foreclosures among outstanding mortgage loans in the three-county eastern Ohio-western Pennsylvania region in August was 1.81%, down from 2.26% in August 2014. The […]

CoreLogic Finds House Prices Drop in Region

IRVINE, Calif. — House prices in the Youngstown-Warren-Boardman area were 1.9% lower in September than September 2014, CoreLogic reports. When distressed sales are included, the prices rose 0.1%. The findings from the financial data company differ from September sales numbers for three counties in Ohio as compiled by the Youngstown Columbiana Association of Realtors and […]

KeyCorp to Acquire First Niagara in $4.1B Merger

CLEVELAND – KeyCorp and First Niagara Financial Group today announced a definitive merger agreement under which KeyCorp will acquire First Niagara in a cash and stock transaction valued at approximately $4.1 billion. First Niagara, headquartered in Buffalo, N.Y., has $39 billion in assets and $29 billion in deposits and 394 banking offices in New York, Pennsylvania, […]

Talmer Bancorp Reports Net Income of $20 Million

TROY, Mich. – Talmer Bancorp Inc., holding company of Talmer Bank and Trust, Wednesday reported third-quarter net income of $20.04 million, or 27 cents per diluted common share. Talmer has 16 offices in Mahoning and Trumbull counties, Ohio, eight in each. The $20.04 million is higher than the $17.55 million net income, or 23 cents […]

Talmer Bank and Trust Turns Inward for Growth

YOUNGSTOWN, Ohio – After acquiring the troubled assets of 11 failing or bankrupt banks, Talmer Bank and Trust is more focused today on organic or internal growth than growing by acquiring other banks, its senior management says. Talmer’s goal is to reach the $9.9 billion in assets from the $6.5 billion “in short order,” the […]

Cortland Bancorp Reports Net Income of $1.23M

CORTLAND, Ohio – Cortland Bancorp, holding company of Cortland Banks, Tuesday reported third-quarter net income of $1.23 million, or 27 cents a share, a 27% increase over third-quarter 2014 earnings and 34% higher than second-quarter earnings. In the second quarter, Cortland reported net income of $916,000, or 21 cents a share, and $955,000, or 21 […]

3 Analysts Recommend Purchasing UCFC Shares

YOUNGSTOWN, Ohio – Shares of United Community Financial Corp. reached a 52-week high Monday, $5.71, and the three firms that follow the company average a target price for its stock of $6. The 52-week low was $3.58. All three – Keefe, Bruyette & Woods, Sandler O’Neill + Partners and Boenning & Scattergood Inc. – recommend […]

Huntington Bank Ranks as Second-Largest SBA Lender

COULMBUS, Ohio – The U.S. Small Business Administration says Huntington Bank is the second-largest lender to small businesses as ranked by the number of loans originated in U.S. fiscal 2015, which ended Sept. 30. Despite issuing the largest number of SBA 7(a) loans in its history in fiscal 2015 – 4,337 — Huntington slipped to […]

First Niles Financial Reports Net Income of $21,000

NILES, Ohio – First Niles Financial Corp., holding company of First Federal Savings and Loan Association of Niles, reports third-quarter net income of $21,000, or two cents a share. This compares to third-quarter 2014 net income of $22,000, or two cents a share. For the first nine months, net income was $172,000, or 15 cents […]


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