Banking & Finance

UCFC Reports Second-Quarter Net Income of $4.13M

YOUNGSTOWN, Ohio – United Community Financial Corp., holding company of the Home Savings and Loan Co., reported second-quarter net income of $4.13 million, or 8.5 cents per basic share, 8.4 cents per diluted share. This compares to net income of $3.67 million the first quarter, or 7.5 cents per basic share, and $42.40 million the […]

Farmers Bank Promotes Mark Witmer, Tim Shaffer

CANFIELD, Ohio – Mark R. Witmer is officially senior executive vice president and chief banking officer of Farmers National Bank, Kevin J. Helmick, president and CEO, announced Wednesday. Helmick also announced the promotion of Tim Shaffer, a senior vice president, as East regional president. Under the agreement that Farmers and First National Bank of Orrville […]

PNC Reports $1 Billion Net Income for 2nd Quarter

PITTSBURGH – PNC Financial Services Group Wednesday reported second-quarter net income of $1.044 billion, or $1.88 per diluted common share. This compares to the $1.004 billion in net income, or $1.75 per diluted common share, it reported for the first quarter and $1.052 billion net income, or $1.85 per diluted common share, the second quarter […]

Home Sales Show Big Gains in Mahoning, Trumbull

YOUNGSTOWN, Ohio – Sales of houses for the first half of the year are up by at least 14% from a year ago in both Mahoning and Trumbull counties, newly released reports show. In addition, sales in Mahoning County during June are up nearly 29% from June 2014. Through the first six months of 2015, […]

Mahoning Valley Auto Sales Rise 5.6% in June

YOUNGSTOWN, Ohio – Sales of new and used cars in the Mahoning Valley rose last month, figures from the Automobile Dealers Association of Eastern Ohio show. In June, dealerships in Mahoning, Trumbull and Columbiana counties sold 6,532 vehicles, a 5.6% increase over June 2014. Sales of new cars were up 4.6% last month, totaling 2,810. […]

High Student Loan Debt Deters Entrepreneurship

UNIVERSITY PARK, Pa. – The creation of small businesses is significantly hampered in areas of the country where residents carry more substantial student loan debt, according to research co-authored by Brent W. Ambrose of the Penn State Smeal College of Business. The recently updated study, “The Impact of Student Loan Debt on Small Business Formation,” […]

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. […]

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