Banking & Finance

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 […]

Tri-State Reports Second-Quarter Loss of $45,675

EAST LIVERPOOL, Ohio – Tri-State 1st Banc Inc., holding company of 1st National Community Bank, reports a second-quarter net loss of $46,675 but first-half net income of $132,535. Second-quarter results were hurt by recognizing the expense of $196,885 on the sale April 1 of MDH Investment Management, which the holding company sold to MDH management. […]

Ryan Urges Obama to Hold China Accountable on Currency

YOUNGSTOWN, Ohio – China’s move Tuesday to devalue its currency, sending it to a four-year low on trading today, drew a sharp response from U.S. Rep. Tim Ryan, D-17, a long-time critic of China’s manipulation of its renminbi. Ryan said he has “actively joined colleagues from both parties in urging the United States to take […]

Farmers’ Net Income Falls Because of Merger Expense

CANFIELD, Ohio – Farmers National Banc Corp, holding company of Farmers National Bank and Farmers Trust Co., Monday reported second-quarter net income of $812,000, or four cents per share, and first-half net income of $3.02 million, or 16 cents per share. This compares to first-quarter net income of $2.21 million, or 12 cents per share, […]

CoreLogic Reports Local Home Prices Increase in June

YOUNGSTOWN, Ohio – The sale price of existing homes in the Youngstown-Warren-Boardman statistical area, including distressed sales, increased by 1.5% during the month of June from a year earlier, reports the California-based financial analytics firm CoreLogic. Distressed sales include short sales and real estate-owned transactions. On a month-over-month basis, local home prices, including distressed sales, […]


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