Banking & Finance

Investors in First Niles Seek 2 Seats on Board

NILES, Ohio – Two investors who own more than 9% of the 1.12 million shares outstanding in First Niles Financial Corp. seek to replace two of the five-man board of directors April 27 at its annual meeting. Lance Osborne and Steve Passov have engaged a proxy solicitation firm to gather the votes of shareholders, they […]

Foreclosures, Delinquencies Down in January

YOUNGSTOWN, Ohio – The rate of mortgage foreclosures in the Youngstown-Warren-Boardman area declined slightly in January compared to January 2015, reports CoreLogic, a financial analytics company based in California. The January foreclosure rate was 1.90%, a decrease of 0.11 percentage points from January 2015 when the rate was 2.01%. Even so, foreclosure activity remains higher […]

Business More Cautious, Concerned – PNC Survey

PITTSBURGH – Presidential candidates’ belligerent campaigning and wider swings in U.S. stock markets have made owners of small and mid-sized businesses more cautious about the next six months and more pessimistic about the economy, a semi-annual phone survey conducted for PNC finds. The results of the survey, released today, found that 43% of those asked […]

February House Sales Reflect 4.8% Gain Over Year

YOUNGSTOWN, Ohio – Sales of houses in the Mahoning Valley area during February are up nearly 5% from a year earlier, despite a nearly 9% decline in Columbiana County, the latest monthly data show. During February, a total 329 houses were sold in Mahoning, Trumbull and Columbiana counties last month, up 4.8% from the 314 […]

Valley Auto Dealers See Sales Climb in February

YOUNGSTOWN, Ohio – Sales of new and used cars climbed nearly 13% last month to 3,993 for dealers in the Mahoning Valley, data from the Greater Cleveland Automobile Dealers’ Association show, while new sales alone jumped 28% to 2,149. Leading sales of new vehicles in Mahoning, Trumbull and Columbiana counties was Greenwood Chevrolet, Austintown, which […]

Cleveland Fed Study Finds Small Businesses Optimistic

CLEVELAND – The financial health of small businesses in the United States continues to improve, the Federal Reserve Bank of Cleveland reported Friday. The 2015 “Small Business Credit Survey: Report on Employer Firms,” presented “a largely optimistic picture for small firms in the United States,” the Cleveland Fed said. “The net share of firms [with […]

Farmers Banc Corp. Increases Dividend 33%

CANFIELD, Ohio – Farmers National Banc Corp. will pay a cash dividend of 4 cents per share March 31 to shareholders of record March 11. The first quarter 2016 dividend was declared Feb. 23 by the company’s board of directors. It represents a 33% increase over the 2015 first-quarter dividend payment, says Kevin Helmick, CEO […]

Index Shows January Gain in Valley House Prices

YOUNGSTOWN, Ohio  – House prices in the Youngstown-Warren-Boardman area, including distressed sales, increased by 3.8% in January compared with a year earlier, CoreLogic reports. The California-based financial services firm also says house prices, including distressed sales, decreased by 0.8% in January compared with December 2015. Nationwide house prices, including distressed sales, increased 6.9% in January […]

Entrepreneurs Remain Loyal to Commercial Lenders

YOUNGSTOWN, Ohio – Bankers see themselves as partners of the companies they serve, as sources of counsel and advice, not just providers of credit. They’re vested in their customers’ success, which requires much more than assessing risk and offering the appropriate terms, bankers say. Money is fungible, so what leads a company to use and […]

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