Banking & Finance

Web Complements, Doesn’t Replace Bank Branches

YOUNGSTOWN, Ohio — It wasn’t that long ago – only a third of a century – that you had to go to the bank or credit union to cash a check, make a deposit, add to your savings account, apply for a mortgage or a car loan. Bank offices opened at 10 a.m. and closed […]

Middlefield Banking Co. Agrees to Buy Liberty Bank

MIDDLEFIELD, Ohio — Middlefield Banc Corp., parent of the Middlefield Banking Co., announced today that it will acquire Liberty Bank N.A., Beachwood, and pay $40.8 million for its three offices in Beachwood, Solon and Twinsburg and loan production office in Wooster. One of The Middlefield Banking Co.’s 10 offices is in Cortland. Pro forma, the […]

First Commonwealth to Buy 13 FirstMerit Offices

COLUMBUS, Ohio – First Commonwealth Financial Corp., holding company of First Commonwealth Bank, has agreed to buy 13 offices of FirstMerit Bank to satisfy the competitive concerns of the U.S. Department of Justice regarding the pending acquisition of FirstMerit this quarter by Huntington Bancshares Inc. The chairman, president and CEO of Huntington Bancshares, Stephen D. […]

Auction of Former Cafaro HQ Draws $1.345M Bid

YOUNGSTOWN, Ohio – An online auction concluded Wednesday for the former headquarters of the Cafaro Co., but that might not be the last word on the fate of the property. Negotiations are underway with a potential buyer, Joe Bell, Cafaro director of corporate communications, said yesterday afternoon. “We’ll have to see where it leads and […]

Cortland Bancorp Reports 2Q Net Income of $1.17M

CORTLAND, Ohio – Cortland Bancorp, holding company of Cortland Banks, Tuesday reported second-quarter net income of $1.17 million, or 27 cents a share, 28% above the $916,000 reported the same quarter a year ago, or 21 cents a share. For the first quarter, Cortland reported net income of $1.36 million, or 31 cents a share. […]

FNB Corp. Reports 2Q Net Income of $39.29 Million

PITTSBURGH – F.N.B. Corp., holding company of First National Bank of Pennsylvania, Thursday reported net income available to shareholders of $39.29 million, or 19 cents per common share, which includes three cents per share in merger-related costs. Total net income was $41.30 million. This compares to first-quarter net income available to shareholders of $24.12 million, […]

Huntington Reports 2Q Net Income of $174.54 Million

COLUMBUS, Ohio – Huntington Bancshares Inc., parent of Huntington National Bank, Thursday reported $174.54 million in net income for the second quarter, $154.67 million of which was applicable to common shares, or 19 cents per common share. This compares to first-quarter net income of $171.31 million, $163.32 million applicable to common stock, or 20 cents […]

FNB Says It Will Buy N.C.-based Yadkin Bank

PITTSBURGH – F.N.B. Corp., parent of First National Bank of Pennsylvania, and Yadkin Financial Corp., Raleigh, N.C., announced this morning that the former will acquire the latter in an all-stock transaction valued at $1.4 billion, or $27.35 per share of Yadkin. Pro forma, the acquisition of Yadkin, with $7.5 billion in assets would make the […]

Farmers Reports 2Q Net Income of $5.02 Million

CANFIELD, Ohio — Farmers National Banc Corp. Wednesday reported second-quarter net income of $5.02 million, or 19 cents a share. This compares to first-quarter net income of $4.80 million, or 18 cents a share, and second-quarter 2015 net income of $812,000, or three cents a share. Farmers is the parent of Farmers National Bank, Farmers […]

UCFC Reports Record Quarterly Net Income

YOUNGSTOWN, Ohio – United Community Financial Corp., holding company of the Home Savings and Loan Co., Tuesday reported second-quarter net income of $5.33 million, or diluted earnings of 11.2 cents a share, both records. It also announced its directors raised the quarterly dividend to three cents a share, up from 2.5 cents, payable Aug. 12 […]

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