Banking & Finance

Investor Accuses Warren Steel Holdings of Fraud

WARREN, Ohio – An investor in Warren Steel Holdings LLC alleges the principals have swindled him of millions of dollars that he put up as seed money to buy the former Copperweld Steel Co. mill in Champion. In Trumbull County Common Pleas Court Monday, Vadim Shulman of the nation of Monaco filed the complaint that […]

Cyprium Makes Mezzanine Investment in B.J. Alan

CLEVELAND — Cyprium Partners, a non-control private equity firm, announced Wednesday its “new sponsorless mezzanine investment” in B.J. Alan Co.,  the Warren-based operator of more than 70 Phantom Fireworks showrooms in 17 states. The capital was used to refinance existing indebtedness and to fund continued growth, Cyprium said. Terms were not disclosed. Bruce Zoldan, CEO […]

Klacik Real Estate Reports $19.7M in 2014 Sales

POLAND, Ohio — Klacik Real Estate, one of the largest independent real estate agencies in the Mahoning Valley, reports the company sold properties valued at a combined $19.7 million as a result of 237 real estate transactions in 2014. “Our sales people did an exceptional job in 2014,” says Michael D. Klacik, broker. The company […]

George P. Millich Jr. Joins Farmers Trust Co.

BOARDMAN, Ohio – George P. Millich Jr., president-elect of the Mahoning County Bar Association, has joined the Farmers Trust Co. as a vice president, trust officer and personal trust administrator, Joseph DePascale, announced Monday. DePascale is president of Farmers Trust. Millich practiced tax law and estate planning at Harrington, Hoppe & Mitchell LTD, Youngstown, before […]

Business Advisers Share Success, Horror Stories

YOUNGSTOWN, Ohio — Shannon Shugart, a yoga enthusiast 20 years, owns and operates PurYoga, a yoga studio on U.S. Route 224 in Boardman that opened in January. A year ago, her business was just a dream. “I knew what I wanted but I didn’t know how to go about it,” she says. A good friend […]

Farmers National Bank Opens Alliance Branch

CANFIELD, Ohio — Farmers National Bank announced the opening this morning of its new Alliance branch. The additional location brings the number of Farmers’ branches to 19. The 1,800-square-foot branch is located at 210 W. State St., across from Mount Union College. Staffed by five employees, the branch will include two drive-thru lanes and an […]

Huntington Awards $7K for TNP Lot Program

WARREN, Ohio – Huntington Bank has awarded $7,000 to Trumbull Neighborhood Partnership in support of its side-lot incentive program that the partnership runs in conjunction with the Trumbull County Land Reutilization Corp. The corporation is better known as the Trumbull County Land Bank. The executive director of the partnership, Matt Martin, announced the grant, the […]

Bank of America to Sell 5 Branches to FNB Corp.

PITTSBURGH – Bank of America has agreed to sell five of its branches in eastern Pennsylvania, which combined have $280 million in deposits, to F.N.B. Corp. at a price that includes a deposit premium of $7.7 million plus other undetermined considerations. The president and CEO of F.N.B., Vincent J. Delie Jr., made the announcement Wednesday. […]

Foreclosures Decline in Youngstown MSA During March

YOUNGSTOWN, Ohio – Foreclosure rates in March were down nearly a full percentage point from a year earlier in the metropolitan statistical area covering the Mahoning Valley and Mercer County, Pa. The foreclosure rate for the Youngstown-Warren-Boardman, OH-PA metropolitan statistical area was 1.87%, down 0.92% from 2.79% in March 2014, reports CoreLogic, a California-based provider […]

CEO of Cortland Bancorp Ponders Future of Banking

VIENNA TOWNSHIP, Ohio – Despite a good year in 2014 and his company turning in a solid performance this year, the president and CEO of Cortland Bancorp, James Gasior, is looking into the future and sees challenges that must be faced. Cortland Bancorp is the holding company of Cortland Banks, a community bank with 12 […]

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