Banking & Finance

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 […]

Foreclosures, Delinquencies Down in Valley

YOUNGSTOWN, Ohio – The foreclosure rate in the Mahoning Valley fell slightly in December, down to 1.96%, a decrease of 0.10 percent compared to December 2014, reports the financial analytics company CoreLogic. Still, foreclosure activity in the region was higher than the national foreclosure rate, which was 1.20% for December 2015. Meanwhile, the mortgage delinquency […]

First Niles Reports $40,000 4th-Quarter Net Income

NILES, Ohio – First Niles Financial Inc., holding company of Home Federal Savings and Loan Association of Niles, reports fourth-quarter net income of $40,000, or three cents a share, and full-year 2014 net income of $212,000, or 19 cents a share. This compares to fourth-quarter 2014 net income of $32,000, or three cents a share, […]

Cortland Bancorp Makes OTCQX Best 50 for 2nd Year

CORTLAND, Ohio – Cortland Bancorp, holding company of Cortland Banks, ranks No. 46 on the 2016 OTCQX Best 50, a compilation of the 50 top-performing companies that traded on the OTCQX Best Marketplace in 2015, the company announced Thursday. It is the second consecutive year Cortland has made the list, James M. Gasior, president and […]

Mahoning Gains Boost January Home Sales in Region

YOUNGSTOWN, Ohio – January sales of single-family houses in the Mahoning Valley region were up more than 21% from a year earlier, driven largely by a spike in sales in Mahoning County. The latest monthly reports from data compiled by the Youngstown Columbiana Association of Realtors and the Warren Area Board of Realtors show 353 […]

Valley Venture Capital Fund Gets $250,000 Grant

YOUNGSTOWN, Ohio – A $250,000 federal grant announced Monday will provide “essential financial support” for a new venture capital fund. The Seed Fund Support grant for Valley Growth Ventures LLC is part of the $10 million awarded by the U.S. Department of Commerce’s Economic Development Administration under its 2015 Regional Innovation Strategies program. Valley Growth […]

First National Bank Updates Apps for Smartphones

PITTSBURGH — Promises to revolutionize a business or activity often come across as marketing hype. The excitement that First National Bank of Pennsylvania is working to convey about an array of innovative technology services it just introduced, and will roll out this year, support its claims of a sea change coming in how its customers […]

Mortgage Foreclosure, Delinquency Rates Down

YOUNGSTOWN, Ohio – The foreclosure rate among outstanding mortgage loans in the Youngstown-Warren region fell 0.20 percentage points in November compared to the previous year, down to 1.84% from 2.04 in November 2014. The comparison comes from CoreLogic, a California-based provider of financial analytics. The Mahoning Valley’s 1.84% foreclosure rate in November is higher than […]

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