Banking & Finance

Tax Season Brings IRS Scams, BBB, DeWine Warn

YOUNGSTOWN, Ohio – As taxpayers prepare to file their annual returns, they’re likely to receive phone calls purporting to be from the Internal Revenue Service. They would be well-advised to hold off on acting on such calls because a con artist, not an IRS agent, likely placed the call, say the Better Business Bureau and […]

First Niles Announces Payoff of Nonperforming Loan

NILES, Ohio — First Niles Financial Inc., parent company of Home Federal Savings and Loan Association of Niles, reports the pay-off of a nonperforming loan will positively impact earnings during the first quarter. This transaction is expected to contribute approximately $148,000 in pretax income, or about $98,000 in after-tax income, to overall first-quarter earnings, the […]

New Credit, Debit Cards to Contain Computer Chips

YOUNGSTOWN, Ohio — By October, many but not all Americans will begin using their new credit and debit cards – called security-enhanced EMV-enabled cards – to make payments at brick-and-mortar stores. Instead of swiping their cards with magnetic strips along the sides of the current POS (point-of-sale) terminals, they will insert their new cards, each […]

Foreclosures, Mortgages Delinquencies Down in Valley

YOUNGSTOWN, Ohio — Foreclosure rates in the Youngstown-Warren-Boardman statistical metropolitan area decreased in December compared to the same month last year, according to newly released data from CoreLogic, a California-based provider of financial information. The CoreLogic data show that the rate of  foreclosures in he area among outstanding mortgage loans was 1.98% for December, down 1.20 percentage […]

UCFC Names Treasurer Esson Chief Financial Officer

YOUNGSTOWN, Ohio — United Community Financial Corp., holding company of the Home Savings and Loan Co., has named its treasurer, Timothy W. Esson, chief financial officer as well, Gary M. Small, president and CEO announced Monday. The post of CFO had been vacant since last April 25 when James R. Reske left to accept a […]

Agriculture Lending Yields Specialty for Small Bank

ORRVILLE, Ohio — Farming has become as high-tech as manufacturing. Robotics are just as integral to raising livestock as to the autoworkers who produce Cruzes at the General Motors Co. complex in Lordstown. Agricultural lending, on the other hand, is quite different than what bankers call “C&I lending,” commercial and industrial lending. The majority of […]

BWC Lowering Overall Rates for Private Employers

COLUMBUS, Ohio — The Ohio Bureau of Workers’ Compensation will adopt a 10.8% overall rate reduction for Ohio private employers with approval from the BWC Board of Directors today. The change, effective July 1, is expected to bring a decrease in projected annual premium of $153 million, and bring private employer rate levels 21.4% lower […]

GasBuddy Forecasts ‘Huge Increases’ at the Pump

CHICAGO — The transition from “winter blend” to “summer blend” gasoline always brings increases in retail gasoline prices, but nothing you’ve seen over the past year is likely to match what GasBuddy anticipates over the next two to three weeks. “Wednesday brought a big price rally in gasoline markets and gasoline wholesalers are seeing huge […]

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