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Banking & Finance: First Niles Announces Payoff of Nonperforming Loan | March 9, 2015

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 […]

Banking & Finance: New Credit, Debit Cards to Contain Computer Chips | March 6, 2015

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 […]

Banking & Finance: Foreclosures, Mortgages Delinquencies Down in Valley | March 6, 2015

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 […]

Banking & Finance: Agriculture Lending Yields Specialty for Small Bank | March 2, 2015

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 […]

Banking & Finance: GasBuddy Forecasts ‘Huge Increases’ at the Pump | February 26, 2015

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 […]

Banking & Finance: Huntington to Buy Macquarie Equipment Finance Inc. | February 24, 2015

Huntington to Buy Macquarie Equipment Finance Inc.

COLUMBUS, Ohio- – Huntington Bancshares Inc., parent of Huntington Bank, announced today that it has signed a definitive agreement for the bank to purchase Macquarie Equipment Finance Inc., based in Detroit. Macquarie Equipment Finance is a subsidiary of the Australia-based Macquarie Group Ltd. The subsidiary is the “largest stand-alone vendor independent provider of specialized-technology financing […]