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Company News: Alcoa to Buy RTI Metals in $1.5B Stock Transaction | March 9, 2015

Alcoa to Buy RTI Metals in $1.5B Stock Transaction

PITTSBURGH — Alcoa has reached a definitive agreement to purchase RTI International Metals Inc. in a stock-for-stock transaction that has an enterprise value of $1.5 billion. The deal was announced this morning. RTI is a global supplier of titanium and specialty metal products for the commercial aerospace, defense, energy and medical device markets. It operates […]

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 […]

Economic Development: Wean Foundation Awards $130,000 in Grants | March 9, 2015

Wean Foundation Awards $130,000 in Grants

WARREN, Ohio — The Raymond John Wean Foundation, at its March board meeting, announced $130,000 in grants to four local organizations: Empowering & Strengthening Ohio’s People, Inspiring Minds, Tabernacle Baptist Church – CDF Freedom Schools and We Are Warren. The organizations and their programs are aligned with the foundation’s strategic priorities of community revitalization, economic […]

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 […]