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Banking & Finance
1 in 3 Houses in Mahoning County Underwater
Thursday, May 31, 2012YOUNGSTOWN, Ohio – One-third of the houses in Mahoning County, 33%, are underwater, that is, the balance on the mortgage exceeds the value of the property, says Zillow.com, a real estate website.
In Trumbull County, 35% of the houses are underwater, in Columbiana County 26%, in Mercer County, Pa., 20% and in Lawrence County, Pa., 21%, Zillow reports in its first-quarter survey.
Of the five counties, Zillow had the average home value for only Trumbull County, $68,400.
Ohio Pending Home Sales Up in April
Thursday, May 31, 2012COLUMBUS, Ohio -- The number of single-family homes and condominiums put under agreement in Ohio during April rose for the 12th consecutive month compared to a year ago. Ohio’s April pending home sales index of 118.6, a forward-looking indicator based on contract signings, rose 22.7% from the April 2011 index of 96.7.
After Strong 2011, F.N.B. Sees Even Stronger 2012
Thursday, May 24, 2012HERMITAGE, Pa. – With strong internal growth, two acquisitions and the completion of a successful “capital raise” in 2011, F.N.B. Corp. today stands at $11.7 billion in assets, deposits of $9.8 billion and loans of $7.8 billion, its president and CEO, Vincent J. Delie Jr. informed shareholders Wednesday.
F.N.B. is the parent of First National Bank of Pennsylvania. Delie succeeded Stephen J. Gurgovits in January; Gurgovits was elected chairman.
Cortland Bancorp Foresees More Strong Growth
Wednesday, May 23, 2012VIENNA TOWNSHIP, Ohio -- Cortland Bancorp enjoyed 9% growth in 2011 and expects that trend to continue this year by devoting more resources to lending, its president and CEO, James M. Gasior, told shareholders Tuesday at the company’s annual meeting.
Farmers Bank Ranks Among Top 200 Community Banks
Tuesday, May 15, 2012CANFIELD, Ohio -- Farmers National Bank is ranked 123rd on American Banker Magazine's list of top 200 community banks in the country. The ranking is based on a three-year average return on investment for shareholders.
When adjusted for banks with assets greater than $1 billion, Farmers comes in at No. 25 and is the only Ohio bank to make the list at that asset level, said John S. Gulas, president and CEO.