PNC to Create Center for Financial Services Innovation
Monday, February 04, 2013PITTSBURGH -- The PNC Financial Services Group, holding company of PNC Bank, will create the PNC Center for Financial Services Innovation at Carnegie Mellon University.
Initially, the center will focus on research and education pertaining to the retail banking sector, seeking to capitalize on new technologies and the effective use of data to improve how well banks function and the services they offer customers, PNC said.
Study Shows Trucking Industry Benefits from Shale
Saturday, February 02, 2013CLEVELAND -- The shale industry’s increasing use of horizontal drilling to retrieve oil and natural gas once beyond reach has greatly benefited the domestic trucking industry, a study by Benesch reports.
The benefits go well beyond eastern Ohio and western Pennsylvania, extending to North Dakota, Texas and Louisiana, reports Benesch, a business law firm with offices in Cleveland, Columbus, Indianapolis, Philadelphia and elsewhere. Overseeing its gas practice are Orla E. “Chip” Collier III in Columbus and Kevin D. Margolis in Cleveland.
Cortland Bancorp Declares 3¢ Cash Dividend
Saturday, February 02, 2013CORTLAND, Ohio – The directors of Cortland Bancorp, holding company of Cortland Banks, have declared a 3-cent per share cash dividend payable Feb. 28 to shareholders of record at close of business Feb. 14.
GM Sales Up in January; Chevy Cruze Sales Down
Friday, February 01, 2013YOUNGSTOWN, OHIO – General Motors Co. reported this morning that sales of new cars and trucks increased 16% in January compared to the same period last year.
But sales of the Lordstown-built Chevrolet Cruze, however, were down by 3.5% compared to last year, GM said. The Lordstown plant produced 21,274 new Cruzes during the month, according to production reports.
GM said that it sold 194,699 vehicles during January. The company also said that retail sales were up 24%.
Incubator Launches $2.5 Million Capital Campaign
Friday, February 01, 2013YOUNGSTOWN, Ohio – In five years, the Youngstown Business Incubator wants to be a self-sustaining economic engine with no need of government funding. But it can't accomplish that goal on its own.
That's why business leaders Thursday unveiled a campaign to raise $2.5 million to help the incubator diversify its revenue stream, develop new markets, and to see its portfolio of tenant companies grow.
"If we want to continue, we need the resources," said Barb Ewing, chief operating officer of the incubator. "We've already had a tremendous impact."
Farmers Banc Corp. Reports 4Q Net Income of $2.64M
Friday, February 01, 2013CANFIELD, Ohio – Farmers National Banc Corp., holding company of Farmers National Bank and Farmers Trust Co., Thursday reported fourth-quarter net income of $2.64 million, or 14 cents per diluted share, and full-year 2012 net income of $9.93 million, or 53 cents.
These figures compare to third-quarter net income of $2.49 million or 13 cents per share, and fourth-quarter 2011 net income of $3.04 million, or 16 cents a share, and full-year 2011 net income of $9.22 million, or 50 cents per share.
Cortland Bancorp Reports 4Q Net Income of $803,000
Friday, February 01, 2013CORTLAND, Ohio – Cortland Bancorp, holding company of Cortland Banks, Thursday reported fourth-quarter net income of $803,000, or 17 cents a share, and full-year 2012 net income of $4.18 million, or 92 cents per share.
Fourth-quarter figures compare to $1.3 million for the quarter ended Sept. 30, or 28 cents a share, and $828,000 the last quarter of 2011, or 18 cents a share, and full-year 2011 of $4.07 million, or 90 cents a share.
Appalachian Railcar Services Relocates to Warren Depot
Friday, February 01, 2013WARREN, Ohio – Appalachian Railcar Services Inc.'s new Warren Depot location will allow the company to explore possible transloading and warehousing opportunities, a company vice president says.
Appalachian Railcar Services will offer onsite railcar work and mobile crew services from its new location, according to an announcement from the Youngstown/Warren Regional Chamber, which assisted the company with site selection services and other resources.
More Well Permits for Carroll, Harrison Counties
Friday, February 01, 2013YOUNGSTOWN, Ohio – Just four permits for horizontal drilling operations in Ohio's Utica shale were issued last week, according to the Ohio Department of Natural Resources.
Two permits were issued on Jan. 26 to Chesapeake Exploration LLC for wells in Carroll County, ODNR records show. Both wells are slated for the Walker property in Loudon Township.