Banking & Finance
Cease-and-Desist Order Lifted at UCFC
Wednesday, April 04, 2012
YOUNGSTOWN, Ohio – Federal and state regulators have lifted the cease-and-desist orders United Community Financial Corp. has worked under since August 2008, UCFC announced after the markets closed Tuesday.
UCFC is the holding company of the Home Savings and Loan Co. It had operated more than 3½ years under the cease-and-desist orders imposed by the Federal Deposit Insurance Corp. and the Ohio Division of Financial Institutions.
Winning Bidder Wants to Reclaim, Not Raze, Buildings
Tuesday, April 03, 2012
YOUNGSTOWN, Ohio – Todd Larsen, owner of Larsen Remodeling in Boardman and a landlord on the South Side, is an optimist.
He bid $9,700 to acquire three neighboring parcels in varying states of disrepair in the 3600 block of South Avenue Monday and hopes to rehabilitate the buildings and rent them out in six months.
“I own three houses within walking distance,” he said afterward as auctioneer Chris Roman of George Roman Auctioneers Ltd., completed the paperwork that should give him title in two weeks. “I look upon it as a good investment.”
City to Relaunch 'Youngstown Initiative' with $1M
Friday, March 30, 2012
YOUNGSTOWN, Ohio – The city’s Youngstown Initiative program should be under way in about a month, following City Council’s approval of $1 million for the program, city economic development director T. Sharon Woodberry said.
Council members approved the funding as part of the 2012 budget they passed Wednesday. When the program initially operated, from 2001 to 2008, the $3 million the city invested leveraged $35 million in private investment and helped create about 800 jobs, Woodberry said.
“It was hugely successful,” she remarked.
ESB Financial Corp. Declares Cash Dividend
Wednesday, March 21, 2012
ELLWOOD CITY, Pa.-- ESB Financial Corp. announced Tuesday following its board of directors meeting that a quarterly cash dividend of 10 cents on the company's common stock will be paid April 25 to stockholders of record at the close of business March 30.
UCFC Earns $7.9M in 4th Quarter, Profit in 2011
Friday, March 16, 2012
YOUNGSTOWN, Ohio – United Community Financial Corp., holding company of the Home Savings and Loan Co., Thursday reported fourth-quarter net income of $7.93 million, or 25 cents a share, and 2011 net income of $230,000, or a penny a share.
This compares to UCFC’s fourth-quarter net loss a year ago of $17.33 million, or 56 cents a share, and a net loss of $37.27 million, or $1.22, for all of 2010.
The company attributed much of its improved performances to the successful sale of four branches in northwestern Ohio and gains recognized on the sale of securities.