Banking & Finance
Mortgage Services Deal Benefits Ohio
Friday, February 10, 2012COLUMBUS, Ohio -- Ohio is part of a joint federal-state settlement of $25 billion with five of the nation's largest mortgage servicers over foreclosure abuses, fraud, and unacceptable mortgage practices. The Buckeye State's estimated share of the settlement is $335 million.
Americans to Spend $17.6B on Valentine’s Day
Friday, February 10, 2012WASHINGTON -- Love may not cost a thing, but consumers this year are set to spoil their friends, family and loved ones this Valentine's Day in a very big way. The average person who celebrates the holiday is expected to shell out $126.03 this year, up 8.5% over 2011.
Middlefield Net Income Rises 91.5%
Thursday, February 09, 2012MIDDLEFIELD, Ohio -- Middlefield Banc Corp., parent of The Middlefield Banking Co. and Emerald Bank, posted fourth quarter net income of $1.33 million, up 91.5% from a year ago. Net income for 2011 of $4.13 million is a 64.1% increase over 2010.
Other notable results for the year reported by the company include:
Foreclosures Depress Housing Starts, Prices
Thursday, February 09, 2012ORLANDO, Fla. -- Home foreclosures decreased dramatically in 2011. Still, some industry experts are cautioning that this is not a reflection of improvements in the housing market, but a result of legal, process and "robo-signing" issues.
At the 2012 International Builders' Show here, Ed Sullivan, chief economist for the Portland Cement Association, which represents cement companies in the United States and Canada, said that the 1.9 million foreclosures reported in 2011 is understated by more than one million due to the processing delays.
First National Wins Awards for Excellence
Wednesday, February 08, 2012HERMITAGE, Pa. --First National Bank of Pennsylvania has won six 2011 Greenwich Excellence in Banking Awards, reports the bank's president and CEO, Vincent J. DeLie Jr.
Greenwich Associates, founded in 1972 and based in Stamford, Conn., named the bank a national winner in small-business banking in three categories: overall satisfaction, relationship manager performance and branch satisfaction.