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Banking & Finance
Hierro to Retire as Head of Huntington Bank Region
Tuesday, November 04, 2014YOUNGSTOWN, Ohio -- Frank Hierro, president of the Mahoning Valley region of Huntington Bank, will retire Nov. 14, a spokesman for the bank announced this morning. He will be succeeded by William C. “Bill” Shivers, lead executive of the bank’s Akron-Canton market. Shivers, who lives in Salem, will head both regions.
Hierro spent Tuesday morning meeting with employees to inform them of his retirement.
Cortland Bancorp Net Income Rises to $955,000
Tuesday, November 04, 2014CORTLAND, Ohio -- Cortland Bancorp, holding company of Cortland Banks, Monday reported third-quarter net income of $955,000, or 21 cents per share -- a 55% increase above third-quarter 2013 net income.
Net income for the first nine months is $3.33 million, or 73 cents a share, a 48% increase above the $2.27 million for the first three quarters of 2013, or 50 cents a share.
The board of directors declared a cash dividend of five cents a share payable Nov. 28 to shareholders of record Nov. 12.
Law Firms Probe ESB Financial-WesBanco Sale
Monday, November 03, 2014NEW YORK -- Two law firms here are reviewing the sale, announced last Wednesday, of ESB Financial Corp., Ellwood City, Pa., to WesBanco Inc. of Wheeling, W.Va.
WesBanco agreed to pay $324.4 million, or $17.65 a share, in stock and cash, for ESB, the holding company of ESB Bank (READ STORY). Based on the closing price of ESB shares last Wednesday, WesBanco would pay a nearly 37% premium
Data Breaches at Home Depot Cost Credit Unions $60M
Friday, October 31, 2014YOUNGSTOWN, Ohio -- The data security breach at Home Depot has cost credit unions in the United States nearly $60 million in unreimbursed expenses, the Credit Union National Association reported Thursday. CUNA is headquartered in Washington, D.C.
Affected by the breaches are nearly 165,000 members of Ohio credit unions that incurred more than $1.3 million in related expense, said Patrick Harris, director of legislative affairs for the Ohio Credit Union League in Columbus.
Huntington Bank Ranked Highest by Small Businesses
Friday, October 31, 2014COLUMBUS, Ohio -- In this year’s J.D. Power survey of banks, small-business owners raked Huntington Bank the highest in customer satisfaction among banks based in the Midwest, the bank announced Thursday.
“Huntington performs particularly well in facility, fees, account information and channel activities,” the bank said the J.D. Power survey found.
The survey is the second consecutive annual assessment conducted by J.D. Power that ranked Huntington highest in the North Central Region in its U.S. Banking Retail Satisfaction Study.