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Banking & Finance
Farmers to Acquire National Bancshares for $74 Million
Wednesday, January 28, 2015
CANFIELD, Ohio – Farmers National Banc Corp. has agreed to pay $74 million in stock and cash for National Bancshares Corp., holding company for First National Bank of Orrville, Farmers and National Bancshares announced Tuesday afternoon.
Farmers, which had $1.14 billion in assets at Sept. 30, is the parent of Farmers National Bank and Farmers Trust Co. National Bancshares had assets of $529.6 million at Dec. 31. Pro forma, the combined entity would increase the assets of Farmers roughly 46% to $1.67 billion and a retail banking network of 33 offices.
UCFC Reports 4Q Net Income of $2.81 Million
Wednesday, January 28, 2015
YOUNGSTOWN, Ohio -- United Community Financial Corp., holding company of the Home Savings and Loan Co., Tuesday reported fourth-quarter net income of $2.81 million, or six cents a share, and full-year 2014 net income of $50.21 million, or $1 a share.
Full-year income reflects the company’s recognition of $39.74 million of income tax benefit from the reversal of a deferred tax asset valuation reserve.
Breaking: Farmers Acquires National Bancshares
Tuesday, January 27, 2015
CANFIELD, Ohio -- Farmers National Banc Corp., the holding company for The Farmers National Bank of Canfield, and National Bancshares Corp., the holding company for First National Bank of Orrville, announced today they have entered into an agreement and plan of merger.
AAA Reports Region's Gas Prices Down 9 Cents
Tuesday, January 27, 2015
YOUNGSTOWN, Ohio -- The price of gasoline is down 9 cents in Northeast Ohio, the latest AAA East Central’s Fuel Gauge report shows, as the national average heads toward $2 per gallon.
In Northeast Ohio, the average price of a gallon of gas this week is $1.893, down from $1.984 during the week of Jan. 19 and from $3.295 the week of Jan. 28, 2014. In Youngstown, the gauge shows the price at $1.896 per gallon, and at $1.874 in Niles. In Cleveland, the price was $1.902.
National Bancshares Reports 2014 Record Net Income
Monday, January 26, 2015
ORRVILLE, Ohio -- National Bancshares Corp., parent of First National Bank of Orrville, reports fourth-quarter net income of $1.646 million, or 74 cents per diluted share, and full-year net income of $5.904 million, or $2.65 a share, a record.
These figures compare to net income of $1.108 million the quarter ended Dec. 31, 2103, or 49 cents a share, and full-year 2013 net income of $4.115 million, or $1.85 a share.