Welcome to the Business Journal Archives
Search for articles below, or continue to the all new BusinessJournalDaily.com now.
Search
F.N.B.'s Regency Finance Buys Eight Ohio TICO Credit Offices
HERMITAGE, Pa. -- The sale of eight TICO Credit offices in central Ohio by The Modern Finance Co. to Regency Finance Co., a subsidiary of F.N.B. Corp., was completed recently. The offices, located in Beavercreek, Bellefontaine, Coshocton, Marion, Mount Vernon, Marysville, Columbus, and Reynoldsburg, will operate as Citizens Financial Services Inc., a subsidiary of Regency.The Modern Finance Co., (t/a TICO Credit Co.), an Ohio corporation, is an affiliate of Thaxton Group Inc., a South Carolina corporation.Gary Boggs, who has more than 24 years of experience in consumer finance, has been hired as the regional manager responsible for the eight offices. He will move to the area from Altoona, Pa., where he has spent the past 15 years as a regional manager for a large national consumer finance company.Regency Finance Co. was founded in 1927. With the acquisition of the TICO Credit offices in central Ohio, Regency now owns and operates 56 consumer finance offices -- 24 in Pennsylvania, 16 in Ohio, and 16 in Tennessee -- serving over 44,000 loan customers. Net loans outstanding, totaling $136 million as of the end of the first quarter 2004, will increase $10,000 million.F.N.B. Corp. has total assets of $4.6 billion. F.N.B. is a provider of banking, wealth management, insurance, and consumer finance services in western Pennsylvania and eastern Ohio. On Jan. 1, F.N.B. completed a previously announced spin-off of its Florida operations into a new publicly traded company.Visit F.N.B. Corp.: www.fnbcorporation.com"