Quarter earnings increasefor United Community
YOUNGSTOWN -- United Community Financial Corp. earned $5 million, or 16 cents a share, in the first quarter, compared with $4.3 million, or 13 cents a share, in the same quarter last year.
Douglas McKay, chairman and chief executive, said strong mortgage operations contributed to the earnings growth. United Community is the parent company of Home Savings and Loan Co. and Butler Wick Corp.
Second Bancorp reportsfirst-quarter earnings
WARREN -- Second Bancorp, the parent company of Second National Bank, earned $8.7 million, or 89 cents a share, in the first quarter, compared with $4.7 million in the same period last year. Earnings last quarter were boosted by the sale of two branches in Jefferson County, which produced a $5.6 million pre-tax gain. Excluding that sale, earnings for the quarter were $5 million, or 52 cents a share.
Treasurer David Kellerman said officials expect per-share earnings from operations this year to be between $2.08 and $2.13, compared with $1.94 last year.
Union holds elections
WARREN -- Larry Kellar was named to a second term as president of United Steelworkers of America Local 3523 in elections this week. Members of the local, which represents 307 employees at Thomas Steel Strip Corp. in Warren, also elected Tom Jones as vice president, Pat Naples as chairman of the grievance committee and John Brown Jr. as recording secretary. The union's three-year contract expires Aug. 1 and negotiations will begin soon for a new agreement.
From Vindicator staff reports