REGION

REGION
Protected Life to mergewith National Guardian
SHARON, Pa. -- Protected Home Mutual Life Insurance Co., a downtown Sharon stalwart since its founding in 1886, will lose its identity in a pending merger with National Guardian Life Insurance Co. of Madison, Wis. The surviving corporation will be NGL, and corporate headquarters will remain in Madison.
The Protected Life office at 30 E. State St. will become a regional operation of NGL. It will continue to have its own business plan, products and distribution outlets. The company has about 50 full-time employees. The merger is subject to government regulatory approval as well as the approval of Protected Life's policy holders who, in essence, own the company. The merger is expected to be completed later this year.
F.N.B. Corp. reportsincreased earnings
NAPLES, Fla. -- F.N.B. Corp., which intends to move its headquarters back to Hermitage, Pa., earned $24.7 million in the second quarter, compared with $23.9 million in the same quarter last year. Per-share earnings increased from 51 cents last year to 53 cents this year. Operating revenue last quarter was $110.5 million, which was up 10 percent.
The increase in earnings was the result of revenue and loan growth, including improved performance in insurance and wealth management and gains on the sale of mortgage loans, F.N.B. said.
The company plans to divide its operations into two separate companies. First National Bank of Pennsylvania would be based in Hermitage, while a new Florida-based holding company would be created to oversee First National Bank of Florida.
First Niles Financialposts earnings increase
NILES -- First Niles Financial earned $249,000, or 19 cents a share, in the second quarter, compared with $237,000, or 17 cents a share, in the same quarter last year. It is the holding company for Home Federal Savings and Loan Association of Niles.
The increase in earnings was the result of decreases in a provision for loan losses and expenses, the bank said.
Altronic president on development board
CLEVELAND -- Bruce Beeghly, president of Altronic in Girard, has been appointed to the board of directors of Team NEO, a new regional economic development organization for Northeast Ohio. The 11 members who have been named will pick four others. The Youngstown/Warren Regional Chamber joined with other chambers and economic development groups recently to form Team NEO to promote this region.
From Vindicator staff and wire reports