REGION

REGION

F.N.B. dividend increases
to 24 cents a share

HERMITAGE, Pa. — The board of directors of F.N.B., a financial services company, has increased the corporation’s third-quarter cash dividend on its common stock by 2.1 percent over the previous quarter, to 24 cents a share.

The dividend is payable Sept. 15 to shareholders of record as of the close of business Sept. 1, company officials said.

National City announces
plans to eliminate jobs

CLEVELAND — National City plans to cut some jobs as it merges the processing of home equity loans and lines of credit into its bank branches and away from brokers, the regional bank said Thursday.

The change has no effect on loans or lines of credit that customers may continue to apply for through some 1,300 branches.

There are about 450 employees in National City’s National Home Equity business that will be merged into its mortgage unit over the next two months.

Some jobs will be eliminated, but the bank did not disclose how many.

Suit cites railcar maker

JOHNSTOWN, Pa. — FreightCar America is illegally laying off workers to avoid paying them pension benefits, according to a lawsuit filed by employees and backed by the United Steelworkers of America union.

Tom McCarthy, vice president of human resources for the Chicago-based railcar manufacturer, said the lawsuit was “without merit.”

The lawsuit, filed Wednesday in federal court, stems from a series of layoffs affecting more than 200 workers.

Seventy of the workers were laid off just months short of qualifying for pensions.

A second wave of layoffs announced May 31 includes about 100 workers who will be prevented from collecting pensions or health and life insurance benefits as a result, the suit said.

From Vindicator staff and wire reports