Butler Wick & Co. to be sold for $12M

YOUNGSTOWN — The parent company of Home Savings and Loan Co. has entered into an agreement to sell Butler Wick & Co. for $12 million.

United Community Financial Corp. intends to sell the Youngstown-based stock brokerage to Stifel Financial Corp., an investment bank based in St. Louis. The deal is expected to close by Dec. 31. Butler Wick Trust Co. will remain part of UCFC.

UCFC said the sale will reduce its debt and allow the company to focus on its core banking business. Butler Wick has 23 offices in three states and employs 175.

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