Business news digest

REGION

Executives finalize sale of Mahoning Valley Hospital

BOARDMAN — The sale of Mahoning Valley Hospital to Progressive Healthcare of Charleston, S.C., has been completed. Details were not released.

Michael Senchak, hospital president and chief executive, is resigning with the sale, which had been previously announced.

Mahoning Valley Hospital was opened in 1999 by Senchak and Dr. John Politis at the former Southside Hospital. It recently opened a 28-bed hospital on South Avenue in Boardman and also has a 14-bed campus on the ninth floor of Trumbull Memorial Hospital in Warren.

Mahoning Valley Hospital specializes in treating patients who need long-term acute care. Progressive operates two other hospitals, both in Indiana.

First Niles Financial plans to repurchase shares

NILES — First Niles Financial said Thursday that it intends to repurchase up to 38,614 shares of its common stock, or 3 percent of its outstanding shares.

The company also will repurchase up to 3 percent of its Class A preferred shares. Shares will be bought over the next year and used for stock-based compensation plans or general corporate purposes.

First Niles is the holding company for Home Federal Savings and Loan Association of Niles.

From Vindicator staff reports