REGION

REGION

First Niles to repurchase
common, preferred shares

NILES — First Niles Financial said it would repurchase up to 69,228 common shares, representing 5 percent of its outstanding shares. The company also intends to buy back up to 5 percent of its Class A preferred shares. Shares will be used to meet the company’s obligations for stock-based compensation plans and other general corporate purposes. First Niles is the parent company of Home Federal Savings and Loan Association of Niles.

NATION

Armored-vehicle maker
files for bankruptcy help

CHARLESTON, S.C. — Protected Vehicles, which builds bomb-resistant trucks for the military, has filed for Chapter 11 bankruptcy protection amid tough times for the armored-vehicle industry.

The North Charleston-based company laid off about 250 workers and ceased operations late last year, and its bankruptcy petition comes as the Marine Corps last year decided to buy a third fewer armored vehicles. Some observers say a drop in violence in Iraq and Afghanistan may mean even fewer orders.

Vindicator staff/wire reports