Home Savings parent company loses more money; PNC to lay off 5,800

Bad news continues to spill from banks that operate in the Mahoning Valley.

The parent company of Home Savings and Loan Co. reported a year-end loss of $37.2 million, while PNC Financial Services said it plans to lay off 5,800 workers throughout its territory after acquiring National City Corp.

Huntington National Bank said it is cutting 500 jobs in six states and suspending the company match on its 401(k) plan.

United Community Financial Corp., the Youngstown-based parent of Home Savings, said its loss from continuing operations was $4.3 million in the fourth quarter. This led to a loss of $37.2 for all of 2008.

For the complete story, see Wednesday’s Vindicator and Vindy.com