Business news digest

REGION

Butler Wick & Co. sale is completed, UCFC says

YOUNGSTOWN — The $12 million sale of Butler Wick & Co. has been completed, United Community Financial Corp. said Friday. United Community announced Dec. 18 that it was selling the Youngstown-based stock brokerage to Stifel Financial Corp. of St. Louis.

Douglas McKay, chairman and chief executive of United Community, said the sale allows the company to reduce its debt by $8 million and also provides it with $2.25 million in new capital. United Community is the holding company for Home Savings and Loan Co.

Company projects drop in natural-gas bills

ERIE, Pa. — National Fuel Gas Distribution Corp. is projecting that its natural-gas customers will see bills drop by 17 percent from Aug. 1 to July 31, 2010. The projection is part of an annual filing the company makes with state regulators.

National Fuel said it expects its gas costs to decrease by $65.8 million in that time period. The typical residential customer using 100,000 cubic feet of gas annually would see the monthly bill drop from $138.48 to $114.70. The Erie-based company serves 14 counties in Pennsylvania, including Mercer.

Vindicator staff reports