First Place Financial Corp. will pay no dividend

October 27, 2009 at 5:05p.m.

WARREN — First Place Financial Corp. is not paying a quarterly dividend after reporting a $5.9 million quarterly loss for its quarter that ended Sept. 30.

The Warren-based banking company said today that the board of directors did not approve a dividend. The most recent dividend had been 1 cent a share.

Steven Lewis, company president and chief executive, said the board is conserving cash to “weather the economic storm” and so it can to retire outstanding preferred stock as soon as possible.

For more information, see Wednesday’s Vindicator or www.vindy.com.