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First Place decides against purchasing AmTrust banks

WARREN — First Place Bank has called off its planned purchase of three AmTrust Bank branches in Lake County. Both banks agreed that there would be no termination fees, First Place said.

Steven Lewis, First Place president and chief executive, said bank officials decided to preserve capital given the difficult credit markets that exist.

“Conservatism is the better way to go,” he said.

RTI International sets price for sale of stock

PITTSBURGH — RTI International Metals has set the price for an upcoming sale of common stock at $19.50 a share. RTI, which has offices and a plant in Weathersfield Township, said it has increased the size of the offering from 5 million shares to 6 million shares. Also, underwriters have an option to buy an additional 900,000 shares to cover over-allotments. The company expects to raise up to $127.8 million with the over-allotment shares before offering expenses.

From Vindicator staff reports