Howard Hanna acquires Masters

Howard Hanna acquires Masters

canfield

Howard Hanna Real Estate Services expanded Monday with the purchase of Boardman’s Masters Real Estate. Howard “Hoby” Hanna IV, president of Howard Hanna Ohio, joined Eli Boulos of Masters Real Estate to sign the acquisition agreement at the Howard Hanna offices here. The merger is part of Howard Hanna’s growth plan in Northeast Ohio. The Pittsburgh-based firm is the fourth-largest real-estate company in the United States.

Cortland Bancorp posts $1.3M income

cortland

Cortland Bancorp, the holding company for Cort- land Banks, reported Monday a net income of $1.3 million for the second quarter of 2010, compared with a $4.6 million loss for the same quarter last year. The increase in net income primarily was due to a lower level of securities- impairment charges recorded in the second quarter of 2010, compared with the same period in 2009. The company posted a $613,000 impairment charge for the quarter ending June 30, compared with a $7.9 million charge in the same quarter last year.

The bank also noted an improved net-interest margin of 3.68 percent in the second quarter, up 21 points from the previous quarter and up 70 points from the second quarter of 2009.

Geithner vows fast action on new rules

NEW YORK

Treasury Secretary Timothy Geithner pledged on Monday to move with speed to implement the biggest overhaul of the financial system since the Great Depression. He said a top priority will be simplifying the complicated forms that consumers have to fill out to get credit cards, auto loans and mortgages.

“We will move as quickly as possible to bring clarity to the new rules of finance,” Geithner said in a speech to Wall Street executives and students at New York University’s Stern School of Business.

Vindicator staff/wire reports