First Niles Financial posts income rise

First Niles Financial posts income rise

niles

First Niles Financial, the holding company for Home Federal Savings and Loan Association of Niles, recorded a net income of $147,000 for the quarter ending Sept. 30, up from $103,000 for the same period in 2009. The increase primarily was the result of an increase in non-interest income from a gain on the sale of investment securities.

Incubator to host website seminar

youngstown

The Youngstown Business Incubator will host a seminar, “Building Web Sites for (Nearly) Free,” Tuesday from 8 a.m. to noon at the incubator campus, 241 West Federal St. The workshop, part of the incubator’s ongoing Learning Lab series, will discuss strategies for building simple, low-cost websites. Topics will include software, free web-page templates, the trade-offs between free and cheap hosting, buying a domain name, tracking site visitors and submitting sites to Google. Tyler Clark, the incubator’s chief imagination officer, will teach the seminar. Small businesses and community organizations are encouraged to attend.

The event costs $55. Registration is required by Monday. To register, e-mail tclark@ybi.org.

3 companies recall 40,000 cribs

WASHINGTON

Three U.S. companies recalled more than 40,000 cribs Friday because of safety concerns raised by six child injuries.

The recalled Ethan Allen, Angel Line and Victory Land Heritage Collection 3-in-1 cribs have drop-sides that can detach because of faulty hardware or wear and tear, according to the Consumer Product Safety Commission. This can create a gap where young children can be trapped or suffocated.

A detached drop-side also can allow a child to fall out of the crib.

Drop-sides have been blamed in the deaths of at least 32 infants and toddlers since 2000 and are suspected in an additional 14 infant fatalities.

KeyCorp reports 3rd-quarter profit

CLEVELAND

KeyCorp reported a profit for the third quarter Friday in contrast to a loss a year ago, citing improved credit quality across its loan portfolios.

CEO Henry L. Meyer III said the bank has been working to lower its risk profile.

“Our balance sheet continues to reflect strong capital, liquidity and reserve levels,” Meyer said. “I believe the trends that we’ve reported today in pre- provision net revenue demonstrate the progress we have made.”

The regional banking company based in Cleveland said its net income available to shareholders amounted to $178 million, or 20 cents per share, in the three months ended Sept. 30.

That easily beat Wall Street estimates of 3 cents per share.

A year ago, it reported a net loss of $438 million, or 52 cents per share.

Vindicator staff/wire reports