Thursday, May 15, 2014
Huntington buys Bank of America branches
COLUMBUS
Huntington Bancshares Inc. announced Wednesday that it purchased 13 Michigan branches of Bank of America after it said last month that it would purchase 11 branches from the same bank.
The 13-branch purchase is for 11 locations in the Monroe and Flint markets and two locations in Holland and Muskegon, resulting in about 40 new Huntington jobs in Michigan, where the company has added 500 positions between 2011 and 2014.
As a part of the acquisition, Huntington will purchase about $500 million in deposits, for a deposit premium of 3.5 percent based on deposit balances at the time the transaction closes, which is expected to be in the second half this year. No loans are included in the purchase.
YOUNG Expo set
YOUNGSTOWN
The Youngstown/Warren Regional Chamber will host its YOUNG — Youngstown, Ohio Utica & Natural Gas — Conference & Expo on Sept. 10-11, which will focus on Mahoning Valley manufacturers.
The two-day event will kick off with a 10:30 a.m. brunch and noon golf outing at the Mill Creek Golf Courses in partnership with Evets Oil & Gas Construction Services. An evening of casino-themed entertainment will follow with free beer, wine and hors d’oeuvres by Blue Wolf Catering.
YOUNG will feature a job fair open to the public from 9 a.m. to noon Sept. 11 at the Covelli Centre, with a business-to-business trade show opening at 1 p.m. for registered attendees. Speakers will be announced at a later date.
For information on pricing and job-fair participants, check the chamber’s website at www.regionalchamber.com.
Vindicator staff/wire reports
Selected local stocks
STOCK, DIVIDENDCLOSECHANGE
Aqua America, .61, 24.69 —.10
Avalon Holdings,3.98—.18
Clear Channel, .61 23.57 .07
Cortland Bancorp, 12.24.00
Farmers Nat., .127.56 —.10
First Energy, 2.20, 32.40—.09
FirstMerit Corp., .64,19.31 —.50
First Niles Financial, .32,8.00.12
FNB Corp., .48,12.02—.30
General Motors,34.91—.24
General Electric, .76,26.75—.18
Huntington Bank, .20, 9.17—.21
JP Morgan Chase, 1.52,54.38—.24
Key Corp, .22,13.37—.44
LaFarge, 21.77 —.31
Macy’s, 1.00, 57.60—.24
Parker Hannifin, 1.80, 124.96—1.08
PNC, 1.76,83.20—1.58
RTI Intl. Metals,24.94—.47
Simon Prop. Grp.,4.60,174.21.92
Stoneridge 9.39 —.73
Talmer Bank, 13.30—.29
United Community Fin. 3.20—.13
Selected prices at 4 p.m. Wednesday. Provided by Stifel. Not to be construed as an offer or recommendation to buy or sell any security.