Talmer reports income increase

Talmer reports income increase

TROY, MICH.

Talmer Bancorp Inc. reported third-quarter 2015 net income of $20 million, compared with $17.5 million for the second quarter of 2015 and $19.5 million for the third quarter of 2014.

Earnings per diluted common share were $0.27 for the third quarter of 2015, compared with $0.23 for the second quarter of 2015 and $0.26 for the third quarter of 2014.

In addition, the board of directors of Talmer declared a cash dividend on its Class A common stock of $0.01 per share Oct. 28.

The dividend will be paid Nov. 20 to Class A common shareholders of record as of Nov. 9, 2015.

Ford recalls 129,000 SUVs

DETROIT

Ford recalled 129,000 midsize SUVs in parts of the U.S. and Canada to fix potential fuel leaks.

The company says the recall covers the 2009 and 2010 Ford Edge and Lincoln MKX.

Ford says it doesn’t know of any fires caused by the problem.

Dealers will inspect the fuel tanks and repair or replace them at no cost to customers.

BMW’s Mini recalls 86,000 vehicles

DETROIT

BMW’s Mini brand has recalled more than 86,000 cars because the power steering could fail.

The recall covers the Mini Cooper and Cooper S models from 2002 to 2005. BMW says in documents filed with regulators that the power steering can fail because of manufacturing or other issues.

If that happens, manual steering remains, but it would take greater effort to steer.

The National Highway Traffic Safety Administration began investigating the cars in 2010 after getting 339 complaints including five minor crashes and three fires involving melted wires.

Growth report expected to show slumping economy

WASHINGTON

The U.S. economy has resembled an especially dizzying roller-coaster ride this year, with a hurtling dive followed by a steep climb leading to yet another slide.

Today, when the government issues its first of three estimates of growth in the July-September quarter, it’s expected to show an economy slumping from global weakness and reduced corporate stockpiling – but poised to rise again.

Economists’ consensus forecast, according to FactSet, is that the economy eked out just a 1.7 percent annual growth rate last quarter, a subpar pace by any standard.

“We got a lot of weakness during the summer from a widening of the trade deficit and a draw-down of inventories,” said Mark Zandi, chief economist at Moody’s Analytics.

“But I think the consumer will lead the way to stronger growth in the fourth quarter.”

Wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., .128.990.26

Aqua America, .71 28.590.03

Avalon Holdings,1.920.12

Cortland Bancorp, .2414.60+0.26

Farmers Nat., .128.21-0.01

First Energy, 1.44 30.84-0.35

Fifth/Third, .5219.660.91

FirstMerit Corp., .6819.310.88

First Niles Financial, .208.520.00

FNB Corp., .4813.900.56

General Motors, 1.4435.220.25

General Electric, .9229.39-0.07

Huntington Bank, .24 11.350.45

iHeartMedia Inc.,3.500.00

JP Morgan Chase, 1.7665.501.86

Key Corp, .3013.900.58

LaFarge, .3417.00-0.30

Macy’s, 1.44 49.870.82

Parker Hannifin, 2.52 102.981.49

PNC, 2.0492.923.29

Simon Prop. Grp., 6.20205.71-0.48

Stoneridge 12.670.71

Talmer Bank, .04 16.910.31

United Comm. Fin., .10 5.740.13

Selected prices from Wednesday’s 4 p.m. close.