BUSINESS DIGEST || First National Bank of Pa. completes acquisition

First National Bank of Pa. completes acquisition

PITTSBURGH

First National Bank of Pennsylvania, the largest subsidiary of F.N.B. Corp., announced Monday that on April 22 it completed its acquisition of 17 Fifth Third Bank branch banking locations in the Pittsburgh metro area. Through this transaction, FNB has improved its Pittsburgh delivery channel.

FNB operates more than 100 locations in the Pittsburgh region, has exceeded $20 billion in assets and is the second-largest bank based in Pennsylvania by assets with more than 300 locations across Pennsylvania, Ohio, Maryland and West Virginia.

Ohio gas prices up

COLUMBUS

Gas prices around Ohio are continuing to inch up.

The price per gallon in Ohio rose again over the past week and was up to $2.16 per gallon in Monday’s survey from auto club AAA, the Oil Price Information Service and WEX Inc.

That’s up 7 cents from last week and 21 cents from the state average a month ago.

This week’s mark still is about 36 cents less than what it was this time last year.

The national average price in Monday’s survey was $2.13, compared with $2.02 a month ago. The national average price this time last year was $2.52.

Bob Evans closes 27 restaurants

NEW ALBANY, OHIO

Bob Evans Farms Inc. announced Monday it is closing 27 Bob Evans Restaurants.

Twenty-one of the restaurants are owned, and six are leased locations. The owned locations closed April 23-24, and the remaining leased locations are expected to close during Bob Evans’ fiscal year 2017, which runs from April 30 through April 28, 2017.

Two restaurants in Ohio were affected: one in Riverside and another in Toledo.

Two restaurants in Pennsylvania also were affected: one in Exton and another in Pittsburgh.

Saed Mohseni, president and CEO, said the locations affected were not meeting performance expectations.

The company expects proceeds of about $20 million from the sale of the owned properties. Although restaurants subject to closure generated $30 million of annual revenue, this action is expected to improve annual operating income by about $1 million.

U.S. government closes Honda probe

DETROIT

The U.S. government has closed an investigation into Honda’s failure to report deaths and injuries, saying that the company has met all of its obligations.

The National Highway Traffic Safety Administration says in documents posted on its website Monday that Honda paid a $70 million fine and took steps needed to make sure similar failures don’t happen again.

The government fined Honda in December 2014 in what then was the largest civil penalty levied against an automaker.

The company admitted in a consent order that it didn’t report 1,729 complaints that its vehicles caused deaths and injuries, and that it didn’t report warranty claims. Many of the deaths and injuries were related to air-bag inflators made by Takata Corp.

Staff/wire reports