UCFC reports income increase

UCFC reports income increase

YOUNGSTOWN

United Community Financial Corp., parent company of Youngstown-based Home Savings Bank, reported fourth-quarter 2018 net income at $9.6 million, up from $4.5 million in the fourth quarter of 2017.

Net income for year-end 2018 was reported at $37.2 million, compared with $21.8 million the year prior. The company reported 8.9 percent loan growth, 8.3 percent average customer deposit growth and a 9.4 percent increase in net interest in 2018.

“Strong fourth-quarter core performance, combined with a significant impaired asset recovery and VISA stock related income recognition, provided the opportunity to undertake balance sheet restructuring during the quarter,” said Gary Small, president and CEO. “We enter 2019 well-capitalized, with a strong balance sheet and well-positioned to address new opportunities.”

Sweeney to donate $32K to groups

BOARDMAN

Sweeney Chevrolet Buick GMC will donate $32,350 to the Boys & Girls Clubs of Youngstown and Salvation Army of Mahoning County at 1:30 p.m. Thursday at Sweeney Chevrolet, 8010 Market St.

This past December, Sweeney participated in its annual Operation Santa campaign, pledging money from new vehicle sales to two local charities.

Sweeney donates $50 from each Chevrolet, Buick and GMC new vehicle purchase during the promotion to the Boys & Girls Clubs of Youngstown and Salvation Army of Mahoning County.

Since 2014, Sweeney has donated more than $100,000 from the Operation Santa campaign to local charities.

Gas prices hold steady in NE Ohio

Gas prices in Northeast Ohio are holding steady this week at $1.97 per gallon, according to AAA East Central’s Gas Price Report.

On the week, states in the Great Lakes and Central region saw prices drop a penny, hold steady or increase. Six states have more expensive gas price averages to start the work week, including Ohio, which was up a penny.

In Youngstown, the average price was $1.95 per gallon.

Volvo recalls 200,000 cars

COPENHAGEN, Denmark

Swedish automaker Volvo Cars, owned by China’s Geely holding company, says it is recalling 200,000 diesel cars worldwide because the fuel line may crack, saying it is “a preventive safety measure.”

Group spokeswoman Annika Bjerstaf said, “What may happen is that the fuel may leak out into the engine compartment over a long period of time.”

She said Volvo Cars “however, has not received any reports of incidents surrounding this.”

Bjerstaf said Tuesday the recall covers the Volvo V40, S60 and V60 and their Cross Country versions. Also covered are the V70 and XC70, S80, XC60 and XC90 built in 2015 and 2016.

Staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., 27.81‚àí1.46

Aqua America, .20 33.96‚àí0.12

Avalon Holdings,2.87‚àí0.14

Chemical Bank, .2842.48‚àí1.16

Community Health Sys, .213.83‚àí0.22

Cortland Bancorp, .1119.220.00

Farmers Nat., .0712.84‚àí0.26

First Energy, .36 38.75‚àí0.12

Fifth/Third, .1627.560.56

First Niles Financial, .057.740.00

FNB Corp., .1211.450.01

General Motors, .3838.15‚àí0.46

General Electric, .128.66‚àí0.44

Huntington Bank, .11 13.52‚àí0.07

JP Morgan Chase, .56102.94‚àí1.66

Key Corp, .1116.900.05

Macy’s, .38 24.90‚àí0.89

Parker Hannifin, .76158.35‚àí4.14

PNC, .75124.58‚àí0.67

Simon Prop. Grp., 2.88173.26‚àí0.70

Stoneridge 26.37‚àí0.56

United Comm. Fin., .06 9.140.02

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