Economy

Credit unions post highest loan growth since 2005

Credit unions posted strong overall lending numbers in the second quarter of 2014 according to data revealed during Callahan & Associates’ 2Q14 Trendwatch. Credit unions as a whole posted their highest loan growth rates since 2005, experiencing nearly 10

Gov. Corbett announces updated 12-year transportation program; more projects to be funded because of Act 89

Gov. Tom Corbett announced that the State Transportation Commission, building on the Act 89 transportation plan, has updated Pennsylvania’s 12-year transportation program with a sizeable boost in much needed transportation improvements. The new plan antic

F.N.B. Corporation declares dividend of 12 cents on common stock payable Sept. 15

F.N.B. Corporation (NYSE: FNB) on Aug. 21 announced that its board of directors declared a quarterly cash dividend of 12 cents per share on F.N.B. Corporation’s common stock. The dividend is payable on Sept. 15 to shareholders of record as of the close of

National Retail Federation asks U.S. Supreme Court to review swipe fee ruling; Boscov’s joins in suit

On Aug. 18 the National Retail Federation told the U.S. Supreme Court that the debate over debit-card swipe fees is “of staggering importance” and asked the justices to review a ruling that left the Federal Reserve’s cap on the billions of transactions co

Rail freight projects approved for state funding, sustains nearly 34,000 jobs

Gov. Tom Corbett announced that 39 rail-freight improvement projects, that will help sustain nearly 34,000 jobs across Pennsylvania, were approved for funding from two PennDOT-managed programs. “Transportation is a proven economic driver and these investm

ICBA to regulators: Institute a more practical and streamlined approach to community bank quarterly call reports

As part of the Independent Community Bankers of America’s (ICBA) war on regulatory burden, the association on Aug. 11 sent a letter to Federal Reserve Chairman Janet Yellen; Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg; and

SNL Financial ranks the top 20 European banks by market capitalization

HSBC Holdings PLC and Banco Santander SA held on to their top positions in SNL Financial’s new league table of Europe’s 20 largest banks by market capitalization. At €141.31 billion as of June 30, HSBC’s market cap was 5.72 percent lower since SNL’s

Monroe County Salvation Army will host free estate planning seminar Sept. 10 in East Stroudsburg

There are openings available for a free estate-planning seminar on Wednesday, Sept. 10 beginning at noon at the East Stroudsburg Salvation Army Citadel, East Stroudsburg. Reservations are required and lunch is provided. Salvation Army guest presenters wil

U.S. Commercial Service to connect Pennsylvania firms with gGlobal markets at ‘Discover GM’ forum in Charlotte, N.C. Oct. 29-31

The U.S. Commercial Service of the U.S. Department of Commerce’s International Trade Administration will host the 2014 Discover Global Markets (GM) Forum -- The Americas conference in Charlotte, North Carolina Oct.29-31, with the goal of building U.S. exp

National Penn ranked ‘28th largest Ag lender’ in the U.S. by FDIC

National Penn Bancshares Inc. (Nasdaq: NPBC) announced it has been ranked the 28th largest agricultural business lender in total dollar volume, according to the most recent data from the Federal Deposit Insurance Corporation. National Penn’s agricultural

Dimeco Inc. announces second-quarter earnings

Dimeco Inc. (DIMC), parent company of The Dime Bank, reported net income of $2.9 million for the first six months of 2014. This resulted in a return on average assets of .97 percent, a return on average shareholders’ equity of 9.20 percent, and earnings p

New law protects Pennsylvanians recovering lost money, items; unclaimed property ‘finders’ will now be subject to state approval, oversight

Legislation enacted last month will guard Pennsylvanians against fraud and deceptive practices when they employ a service to help them claim their money or property that has been turned over to the state, said Treasurer Rob McCord. With changes made throu

Five Below, Under Armour, Wayfair are among fastest-growing retailers in the U.S., according to STORES’ ‘Hot 100’ retailers list

At first glance the list of the nation’s fastest-growing retailers appears to be more of a hodgepodge of industry sectors than evidence of a single, defined trend. From grocery conglomerates and discount specialty stores to home furnishing and athletic we

GAO report: No ‘clear evidence’ of continued existence of ‘too big to fail’ funding advantage for large bank holding companies in 2013

Report published: July 31. What GAO found: While views varied among market participants with whom GAO spoke, many believed that recent regulatory reforms have reduced but not eliminated the likelihood the federal government would prevent the failure of on

Mall at Steamtown now owned by mortgage lender What is its future fate?

By Phil Yacuboski The Mall at Steamtown is now owned by its mortgage lender. In mid-July, the mall went up for sheriff’s sale and the only person to bid was Scranton businessman, Bob Bolus who planned to turn the mall into a casino. His bid was rejected b

Answers to your FAQs Should I go for early retirement?

By Pete Shelp Question: Should I accept my employer’s early retirement offer? Answer: The right answer for you will depend on your situation. First of all, don’t underestimate the psychological impact of early retirement. The adjustment from full-time wor

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DIME BANK Each year The Dime Bank holds a dinner event to recognize those among us who are celebrating a five-year incremental anniversary of employment with The Dime Bank. In addition to the social portion of the evening, each celebrant receives a specia

PBA praises passage of amendments to mechanics’ lien law

On July 9, Gov. Corbett signed Senate Bill 145 into law as Act 117. The act amends the Pennsylvania Mechanics’ Lien Law to provide that mechanics’ liens are subordinate to an open-end mortgage if at least 60 percent of the proceeds of open-end mortgages a

Pennsylvania’s rural roads, bridges have high rates of deficiencies, traffic fatalities

America’s rural heartland is home to nearly 50 million people, and its natural resources provide the energy, food and fiber that support the nation’s economy and way of life. But, a new report finds that the nation’s rural transportation system, which is

Moody’s downgrades Pennsylvania’s general obligation rating to Aa3 from Aa2; outlook stable

Moody’s Investors Service has downgraded the Commonwealth of Pennsylvania’s outstanding $11.1 billion general obligation bonds to Aa3 from Aa2. It also downgraded the ratings assigned to $2 billion of appropriation-backed bonds by one notch, as well as th
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