RSS | Print | Comments | Tell a Friend | Larger Text | Smaller Text | Bookmark and Share

Local News

Saturday, February 20, 2010

Progress Edition: Banks, credit unions: We're making loans
By DENISE GRANT

STAFF WRITER

It turns out the dark cloud that has been plaguing the banking industry may have a silver, or even gold, lining, and bankers say 2010 is going to be a better year.



KeyBank

"Our businesses, our families and our country have been dealing with what is undoubtedly the worst period of economic darkness that we have experienced in our lifetimes. Fortunately, it appears that we may have turned the corner and can see the light at the end of the tunnel," said Jim Hoffman, president of KeyBank, Northwest Ohio.

Hoffman said KeyBank is well positioned to help its clients take advantage of the coming recovery because the bank has taken steps to strengthen its capital position and control costs.

All of these efforts are paying off, Hoffman said, as evidenced by the latest Federal Deposit Insurance Corp. market share numbers. KeyBank is number one in market share in northwest Ohio, with deposits increasing by 11 percent in the last year.

"This is proof that people are confident in the direction Key is headed," he said. ""¦ We have invested in and reshaped our businesses and are on the right track to emerge as a strong, competitive company. There's a misperception that banks are not lending, but that is not true. Key originated $32 billion in new or renewed loans to consumers and businesses in 2009," Hoffman said.

While the economy remains a challenge, it is stabilizing, Hoffman said.

"We'll know we're fully out in the daylight again when people can confidently say 'I'm confident I have a job. The value of my house is stable or increasing, and I have money to send my children to school,'" Hoffman said.

Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $97 billion. BusinessWeek magazine named Key the top bank on its 2009 "Customer Service Champ." Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.

On the Net:

www.key.com



Commercial Savings Bank

Robert Beach, president and CEO of Commercial Savings Bank, said the company saw extraordinary growth in deposits in 2009.

Deposits grew by more than $33 million, or 14 percent, during the year.

"Deposits help not only the depositor, but also provide funding critical for making loans," said Beach. "In essence, when you deposit your money with us, you're also investing in the communities we serve."

He described Commercial Savings as a "strong, independent community bank."

Beach said, "It's hard to open a paper or surf the Web without seeing the litany of complaints people have against big banks: taking taxpayer money, taking irresponsible risks, not lending to small businesses, and so on."

"Commercial Savings Bank didn't take those risks or taxpayer money. And we're not waiting on the government to tell us we need to do more lending," Beach said.

He said the bank's loan portfolio rose by about $30 million or 15 percent.

"The vast majority of this increase is attributable to loans we made to small businesses and farms within our markets, providing those businesses the capital they need to lead us down the path to recovery," said Beach.

Commercial Savings also has a strong indirect loan program with auto dealers.

"It is important that we support all of our local businesses through any economic environment," he said.

In 2009, Commercial Savings opened a full-service branch in Arlington.

Established in 1920, Commercial Savings Bank operates offices in Findlay, Carey, Upper Sandusky, Harpster, Marion, Arlington and Worthington. Commercial Savings Bank is a subsidiary of Commercial Bancshares.

On the Net:

www.csbanking.com



Citizens National Bank

"Even though the stock market and big banks are recovering, with the help of the government, many of our small businesses on Main Street are still not healthy," said Cindy K. Scott, marketing director for Citizens National Bank.

She said companies have lost sales and investment value and are having a hard time "cash flowing" operations.

"Major companies are paying down debt and downsizing their operations causing their suppliers to get into trouble with fewer sales opportunities," Scott said.

Scott said as banks continue to work out of problem loans and regulation intensifies, Citizens National will "continue adapting to what the new norm will be in this economy."

"Once businesses are comfortable with their cash flow again and they see a consistent increase in sales over a period of time, they will be confident enough again to develop expansion plans and need credit," Scott said. "Seeing a reduction in the unemployment numbers will be a key indicator."

In 2009, many of the changes at Citizens National revolved around improved technology and online services. The bank added live chat to its Web site and a messenger service, which allows customers to set up e-mail alerts regarding their checking and savings account balances and transactions.

"Realizing the power of social media, we launched a Facebook page which focuses on Citizens National Bank's community involvement and also a group on LinkedIn, which highlights business information," she said.

Citizens National also upgraded its remote check deposit for businesses and launched an improved bill payment service.

More than 50 percent of Citizens' customers now receive their statements either by e-mail or online.

"As we move forward into 2010 many changes in our industry will be determined by legislation," Scott said.

Citizens National Bank, now celebrating its 90th anniversary, has seven locations, including offices in Findlay and Bluffton.

On the Net:

www.cnbohio.com



Chase Bank

Finding the right "Way Forward" for customers, shareholders and employees is the number one priority at JPMorgan Chase in 2010, said Nancy L. Norris, media relations spokesperson.

"As we move forward, we believe that customers, employees and shareholders will benefit as we do the right thing by our customers and the communities we serve," Norris said.

She said Chase is working to keep people in their homes. The bank has opened 51 Chase Homeownership Centers to provide face-to-face help to thousands more homeowners who are struggling with their mortgage payments. Homeowners who need help can also call 866-550-5705.

Since 2007, Chase has initiated more than 900,000 actions to prevent foreclosures through its programs and through government mortgage modification programs. During 2009 alone, Chase offered approximately 600,000 new trial loan modifications to struggling homeowners. Of these, 89,000 loans have achieved permanent modification.

Norris said Chase is lending, too. In the first three quarters of 2009, it extended 586,014 total new loans and lines of credit to Ohio consumers and small businesses.

Chase is Ohio's eighth largest employer, and the state's largest employer in financial services, Norris said. More than 19,000 employees live in Ohio and work in more than 300 locations around the state.

"To show our commitment to Ohio, JPMorgan Chase announced in June 2009 that we will add at least 1,150 jobs in Columbus and Westerville within the next three years," she said.

The bank originated more than 64,400 small business loans totaling nearly $892 million last year, of which 13 percent were made to businesses located in low- or moderate-income communities.

She said Chase also made more than 27,000 mortgage loans totaling $3.8 billion, of which 35 percent were to low- or moderate-income borrowers, or for homes located in low- or moderate-income communities. Also, Chase provided more than $108 million in community development loans and investments, she said.

Chase contributed more than $5.4 million to Ohio charities in 2009.

On the Net:

www.chase.com



Hancock Federal Credit Union

Officials at Hancock Federal Credit Union say their business has stayed strong by continuing to use safe and sound practices "in all areas," as it has done since first opening its doors in 1939.

"This has allowed us to have a very strong capital reserve. Hancock Federal Credit Union continues to earn a five-star (superior) rating from BauerFinancial, an independent bank research firm," said Ann Whitman, a spokesperson for the credit union.

The credit union serves all persons who live, work, worship or attend school in Hancock County and their immediate family members. The credit union's "core mission" is to provide its members with quality affordable services that enable them to meet their financial goals, Whitman said. The credit union also works to educate youth to enable them to become wise consumers and savers.

"Preserving the world's resources is of great importance to us all, therefore Hancock Federal Credit Union is encouraging members to use services that will do just that by utilizing the credit union's online banking, e-mail statements and online bill payment services, as well as purchasing energy efficient cars and products whenever possible," Whitman said.

On the Net:

www.hancockfcu.com



First Federal Bank

"First Federal continued to build on our philosophy of local people and local decision-making," said Greg Allen, president of the bank's southern market. "The involvement of our local bankers in our community and the many years of knowledge and experience they bring allows First Federal to offer innovative solutions to our clients' needs."

First Federal has three banking centers in Findlay and one in McComb. In 2009, the staff at these four banking centers opened more than 2,400 accounts, helping First Federal reach the $140 million mark in deposits and become the third largest depository in Hancock County.

The bank also financed 554 mortgages, amounting to more than $90 million in home loans. It also reached $191 million in commercial loan balances.

"Despite the current conditions, First Federal remains a profitable and well-capitalized bank," Allen said. "... We are positioned to weather the current economic storm, no matter how long it lasts."

On the Net:

www.firstfederal.com



First National Bank

Vicki L. Rossman, assistant vice president, marketing director and training officer at First National Bank, said 2009 "was proof that there will no longer be business as usual in the banking industry."

"Weak local and national economies and the continuing mortgage crisis caused significant stress in the financial world. Bailouts, TARP, AIG, automobile industry problems, increased unemployment and stimulus packages are all items that we hope will soon be in our rearview mirror," Rossman said. "We must remain focused as a nation and remember our economy is cyclical."

Rossman said when the economy is down, the knee-jerk reaction of "our politicians" is to point fingers and throw money at the situation.

Despite the trouble, Rossman said First National has reason to be optimistic about 2010.

"First National Bank experienced a 14.5 percent growth in deposits in 2009, along with an increased capital position and a strong loan portfolio," Rossman said. "Our stock price has remained strong in a time when many stock prices have fallen."

First National Bank was established in 1919 in Pandora. Additional offices are located on Tiffin Avenue in Findlay and on Cherry Street in Bluffton.

On the Net:

www.e-fnb.com



Old Fort Bank

"The Old Fort Banking Company is well capitalized, tightly regulated and more risk adverse than big banks, and we will continue to make loans in the communities we serve," said Michael C. Spragg, president and chief executive officer of the Old Fort Banking Co.

Spragg said, "In spite of the trouble on Wall Street, Old Fort Bank remains committed to taking deposits and making loans on Main Street. We take pride in our communities and our role in keeping our local economies vibrant and healthy."

While local communities and the country as a whole are facing great challenges, Spragg said Old Fort Bank prides itself on being one of the few locally owned and operated community banks in the area.

"The involvement of our local bankers in our community along with the many years of experience and knowledge they bring, allows Old Fort Bank to focus our attention on businesses, families and organizations in our local markets," said Spragg.

Keeping clients connected to their finances is one of the bank's focuses for 2010, he said. The bank plans to introduce mobile bank and update its Web site.

The Old Fort Banking Co. has been serving clients since 1917. The $400 million bank currently has nine financial centers in Bettsville, Clyde, Findlay, Fostoria, Fremont, Old Fort and Tiffin. The bank also operates a loan production office in Centerville and a mortgage loan production office in Xenia. The Old Fort Banking Co. is a subsidiary of Gillmor Financial Services.

On the Net:

www.oldfortbank.com



Clyde Findlay Area Credit Union

Jenny Schaub, marketing manager for the Clyde Findlay Area Credit Union, said her company has "maintained business" through the recession.

"Prior to the economic downturn, we did not make risky business decisions and in turn, this has helped us to maintain our business-as-usual position," Schaub said. "It's been our focus to continue to develop new products and services that our members need at this uncertain time."

Schaub said the credit union continues to finance member purchases.

"While we have had to decrease some of our savings rates, we have done so in order to preserve the integrity of our members' money," Schaub said. "We pride ourselves on doing the right thing for our members. ... It is their money and we are proud to say that we have weathered this economic downturn with responsible lending and a focus on our members as the owners of our credit union."

On the Net:

www.cfacu.org



Fifth Third Bank

Officials at Fifth Third Bank said while the "mood is shifting" from talk of financial doom to talk of recovery, there is still work to be done.

Mark Cassin, senior vice president of Fifth Third Bank, said for consumers, now is the time to take greater control of finances.

"It is important to establish a savings plan. Your savings should cover six months of living expenses, even if your job is secure. Make saving automatic. Have a portion of each paycheck automatically deposited into a savings account," Cassin said. "Direct deposit makes it less likely you'll be tempted to use the money for other purposes."

Cassin said it is also a good time to consider buying a home or refinancing a mortgage.

"Americans spend most of their money on housing. If you own a home, you may want to consider refinancing your mortgage. Rates are low and one percentage point may make a huge difference in your payments," he said.

The Worker, Homeownership and Business Assistance Act of 2009 features tax credits for both first-time and repeat homebuyers. For complete information and eligibility, visit www.irs.gov.

On the Net:

www.53.com



Huntington

Huntington Bank has 600 offices, 1,400 ATMs and employs 11,300 people across six states, but says its goal is to be "the local bank."

"To us this means understanding the needs of our customers and communities through more local decision-making, responsiveness and flexibility," said Shannon K. Loar-Tenney, regional marketing and community relations manager for Huntington.

"At the same time our customers have access to the sophisticated products and systems of a large bank," she said.

Tenney describes Huntington Bank as both sophisticated and generous.

"Additionally, we understand that to be successful, the communities in which we operate must also be successful," Tenney said. "We have a strong history of giving back to the community through financial and in-kind donations as well as through a strong core of associate volunteers."

On the Net:

www.huntington.com



Millstream Area Credit Union

Karen Reams, president and CEO of the Millstream Area Credit Union, said the credit union is seeing a lot of its members recovering from the economic downturn.

"We have helped many of our members through their job loss and layoffs; and will continue to help them. It's been very difficult for many to balance their debts with their decreased income," Reams said.

"We will know it's business as usual when the unemployment rate decreases in Hancock County," Reams said.

Reams said credit unions are lending to union members and member businesses.

"And have done so with vigor during the recent economic slowdown," Reams said. "Although member business lending only represents 2.7 percent of all credit union loans from September 2008 to September 2009, it is becoming an increasingly important part of a credit union's suite of products."

"Business lending at credit unions is increasing as Ohio businesses looking to grow struggle to attain credit," she said.

Millstream Area Credit Union is a $28 million credit union, serving members in six counties: Hancock, Allen, Hardin, Putnam, Seneca and Wood. The credit union has two locations and eight ATMs. Millstream Area Credit Union is a part of the Shared Branching Network, with more than 4,000 branches nationwide.

On the Net:

www.millstreamcu.com

Home Savings and Loan chose not to participate in this year's Progress Edition story.

Grant: 419-427-8412,

Send an e-mail to Denise Grant


Subscribe to The Courier.
Comment on This Story
NOTE: Comment moderation has been enabled. If you see a comment that violates our Electronic User Agreement, please e-mail webmaster@thecourier.com. Thank you. If you are having problems viewing this Web page, please contact our Internet Department to help us diagnose and correct the problem. We may contact you for more information. Thanks in advance.
Your e-mail address will not be displayed on this website or shared with anyone. It is used by our online editor for contacting purposes.
Comments are moderated by The Courier according to its Electronic User Agreement within one business day. Comments that slander others or include language that violates the agreement will be rejected. All comments that impart opinion and information are welcome.
   NEWS VIDEO

Benton Ridge Shooting

This video, released by the Hancock County Prosecutor's Office, shows the shooting of a Lima man who led authorities on a three-county chase ending Aug.24 in Benton Ridge. Be cautioned, the video contains graphic content.
   SPECIAL SECTIONS
Summer Coupons
   WEEKEND
USA Weekend

ANDERSON COOPER: Five years after Hurricane Katrina, the CNN reporter returns to New Orleans as the Gulf Coast faces even newer challenges.


Roses are red...

SOLUTIONS, NOT PROBLEMS: The University of Findlay plays host to competitive sailor who is a quadruple amputee.

ALSO IN WEEKEND: Area events,
prep boys and girls soccer and a trip to Niagra Falls.

   STAY IN TOUCH
The Courier on Facebook
   VIRTUAL VILLAGE
TisaWee Farm

Far Flung Guest Book

Virtual Village
   PHOTO GALLERY
Randy's Seen

IMAGE BLOG: Go behind the scenes with Courier photographer Randy Roberts.


You can purchase photographs from The Courier through our easy-to-use online system. Get prints, mousepads, T-shirts and more!

   LOCAL NEWS
  LATEST COMMENTS Last 10 comments submitted by our readers...
SICK OF THE WHINERS wrote in article "31 charged in Hardin drug probe":
DRUG BUST
“ Kenton has alot more drugs than Findlay!!! To those of you who don't like Hancock county, LEAVE! Everytime law enforcement in... ” Read More...
9/2/2010 11:19:09 AM
The Layman wrote in article "Parole denied in murder case":
Out of control
“ I'm sorry but there are way too many personal attacks allowed on this forum. You invalidate your point when you stray from the f... ” Read More...
9/2/2010 11:08:44 AM
j wrote in article "Many winners named as Hancock Fair opens":
Good but little expensive
“ The fair was interesting, but at $5 for the more popular rides on the expensive side, same with the food, many people commented... ” Read More...
9/2/2010 10:37:10 AM
JM wrote in article "McComb couple is serious about fair competition":
Very nice!
“ What a lovely article. Will have to check out their goods at the fair. ” Read More...
9/2/2010 10:21:42 AM
Ed wrote in article "Shooting video released":
Dirt bag...
“ A head shot would have put an end to the both dirt bag's chance of getting more money. NATE: could it be that you have some fir... ” Read More...
9/2/2010 9:53:26 AM
Yfkm wrote in article "Heroin outbreak":
Denial
“ To Tony and TL Every good citizen, parent and public official advocates the eradication of drugs from our communities; you are n... ” Read More...
9/2/2010 9:08:20 AM
Penny Musgrave wrote in article "Shooting video released":
Benton Ridge Shooting
“ Although I am all for catching the criminal, I don't condone what was done to this guy. They converged on him like gangbusters b... ” Read More...
9/2/2010 8:43:07 AM
Yfkm wrote in article "Parole denied in murder case":
Unqualified reassurance
“ To Tony - here is another example of your inability to see situations as they really are. It is obvious that you are so self in... ” Read More...
9/2/2010 8:42:45 AM
JP wrote in article "Pigskin Picks":
Wood Shed???
“ "Bubba," why would a Tiger take a Polar Bear to the wood shed? Wouldn't it be more likely that: Tigers knock Polar Bears into a... ” Read More...
9/2/2010 7:16:48 AM
poor victim!!!!! wrote in article "Shooting video released":
Nate
“ Nate your a moron and obviously do not know a thing about use of force. Also most taser cartridges carried have a 15 ft to 35 f... ” Read More...
9/2/2010 7:15:05 AM
  U.S. Headlines
  World News
  Ohio News
News Briefs Firefighters discover 20 marijuana plants in house
After fighting a house fire early Monday at 815 Howard St., firefighters found 20 marijuana plants in the residence.

"They ran across it and called us," said police Sgt. Justin Hendren with the Hancock County METRICH Drug Enforcement Unit.

Police seized all 20 plants, and Hendren said charges are pending.

High-powered growing lights, fans, and a box filled with dried marijuana were also found in the house, according to a police report.

Investigators said an electrical short started the fire before 3 a.m. Monday.

The blaze caused an estimated $12,000 in damage to the residence, owned by Amanda Crawford. No one was injured, according to the Findlay Fire Department.

Carey announces holiday closing
CAREY -- Carey offices, including administrative, income tax and utilities, electric, wastewater treatment plant, and public works, will be closed Monday in observance of Labor Day.

The curbside recycling program will be held Tuesday through Thursday, Sept. 7-9.

Findlay trooper named sergeant
Trooper Jacob L. Fletcher, assigned to the Findlay post of the State Highway Patrol, was promoted to sergeant Wednesday by Patrol Superintendent Col. David Dicken.

With the promotion, Fletcher will stay at the Findlay post and serve as an assistant post commander, according to the patrol.

Fletcher began his patrol career in 2002 after graduating from the 139th Academy class and has been assigned to the Findlay post since.

Owens announces holiday schedule
The Toledo and Findlay campuses of Owens Community College will be closed Saturday through Monday for the Labor Day holiday.

There will be no classes and the college offices will be closed.

Classes will resume and offices will open again on Tuesday.

Holiday changes ad deadlines
The Courier won't be published on Monday, in observance of the Labor Day holiday.

Because of the holiday, some advertising deadlines have been moved up this week:

Black and white display advertising for Tuesday's newspaper must be placed by noon Friday. Display advertising for Wednesday's newspaper must be placed by 2:30 p.m. Friday.

Color display advertising for the Thursday, Sept. 9 newspaper must be placed by Friday.

Classified advertising and City and Country advertising for Saturday's newspaper must be placed by 2 p.m. Friday. Classified ads for Tuesday's newspaper must be placed by 2:30 p.m. Friday.

Courier business and advertising offices will close at 3 p.m. Friday for the holiday.