Columbus lending – Columbus Chamber http://columbus-chamber.org/ Thu, 22 Jul 2021 15:55:17 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://columbus-chamber.org/wp-content/uploads/2021/05/cropped-icon-32x32.png Columbus lending – Columbus Chamber http://columbus-chamber.org/ 32 32 FirstEnergy to Pay $ 230 Million in Settlement in Ohio Corruption Case https://columbus-chamber.org/firstenergy-to-pay-230-million-in-settlement-in-ohio-corruption-case/ https://columbus-chamber.org/firstenergy-to-pay-230-million-in-settlement-in-ohio-corruption-case/#respond Thu, 22 Jul 2021 13:47:00 +0000 https://columbus-chamber.org/firstenergy-to-pay-230-million-in-settlement-in-ohio-corruption-case/ CINCINNATI (AP) – Federal officials say Akron-based FirstEnergy Corp. has agreed to a settlement that calls on the company to cooperate fully and pay a fine of $ 230 million. The US attorney’s office in Cincinnati and the FBI are scheduled to hold a media availability later Thursday morning on the deferred prosecution agreement. FirstEnergy […]]]>

CINCINNATI (AP) – Federal officials say Akron-based FirstEnergy Corp. has agreed to a settlement that calls on the company to cooperate fully and pay a fine of $ 230 million.

The US attorney’s office in Cincinnati and the FBI are scheduled to hold a media availability later Thursday morning on the deferred prosecution agreement.

FirstEnergy officials announced earlier this year that they were in talks with prosecutors over the deal and that it could affect the company’s revenue.

The company has been accused by the authorities of secretly funding a $ 60 million corruption program to help secure legislative passage of a billion dollar bailout for two nuclear power plants operated by a wholly owned subsidiary when the bill passed in July 2019.

Last year, FirstEnergy fired six senior executives, including CEO Chuck Jones.

the Jones’ dismissal, who initially denied any wrongdoing on the part of the company, appeared to be linked to a $ 4.3 million payment that FirstEnergy made in January 2019, supposedly to end a long-standing consulting contract. date with someone soon to be named Ohio’s premier utility regulator.

There is no doubt that the regulator was Sam Randazzo, a veteran public services lawyer and lobbyist, whom DeWine appointed chairman of the Ohio Public Services Commission in February 2019.

Wording on a loan document filed by the company that month suggested that Randazzo had helped the company after he became president of PUCO.


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Former Ohio House president says he quit the Republican Party against Donald Trump https://columbus-chamber.org/former-ohio-house-president-says-he-quit-the-republican-party-against-donald-trump/ https://columbus-chamber.org/former-ohio-house-president-says-he-quit-the-republican-party-against-donald-trump/#respond Mon, 19 Jul 2021 19:47:03 +0000 https://columbus-chamber.org/former-ohio-house-president-says-he-quit-the-republican-party-against-donald-trump/ COLUMBUS, Ohio – Cliff Rosenberger, a former Ohio House president who abruptly stepped down in 2018 amid an FBI investigation that led to no charges, said Monday he left the Republican Party over concerns about the GOP’s continued alignment with former President Donald Trump. “I’m a conservative, and I’m going to be a conservative,” Rosenberger […]]]>


COLUMBUS, Ohio – Cliff Rosenberger, a former Ohio House president who abruptly stepped down in 2018 amid an FBI investigation that led to no charges, said Monday he left the Republican Party over concerns about the GOP’s continued alignment with former President Donald Trump.

“I’m a conservative, and I’m going to be a conservative,” Rosenberger said in an interview Monday. “But if the Republican Party continues, what it appears to be, to support a guy like Donald Trump, I won’t have anything to do with it. So at this point I will consider myself as an independent.

Cleveland.com / The Plain Dealer contacted Rosenberger after a reader noticed that state voter records listed him as a Democrat. Public records show Rosenberger cast a Democratic ballot in the May 2020 primary, and Rosenberger said he did so to vote for Joe Biden.

Rosenberger said he might have considered voting for a Republican challenger to Trump had there been a legitimate one. He said he ended up voting for Biden, whom he met while working as a White House intern in President George W. Bush’s administration.

“I have decided that I am going to release a Democratic primary ballot. I’m going to support the guy who I think is more aligned with me and who will put the country in a better position, ”said Rosenberger. “I have no qualms about it.”

He said he believed Biden would at least try to govern in a bipartisan fashion, as he did with the currently proposed infrastructure bill that Ohio Senator Rob Portman is helping negotiate. Rosenberger said he had also heard from other Republicans who responded privately with sympathy to his posts criticizing Trump on social media.

“I can’t tell you how many people have said to me ‘Cliff, I believe the same as you, but I have to support the party,” said Rosenberger. “But I don’t sink that way.”

Rosenberger was one of the most powerful Republicans in the state when he stepped down in April 2018 after it became clear the FBI was investigating his travel and spending habits. The FBI raided his home the following month and a subpoena to Rosenberger’s government office made it clear that the federal government was investigating his dealings with lobbyists in the payday loan industry.

But the investigation has so far resulted in no charges. The FBI has since filed charges against one of Rosenberger’s successors, Larry Householder, accusing him of accepting bribes in exchange for helping pass a nuclear bailout bill. Householder, a Republican, pleaded not guilty. The FBI also investigated the Statehouse pay-to-play allegations. involving ECOT, the old online charter school, and a bill that would legalize sports betting, none of which has yet led directly to charges.

Rosenberger declined to comment on the investigation that led him to step down. Rosenberger’s attorney, David Axelrod, said he last spoke to federal officials about the case about three months ago.

“I asked the United States attorney’s office to close the case, and they refused. He has had the sword of Damocles over his head for three years, and it is time for it to end, ”said Axelrod.

A spokesperson for the FBI’s field office in Cincinnati said on Monday that the investigation was still ongoing.

Rosenberger has kept a low profile since leaving office, albeit via social media documented his many travels around the world in places like Antarctica and Brazil. He said on Monday that he enjoys being out of public life and said he is doing health care-related consultancy work.

He also said he had no plans to return to politics “anytime soon”.

“An innocent man has nothing to fear. I’m just going to spend time with my family and find new hobbies, ”he said.



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What Oregon gets in new Dave Iuli commit https://columbus-chamber.org/what-oregon-gets-in-new-dave-iuli-commit/ https://columbus-chamber.org/what-oregon-gets-in-new-dave-iuli-commit/#respond Sun, 18 Jul 2021 01:05:55 +0000 https://columbus-chamber.org/what-oregon-gets-in-new-dave-iuli-commit/ So what do the Ducks get with this engagement? At 6 foot 4, 320 pounds, Iuli has no shortage of height. But what makes him a particularly exciting prospect is his ability to combine power and mobility. At the next level, Iuli has the potential to be the elite when he shoots as a guard […]]]>


So what do the Ducks get with this engagement?

At 6 foot 4, 320 pounds, Iuli has no shortage of height. But what makes him a particularly exciting prospect is his ability to combine power and mobility. At the next level, Iuli has the potential to be the elite when he shoots as a guard and directs a throwback through the hole. Plus, once he hits the second tier, he shows his ability to punish opposing linebackers.

Iuli’s mobility and experience as a tackle also makes him an asset in protecting passes due to his ability to recover and recover additional rushers. But its versatility doesn’t stop there.

Iuli also has experience as a defensive tackle in high school and could potentially take shots from the other side of the ball if needed at some point in his career. It is a valuable asset in a class with limited remaining scholarships. Overall, it’s safe to say that Iuli is worthy of her 4 star status.

From a recruiting standpoint as a whole, Iuli’s decision likely marks the completion of Oregon’s offensive line class in 2022, at least for now. The Ducks started June with just one commitment from the JUCO prospect Percy Lewis, but have since added four more commitments to give them with a full squad.

Iuli nicely rounds out the class by adding an inner presence that was needed to team up with the group of talented tackles who had already joined the herd. The Ducks could wait here and be completely confident of their accomplishments by recruiting this group, although they still have a looming 5-star battle up front which I will mention in more detail below.

But let’s get back to today’s news.

It can be easy to overlook the importance of Iuli’s commitment to some. After all, Ducks fans have been spoiled for recruiting success under Mario Cristobal, and top notch pickups have become somewhat routine along the offensive line, especially since Alex Mirabal has taken over.

Cristobal has preached on the importance of the dominant offensive lineman since taking over and supported it by prioritizing them in recruiting, development and marketing. However, let’s not forget that this type of talent buildup is an outlier, especially in the Pac-12.

With the addition of Iuli, Oregon secured another elite class up front and confirmed that they will continue to widen the talent gap between themselves and the rest of the conference along the offensive line.

Speaking of the rest of the conference, this recruiting was a statement for Oregon against a Pac-12 rival in particular, the Washington Huskies. Iuli is from Puyallup, WA, a short drive from Seattle. There’s no getting around this, Washington should have had the geographic advantage over Oregon in this recruiting, and letting this talented prospect leave the state is a troubling sign to Jimmy Lake’s agenda.

Now, this passionate northern Pac-12 rivalry will move to a new focus on the recruiting track i.e. the 5-star offensive tackle. Josh Conerly Jr. Conerly is another Washington native from Rainier Beach High School in Seattle.

After a 2021 cycle that saw 5-star talent Emeka Egbouka and JT Tuimoloau leaving the state and choosing to play their college ball in Columbus, Conerly’s is a crucial recruiting for UW.

On the other side, Oregon has already landed an out-of-state headlining offensive tackle this cycle in 5-Star Kelvin Banks. The addition of Conerly would truly be an Oregon’s dream scenario and secure both sides of their line for years to come.

It’s still too early in the recruiting of Conerly for me to predict where he will end up, but both programs made the cut for his top 12 in early May and believe they are heavily involved until the end.

Ducks fans will surely be hoping the addition of Iuli will have an added edge in helping Oregon’s chances for Conerly.



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COVID grants, Mechanics Bank promotions, patent https://columbus-chamber.org/covid-grants-mechanics-bank-promotions-patent/ https://columbus-chamber.org/covid-grants-mechanics-bank-promotions-patent/#respond Sat, 17 Jul 2021 09:13:10 +0000 https://columbus-chamber.org/covid-grants-mechanics-bank-promotions-patent/ Local businesses encouraged to apply for COVID relief grants COLUMBUS – Applications are open for businesses and local sites in the form of grant programs to help Ohio industries recover from the COVID-19 pandemic. The initiatives were implemented by Senate Bills 108 and 109, legislation passed by the Ohio General Assembly. State Representative Marilyn John […]]]>


Local businesses encouraged to apply for COVID relief grants

COLUMBUS – Applications are open for businesses and local sites in the form of grant programs to help Ohio industries recover from the COVID-19 pandemic. The initiatives were implemented by Senate Bills 108 and 109, legislation passed by the Ohio General Assembly. State Representative Marilyn John (R-Richland County) supported both bills and co-sponsored SB 108.

The Ohio Restaurant, Entertainment and Accommodation Grant Relief Programs offer grants of $ 10,000, $ 20,000, or $ 30,000 based on the percentage of lost income over income 2019 versus 2020 revenues. The new Small Business Grants program offers grants of $ 10,000 to new small businesses in Ohio established as of January 1, 2020.

Each program will require applicants to have an OH | ID, and companies considering applying can get an OH | ID now, if they don’t already have one. Register on OH | ID (ohid.ohio.gov) by creating an account with a username and password. Click Create OH | ID Account to create an OH | ID account.

All four programs will be administered by the Ohio Development Services Agency. Program guidelines, terms and conditions, and required documentation are available at businesshelp.ohio.gov. For any questions, please email BusinessHelp@Development.Ohio.Gov.

Mechanical bank announces promotions

MANSFIELD – Mechanics Bank has promoted three employees to senior vice president.

David Baumann joined Mechanics in 2010 as Director of Human Resources and now holds the position of Director of Sales and Service, Human Resources and Facilities. Dave holds a BA from Franklin University and an MBA from Ashland University. Additionally, Dave is a graduate of the Ohio Bankers League Bank Management School and is currently attending the Graduate School of Banking at the University of Wisconsin-Madison.

Philippe mcclenathan

Philip McClenathan joined Mechanics in 2000, holding a number of positions over the past 21 years, many of which have focused in the consumer and commercial lending departments. Phil now holds the position of Senior Credit Officer and Commercial Lending Officer. Phil holds a bachelor’s degree in business administration from Mt. Vernon Nazarene University. He is a graduate of the Ohio Bankers League (OBL) School of Banking, OBL Bank Leadership Institute, University of Wisconsin-Madison Graduate School of Banking (GSB), and Financial Management School of the GSB.

Gregory Muméa

Gregory Mumea joined Mechanics in 2005 as Head of Residential Mortgages and now serves as Director of Residential Mortgages and Consumer Lending. Mumea holds a bachelor’s degree from Ohio State University.

Local patented companies, federal contract

WASHINGTON, DC – Mansfield’s Therm-O-Disc has been awarded a patent developed by six co-inventors for a “pressure sensor assembly and method of manufacturing a pressure sensor assembly.”



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Retaining customers, priority talents for Huntington executives after TCF merger https://columbus-chamber.org/retaining-customers-priority-talents-for-huntington-executives-after-tcf-merger/ https://columbus-chamber.org/retaining-customers-priority-talents-for-huntington-executives-after-tcf-merger/#respond Sat, 17 Jul 2021 04:54:28 +0000 https://columbus-chamber.org/retaining-customers-priority-talents-for-huntington-executives-after-tcf-merger/ Tthe $ 22 billion merger with TCF Financial Corp. brought new leadership to Huntington Bancshares Inc. in West Michigan, which focuses on retaining talent and customers while executing a massive corporate commitment to small businesses and underserved markets. Krista Flynn will work alongside John Irwin as Huntington’s regional chairman until the end of 2021, when […]]]>


Tthe $ 22 billion merger with TCF Financial Corp. brought new leadership to Huntington Bancshares Inc. in West Michigan, which focuses on retaining talent and customers while executing a massive corporate commitment to small businesses and underserved markets.

Krista Flynn will work alongside John Irwin as Huntington’s regional chairman until the end of 2021, when Irwin will retire after more than four decades in banking, nine of which as a banking leader in western Michigan.

Krista Flynn and John Irwin
COURTESY PHOTOS

As they prepare for the leadership transition and TCF’s conversion to Huntington this fall, both Flynn and Irwin say retaining clients and talent is their top priority. The loss of both is a natural consequence of any merger, and the two veteran banking executives hope to downplay the potential fallout from the TCF-Huntington union in the months to come.

Flynn and Irwin specifically contacted TCF staff who joined Huntington.

“We don’t want to lose good colleagues, we don’t want to lose good customers,” Irwin said.

Since the announcement of the TCF-Huntington merger last December, competitors have raised the potential to attract customers and talent. Some market movements have already happened with commercial and mortgage lenders turning to other banks.

The attention of the bank’s executives is focused on connecting with TCF clients and “making sure they understand that we will take care of them and that their services will only improve, and we will continue to provide them with better care. provide the best possible service throughout the transition, ”said Flynn.

“Employer of choice”

Employee retention is “just behind” customer retention, said Flynn, who was regional chairman of TCF Bank and joined Huntington in the acquisition which closed on June 9.

“Any sort of combination has a bit of that. You just have to put your arms around the people and make sure that they feel valued and that they add value to the new organization, and that they fit in culturally, ”said Flynn, citing Cultures. corporate at TCF and Huntington which are “very similar.” “

A seasoned commercial banker, Flynn previously served as regional chairman of TCF and the former Chemical Bank.

Its goal is for “Huntington to be the employer of choice”. Part of retaining key staff is pointing out that they now have “significantly better products and services” to offer customers than a small bank can provide, she said.

Huntington also created a “buddy system” that connects TCF staff with a Huntington counterpart to mentor them through the transition and “help new hires understand internal systems and processes.”

“We are making great strides in really making an effort to make people feel comfortable and welcome and culture to be understood by everyone in a creative way,” said Flynn.

Competitors are recruiting

The movement of talent within a market and the need to actively work to retain staff are natural phenomena following bank mergers.

The TCF-Huntington merger was no different, especially given the number of office closures and branch consolidations planned, said Hunter Judson Sr., president and CEO of the research and consulting firm. in Human Resources based in Grand Rapids. Judson LLC Group.

Since “the team with the best talent wins the most every time”, the acquiring banks “always strive to keep the best, but it is very difficult and almost always there is a considerable loss of talent. “said Judson.

“Most of the competing banks have recruited and hired a number of TCF lenders and support staff – commercial and mortgage. When the merger was announced, they developed top talent rosters and started recruiting efforts and conversations, ”said Judson. “Because the bank is a relatively small network, the bank executives knew who they wanted to hire. Most of Huntington’s competitors have benefited from the opportunity to hire additional skilled talent.

A “major force” in the banking sector

Columbus, Ohio-based Huntington’s acquisition of Detroit-based TCF created Michigan’s largest operating bank with $ 170.8 billion in assets and deposits of $ 138 billion. dollars on its imprint. Huntington (Nasdaq: HBAN) bases its commercial banking operations at headquarters in Detroit, while personal banking is headquartered in Columbus.

Overall, Huntington Bank now has $ 175 billion in assets with more than 1,100 offices in 12 states.

The integration of the two banks and the renaming of the TCF offices in Huntington will take place the second weekend of October.

In western Michigan, Huntington became the second largest bank in the Grand Rapids area with $ 6.7 billion in deposits and a 20.7% market share. Fifth Third Bank is the largest bank in the market in the Grand Rapids area. Huntington became the third-largest bank in the Kalamazoo region with 12% of the deposit market, or $ 646 million, according to a Federal Reserve analysis of the merger.

“We’re going to be a major force in western Michigan with our combined entity,” Irwin said. “We have a great branch distribution system and great colleagues who have joined Huntington. “

Huntington will still have one of the largest branch networks in the state, even with the planned closure of 198 branches primarily in Michigan, including all of Huntington’s 97 branches in Meijer Inc. stores. As part of obtaining regulatory approval for the acquisition, Huntington plans to sell 14 branches in the center of the Lower Peninsula to Horizon Bank.

Local support for small businesses

Executives from both banks said the merger would allow more investment in technology and products and services for clients large and small, although local execution and delivery remains vital, Flynn said.

“Size and investment is a big plus so that we can get better products and services, but that doesn’t matter to our customers from a ‘big’ point of view. They will ignore it. They’re going to say, ‘What does this mean to me?’ “, did she say. “I’ll tell you it’s local delivery and (have) your team intact, and your team is going to serve (the customers) appropriately.”

While TCF and Huntington spent the first half of 2021 working on the merger, Irwin decided to retire at the end of the year. He has served as Huntington’s regional president since January 2013 and previously worked for almost 11 years as a corporate bank manager for West Michigan.

“The timing was just perfect,” Irwin said. “The merger with TCF was the perfect opportunity for me to be able to step down and allow Krista to take over. “

A week after the acquisition closed on June 9, Huntington announced a $ 40 billion corporate commitment to support small businesses as well as minority and underserved markets.

The bank’s community plan focuses on four pillars: small business loans; racial and social equity; home and consumer loans; and community development loans. The bank is looking to deploy capital through partnerships with community organizations, Irwin said.

“We are doubling down on our interest in making a difference in all the communities in which we operate,” said Irwin. “I hope we are a catalyst for positive change here in Western Michigan and that other organizations will join us. It will take all of us to make a huge difference in these communities.

Of the $ 40 billion five-year commitment in the 12 Huntington states, $ 11 billion was dedicated specifically to Michigan, said Flynn, whose region is one of the state’s five markets. Its market stretches west of Ionia and south of Big Rapids on the Michigan-Indiana border.

To deploy the capital, Huntington intends to partner directly with local organizations that are already working on the same issues at the local level. The bank will “listen first” and “see what it needs,” Flynn said. Building partnerships can help overcome “trust issues” in minority and underserved communities and neighborhoods and “reach the people we really want to reach,” said Flynn.

“I don’t want to have flair and just say a big number and then not really be able to show what we did specifically. I want an inventory, ‘This is where we made an impact,’ ”said Flynn. “It really has to be an ongoing relationship that they feel comfortable trusting and having the conversation with us.

“It’s a long game. None of the problems will be solved in two years.



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Huntington Bank pledges billions for new community plan | Business https://columbus-chamber.org/huntington-bank-pledges-billions-for-new-community-plan-business/ https://columbus-chamber.org/huntington-bank-pledges-billions-for-new-community-plan-business/#respond Thu, 15 Jul 2021 21:00:00 +0000 https://columbus-chamber.org/huntington-bank-pledges-billions-for-new-community-plan-business/ Columbus-based banking firm Huntington National Bank on June 16 unveiled a new strategy to tackle social, racial, environmental and economic inequalities by committing $ 40 billion to strengthen small businesses, minorities, and underserved communities. funded under its new community plan. According to a press release, the plan will help improve financial opportunities for the consumers, […]]]>


Columbus-based banking firm Huntington National Bank on June 16 unveiled a new strategy to tackle social, racial, environmental and economic inequalities by committing $ 40 billion to strengthen small businesses, minorities, and underserved communities. funded under its new community plan.

According to a press release, the plan will help improve financial opportunities for the consumers, businesses and communities it serves, with a focus on affordable housing, small business loans and raising capital for historically disadvantaged and low to moderate income communities.

Sean Richardson, chairman of the Huntington Bank for the Greater Cleveland area, told the Cleveland Jewish News on July 13 that the bank’s motivation is “to produce meaningful change and improve economic vitality, financial security and a sustainable future for those we serve ”.

“One of the things we’re most proud of with this community plan is how we’ve developed it based on feedback from hundreds of community leaders, clients and colleagues,” he said. “We met 400 organizations across our newly expanded footprint to identify community needs. “






Richardson


Huntington Bank management discovered several key areas of need during those meetings, the statement said. These areas include racial and social equity, allocating $ 16 billion from the $ 40 billion pledge; consumer and housing loans, adopting a loan target of $ 24 billion, of which $ 12 billion is committed to meet the needs of minority and underfunded populations; small businesses, where the bank will commit $ 10 billion over five years, of which $ 2 billion will be allocated to minority-owned businesses or businesses operating in majority minority communities; and loans and investments for community development, committing $ 6.5 billion in loans and investments to improve programs and services that promote equity in areas such as affordable housing, small business financing and services. communities that provide food security, financial empowerment and workforce development, and of this $ 6.5 billion, $ 2 billion will be spent on minority initiatives in these areas.

In the statement, Ohio Governor Mike DeWine expressed support for Huntington Bank’s current community plan.

“We are very grateful for the 155 year history of Huntington, Ohio and the continued leadership today,” said DeWine. “This community plan is bold, thoughtful, and life changing for the people who will benefit from it – one owner, one business owner, one community at a time.”

To move the plan forward, Huntington Bank also finalized a merger with TCF Financial Corp. June 9. Richardson said the completed merger added “strength” to Huntington Bank’s ability to meet the needs of the community. The combined company has approximately $ 175 billion in assets, $ 142 billion in deposits and $ 116 billion in loans based on balances as of March 31, 2021. Huntington now operates more than 1,100 total branches in 12 states, entering new markets in Minnesota and Colorado. All TCF and Huntington Bank customers will continue to do banking as they normally do, with TCF accounts being converted to Huntington accounts in the fourth quarter.

“The completed merger with TCF Financial Corp. allows us to renew and strengthen our commitment to improving the financial stability and quality of life of people in our local communities, ”said Richardson. “Our focus on finding people guides us to be a catalyst for positive change and to help historically disadvantaged consumers and businesses. “

Under previous community plans, Huntington Bank has assisted over 14,000 first-time buyers, invested or loaned $ 962 million for 8,693 affordable housing development units, and in total provided over 22.7 billions of dollars in community development programs and products, loans and investments to meet needs across its footprint.

“It’s one thing to talk about a community plan, it’s another to implement it,” said Richardson. “Over the next few months, we will be updating the community page on our website to show our progress against our five-year goals. We will hold ourselves accountable and be transparent about the impact we have in the communities we serve. “

In addition, the merger resulted in the addition of five new board members: Richard H. King, retired COO of Thomas Reuters Corp. ; Barbara L. McQuade, professor of law at the University of Michigan; Roger J. Sit, CEO, Head of Global Investments and Director of Sit Investment Services; Jeffrey L. Tate, executive vice president and chief financial officer of Leggett & Platt; and Gary Torgow, chairman of the board of directors of the Huntington National Bank. All new members of the board are former TCF directors.

Huntington Bank has operations in 11 states, including Ohio.



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Tele Columbus launches marketing with the first wholesale partner https://columbus-chamber.org/tele-columbus-launches-marketing-with-the-first-wholesale-partner/ https://columbus-chamber.org/tele-columbus-launches-marketing-with-the-first-wholesale-partner/#respond Wed, 14 Jul 2021 11:00:04 +0000 https://columbus-chamber.org/tele-columbus-launches-marketing-with-the-first-wholesale-partner/ DGAP-News: Tele Columbus AG / Keyword (s): Market launch / Alliance14.07.2021 / 13:00 The issuer is solely responsible for the content of this advertisement. PRESS RELEASE The launch of open access marks an important step in the Fiber Champion strategy Tele Columbus launches marketing with the first wholesale partner – Telefónica launches marketing activities in […]]]>


DGAP-News: Tele Columbus AG / Keyword (s): Market launch / Alliance
14.07.2021 / 13:00
The issuer is solely responsible for the content of this advertisement.

PRESS RELEASE

The launch of open access marks an important step in the Fiber Champion strategy

Tele Columbus launches marketing with the first wholesale partner

– Telefónica launches marketing activities in the Tele Columbus group network

-O2 landline products now available to tenants in properties served by Tele Columbus

– More choice and a wider offer for tenants

Berlin / Munich July 14, 2021. Tele Columbus AG and Telefónica Deutschland (O2) have announced the implementation of their 2019 wholesale agreement. Starting July 21, 2021, customers will be able to request and subscribe to O2 fixed telephony products from the Tele Columbus network. In doing so, Tele Columbus AG opens up its broadband networks and offers connected end customers the possibility of selecting products from different suppliers with maximum bandwidths of up to 1000 Mbit / s.

“The non-discriminatory openness of our networks is an important aspect of our Fiber Champion strategy and represents real added value for our partners in the housing industry and all tenants,” said Dr Daniel Ritz, CEO of Tele Columbus AG. “The ability to choose from different product providers increases the attractiveness of Tele Columbus as a service provider and partner for the housing industry while also activating additional demand potential for our broadband infrastructure. “

The ability to market its products to the 2.4 million homes in the Tele Columbus network enables O2 to reach more than 26 million households with fixed telephone services via wired connections. The two sides hope to gain further marketing momentum by cooperating. As a result, Tele Columbus expects higher penetration of IP services in its own network, with Telefónica expecting to strengthen its fixed line business and improve customer loyalty through new bundled products.

About Us

Tele Columbus AG is one of Germany’s leading fiber network operators serving more than 3 million homes. Through its PŸUR brand, the Company offers high-speed Internet access including telephony and more than 250 TV channels. All this through a digital entertainment platform that combines linear television and video on demand entertainment. To its housing association partners, the Tele Columbus Group offers tailor-made cooperation models and cutting-edge services such as telemetry and tenant portals. As a full service partner for municipalities and regional utilities, the Company actively supports fiber-based infrastructure and the expansion of broadband internet in Germany. For its business customers, the Group offers operator services and business solutions on its proprietary fiber network. In addition to its headquarters in Berlin, the company has sites in Hamburg, Leipzig, Ratingen and Unterföhring / Munich. Since January 2015, Tele Columbus AG has been listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.

Warning

This press release may contain forward-looking statements. These statements reflect the Company’s current knowledge, expectations and projections regarding future events. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the statements. prospective. These risks, uncertainties and assumptions may cause our actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. In light of these risks and uncertainties, the forward-looking events and circumstances mentioned in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. Therefore, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this document.

This release contains references to certain non-GAAP financial measures, such as normalized EBITDA and capital expenditures, and operational measures, such as RGUs, ARPU and unique subscriber calculations. These non-GAAP financial and operating measures should not be viewed in isolation as alternatives to measures of the Company’s financial position, results of operations or cash flows as presented in accordance with IFRS. Non-GAAP financial and operational measures used by the Company may differ from and may not be comparable to measures of the same name used by other companies.

All information contained in this press release has been carefully prepared. However, no confidence can be placed for any purpose whatsoever in the information contained in this document or its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained herein and no liability of any kind. is accepted by the Company or any of its directors, officers or employees or any other person for any loss arising, directly or indirectly, from the use of such information or opinions or arising in any other way in connection with them . The Company assumes no obligation to update or revise the information contained in this press release, including forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Leonhard Bayer
Senior Director of Investor Relations
Telephone +49 (30) 3388 1781
Fax +49 (30) 3388 9 1999
ir@telecolumbus.de
www.telecolumbus.com

07.14.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this advertisement.

DGAP’s distribution services include regulatory announcements, financial / corporate information, and press releases.
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Mixed stocks ahead of earnings season; banks in the spotlight | national https://columbus-chamber.org/mixed-stocks-ahead-of-earnings-season-banks-in-the-spotlight-national/ https://columbus-chamber.org/mixed-stocks-ahead-of-earnings-season-banks-in-the-spotlight-national/#respond Mon, 12 Jul 2021 14:12:06 +0000 https://columbus-chamber.org/mixed-stocks-ahead-of-earnings-season-banks-in-the-spotlight-national/ A forex trader walks past screens displaying exchange rates in the forex trading room in Seoul, South Korea on Monday, July 12, 2021. Asian stock markets rose on Monday after Wall Street peaked despite nervousness regarding the spread of the delta coronavirus as investors eagerly awaited U.S. earnings reports. A forex trader looks at computer […]]]>


The Associated Press

Stocks hovered between small gains and losses early in Monday before a flurry of corporate earnings reports from U.S. companies to be released this week.

The S&P 500 Index was up 0.1% at 10 a.m. EST. The Dow Jones Industrial Average was up 0.2% and the Nasdaq composite was down 0.2%. On Friday, the S&P 500 rose 1.1% to a new high, rebounding from the previous day’s loss.

Profit season kicks off this week. The big Wall Street banks are releasing their results from Tuesday starting with JPMorgan Chase and Goldman Sachs. Bank of America, Citigroup and Wells Fargo will also report this week. A handful of other large companies are reporting this week, including Delta Air Lines, PepsiCo and UnitedHealth Group.

Expectations are high this quarter for publicly traded companies. The pandemic is declining and all of the United States effectively reopened in the last quarter as vaccine availability became widespread. Investors will not only be looking to see what kinds of profits these companies have generated over the past three months, but also what their outlook is now that things are normalizing.

Corporate profits are expected to increase 64% from a year ago, according to FactSet. It would be the strongest year-over-year growth since 2009, when corporate profits began to recover from the Great Recession.



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MFI approves $ 650 billion expansion to fight pandemic | National https://columbus-chamber.org/mfi-approves-650-billion-expansion-to-fight-pandemic-national/ https://columbus-chamber.org/mfi-approves-650-billion-expansion-to-fight-pandemic-national/#respond Fri, 09 Jul 2021 15:14:08 +0000 https://columbus-chamber.org/mfi-approves-650-billion-expansion-to-fight-pandemic-national/ FILE – In this May 18, 2021 file photo, International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks at the end of the Financing of African Economies Summit, in Paris. The executive board of the International Monetary Fund has approved a $ 650 billion expansion of the resources of the 190-nation lending institution aimed at […]]]>







FILE – In this May 18, 2021 file photo, International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks at the end of the Financing of African Economies Summit, in Paris. The executive board of the International Monetary Fund has approved a $ 650 billion expansion of the resources of the 190-nation lending institution aimed at providing more support for vulnerable nations as they battle the coronavirus pandemic. Georgieva said in a statement Friday, July 9, that the new support, the largest such expansion in the agency’s history, would be a “shot in the arm for the world.”


Ludovic Marin


By MARTIN CRUTSINGER AP Economics Writer

WASHINGTON (AP) – The executive board of the International Monetary Fund approved a $ 650 billion expansion in resources to support economically vulnerable nations as they battle the coronavirus pandemic.

IMF Managing Director Kristalina Georgieva said Friday that the new support, the largest such expansion in the history of the 190-nation lending institution, would be a “shot in the arm for the world.”

To put the size of the funding expansion in context, the IMF approved a $ 250 billion boost in SDR reserves following the 2008 financial crisis.

It is a reversal of the stance taken by the Trump administration and it began in February when the Biden administration got behind the effort.

Republican members of Congress have objected to the funding, saying that the expanded IMF resources would benefit US adversaries such as China, Russia and Iran. However, the assistance has been strongly supported by international relief agencies.

Eric LeCompte, executive director of the religious-affiliated development group Jubilee USA Network, said that the IMF action would allow developing countries to immediately receive more than $ 200 billion in support.

“Wealthy countries who receive emergency reserves they don’t need should transfer those resources to developing countries struggling through the pandemic,” LeCompte said.



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Pinnacle Bank to acquire Liberty First | https://columbus-chamber.org/pinnacle-bank-to-acquire-liberty-first/ https://columbus-chamber.org/pinnacle-bank-to-acquire-liberty-first/#respond Wed, 07 Jul 2021 22:14:00 +0000 https://columbus-chamber.org/pinnacle-bank-to-acquire-liberty-first/ MONROE, Georgia – Pinnacle Bank has announced plans to purchase Monroe-based Liberty First Bank. Pinnacle Financial Corp., parent company of Elberton-based Pinnacle Bank, has signed a definitive merger agreement with Liberty First Bank under which Pinnacle will acquire Liberty First in a cash and stock transaction valued at of approximately $ 19.1 million. This represents […]]]>


MONROE, Georgia – Pinnacle Bank has announced plans to purchase Monroe-based Liberty First Bank.

Pinnacle Financial Corp., parent company of Elberton-based Pinnacle Bank, has signed a definitive merger agreement with Liberty First Bank under which Pinnacle will acquire Liberty First in a cash and stock transaction valued at of approximately $ 19.1 million.

This represents approximately $ 16.50 per outstanding share of Liberty common stock.






Lee Garrett at his office at Liberty First Bank in Monroe.



D. Lee Garrett, president of Liberty First, will remain with Pinnacle as a senior market executive in the region. A press release said Garrett is leading Liberty bankers “excited about new opportunities with Pinnacle.”

Pinnacle has branches at 238 S. Broad St. in downtown Monroe and at 112 N. Cherokee Road in downtown Social Circle. In total, Pinnacle has 22 branches in 15 counties in northeast Georgia.

Liberty First is located at 1901 W. Spring St. The bank opened in 2006 with five employees working from a small office on Michael Etchison Road. Its headquarters and banking office are now in the Bankers Grove development, perched above the bustling intersection of West Spring Street and Martin Luther King Jr. Boulevard.

Liberty will add about $ 183 million in assets, $ 72 million in loans and $ 168 million in deposits to Pinnacle, company officials said. Upon completion of the transaction, Pinnacle will have approximately $ 1.8 billion in assets, $ 1.1 billion in loans and $ 1.6 billion in deposits, based on financial data released as of March 31. 2021.

The combined bank is said to have the second-largest market share in Walton County, according to Federal Deposit Insurance Corp. records. at the end of June 2020, the last date for which statistics were available.

Together, the combined bank would have $ 235.35 million in local deposits, which would still place it well behind the $ 409.8 million on deposit at Synovus. The Columbus-based bank has the longest history in Monroe, dating back to 1891 and the Walton County National Bank.

“We are delighted to announce the combination of Pinnacle and Liberty,” L. Jackson McConnell Jr., CEO of Pinnacle Bank and CEO of Pinnacle Financial Corp., said in a press release.

“This transaction will allow us to partner with an excellent financial institution that shares our commitment to serving Walton County and other communities in Georgia. Our partnership with Liberty reinforces our strategy of expansion into our current markets where enthusiasm and community growth reign.

Dawn Griffin, Liberty First CEO since its inception, said the bank was “thrilled” to partner with a company that dates back to the 1930s.

“Our customers will benefit from the increased market share served by the combined bank, as well as the breadth and depth of the products and services offered through this combination.

“Pinnacle is a true community bank and decisions will continue to be made locally by bankers with a vested interest in the businesses and communities of our clients.

Garrett has been responsible for loans at Liberty First since it opened in 2006. He succeeded Griffin as president on January 1, 2020, and Griffin retained his title as CEO.

A legal opinion published in The Tribune in December 2005 listed the directors of the young Liberty First Bank, a prominent Walton County business and government scholar: Eugene M. Benton, Harold L. “Hal” Breedlove, George J. Hearn III, Robert C. King, George B. Launius, Charles H. Hogan, Darrell H. McWaters, E. Kenneth Murray Sr., William Lee Smith, L. Franklin Shackleford Jr., David G. Thompson, Virgil R. Williams Jr. and Hugh Bruce Williamson III.

Benton was then a judge of the Superior Court and has since returned to practice private law in Monroe. Thompson is now chairman of the Walton County Board of Commissioners and Williamson is a state representative.

Hearn, who died in 2014, served as a Walton County Juvenile Court judge for 24 years.

The Walton Tribune awarded Liberty First Bank the title of Walton County Employer of the Year in 2018. Garrett won the Community Spirit Award in 2015.

Pinnacle Bank dates back to 1934, when it was founded as the First National Bank of Elberton. The bank acquired Pinnacle Bank of Royston and took the name in 1998.

Pinnacle Bank came to Walton County when it acquired the Georgia Central Bank of Social Circle in 2007.

The deal is expected to be finalized in the last quarter of 2021. It has received unanimous support from the boards of directors of both companies and is subject to regulatory approval and Liberty shareholder approval.

McConnell will remain CEO of Pinnacle after the deal closes. He is also Chairman of the Pinnacle Board of Directors, which includes Dr Thomas E. McGarity of Jersey and Greg T. Herring of Covington.



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