Ohio

A proposed combination of First Defiance and United Financial is designed to create an Ohio company that can better weather shocks from lower rates and economic uncertainty.

The deal between First Defiance and United Community would create a $6 billion-asset bank.

Farmers will pay $40 million for the bank, which is in an affluent area in northeast Ohio.

Two Michigan credit unions were sued by an individual who claimed their websites didn't comply with the Americans with Disabilities Act.

First Mutual Holding is buying the tiny Blue Grass Federal and keeping its charter. The deal will allow the seller to save costs and maintain its autonomy.

Siemens Mobility has announced it’s working with Bytemark, a company Siemens partially owns, to develop a payment solution enabling riders to pay once for a trip across the city using multiple public and private modes of transit, from buses to scooters.

The industry has long worried that the ability-to-repay rule gives borrowers an avenue to fight foreclosure, but one plaintiff’s experience may discourage others from trying.

Ancora Advisors also suggested that the company get rid of its current management team.

The Cleveland regional said the matter is tied to a commercial client and that law enforcement is investigating it.

These programs are allowed in a majority of states, but only a small portion of credit unions offer them. That may change as the need for deposits grows and consumer expectations shift.

The Cincinnati bank could add about $30 million a year in noninterest income with its deal for the capital markets firm Bannockburn Global Forex.

The Michigan-based institution is one of a handful of credit unions that have bought or announced deals to acquire banks over the last two years.

Eric Meilstrup, who was named president last fall, will succeed Steve Foster as CEO next month.

Stephen Steinour said it was pure conjecture that Huntington was a possible suitor for the Dallas bank if it decides to put itself up for sale at some point. He emphasized Huntington's core-growth strategy and upbeat economic signs from consumers and businesses.

The bank is investing more in its digital capabilities, according to The Cincinnati Enquirer.

A big decrease in noninterest income outweighed cost controls during the first quarter.

Douglas Ankrom, who is currently chief financial officer at the Belpre, Ohio-based institution, will take over for Michael Iaderosa, who will retire later this year.

There's plenty credit unions can do to compete with the likes of Quicken Loans' Rocket Mortgage, but sources cautioned more than technology will be needed to boost the bottom line.

The company warned that the move will likely reduce its first-quarter profit by $8 million.

The pair subject to the regulator's March prohibition orders both pleaded guilty and were ordered to pay more than $320,000 in restitution, among other punishments.