Ohio

Ronald R. Reed has resigned as chief executive of Citizens Independent Bancorp in Logan, Ohio, and its bank unit.

Mt. Washington Savings Bank in Cincinnati is planning to convert from a mutual savings and loan association to a company partly owned by public shareholders.

Peoples Bancorp in Marietta, Ohio, has raised $40 million through a private placement.

Peoples Bancorp in Marietta, Ohio, has agreed to buy NB&T Financial Group in Wilmington, Ohio.

TFS Financial in Cleveland reported that its quarterly profits increased as net interest income rose and its loan-loss provision shrank.

Aided by gains in fee income, lower expenses and double-digit commercial loan growth, FirstMerit in Akron, Ohio, reported a profit of $59.5 million in the second quarter, up nearly 23% from the same period in last year.

Central Federal in Worthington, Ohio, raised roughly $12 million from a private placement of preferred stock.

Consumer confidence is improving but uncertainty surrounding world events and gridlock in Washington continue to temper expectations for Stephen Steinour.

Huntington Bancshares (HBAN) in Columbus, Ohio, improved its bottom line as an increase in revenue offset higher noninterest expenses.

LNB Bancorp (LNBB) in Lorain, Ohio, has hired a new chief financial officer.

KeyCorp (KEY) in Cleveland reported higher quarterly earnings after a jump in investment banking and debt placement fees and lower credit costs.

KeyCorp (KEY) in Cleveland has agreed to buy Pacific Crest Securities, a technology-focused investment bank and capital markets firm.

Community Bancshares in McArthur, Ohio, has agreed to buy Citizens Bank of Asheville in Ohio.

SYLVANIA, Ohio — Inspired by millionaire Jason Buzi who has been hiding envelopes in major U.S. cities stuffed with $100 for strangers to find, one credit union is doing something similar in a few small towns that have been battered by the recession.

A breakdown of M&A announcements in the financial services industry for the week ended July 5.

United Bancshares (UBOH) in Columbus Grove, Ohio, has agreed to buy Ohio State Bank in Marion.

Harwood Feffer promised to investigate claims against First Citizens Banc Corp in Ohio for agreeing to sell itself. The problem? The law firm should have been targeting First Citizens Bancorp. in South Carolina.

The Columbus, Ohio, company started giving away pens in its branches in 2010. Now more than 20 million are in circulation around the world with a few ending up in bizarre places, including the movie Bad Grandpa.

It's not easy to survive as a single-branch community bank anymore. That's the view of John Essen, president of Community Savings Bank in Bethel, Ohio, which agreed this week to merge with Home Building and Loan Co., a savings and loan in Greenfield, Ohio.

KeyBank in Cleveland has created a new checking account that eliminates fees for customers who agree not to write checks and do not expect the bank to cover their overdrafts.