Financial institutions in Valley placing higher premium on private banking

Financial institutions in Valley placing higher premium on private banking

By JAMISON COCKLIN

jcocklin@vindy.com

YOUNGSTOWN

Local banks, large and small, increasingly are turning their attention toward competing for the business of the Valley’s high net-worth clients as the economy improves and the prospects for wealth grow.

Private banking is proving a boon for the Youngstown area’s banks, as they seek to bring a full range of products and services under one wing to vie for the investments, mortgages, deposits and a bevy of other demands that help reap profit margins and establish steady lines of business among executives, physicians and lawyers.

“I don’t think it’s any more driven in areas like Cleveland and Columbus,” said Tammy Jorgensen, regional market manager for Huntington Wealth Advisors in the Mahoning Valley. “The Mahoning Valley is one of [Huntington Bank’s] largest groups in terms of wealth numbers throughout Northeast Ohio.”

Read the full story Monday in The Vindicator and on Vindy.com.

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