Home Savings profit

Home Savings profit


The Home Savings and Loan Co. of Youngstown reported a fourth-quarter consolidated profit of $2.6 million, or 8 cents per share, Friday.

The company also reported a net loss of $20.4 million, or 62 cents per share, for 2012.

Home Savings viewed its consolidated profit as a win after a year of fixing its balance sheet by writing off troubled loans and offering new stock options to raise its capital levels.

Delinquent loans at the bank were down 62 percent in 2012, compared with a year earlier. Nonperforming assets also were reduced by 57 percent, and classified loans were $59.9 million, or 72 percent for the year.

Patrick W. Bevack, president and chief executive, said fourth-quarter results were exactly where the bank wanted to be after the corrective measures taken throughout the year to return the bank to profitability.

TMH resignations


Bob Wolleben, chief executive officer at ValleyCare Trumbull Memorial Hospital, and Cynthia Lewis, chief nursing officer, resigned their posts effective Friday.

Wolleben came to the hospital in 2009 as chief operating officer and was promoted to CEO in 2010. During his tenure, the orthopedic floor was renovated with all-private patient suites, walk-in showers and new patient-care equipment. The hospital also added new technology including four CT scanners, lab blood-chemistry equipment, a surgical lighting system and upgraded IT systems.

Lewis, who joined TMH in 2011, led the implementation of clinical hourly rounding. From breakfast until bedtime, patients are visited by nurses each hour, building on the hospital’s commitment to safety and quality.

The search for a new CEO and CNO is under way, hospital officials said.

Vindicator staff reports

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