Business
By Mahoning Matters staff
Youngstown State University is one of 14 training providers in the state that will receive funds through the Individual Microcredential Assistance Program, Lt. Gov. Jon Husted, director of the Governor’s Office of Workforce Transformation, announced Thursday.
The 14 training providers will receive a total of $2.93 million in awards to support 2,336 credentials through the program.
This is the second round of the initiative, which helps Ohioans who are low-income, partially unemployed or totally unemployed participate in a training program and receive one or more technology-focused credentials for free, a news release states.
The selected training providers, which include four-year universities, career centers and private businesses, will be reimbursed up to $3,000 for each completed technology-focused credential issued.
“IMAP gives individuals the opportunity to earn in-demand, technology skills so they can get higher-paying jobs in a very short amount of time,” Husted said in the release. “Ohio businesses across all industries need to compete in today’s economy, and this program provides them a pipeline of ready-to-go talent.”
Howlett Restaurant Group donates $10K to United Way
Howlett Restaurant Group recently donated $10,000 to the United Way of Youngstown and the Mahoning Valley through its Rise Up and Round Up Initiative.
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The campaign allowed Coaches Burger Bar customers to round up their bill to the nearest dollar amount and donate the “change” to the United Way.
“In our five years of partnership with the United Way of Youngstown and the Mahoning Valley, this has been our top campaign to date,” Stacy Howlett, vice president of the Howlett Restaurant Group and president and CEO of Howlett Logistics, said in a news release. “We are beyond proud of our employees who share our passion for this organization and all the good it does for our local community and to our loyal customers who gave so willingly to show their support to us and the United Way.”
The Howletts first started fundraising for United Way in 2017 by donating a quarter per burger sold at their Coaches locations in December. Their first campaign raised $1,400.
“We greatly appreciate our partnership with the Howlett Restaurant Group and all they do for our community,” Bob Hannon, president of the United Way of Youngstown and the Mahoning Valley, said in the release.
Farmers National Banc Corp. announces 2021 results
Farmers National Banc Corp. on Friday announced financial results for last year and the fourth quarter of 2021.
On a generally accepted accounting principles basis, net income for the fourth quarter of 2021 was $5.7 million, or $0.18 per diluted share, compared with $11.4 million, or $0.40 per diluted share, for the three months ended Dec. 31, 2020, a news release states.
The results for the quarter included pretax items for acquisition related provision for credit loss expense of $4.9 million, $6.5 million for acquisition costs, $1.8 million for a prepayment penalty on an FHLB advance, security gains of $25,000, a loss of $195,000 on the sale of assets and a one-time gain of $239,000 for the sale of Farmers’ credit card portfolio. Excluding these items (non-GAAP), core net income for the quarter ended Dec. 31, 2021, would have been $16.2 million, or $0.50 per diluted share, the release states.
Net income for the 12 months ended Dec. 31, 2021, totaled $51.8 million, or $1.77 per diluted share, compared with $41.9 million, or $1.47 per diluted share, for the 12 months ended Dec. 31, 2020, the release states.
Results for the year ended Dec. 31, 2021, included pre-tax items for acquisition-related provision for credit loss expense of $4.9 million, acquisition costs of $7.1 million, prepayment penalties on FHLB advances of $2.1 million, security gains of $1.0 million, a loss of $247,000 on the sale of assets and the one-time gain of $239,000 on the sale of the credit card portfolio. Net income for the 12 months ended Dec. 31, 2021, excluding these items (non-GAAP), was $62.3 million, or $2.13 per share, the release states.
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