VIENNA - Joblessness and less income for those still working mean the recession definitely isn't over in markets served by First Place Financial Corp., the company's chief executive said Thursday.

But the parent of First Place Bank remains well-capitalized and continues to see success in mortgage lending and servicing of loans, as well as attracting core savings and checking accounts, President and Chief Executive Officer Steven R. Lewis told shareholders at the company's annual meeting at Squaw Creek Country Club.

Lewis noted the bank boosted its new mortgage loans by 46 percent from $1.3 billion in its fiscal year ended June 30, 2008, to $1.9 billion in 2009. It tacked on another $458 million in the first quarter of the 2010 fiscal year.

''We believe it's going to be a larger and more stable component of our income. We're going to keep on growing this business,'' he said.

Lewis added the bank's emphasis on mortgage loans, which includes going to an automated loan origination computer system in the next few months, is attracting interest from mortgage brokers who hit hard times in the past year with the collapse of the housing market due to the credit crunch.

First Place added an established loan group in the Washington suburb of Rockville, Md., which Lewis said shows strength.

He noted the bank has received inquiries from mortgage brokers as far away as Southern California and Denver because they like First Place's business model. The company isn't interested in getting offices that far from its base, he said.

Lewis endorsed Congress' efforts to extend the $8,000 first-time home buyer's tax credit, which also is expected to provide a $6,500 tax break for people who have lived in their prior residence for at least five years.

Commercial real estate presents a challenge with rising store vacancies, especially in strip plazas and office buildings, Lewis said, although he said it's unclear how that will develop.

''There's an awful lot of stimulus going on,'' he said, referring to the hundreds of billions of dollars the government is spending to boost the economy, ''but if the economy doesn't turn around, (commercial real estate) will continue to get worse.''

At the meeting, shareholders passed a resolution allowing them to give nonbinding vote of no confidence on executive performance. Even though the vote would be nonbinding, Lewis said the company's directors ''would sit up and take notice'' on any negative ''say on pay'' vote.

lringler@tribtoday.com