Business briefs

717 TO CELEBRATE NEW BRANCH: Representatives of 717 Credit Union will join Warren community leaders and other guests to celebrate the financial institution’s new soon-to-open Larchmont branch office in Warren at 5 p.m. Thursday for a ribbon cutting.

The new branch is at 3185 Larchmont Ave., Warren, which is just north of the credit union’s existing building.

The 8,200-square-foot, $3.6 million building replaces an older, smaller building. Most of the services will move to the new building. Staying put are the credit union’s retirement and investment group and loan originators.

PENN NATIONAL BUYS HOTEL / CASINO: Penn National Gaming, which operates Hollywood Gaming at Mahoning Valley Race Course in Austintown, has acquired the Greektown Casino-Hotel in Detroit from JACK Entertainment, LLC for approximately $300 million in cash.

The transaction was financed with a combination of cash on hand and incremental borrowings under Penn National’s revolving credit facility.

Simultaneous with the closing, Penn National entered into a lease agreement with VICI Properties Inc. for the Greektown facility. The lease has an initial annual rent of approximately $55.6 million and an initial term of 15 years, with four 5-year renewal options.

GOOD MORNING, WARREN!: There’s still time to register to attend the Youngstown Warren Regional Chamber’s Good Morning, Warren! event. It is 7:30 to 9 a.m. at DiVieste’s Banquet Centre, 754 North River Road, Warren. The cost is $20 for members and $30 for non-members.

Warren Mayor Doug Franklin will give his annual “State of the City” address, and Steve Chiaro, Warren City Schools superintendent, will review the 2018-19 school year and what’s in store for the future.

In addition, the regional chamber’s Manager of Business Development Lauren Johnson will give an update on the Opportunity Zones in the Mahoning Valley, including four in Warren, and Rick Stockberger, COO of the TechBelt Energy Innovation Center, will share an update on TBEIC’s efforts to target Opportunity Zone investment into portfolio companies and downtown Warren.

Sponsors Anderson DuBose and Trumbull County Children Services also will give updates on what’s been going on in their organizations.

CHAMBER TO HOST TURNPIKE DIRECTOR: Ferzan Ahmed, executive director of the Ohio Turnpike and Infrastructure Commission, will be the guest of the Youngstown Warren Regional Chamber at its Lattes and Legislators event 7:30 to 9 a.m. June 3 at Eastgate Regional Council of Governments, 100 E. Federal St., Suite 1000, Youngstown. The cost is $10 per person.

RIBBON CUTTING: Easterseals of Mahoning, Trumbull & Columbiana Counties will hold a ribbon cutting noon Friday at its office, 299 Edwards St., Youngstown, for the national celebration of 100 years of service.

The agency has changed its look to a new, fresher logo, remodeled building and redefined programs and services with a multi-generational approach to support the changing demographics and needs of the community.

Services provided by Easterseals are physical, aquatic, speech and occupational therapies, adult day center, home-delivered meals, congregate meal sites, Ohio Home Choice, Skill Development Center Adult Day Services for adults with Autism Spectrum Disorder or developmental disabilities, Teen Group for teens with disabilities, Weekend Respite for children with disabilities and the Community Center for the Deaf.

People on the Move

717 ANNOUNCES NEW MANAGERS: Warren-based 717 Credit Union has named Carla Devorich branch manager at its North Jackson and Youngstown Air Reserve Station branch locations. Employed with the credit union for 16 years, she will oversee member service while maintaining daily operations of the branches.

Kim Clark joins 717 as the collection department’s assistant manager. In her new position, Clark will co-manage the collections staff and oversee collection of delinquent accounts while minimizing losses to the credit union.

FARMERS ADDS TO MORTGAGE / COMMERCIAL LENDING TEAMS: Canfield-based Farmers National Bank has added Donald Fatobene to its mortgage lending team. Fatobene is the mortgage sales manager and will work in the Canfield office.

Fatobene, of Cortland, has 25 years of home lending experience.

In addition, the bank added Hollie Bunn as vice president, commercial banking senior relationship manager at the bank’s Seville office. She has 25 years in customer relationship management, agriculture lending and agribusiness.

COMMENTS