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Article: In Brief: 2 Banks in Pruning To Fight Yield Curve.(Community Banks Inc., Harrisburg, Pennsylvania)(Rurban Financial Corp., Defiance, Ohio)(Brief article)
- Article from:
- American Banker
- Article date:
- December 26, 2006
- Author:
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Community Banks Inc. in Harrisburg, Pa., and Rurban Financial Corp. in Defiance, Ohio, said Friday that they are cutting costs to help offset the adverse impact of the inverted yield curve.
Rurban's plan includes a balance-sheet restructuring that will result in a $710,000 charge to fourth-quarter earnings.
The $3.4 billion-asset Community said it would evaluate whether to close underperforming branches, reorganize its management, and consolidate nine banking regions into six. The company said this plan would help stabilize earnings next year, but it would not disclose the expected savings.
The $570 million-asset Rurban said it would combine ...