Sunday, Jul 24, 2016
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Economy

Rurban sheds $8.4M in troubled loans

DEFIANCE - Rurban Financial Corp. said it has completed the sale of nearly $8.4 million of troubled loans while it continues to clean up a portfolio that led to a loss of $13.4 million in 2002 and the resignation of several top officers.

About $4.4 million of nonperforming loans will remain on Rurban's books after the sale, in addition to a $2 million office building under contract to close next quarter. The bank holding company said it will take an after-tax charge of about $745,000.

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