Saturday, August 01, 2015
Current Weather
Loading Current Weather....
Published: Wednesday, 12/21/2005

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.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.