Business briefs
XTO Energy charged in spill
Pennsylvania Attorney General Kathleen Kane filed criminal charges against XTO Energy Inc., a division of Exxon Mobil, for a 2010 spill of gas well wastewater in Lycoming County. A grand jury agreed with Ms. Kane’s assessment that XTO violated the Clean Streams Law and the Solid Waste Management Act. Texas-based XTO vowed to fight the allegations and called the criminal charges “unprecedented, baseless and an abuse of prosecutorial discretion.” In July, XTO signed a settlement with the U.S. Environmental Protection Agency and the Department of Justice over the incident, which carried a $100,000 fine and required the company to spend $20 million overhauling its wastewater management practices in Pennsylvania and West Virginia.
Alcoa booted from Dow Jones
Alcoa is one of three stocks being booted out of the Dow Jones industrial average as part of a makeover of the widely watched index of 30 stocks. Nike will replace the aluminum producer after the close of trading on Sept. 20. Goldman Sachs
and Visa are also being added to the index. They replace Bank of America and Hewlett-Packard.
Pa. bank moves to Baltimore
First National Bank of Pennsylvania based in Hermitage said it will establish a regional headquarters in downtown Baltimore, occupying more than 11,000 square feet in a building on Lombard Street to be known as the First National Bank Building. The space is expected to be ready before the end of the year, the bank said. FNB is buying Baltimore County Savings Bank with 16 offices in a deal that’s
expected to be completed in the first quarter next year. The acquisition will bring FNB’s branch count in Maryland to 25.
OCC lifts Nextier agreement
Butler-based Nextier Bank said Tuesday that it was released from special oversight by the Office of the Comptroller of the Currency, which had been in place since June 2010. The $500 million asset bank, which has 15 offices in Allegheny, Armstrong and Butler counties, said it worked down problem assets, improved its profitability and is now considered well capitalized
by regulatory standards.
ExOne predicts shares profit
The ExOne Co. expects to raise $64.8 million from a secondary offering of 1.1 million shares that is expected to be completed Sept. 13.
The shares were priced at $62. The North Huntingdon 3-D printer’s offering also will include 1.6 million shares being sold by insiders. Underwriters have the option of selling an additional 398,400 of insider shares if demand warrants.
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