'Wallet wellness' in Pittsburgh
Pittsburgh ranked No. 4 on Cardhub.com's 2013 rankings for Best & Worst Cities for Wallet Wellness, primarily because it ranks in the Top 3 nationally in terms of average income adjusted for cost of living as well as housing affordability and rate of job growth. The top three cities are Minneapolis, Houston and Dallas.
Average gas price falls 5 cents
The cost of gasoline in Pittsburgh fell a nickel this week, with the average price for a gallon of regular unleaded hitting $3.617. That's about 11 cents more than the national average, according to GasBuddy.com. The price of gas in the Pittsburgh area is about 32 cents cheaper than it was this time one year ago.
• Northwest Bancshares, Warren, Pa.-based parent company of Northwest Savings Bank, reported net income was essentially flat in the first quarter at $15.3 million, or 17 cents per share, compared with $15.2 million, or 16 cents, a year earlier. Non-interest income rose 16 percent in the most recent period but that was largely offset by a bigger provision to cover bad loans and a 1 percent decline in net interest income. Separately, Northwest directors declared a special cash dividend of 12 cents per share in addition to the regular quarterly dividend of 12 cents per share. Both are payable May 16 to shareholders of record May 2.
• WVS Financial Corp., parent company of West View Savings Bank, said net income in the three months ended March 31 skidded to $139,000, or 7 cents per share, down from $382,000, or 19 cents per share, in the same quarter last year as revenue fell.
EQT will pay dividend in June
EQT Corp. announced Monday it will pay a quarterly cash dividend of 3 cents per share to shareholders of record at the close of business on May 17. The Downtown-based gas driller and utility will pay the dividend on June 1.
Dick's CEO earned $10.8M
Dick's Sporting Goods chairman and CEO Edward W. Stack earned $10.8 million in the fiscal year that ended Feb. 2, down slightly from $11.1 million a year earlier, according a filing with the Securities and Exchange Commission. The total included $1 million in salary, $7.5 million in stock and option awards, and $2 million in incentives. In addition, Mr. Stack realized $137 million in value by exercising stock options.
Hospital leader joins Highmark
Ray Beck, CEO at Ellwood City Hospital, will join Highmark on April 29 as chief administrative officer overseeing the physician organization for Highmark's integrated health care delivery network. In his new role, Mr. Beck will report to John Paul, president of the Highmark integrated delivery network.
Sales of existing homes drop
Existing-home sales declined 0.6 percent in March to a seasonally adjusted annual rate of 4.92 million, according to the National Association of Realtors. Low inventories of existing homes for sale are constraining activity, the association said. Median prices hit $184,300 in March, up 11.8 percent from the same period in the prior year.