Business news briefs for 11/19/11
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American Eagle Outfitters will pay Robert L. Hanson a salary of $1 million when he becomes CEO of the South Side teen clothier at the end of January. Mr. Hanson will also receive a $3.3 million signing bonus payable this year, restricted stock and options valued at $5 million, long-term incentive compensation of $3.2 million next fiscal year, and a $300,000 credit to his deferred compensation account. American Eagle disclosed the pay arrangements in a securities filing late Friday.
The index of U.S. leading indicators climbed more than forecast in October. The Conference Board's gauge of the outlook for the next three to six months rose 0.9 percent, the New York-based research group said Friday.
Citizens Bank of Pennsylvania will close nine branches in Pennsylvania, mainly in the southeastern part of the state, as it adjusts its branch network to reflect the increasing popularity of mobile and online banking, spokeswoman Sylvia Bronner said Friday. She said no closings were slated in Pittsburgh, but couldn't say if any were in Western Pennsylvania.
Calgon Carbon amended its $95 million revolving credit agreement set to expire in 2014, increasing the borrowing limit to $125 million and extending it until November 2016. The amended agreement is not secured, the Robinson environmental services company said.
United-American Savings Bank, South Side, said net income for the three months ended Sept. 30 fell to $110,000, or 38 cents per share, from $134,000 in the same period last year. Profits were hurt by a higher tax rate, the bank said. No comparable per-share figure was available for the year-ago quarter because the bank was not public for the entire period.
First Published November 19, 2011 12:00 am