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PA court rules in Covid-era insurance case

Insurers do not have to cover lost revenue for businesses that were forced to shut down during the early weeks of the Covid-19 pandemic. That’s according to a ruling handed down yesterday by the Supreme Court of Pennsylvania in a class-action lawsuit originally filed in Allegheny County court by a dental practice.The decision resolves conflicts between lower courts […]

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Harrisburg-area mall sold for $8.8M

A Massachusetts-based developer is acquiring the Colonial Park Mall, an aging retail complex that local officials hope to see rejuvenated.A partnership headed by the developer, Zi Qian “John” Zhang, paid nearly $8.8 million for the mall, which is at 4600 Jonestown Road in Lower Paxton Township, according to county deed records.Zhang is still working on […]

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Campbell Commercial Partners

Tyler Matisse has been hired as an associate at Campbell Commercial Partners, a real estate firm in Lemoyne.Matisse is a graduate of Mechanicsburg Area Senior High School who went on to study business and hospitality management at Penn State Harrisburg. He has been licensed in real estate for over three and half years and has […]

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Voith

Dirk Hoke has been named president and CEO of Voith GmbH & Co. effective April 1. He will be succeeding Toraff Haag, who left the company in August. Andreas Enders, CEO of Voith Paper, is serving as interim CEO.Hoke has worked most recently as CEO of Volocopter, an aircraft manufacturer based in Bruchsal, Germany.After studying […]

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Community banks in northcentral PA to merge

Mifflinburg Bancorp and Northumberland Bancorp, a pair of small community banks in northcentral Pennsylvania. said yesterday they are combining in a merger of equals valued at $34.2 million. The all-stock deal is expected to close in the first half of 2025.Mifflinburg Bancorp has assets of about $568.5 million and operates seven branches in Mifflinburg, Lewisburg, Millheim, Milton, Selinsgrove […]

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Lenders balk at bankrupt winery’s reorganization plan

The bankruptcy sale of Spring Gate Winery is facing some headwinds.In legal filings this month, two lenders came out against the reorganization plan filed by the Harrisburg-area winery’s parent company, Schoffstall Farm LLC.At issue is the distribution of the proceeds from a sale of the winery, should a buyer be found.One lender, Horizon Farm Credit, is objecting to language saying it would […]

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Fulton edges past PNC for market-share lead

A seven-county swath of Central Pennsylvania has a new No. 1 when it comes to bank deposits.Lancaster-based Fulton Bank has eclipsed longtime leader PNC Bank for the top share of deposits in Adams, Cumberland, Dauphin, Franklin, Lancaster, Lebanon and York counties, according to the latest data from the Federal Deposit Insurance Corp.As of June 30, Fulton had 15.44% of […]

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WellSpan, health insurer clash over contract renewal

Health insurer UnitedHealthcare and regional health system WellSpan Health are sparring over a new contract governing their relationship, affecting about 36,000 patients in the region.Both entities say they are negotiating in good faith and hope to reach a deal before the current contract expires at the end of October. Nonetheless, they are taking aim at each other’s business models.In a […]

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Nonprofit lender lands $40M in tax credits to back projects

Community First Fund has been awarded $40 million in new market tax credits, which it can use to support economic-development projects around the region. The credits are awarded annually by the U.S. Treasury on a competitive basis. Based in Lancaster, Community First was awarded $30 million in new market tax credits last year.Those credits are helping to […]

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Potential TMI restart fuels hopes, faces hurdles

Part of the Three Mile Island nuclear power station is poised for a restart thanks to a growing thirst for electricity from data centers, the foundation of an economy built on machine learning, artificial intelligence and cloud computing.Plant owner Constellation announced plans Friday to restart unit 1 at the Dauphin County power station and sell its electricity […]

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McNees Wallace & Nurick

Alison Smith has joined the Pittsburgh office of the Harrisburg-based law firm McNees Wallace & Nurick as an of counsel attorney.Smith worked most recently as chief counsel for PNC Bank and brings 28 years of experience in fiduciary, nonprofit and estate planning law. She will practice in McNees’s orphans’ court litigation, estate planning and charitable/nonprofit […]

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Dauphin County Court Appointed Special Advocate Program

Carol Steinour Young has been named president of the board of directors of the Dauphin County Court Appointed Special Advocate Program, a nonprofit that arranges legal representation for children with interests before the court.Steinour Young, who had served as the board’s president-elect for the past eight months, joined the board in June 2022 and has […]

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PA revenue chief, state senator clash over tax-records request

A Pennsylvania state senator is escalating his dispute with the state revenue department over tax records related to an economic development zone in the Lehigh Valley.For the last few months, Sen. Jarrett Coleman has been seeking tax records related to a state-sanctioned improvement zone in downtown Allentown and questioning whether taxpayers are getting their money’s […]

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Prominent York restaurant to see new life

Restaurateur Victor Claffey is gearing up to open a restaurant called Bloom in the former Left Bank Restaurant and Bar in downtown York.Claffey, an Irish native with two decades of restaurant experience in Ireland and the U.S., hopes to infuse new life into the space, which is one of the oldest fine-dining establishments in York.“I think there is a […]

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Houck exec aims to bring down suicide risk in construction

After her older brother died by suicide nearly 20 years ago, Kara McCaffrey felt drawn toward efforts to prevent others from following.“It’s just something that I’ve always cared about,” said McCaffrey, whose family owns Houck Group, a regional construction contractor based in West Hanover Township, Dauphin County.The personal became professional when she started working in […]

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PennSpring Capital

Stephen Loiseau has been named vice president of corporate development for PennSpring Capital. It is a new role for the Lancaster-based private equity firm and involves overseeing growth for companies in PennSpring’s investment portfolio.Loiseau worked most recently as a sales rep for tech startup Motive. He also has experience as a principal in a real estate […]

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Fed rate cut seen locally as positive signal 

Yesterday’s half-point cut to interest rates will make businesses more comfortable with borrowing, particularly if they have an immediate need to spend.However, others may continue to hold off, anticipating further rate cuts and awaiting the outcome of the presidential election in November.That’s the view of local financial executives who spoke yesterday with biznewsPA shortly after […]

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