Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Fifth Third bank branches sold * Great Southern Bank is acquiring 12 branches and related deposits in the St. Louis area from Cincinnati-based Fifth Third Bank, Great Southern announced Wednesday. The acquisition, representing about $261 million in deposits and $155 million in loans, is expected to be completed in the first quarter of 2016, pending regulatory approval. The acquisition will increase Great Southern's St. Louis-area banking center total from eight to 20 offices. Local Fifth Third customer accounts will be transferred to Great Southern in the first quarter of 2016. Great Southern is a wholly-owned subsidiary of Springfield, Mo.-based Great Southern Bancorp Inc.

St. Louis jobless rate drops again * The St. Louis metro unemployment rate in August fell to 5.0 percent, the lowest in more than eight years, the government reported Wednesday. The rate is down from 5.3 percent in July. It was 6.1 in August 2014. The metropolitan area gained 4,000 jobs from July to August, and it gained 14,000 over the previous year, according to the Bureau of Labor Statistics. The yearly change equals a 1 percent increase in jobs here. The region's job count, which stands at 1.331 million, is still 28,000 below its high in early 2007. The region's 5.0 percent unemployment rate, seasonally adjusted, puts it below the national rate of 5.1 percent. It is the lowest rate for St. Louis since May 2007.

U.S. employers added 200,000 jobs in September * Shaking off financial market turmoil, U.S. companies accelerated their hiring in September and added 200,000 net new jobs, payroll firm Automatic Data Processing said Wednesday. The job growth was up from 186,000 in August, a figure that was revised down 4,000 from the initial estimate. Analysts had expected private sector hiring in September to be about 190,000 net new positions. Strong growth in construction offset heavy job losses in manufacturing, which was hit hard by a strong dollars and slowing global growth. …

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