Bank profit see-sawed before sale: Union Fed investors may have tired of volatile performance

Union Federal Bank's profits have gone up and down like an electrocardiogram since a group of elite investors bought a major stake in the privately held institution in 1999. That wildly inconsistent performance likely played a role in the decision by investors to sell the bank, experts say. On Feb. 3, both the bank and its parent company were sold to Bowling Green, Ohio-based Sky Financial Group Inc. for $330 million. The bank had been the thirdlargest in town. After...

 

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