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House Bill 2030 Passes, Ellwood Council Hires Lobbyist to Oppose

Yesterday, House Bill 2030, which modifies the Ellwood City borough electric department, passed in a 106-89 vote. The bill, sponsored by Rep. Aaron Bernstine, R-10, New Beaver, will now pass to the state senate. The bill will prevent the borough from transferring funds from the electric department to the General Fund and includes additional provisions for consumer protection. The bill’s language limits its impact to boroughs providing electric to more than one county. Out of the 35 boroughs in Pennsylvania that supply electric, only Ellwood City is located in more than one county. “We are asking the borough of Ellwood…

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ESB Shareholders Sue to Block Sale of Bank

A press release from the law offices of Brodsky & Smith based out of Bala Cynwyd, Pa. announced that a lawsuit was filed on Dec. 15 by ESB Financial, Inc. shareholders regarding the sale of the Ellwood City branch. WesBanco Inc. of Wheeling, W. Va. disclosed that they had purchased ESB Bank in October. The agreement stated that WesBanco would pay ESB shareholders 0.502 shares of WesBanco stock and $1.76 in cash for each share of their ESB common stock. Shareholders are now claiming that ESB and WesBanco has devalued the price of their stocks. Plaintiffs are also saying that…

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