December 20, 2014 6:19 PM ET

Thrifts and Mortgage Finance

Company Overview of PVF Capital Corp.

Company Overview

PVF Capital Corp. operates as the holding company for Park View Federal Savings Bank that provides various banking products and services. Its deposit products include checking, money market, and regular savings accounts, as well as certificates of deposit. The company’s loan portfolio comprises single-family residential real estate loans, commercial and multi-family residential real estate loans, residential and commercial construction loans, home equity line of credit, commercial non-real estate business loans, and commercial and consumer loans; fixed and adjustable-rate mortgage loans for the acquisition or refinancing of single-family residential homes; and permanent mortgage loans on con...

30000 Aurora Road

Solon, OH 44139

United States

Founded in 1920

165 Employees

Phone:

440-248-7171

Key Executives for PVF Capital Corp.

Chief Executive Officer
Age: 58
Senior Vice President of Operations
Executive Vice President
Age: 65
Director of Marketing and Marketing Director of Park View Federal Savings Bank
Senior Vice President of Information Technology and Director of Information Security Officer - Park View Federal Savings Bank
Age: 56
Compensation as of Fiscal Year 2014.

PVF Capital Corp. Key Developments

The U.S. District Court for the Northern District of Ohio Dismisses a Securities Fraud Class Action against PVF Capital Corp. and F.N.B. Corp

The U.S. District Court for the Northern District of Ohio dismissed a securities fraud class action brought by a shareholder against PVF Capital Corp. and related parties arising from the defendants' negotiation of the sale of the firm. An individual shareholder sued PVF Capital Corp., certain of PVF's officers, and F.N.B. Corp. alleging securities fraud arising from the defendants' negotiation of the sale of PVF to FNB and a third-party bank. The complaint alleged a proxy statement and other disclosures made in connection with the proposed acquisition contained material misstatements and omissions. The plaintiff alleged violation of §14(a) of the Securities Exchange Act of 1934 and breach of fiduciary duty, and sought to enjoin FNB's acquisition of PVF or rescission of the acquisition and award of rescissionary damages if the sale was consummated before the court's judgment was entered. The defendants moved to dismiss. The district court concluded the complaint failed to plead which specific statements in the proxy statements were rendered misleading by the defendants' alleged omissions. The plaintiff made no argument that any of the information she identified as omitted was required to be disclosed by an Securities Exchange Commission regulation. The plaintiff's sole basis for a violation of securities law rested on a claim that the omissions rendered specific statements in the proxy statement misleading. The complaint, however, identified no specific statements, as required under the pleading requirements of the Private Securities Litigation Reform Act of 1995. Rather, the complaint pointed to broad swaths of the proxy statement, if to any at all, that the plaintiff alleged were made misleading as a result of the omissions identified by the plaintiff. Accordingly, the district court granted the defendants' motion to dismiss the plaintiff's §14(a) claim and declined to exercise supplemental jurisdiction over the remaining state law breach of fiduciary duty claim.

PVF Capital Corp.(NasdaqCM:PVFC) dropped from NASDAQ Composite Index

PVF Capital Corp. will be removed from NASDAQ Composite Index.

Levi & Korsinsky LLP Announces the Filing of a Class Action Lawsuit Against the Board of PVF Capital Corp

Levi & Korsinsky LLP has filed a class action lawsuit in the United States District Court for the Northern District of Ohio (Civil Action No. 1:13-cv-01606) on behalf of all current stockholders of PVF Capital Corp. in connection with the proposed sale of the company to F.N.B. Corporation. The complaint alleges, among other things, that PVF Capital and the members of its board of directors violated Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 and Rule 14a-9, as promulgated by the U.S. Securities and Exchange Commission. More specifically, the complaint alleges that the defendants have filed proxy solicitation materials with the SEC that misrepresent or omit material information regarding FNB's proposed acquisition of PVF Capital.

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