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Briefs

Lutheran links with Birchwood

Lutheran Life Villages has announced plans to merge its home care division with Birchwood Inc., a facility that provides daycare to people with dementia, giving caregivers respite and time for other responsibilities. The deal is expected to close June 1.

Both organizations are nonprofits. Birchwood’s facility at 8151 Glencarin Blvd., off Illinois Road, will be renamed The Village at Birchwood.

Lutheran Life Villages now operates retirement homes and offers in-home care to families of older adults living in northeast Indiana. Services are customized, based on clients’ needs, and can include meal planning, preparation and cleanup; light housekeeping; transportation; bathing, dressing and grooming assistance; pet care; and companionship.

Alex Kiefer, president and CEO of Lutheran Life Villages, said the merger allows his organization to reach more families.

“Adult day services fills a gap between in-home services offered by our home care division and residential-based services at our three campuses in Kendallville and Fort Wayne,” he said in a statement.

PNC sees earnings increase 7 percent

The PNC Financial Services Group Inc. on Wednesday reported first-quarter earnings of $1.06 billion, or $1.82 per diluted common share, a 7 percent increase over the $995 million, or $1.74 a share, posted for the same three months of 2013.

William Demchak, president and CEO, said the period ended March 31 marked the fourth consecutive quarter that the Pittsburgh-based parent of PNC Bank reported more than $1 billion in earnings.

“We grew loans and deposits, we lowered expenses even as we continue to make investments across the business,” he said in a statement.

PNC reduced the amount of money it set aside to cover bad loans to $3.53 billion, compared with $3.83 billion for the first quarter of last year.

SDI earnings decline during harsh winter

Steel Dynamics Inc. on Wednesday reported first-quarter earnings of $38.6 million, or 17 cents per diluted share, a 20 percent decline from the $48.2 million, or 21 cents a share, posted for the same three months of 2013. Net sales were flat at $1.8 billion for both periods.

CEO Mark Millett said SDI’s Midwest steel operations were hit particularly hard by unusually severe winter weather in the quarter ended March 31. Financial results reflected “increased energy costs, reduced production, diminished availability of transportation and lower shipments,” he said.

The Fort Wayne-based steelmaker achieved two firsts during the quarter: The first shipments of premium rail, and smaller-diameter engineered steel bars.

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