Union Bankshares Announces Third Quarter and Year To DateEarnings and Quarterly Dividend PaymentMorrisville, VT October 15, 2008 – Union Bankshares, Inc. (NASDAQ – UNB) has announced net income for the quarter ended September 30, 2008 was $1.17 million or $0.26 per share compared to $1.42 million or $0.32 per share for the same period in 2007. Net Income year to date was $3.76 million or $0.84 per share for 2008 compared to $4.14 million or $0.92 per share for 2007.Third quarter earnings were adversely affected by the mark-to-market accounting requirement to write down to estimated fair value, through the income statement, investment securities deemed other than temporarily impaired. The Company’s management determined that approximately $512 thousand ($338 thousand after tax and 7.5 cents per share) of other-than-temporary impairments will be recognized in the third quarter of 2008 related to fixed maturity bonds of American General Finance (an AIG subsidiary) and Lehman Brothers Holdings. The Company did not own any Fannie Mae or Freddie Mac common or preferred stock and did not engage in any sub prime mortgage lending or investing.The Company remains well capitalized as defined under regulatory capital guidelines for financial institutions and bank holding companies.Loan demand has remained strong with total loans growing to $343.3 million as of September 30, 2008 from $315.5 million, an increase of 8.8%, from the same time last year. The drop in the Prime Rate from the first eight and a half months of 2007 at 8.25% to 5% as of September 30, 2008 and the impact on variable rate loans has more than offset the increase in loan income due to volume growth. Loan growth has been partially supported by the growth in deposits of approximately $15.2 million or 4.6% between years and the increase in advances taken to match fund certain loans via a credit facility with the Federal Home Loan Bank of Boston. Net interest income for the quarter is down $197 thousand as loan rates have dropped more quickly than rates on deposits and borrowings.The provision for possible loan losses of $45 thousand for the quarter was down from the 2007 third quarter provision of $190 thousand. The provision was higher in 2007 mainly because of charge-offs in the third quarter of 2007. There was also an increase in municipal loan volume during the third quarter of 2008 which historically have had no losses and are therefore at a low risk reserve factor.A quarterly cash dividend of $.28 per share was declared on October 15, 2008 to shareholders of record October 27, 2008, payable November 7, 2008.Union Bankshares, Inc., with headquarters in Morrisville, Vermont is the bank holding company parent of Union Bank, which offers deposit, loan, trust and commercial banking services throughout northern Vermont and in northwestern New Hampshire. As of September 30, 2008, the Company had approximately $423 million in consolidated assets. The Company operates 14 banking offices and 30 ATM facilities in Vermont, a branch and ATM in Littleton, New Hampshire. Our two newest branches, one in Danville, Vermont opened in July 2008 and a full service branch in St. Albans, Vermont opened October 2, 2008.Statements made in this press release that are not historical facts are forward-looking statements. Investors are cautioned that all forward-looking statements necessarily involve risks and uncertainties, and many factors could cause actual results and events to differ materially from those contemplated in the forward-looking statements. For further information, please refer to the Company’s reports filed with the Securities and Exchange Commission at www.sec.gov(link is external).
93SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Neen James Think force of nature. Boundless energy. Timely topics. Laugh out loud fun. Eye opening ideas. Take-aways that ACTUALLY create positive change. Sound like what YOU’RE looking for? Then Motivational … Web: www.neenjames.com Details Many credit union leaders are overwhelmed, overstressed, and overtired.Paying attention = increased member retention.Paying attention = increased productivity.Paying attention = increased accountability.Paying attention = increased engagement.Here are 10 strategies to help leaders pay more attention to their teams to assist increase productivity and accelerate engagement.Schedule 1:1 – regularly meet with your team, ask them to create agendas that focus on helping achieve their personal and professional development goals.Stop typing – when someone enters your office or your meeting, look up from your device.Turn off your phone – during meetings turn your phone over if you are distracted by messages or notifications, or better still, turn it to silent.Close your laptop – when someone enters your office, give them your undivided attention to focus on what they need.Disconnect from social media – the person in front of you is more important than the person online. Prioritize accordingly.Know what’s important to people – what are their goals, hobbies and interests.Keep detailed files – to include birthday, family and pet names so they know you are interested in their personal and professional lives.Use names – it sounds so fundamental and yet it’s so important! Increase engagement by using names. Dale Carnegie said ‘a person’s name is the sweetest sound’.Say thanks – every time someone does something for you – say thank you. Write notes, send emails, make public announcements, and share it in team meetings. Create an environment of appreciation.Reward achievements – recognize success in team meetings, on group emails, mention to senior management, provide bonus’, gift cards, time off … get creative with recognizing team members that achieve goals, get a new client, close a big sale or handle a difficult member.Credit Unions are about people helping people.As leaders let’s begin by paying special attention to our teams today. When we pay attention to our teams they pay more attention to our members. read more
Bloodied and dazed wounded people stumbled among the debris, glass shards and burning buildings in central Beirut as the health ministry reported 73 dead and 3,700 injured across wide parts of the country’s biggest city. “What happened today will not pass without accountability,” said Diab. “Those responsible for this catastrophe will pay the price.”General Security chief Abbas Ibrahim earlier said the “highly explosive material” had been confiscated years earlier and stored in the warehouse, just minutes walk from Beirut’s shopping and nightlife districts.The blasts were so massive they shook the entire city and could be heard throughout the small country, and as far away as Nicosia on the eastern Mediterranean island of Cyprus, 240 kilometers away. Two enormous explosions devastated Beirut’s port on Tuesday, leaving at least 73 people dead and thousands injured, shaking distant buildings and spreading panic and chaos across the Lebanese capital.The second blast sent an enormous orange fireball into the sky, immediately followed by a tornado-like shockwave that flattened the port and swept the city, shattering windows kilometers away.Prime Minister Hassan Diab said that 2,750 tons of the agricultural fertilizer ammonium nitrate that had been stored for years in a portside warehouse had blown up, sparking “a disaster in every sense of the word”. A soldier at the port, where relatives of the missing scrambled for news of their loved ones, told AFP: “It’s a catastrophe inside. There are corpses on the ground. Ambulances are still lifting the dead.””It was like an atomic bomb,” said Makrouhie Yerganian, a retired schoolteacher in her mid-70s who has lived near the port for decades. “I’ve experienced everything, but nothing like this before,” even during the country’s 1975-1990 civil war, she said. “All the buildings around here have collapsed.”Her 91-year-old uncle, who lived in the same building, was wounded in the blast and later died.AFP correspondents across the city saw shop and apartment windows blown out and streets covered with broken glass. Photos posted online even showed damage to the inside of Beirut airport’s terminal, some nine kilometers from the explosion.Hospitals already struggling with the country’s coronavirus outbreak were overwhelmed by the influx of wounded people and the country’s Red Cross called for urgent blood donations.’We saw the mushroom’ As the national defense council declared Beirut a disaster zone, Diab appealed to Lebanon’s allies to “stand by” the country and “help us treat these deep wounds”.Condolences poured in from across the world with Gulf nations, the United States and even Lebanon’s arch foe Israel offering to send aid.AFP video footage showed areas of near-complete devastation, with cars flipped onto their roofs like children’s toys, warehouses flattened and survivors drenched from head to toe in their own blood. “We heard an explosion, then we saw the mushroom,” said a Beirut resident who witnessed the second deafening explosion from her balcony in the city’s Mansourieh district. “The force of the blast threw us backwards into the apartment.”An AFP correspondent at the scene minutes after said every shop in the Hamra commercial district had sustained damage, with entire storefronts destroyed and many cars wrecked.A huge blaze sent up black smoke from the port area, as helicopters dumped water on burning buildings.A ship moored off the port was on fire, and the blasts also damaged a vessel deployed with United Nations peacekeeping force UNIFIL and injured some of its personnel. ‘Like an earthquake’ Hundreds immediately shared their shock and grief on social media.”Buildings are shaking,” tweeted one resident, while another wrote: “An enormous, deafening explosion just engulfed Beirut. Heard it from miles away.”Online footage from a Lebanese newspaper office showed blown out windows, scattered furniture and demolished interior paneling.The explosions hit a country already reeling from its worst economic crisis in decades which has left nearly half of the population in poverty, as well as from the coronavirus pandemic.Lebanon’s economy has collapsed in recent months, with the local currency plummeting, businesses closing en masse and poverty soaring at the same alarming rate as unemployment. Charity Save the Children said “the incident could not have occurred at a worse time”. The explosions came three days before a UN tribunal’s verdict on the murder of former Lebanese premier Rafic Hariri, who was killed in a huge 2005 truck bomb attack. Four alleged members of the Shiite Muslim movement Hezbollah are on trial in absentia at the court in the Netherlands over the huge Beirut bombing that killed Sunni billionaire Hariri and 21 other people. A woman in the city center Tuesday told AFP the blast “felt like an earthquake” and “bigger than the explosion in the assassination of Rafic Hariri in 2005”.Topics : read more
LAKE MILLS — It’s a suspended sentence and paying over $21,000 in restitution for a former Buffalo Center man accused of stealing 150 pigs from a confinement near Lake Mills in 2017.21-year-old Robert Morales, whose current residence is San Benito Texas, was accused of stealing the pigs from a Christensen Farms confinement in the late morning hours of November 4th 2017.The Winnebago County Sheriff’s Department had received a call after midnight on November 5th of pigs squealing in the 100 block of First Avenue East in Thompson, and a deputy who went to investigate reported seeing about 50 pigs in a snowmobile trailer with sides on it with a flat tire. The trailer was later impounded. Trail camera footage near the confinement led authorities to a vehicle belonging to Morales.Morales was charged with first-degree theft and third-degree burglary. As part of a plea deal with prosecutors, Morales pleaded guilty to the first-degree theft charge with the third-degree burglary charge being dismissed.District Judge DeDra Schroeder this week sentenced Morales to a ten-year prison sentence that was suspended and placed him on five years probation. He was also ordered to pay a $1000 fine and $21,882 in restitution.A co-defendant in the case, 35-year-old David Cortez Junior of Lake Mills, is currently scheduled to go on trial on April 10th. read more