Vermont Agriculture Hall of Fame Awards Announced

first_imgVermont Agriculture Hall of Fame Awards AnnouncedWHAT: 6th Annual Vermont Agriculture Hall of Fame Awards BrunchThe Agriculture Hall of Fame Awards honor outstanding farmers, industry supporters and others dedicated to the success of our agricultural community. Farming is an integral part of the fabric and history of Vermont and these individuals are being honored for their commitment to promoting the economic and environmental stability of agriculture.This year’s recipients are:Senator Patrick LeahyDean MerrillSenator Justin Smith MorrillPhilip K. GrimeWHEN: Sunday, August 31, 2008 11:00 a.m.WHERE: Champlain Valley Exposition, Essex Junction, VermontExpo North Buildinglast_img read more

Merchants Bancshares declares 28-cent dividend

first_imgSOUTH BURLINGTON, VT–(Marketwire – October 20, 2011) – Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, announced that its Board of Directors declared today, October 20, 2011, a dividend of 28 cents per share, payable November 17, 2011, to shareholders of record as of November 3, 2011. Merchants plans to release earnings on or about October 25, 2011.Michael R. Tuttle, Merchants’ President and Chief Executive Officer, Janet P. Spitler, Merchants’ Chief Financial Officer and Geoffrey R. Hesslink, Executive Vice President and Senior Lender of Merchants will host a conference call to discuss these earnings results at 10:00 a.m. Eastern Time on Friday, October 28, 2011. Interested parties may participate in the conference call by dialing U.S. number (800) 230-1074; the title of the call is Merchants Bancshares, Inc. Earnings Call. Participants are asked to call a few minutes prior to register. A replay will be available until noon on Friday, November 4, 2011. The U.S. replay dial-in telephone number is (800) 475-6701. The international replay telephone number is (320) 365-3844. The replay access code for both replay telephone numbers is 200986.Vermont Matters. Merchants Bank strives to fulfill its role as the state’s leading independent community bank through a wide range of initiatives. The bank supports organizations throughout Vermont in addressing essential needs, sustaining community programs, providing small business and job start capital, funding financial literacy education and delivering enrichment through local sports activities.Merchants Bank was established in 1849 in Burlington, Vermont. Its continuing mission is to provide Vermonters with a statewide community bank that combines a strong technology platform with a genuine appreciation for local markets. Merchants Bank delivers this commitment through a branch-based system that includes: 34 community bank offices and 40 ATMs throughout Vermont; local branch presidents and personal bankers dedicated to high-quality customer service; free online banking, phone banking, and electronic bill payment services; high-value depositing programs that feature Cash Rewards Checking, Rewards Checking for Business, business cash management, money market accounts, health savings accounts, certificates of deposit, Flexible CD, IRAs, and overdraft assurance; feature-rich loan programs including mortgages, home equity credit, vehicle loans, personal and small business loans and lines of credit; and merchant card processing. Merchants Bank offers a strong set of comm ercial and government banking solutions, delivered by experienced banking officers in markets throughout the state; these teams provide customized financing for medium-to-large companies, non-profits, cities, towns, and school districts. Merchants Trust Company, a division of Merchants Bank, provides investment management, financial planning and trustee services. Please visit www.mbvt.com(link is external) for access to Merchants Bank information, programs, and services. Merchants’ stock is traded on the NASDAQ National Market system under the symbol MBVT. Member FDIC. Equal Housing Lender.Certain statements contained in this press release that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties. These statements, which are based on certain assumptions and describe Merchants’ future plans, strategies and expectations, can generally be identified by the use of the words “may,” “will,” “should,” “could,” “would,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target” and similar expressions. Forward-looking statements are based on the current assumptions and beliefs of management and are only expectations of future results. Merchants’ actual results could differ materially from those projec ted in the forward-looking statements as a result of, among others, general, national, regional or local economic conditions which are less favorable than anticipated, including continued global recession, impacting the performance of Merchants’ investment portfolio, quality of credits or the overall demand for services; changes in loan default and charge-off rates which could affect the allowance for credit losses; declines in the equity and financial markets; reductions in deposit levels which could necessitate increased and/or higher cost borrowing to fund loans and investments; declines in mortgage loan refinancing, equity loan and line of credit activity which could reduce net interest and non-interest income; changes in the domestic interest rate environment and inflation; changes in the carrying value of investment securities and other assets; misalignment of Merchants’ interest-bearing assets and liabilities; increases in loan repayment rates affecting interest incom e and the value of mortgage servicing rights; changing business, banking, or regulatory conditions or policies, or new legislation affecting the financial services industry, such as the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, that could lead to changes in the competitive balance among financial institutions, restrictions on bank activities, changes in costs (including deposit insurance premiums), increased regulatory scrutiny, declines in consumer confidence in depository institutions, or changes in the secondary market for bank loan and other products; and changes in accounting rules, federal and state laws, IRS regulations, and other regulations and policies governing financial holding companies and their subsidiaries which may impact Merchants’ ability to take appropriate action to protect Merchants’ financial interests in certain loan situations.You should not place undue reliance on Merchants’ forward-looking statements, and are cautioned that forward-looking statements are inherently uncertain. Actual performance and results of operations may differ materially from those projected or suggested in the forward-looking statements due to certain risks and uncertainties, which are included in more detail in Merchants’ Annual Report on Form 10-K, as updated by our Quarterly Reports on Form 10-Q and other filings submitted to the Securities and Exchange Commission. Merchants does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.last_img read more

NAFCU hits back at ABA smears

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NAFCU President and CEO Dan Berger wrote House and Senate leaders Wednesday to hit back against misleading attack ads on credit unions made by the American Bankers Association.Berger cited the high fines, settlement numbers and buy-backs accrued by big banks in recent years after the banks’ misconduct leading up to the financial crisis:Bank of America – $55.7 billionJPMorgan Chase – $23.8 billionCitigroup – $10.6 billionWells Fargo – $6.5 billion“We hope that the ABA will change their approach and they will focus instead their resources on issues that can help the entire financial services community, such as regulatory relief and creating a national data security standard,” Berger said in letters to Senate Majority Leader Mitch McConnell, R-Ky., Minority Leader Harry Reid, D-Nev., House Speaker John Boehner, R-Ohio, and Minority Leader Nancy Pelosi, D-Calif.Berger also countered ABA’s claims that “credit unions have unfair advantages and should be taxed.” He noted that an independent study commissioned by NAFCU showed that credit unions add $17 billion to the economy per year and that eliminating their tax exemption would result in the loss of 150,000 jobs per year. continue reading »last_img read more

Jokowi criticizes lackluster management of potential $116b foreign investments

first_imgPresident Joko “Jokowi” Widodo has criticized what he claims is the lackluster management of potential foreign investments amounting to Rp 1.6 quadrillion (US$116.8 billion) to date.“It’s a tremendous figure, it’s almost the same as the national state budget. However, it has never been managed properly,” Jokowi said in his speech at the National Investment Coordination Meeting in Jakarta on Thursday.The President went on to say that Indonesia no longer needed to lure in new investors, given the considerable number of potential investments that the country had already managed to attract — but only if all could be realized.  Furthermore, he noted that there were investment projects worth Rp 708 trillion that had been stalled in the country due to a number of factors last year. Read also: BKPM promises to ‘debottleneck’ $50b stalled investment projects“I call on every regional head, every PTSP [One-Stop Integrated Service] head to serve [all investors]. If there’s any issue, please help them resolve it. They can create so many new jobs for our people,” Jokowi said.He said that doubling down on the investment front was a surefire way to create job opportunities for the roughly seven million unemployed citizens across the country.Jokowi said the state budget contributed only 16 percent to the country’s economic growth. The figure increases to 23 percent if the state budget is combined with the budgets of regional administrations.The country’s gross domestic product (GDP) grew 5.02 percent last year, lower than the 5.17 percent recorded in 2018.As the second-largest contributor to GDP after household spending, investments expanded 4.06 percent in the fourth quarter, slower than 6.01 percent growth booked in the same period in 2018, Statistics Indonesia data shows.Topics :last_img read more