Union Bankshares announces third quarter net income of 32 cents per share

first_imgUnion Bank,Union Bankshares, Inc. (NASDAQ ‘ UNB) today announced results for the third quarter of 2010. Net Income was $1.46 million or $0.32 per share compared to $1.44 million or $0.32 per share for 2009. Quarterly results reflect an increase in net interest income of $127 thousand, or 2.8%, a $116 thousand, or 7.7%, increase in noninterest income, and a reduction of $63 thousand in net expenses related to Other Real Estate Owned. These positive items were partially offset by a $58 thousand increase in personnel and benefit costs which is partially due to the opening of a new Loan Center in South Burlington, Vermont, in August 2010 as well as a $125 thousand increase in the loan loss provision due mainly to the growth and composition of the loan portfolio.The Company had total capital of $42.5 million with a book value per share of $9.54 as of September 30, 2010, compared to $40.3 million at September 30, 2009, with a book value per share of $9.02. Year to date earnings increased $259 thousand or 6.6% over the same period last year.A quarterly cash dividend of $0.25 per share was declared on October 20, 2010, to shareholders of record October 30, 2010, payable November 10, 2010.The Company is saddened to report the sudden passing in September of long-time Director Franklin G. Hovey II from Danville, Vermont. Franklin had been a director of the Company or a subsidiary since 1981 and Secretary of the Corporation since May 2010. Frank’s insight, humor and directness will be missed by all. On October 6, 2010, the Company announced the appointment of Director John H. Steel as Corporate Secretary.Union Bankshares, Inc., with headquarters in Morrisville, Vermont is the bank holding company parent of Union Bank, a full service bank offering deposit, loan, trust and commercial banking services throughout northern Vermont and northwestern New Hampshire. As of September 30, 2010, the Company had $451 million in consolidated assets, $377 million in consolidated deposits and operates 13 banking offices and 29 ATM facilities in Vermont, a branch and ATM in Littleton, New Hampshire, and a loan center in South Burlington, Vermont.Union Bank has been helping people buy homes and local businesses create jobs in area communities since 1891. Union Bank has earned an outstanding reputation for residential lending programs, is an SBA Preferred lender and has an outstanding Community Reinvestment Act rating. Union is proud to be one of the few community banks serving Vermont and New Hampshire and maintains a strong commitment to traditional values. Union is dedicated to providing genuine customer service and community support, donating tens of thousands of dollars to local nonprofits annually. These values–combined with financial expertise, quality products and the latest technology–make Union Bank the premier choice for your banking services, both personal and commercial. Member FDIC. Equal Housing Lender.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. When we use any of the words ‘believes,’ ‘expects,’ ‘anticipates’ or similar expressions, we are making forward-looking statements. The following factors, among others, could cause actual results and events to differ from those contemplated in the forward-looking statements: uncertainties associated with general economic conditions; changes in the interest rate environment; inflation; political, legislative or regulatory developments; acts of war or terrorism; the markets’ acceptance of and demand for the Company’s products and services; technological changes, including the impact of the internet on the Company’s business and on the financial services market place generally; the impact of competitive products and pricing; and dependence on third party suppliers. For further information, please refer to the Company’s reports filed with the Securities and Exchange Commission at www.sec.gov(link is external).Source:  Union Bankshares, Inc. (NASDAQ ‘ UNB. Morrisville, Vermont, October 20, 2010 ‘)last_img read more

Nottingham retail: Big is best

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The Latest: Positive test at Canucks’ parent company

first_imgEach of those three tournaments was scheduled to begin in April.The tour says a decision will be made “in the week ahead” about the rest of the European clay-court circuit.The next Grand Slam tournament is the French Open, which is scheduled to begin in Paris on May 24.___11:25 a.m. The British Horseracing Authority says “the intention is for scheduled race meetings to take place wherever possible.” It adds that “decisions may have to be made to cancel meetings.”BHA chief executive Nick Rust says the racing industry is “following the government’s advice to strike a balance between protecting public health and maintaining business activity.”More than 250,000 people attended the four-day Cheltenham Festival last week.No decision has been made on whether the Grand National Steeplechase will go ahead at Aintree next month. More Britons bet on that race than any other. ___ Germany was the last of Europe’s top five leagues to suspend games.The German soccer federation says that games in the top two women’s divisions and the women’s cup will be suspended through April 19.___2:05 p.m.British horse racing will take place without spectators and with restrictions on the number of attendees. Trent Carroll, chief operating officer of the Vancouver Canucks’ parent company, said the diagnosed individual was in self-quarantine and feeling better. The organization closed its offices Monday and employees were preparing to work from home “wherever possible.”“We are receiving guidance from the health authorities on next steps,” Carroll said.Canucks Sports & Entertainment, formerly known as Orca Bay Sports & Entertainment, owns the NHL Canucks and Rogers Arena, among other properties.___ 12:30 p.m.The international beach volleyball tour has postponed two more events, clearing the schedule of everything until May 6.The FIVB says a three-star event that was supposed to take place this week in Gold Coast, Australia, and a four-star tournament next week in Cancun, Mexico, have been postponed because of travel restrictions in response to the coronavirus pandemic. The events are crucial for athletes trying to qualify for the Summer Olympics, with more points available at the higher-rated tournaments.The FIVB says it is in contact with the IOC about “potentially revising the beach volleyball qualification system” for the Tokyo Olympics.As of Monday, four of the last nine points-rich four- and five-star events have been postponed or canceled. McLaren says the rest of the team has returned to Britain but will not go to the team’s headquarters for two weeks as a precaution.With the first four races postponed, the F1 season will not resume until May at the earliest.___11 a.m.Indianapolis Motor Speedway officials say they are holding off on postponing the month of May activities that conclude with the Indianapolis 500 on Memorial Day weekend. ___12:20 p.m.NHL players have been told they can return home and self-isolate there until the end of March while hockey is on hold amid the coronavirus pandemic.This signals a significant update on the league’s potential timeline to resume the season. Commissioner Gary Bettman announced last week the season was on pause and did not provide more specifics on how long that would last.Players had previously been told to remain in their team’s city and await further direction. The new directive comes in the aftermath of the CDC’s recommendation the U.S. not hold gatherings of 50 or more people for the next eight weeks. The committee says the accreditation cards that had been issued for Thursday’s ceremony at the stadium in Athens where the first modern Olympics were held in 1896 would not be valid.The body’s headquarters will also remain closed from Monday until further notice.The committee canceled the remainder of the Olympic torch relay last week after crowds gathered in southern Greece to watch part of the torch relay in Sparta, where the torch was carried by actor Gerard Butler.Greek health authorities have warned people to stay home, and have shut down everything from restaurants, bars and cafes to public organized beaches, ski resorts, hair salons and movie theaters, in an effort to curb the spread of the virus.Greece currently has 331 confirmed cases and four deaths. 1:55 p.m.The Hungarian soccer federation has temporarily suspended all of its competitions.Federation spokesman Jeno Sipos says clubs have been asked to forego training sessions and make it possible for players and staff members to stay home.Sipos says in a video posted on the federation’s Facebook page “we hope we are contributing to stopping the spread of the epidemic.”The federation’s announcement was in line with a government decision to have sports matches played in empty stadiums and only if organizers took responsibility. CSKA says it will discuss potential rescheduling and refunds for spectators later.The Russian league was the largest European soccer competition still operational over the weekend, with more than 33,000 fans attending a game between Zenit and Ural Yekaterinburg on Saturday.One large banner at the match read: “We’re all infected with soccer and will die for Zenit.”___2:10 p.m. The Latest: Positive test at Canucks’ parent company March 16, 2020 Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the coronavirus outbreak’s effect on sports around the world (all times local):12:40 p.m.A staff member of Canucks Sports & Entertainment has tested positive for COVID-19. Associated Press The German soccer league has extended its suspension through at least April 2.The extension covers the next round of games and the upcoming international break.League CEO Christian Seifert says “it doesn’t mean that we assume we can play from April 3.”Seifert adds that some clubs could face potential financial collapse and put “tens of thousands of jobs” at risk without funding from TV broadcasts and sponsors.Paderborn player Luca Kilian has tested positive for the coronavirus. Three players in the second division also have the virus. The leader of the IOC’s coordination commission for the Tokyo Olympics says there is no May deadline to cancel the games and he remains confident the event will go ahead despite sports coming to a virtual standstill globally amid the coronavirus outbreak.John Coates, who will have to go into government-mandated self-isolation when he returns to Australia this week from Olympic business in Europe, told the Sydney Morning Herald newspaper: “It’s all proceeding to start on the 24th of July.”Former IOC vice president Dick Pound said in an interview with The Associated Press last month that the end of May loomed as a possible deadline for the IOC to make a call on the Tokyo Olympics.But Coates, an IOC vice president and head of the Australian Olympic Committee, told the Sydney paper in a telephone interview from Switzerland that the IOC didn’t recognize the deadline and he thought Pound had backed away from it, too.Coates says “it’s never been the IOC’s position. It was Dick’s idea. There is four months to go.” The KHL said Saturday it was “in consultation with clubs and all relevant authorities to diligently manage the impact” of the virus outbreak.The KHL has not commented on the withdrawals and its website still lists those teams as competing. The next scheduled games between teams which have not withdrawn are Wednesday.___9:55 a.m.The Greek Olympic committee says the Olympic flame handover ceremony for the Tokyo Games will take place without spectators in an effort to contain the coronavirus outbreak. Speaking Monday in parliament, famously soccer-mad Prime Minister Viktor Orban said it would be even better if matches were not played at all.___1:30 p.m.The women’s professional tennis tour has suspended all competition until May 2 because of the coronavirus outbreak.The WTA says it is calling off clay-court tournaments in Stuttgart, Istanbul and Prague, adding those to a list of events previously canceled. The Indy 500 draws crowds in excess of 300,000.“We are aware of the CDC’s interim guidance suggesting the postponement of events involving more than 50 people over the next eight weeks,” the speedway said in a statement released before 6 a.m. local time.“Our priority is to do our part in protecting the public health while still conducting the 104th Indianapolis 500 presented by Gainbridge as scheduled on May 24. This continues to be a dynamic situation which we are monitoring constantly in coordination with federal, state, local and public health officials.”___10:10 a.m. ___11:10 a.m.McLaren says the team member who tested positive for coronavirus at the Australian Grand Prix “is recovering well” and that his “symptoms have gone.”The British team pulled out of the season-opening Formula One race on Thursday because of the positive test. The race was canceled on Friday.Fourteen members of the team were also placed in quarantine for 14 days after coming into close contact with the person who tested positive for the virus. McLaren chief executive Zak Brown says they are in “good spirits.” — Reporting by Hockey Writer Stephen Whyno___3:30 p.m.The Russian soccer league has taken a step closer to shutting down after CSKA Moscow canceled its upcoming game with Zenit St. Petersburg.The league is to meet Tuesday to discuss its response to the coronavirus outbreak. However, CSKA said it was no longer able to host Sunday’s game against Zenit after restrictions on mass gatherings in Moscow were tightened. A second team has withdrawn from the Kontinental Hockey League playoffs because of the coronavirus outbreak.The KHL is widely considered to be the strongest hockey league outside the NHL and is one of the few major sports organizations still operating in Europe.There are now six teams remaining in an eight-club conference semifinal bracket.Finnish club Jokerit withdrew Saturday citing concern for the health of its players and staff. Now Barys Astana says it is withdrawing after authorities in Kazakhstan banned sports events and restricted entry to the country.All six of the remaining teams are based in Russia, where various cities and regions have imposed their own restrictions. Spartak Moscow and Dynamo Moscow played in an empty arena on Wednesday. ___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6last_img read more

Fed Cup National Athletics shifted from Delhi, AFI fumes

first_imgNew Delhi, May 15 (PTI) The Federation Cup National Athletics Championships will be shifted to NIS Patiala after the Sports Authority of India denied permission to hold it at Jawaharlal Nehru Stadium here in view of FIFA U-17 World Cup, Athletics Federation of India said today. The tournament is scheduled to be held from June 1 to 4. A fuming AFI said that the SAI had earlier given the green signal to host the event at JLN but did a u-turn just two weeks before the event. The bone of contention is the use of throw area inside the football pitch, which will be used for the group matches of the U-17 World Cup in October. AFI wants to use the area, but SAI has refused. “We decided to host the Federation Cup at the JLN after getting permission from SAI. But now SAI said we cannot use the throw area inside the football pitch. So we are shifting the event to Patiala. The dates will remain the same,” AFI secretary C K Valson told PTI. “Fed Cup is an important event in our calendar and athletes can qualify for the World Championships. So athletes need the best competition area. We can hold the throw competition at the adjoining area but with top athletes like world junior record holder Neeraj Chopra we need to hold it proper competition area. “Moreover, we need crowd to cheer the athletes. There will be very few crowd at NIS. JLN is a proper athletics venue and crowd support can produce better performance of athletes. “So, SAIs refusal is not good for athletics. We have two important international events this year — Asian Championships in Bhubaneswar in July and World Championships in London in August. We need best competition facilities for athletes but it is not happening,” he added. PTI PDS AH ATKadvertisementlast_img read more