Source: MORRISVILLE, Vt., Oct. 21, 2009 (GLOBE NEWSWIRE) — Union Bankshares, Inc (Nasdaq:UNB) today announced net income for the quarter ended September 30, 2009 of $1.44 million or $0.32 per share compared to $1.17 million or $0.26 per share for the same period in 2008. Net Income year to date was $3.95 million or $0.88 per share for 2009 compared to $3.76 million or $0.84 per share for 2008.Total Assets have grown $20.9 million, or 4.9%, to $443.9 million at September 30, 2009 from $423.1 million at September 30, 2008 while total deposits have grown $20.8 million, or 6.0%, to $369.4 million at September 30, 2009 from $348.6 million at September 30, 2008.Loan demand from new customers and refinancings continue to be strong with total loans growing to $351.9 million as of September 30, 2009 from $343.3 million, an increase of 2.4%, or $8.6 million, from the same time last year despite originating and selling $59.1 million residential mortgage loans to the secondary market over the last 12 months. The drop in the Prime Rate from the beginning of 2008 at 7.25% to 3.25% by the end of 2008, where it remains today, has driven the refinancing boom for residential and commercial mortgage customers. The impact of the prime rate drop on variable rate loans and new lower fixed rate loans have more than offset the increase in loan income due to volume growth with interest and fees on loans year to date at $16.3 million for 2009 versus $17.0 million for 2008. The growth in loans has been supported by deposit growth. Net interest income increased $157 thousand, or 3.6%, for the quarter over 2008 and $316 thousand, or 2.4%, year over year. The provision for possible loan losses increased $60 thousand from $185 thousand for 2008 to $245 thousand for 2009 mainly due to the growth in the loan portfolio as past due loans decreased from both September 30, 2008 and December 31, 2008.Expense related to FDIC insurance coverage was $566 thousand for 2009, of which $191 thousand was the special emergency assessment, compared to $37 thousand for 2008. The expense for the quarter ended September 30, 2009 was $101 thousand compared to $14 thousand for 2008 with the increase between years attributable to deposit growth as well as higher “regular” assessment rates.A quarterly cash dividend of $.25 per share was declared on October 21, 2009 to shareholders of record October 31, 2009, payable November 12, 2009.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, 2009, the Company operated 13 banking offices and 28 ATM facilities in Vermont as well as a banking office and ATM in Littleton, New Hampshire.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).
Categories: Letters to the Editor, Opinion The gun violence fracturing America has produced a new debate over whether the perpetrators of this violence should be put into hospitals designed to help them. It would be better to do this beforehand rather than after the act.That’s the case for the asylum. President Trump has called for more asylums and is joined by some psychiatrists.The new asylum is a more transparent version that provides long-term treatment options. Adults lacking insight and who are chronically psychotic, unable to care for themselves, and potentially dangerous have few high-quality long-term care options available, said Dr. Dominic Sisti, a University of Pennsylvania psychologist. He noted the extreme shortage of inpatient psychiatric beds in the United States and the disastrous policy of states to let the supply of beds dwindle to 1850 levels. That’s what is believed to have led so many distraught and dangerous young men to go untreated and living in our midst as potential time bombs.Today, for the unsafe and unstable, the choice is either prison, homelessness and short-term hospitalization or else long-term psychiatric care. A return to asylums that are safe, modern and humane is believed “morally appropriate.”The Worcester Recovery Center and Hospital in Massachusetts, which combines treatment with research and medical education, is a modern model for asylums where patients are treated with dignity and respect. It may take more than the extended efforts of psychiatrists to work miracles on the angriest individuals, but the ideas are promising.Roy NevilleSchenectadyThe writer is former president of NAMI Schenectady and its newsletter editor.More from The Daily Gazette:Motorcyclist injured in Thursday afternoon Schenectady crashSchenectady High School senior class leaders look to salvage sense of normalcyEDITORIAL: Find a way to get family members into nursing homesSchenectady’s Lucas Rodriguez forging his own path in dance, theater, musicSchenectady man dies following Cutler Street dirt bike crash
He was brought to the Kabankalan City policestation, where he was detained and charged./PN BACOLOD City – Suspected shabu valued ataround P200,000 was seized in a buy-bust operation in Barangay 2, KabankalanCity, Negros Occidental. Alfredo Bustamante III, 40, yielded thesuspected illegal drugs, a police report showed. Prior to his arrest, Bustamanteallegedly sold a sachet of shabu to an undercover officer around 9:45 p.m. onDec. 17.
On July 12 2017, the Kumasi Asante Kotoko team bus was involved in a fatal accident that led to the death of one with many others sustaining injuries.Three years on, Isaac Amoako, an ex-goalkeeper of the club has stated that those who were involved in the accident have not been compensated by the club.According to Amoako, Dr Kwame Kyei who currently serves as the head of the new board of directors of Asante Kotoko has failed to live up to his promise of compensating the players involved in the accident.“Coming Sunday (July 12 2020), will mark three years since the horrific incident happened but still not received a penny from Kotoko and we don’t know as to when our compensations would be paid,” Amoako is reported to have said on Sunyani-based BA TV.“The refusal of the Kotoko leadership to pay our monies has placed a heavy toll on most of the victims. Longest-serving team driver Nana Berchie has been at home due to the accident he had, while Baba Mahama and Ollenu Ashitey have had their playing careers stymied.”Amoako revealed that a delegation of those involved in the accident has met with the newly constituted three-member committee appointed by Otumfuo Osei Tutu II to investigate the club’s affairs in April and are still waiting to be sorted out by the club.“We are aware that the newly constituted board led by the previous board chair, Dr Kwame Kyei who held that position at the time of the accident, had begun paying off several debts incurred by the club but still not heard from him,” he added.“We will not keep quiet until Kotoko leadership pay our compensation to us (Victims),” Amoako concluded.Background of the accidentOn July 12 2017, the Kumasi Asante Kotoko team bus was involved in a fatal accident at Nkawkaw in the Eastern Region after a league match with Inter Allies.The team bus with registration number, AS 7329-13 was carrying a total of 35 people incurred the accident around 9:45 pm.Some officials of the team including the Assistant Coach, Godwin Ablordey, players Baba Mahama, Ahmed Adams, Nana Berchie and Amos Frimpong sustained varying degrees of injuries.The team’s equipment manager, Thomas Obeng Asare lost his life in the process.
Clippers hope they can play to their capabilities, quell Mavericks’ momentum Kristaps Porzingis ruled out as Clippers, Mavericks set for Game 5; Follow for game updates There’s been no outright “warning” to the league articulated by the Clippers ahead of Paul George’s arrival this week – likely to come Thursday in New Orleans, according to Yahoo Sports’ Chris Haynes – but that’s not to say Doc Rivers’ team isn’t licking its chops in anticipation.After Rivers offered a coach’s hat-tip to Nick Nurse and the Raptors for setting traps all game for Kawhi Leonard that effectively held him to a season-low 12 points in the Clippers’ 98-88 victory Monday, Rivers took pleasure in knowing that George’s presence will help keep opposing defenses honest.The six-time All-Star wing – who officially is listed as questionable on the Clippers’ injury report ahead of their game in Houston – has missed the Clippers’ first 10 games while finishing his rehabilitation from offseason shoulder surgeries.“Just imagine when you have Kawhi and Lou (Williams) and Paul and a team tries to trap you, with Trezz (Harrell),” Rivers said. “You’re gonna pretty much get what you want.” What the Clippers are saying the day after Luka Doncic’s game-winner tied series, 2-2 For Lakers’ LeBron James, Jacob Blake’s shooting is bigger issue than a big Game 4 victory Leonard made it clear after Monday’s victory that, regardless of complaints by fans or anyone else, he’ll do what he believes is best for his health, and ultimately, for the Clippers’ prospects moving forward.“You just can’t buy into what people are saying,” Leonard said. “My health is No. 1. That’s what’s gonna make us be a better team, make me be healthy, so we’ll just see how things go.”SHAMET UPDATEAn MRI on Tuesday determined that starting shooting guard Landry Shamet avoided serious injury, suffering a Grade 2 high left ankle sprain, ESPN’s Adrian Wojnarowski reported. No timetable for Shamet’s return has been announced.Related Articles Shamet was injured while defending a drive by his former Wichita State teammate Fred VanVleet with 1:45 left in the third quarter.Immediately after the game, Rivers said he didn’t yet know the severity of the injury to his second-year sharpshooter, who had to be helped off the floor and then later left the locker room on crutches.Shamet, who also suffered a left wrist injury this preseason, is averaging 9.1 points and shooting 39 percent from the field and 36.2 percent from 3-point range. He’s cooled off after a sensational rookie campaign in which he shot 43.1 percent overall and 42.2 percent from beyond the arc. Newsroom GuidelinesNews TipsContact UsReport an Error Clippers forward Moe Harkless marveled at what inserting George into the Clippers’ plans will mean, especially defensively: “That’s another guy who on both ends of the floor is a truly phenomenal player, man. And defensively, I don’t think he gets enough credit (although) he’s always in the running for All-Defensive team.”The impact George will make on the already imposing, improving Clippers – who went 7-3 against the league’s second-strongest schedule thus far, according to ESPN – is easier to predict than Leonard’s availability this week.It remained less clear whether George’s debut, if it does come on the second night of a back-to-back set of games, will occur alongside Leonard, or whether Leonard will play Wednesday in Houston and miss Thursday’s game in New Orleans as he continues to manage an injury to the patella tendon in his left knee.Leonard is not listed on the team’s injury report, but if he was a load-management scratch Wednesday, his three absences all would have been nationally televised on ESPN.The Clippers entered the season scheduled to have 11 games apiece broadcast on ESPN and TNT, and four on ABC (Ch. 7) – a significant spike from last season, when the team sans All-Stars didn’t initially figure at all into ABC or ESPN’s plans (ESPN picked up a pair of games during the season) and was on TNT just three times. Clippers vs. Mavericks Game 5 playoff updates from NBA beat reporters