Vanderburgh County Recent Booking Records
EPD Activity Report
North Soccer Teams to Host “Kick for the Cure†Games
Nearly every family knows someone who has been touched by cancer and students at North High School are doing their part to help raise money for research. On Wednesday, August 19, and Wednesday, August 26, the North High School girls varsity and junior varsity soccer teams are hosting their annual “Kick for Cure†games that helps raise money for Susan G. Komen.
The girls varsity soccer game will be against Central High School and will begin at 5:30 p.m. Wednesday, August 19 at EVSC Fields. The junior varsity game against Central is scheduled for Wednesday, August 26, at 4:30 p.m. at Central High School. At both games, the team will be selling “Kick for the Cure†t-shirts, wristbands, megaphones and more that will help support Komen.
Renting, the New American Dream
By Tom Purcell
Get this: Renting is the new American dream. And that doesn’t bode well for America.
According to a report by the Urban Institute, American homeownership rates are the lowest they’ve been in years and will continue to decline.
Homeownership, which peaked in 2006 at 67.3 percent, now sits at 63.6 percent, according to the U.S. Census American Community Survey. It’s been dropping ever since the financial collapse of 2008.
Between 2010 and 2030, the Urban Institute estimates, 22 million new households will form. The majority of them, 59 percent, will be renters, while just 41 percent will be homeowners.
Which means more households will vote for Democrats over Republicans.
According to a University of Virginia Center for Politics study, you see, “homeowners are much more likely to vote for Republicans than renters (34 to 18 percent), while renters are more likely to vote for Democrats than homeowners (44 to 35 percent).”
That’s because the responsibility of homeownership — the continuous hassles, expenses and taxes — brings out the conservative in even the most diehard liberal.
Boy, did I learn that lesson the hard way.
I had my first taste of ownership 17 years ago after buying a fixer-upper that made Herman Munster’s place look like the Trump Palace. The house nearly killed me.
When I tore off a rickety porch enclosure, I was stung multiple times by angry hornets.
It took me weeks to catch the mice in my attic, which woke me every morning at 3 a.m. as they scratched the ceiling, building their nests.
I nearly died the day ground bees attacked me. I poured a big cup of gasoline down their hole and nearly burned my house down when, after lighting it, flames shot out, 20 feet high.
I haven’t mentioned the snake incident, the electrical problem (I had to rewire most of the house) or how, every time it drizzles, the water in my basement makes Niagara Falls look like a lap pool.
Nor have I mentioned the battle with the septic tank, or the moron who dug it up and broke the lid — causing me to hand-dig a couple of tons of earth surrounding it while straddling the stinky thing for three days.
These are just some of the many miseries common to homeowners — miseries renters don’t know the first thing about. Add to these the constant trips to the hardware store to fix the things that break, as well as the taxes and other expenses that make homeownership a costly pain, and the typical homeowner will vote for more conservative principles.
Homeowners are more likely to vote for people who won’t raise our already costly utilities and property taxes. We’ll vote for the candidate whose policies will lower, rather than increase, the cost of building materials.
We want the person who will put an end to federally mandated low-flow toilets and washers and dishwashers — toilets, washers and dishwashers that don’t flush or clean very well.
My vote is for the politician who initiates pro-growth policies that will get homeownership back up to 2006 levels.
As homeownership increases, America will become much grumpier, thus much more likely to vote Republican.
We’ll demand simpler and lower taxes and other commonsense reforms. The economy will boom. Our property values will soar.
Then we can sell our homes at great profit, become renters and vote for Democrats — and finally start to enjoy life for once while we mooch off the people dumb enough to still own homes.
Fired Polaris technician wins reversal at 7th Circuit
Marilyn Odendahl for www.theindianalawyer.com
A former Indianapolis lab technician presented enough evidence to support her claims of discrimination and retaliation that the 7th Circuit Court of Appeals overturned summary judgment in favor of her former employer.
Chontel Miller filed a lawsuit against Polaris Laboratories after she was fired for not meeting performance goals. She was required to process 260 samples daily and over eight months, she never hit that level of productivity.
Miller, who was the only African-American processing technician, claimed racial discrimination caused her work to suffer. She charged her supervisors made racially derogatory comments about her and manipulated her trays of samples so she had more difficult work to do which slowed her down.
The U.S. District Court for the Southern District of Indiana granted Polaris’ motion to dismiss. Initially, the District Court denied summary judgment to Polaris on the discrimination claim, finding Miller had presented sufficient evidence under a cat’s paw theory that the racial bias of supervisors led to management’s decision to terminate her employment.
On reconsideration, the District Court agreed with Polaris that Miller had no evidence supporting her claim that the manipulation of her work by her supervisors could systematically reduce her productivity.
The 7th Circuit Court of Appeals did not agree. It found Miller had demonstrated a dispute of material fact on both her claims and reversed the ruling in Chontel M. Miller v. Polaris Laboratories, LLC, 14-2621.
Polaris countered that Miller’s firing was a direct consequence of her poor job performance. Miller did not dispute she was not meeting her quota but she argued her supervisors, acting upon their racial animus, tampered with her work.
The Chicago panel concluded Miller had cleared the hurdle by showing a dispute of fact on the question of whether the actions of the middle managers were motivated by racial animus. She presented evidence the supervisors referred to her in racially inappropriate terms.
On the more difficult question of whether her supervisors purposefully sabotaged her work and caused her termination, the 7th Circuit found Miller was also successful. In particular, the judges noted, Miller does not have to prove systematic tampering at this point. Rather, she only needs to produce evidence that raises an inference that such tampering occurred to the extent it slowed her productivity.
“It may be difficult to marshal evidence that coworkers and lower-level supervisors harbored discriminatory animus against a plaintiff and thwarted her ability to perform her work effectively, and it may be even harder to show that this is what lies behind a decisionmaker’s adverse job action,†Chief Judge Diane Wood wrote for the court. “Taking the summary judgment record in the light most favorable to Miller, however, as we must, we conclude that she has made it over the line. Although Polaris has some evidence that Miller’s work could not have been manipulated to the extent she claims, it is not ironclad.â€
AG Zoeller commends Clark County syringe exchange efforts, urges other at-risk counties to take action
INDIANAPOLIS – Indiana Attorney General Greg Zoeller commended local officials in Clark County today for moving forward to implement a syringe exchange to help reduce needle sharing among drug abusers that is fueling the HIV and hepatitis C crises in Indiana.
On Thursday, Clark County commissioners approved a request to the Indiana State Department of Health (ISDH) to begin a local syringe exchange. Before the request will be considered by ISDH, Clark County must also submit a plan for the implementation and evaluation of the syringe exchange. Clark County Health Officer Dr. Kevin Burke recommended a syringe exchange following his recent declaration of a health emergency in Clark County, noting that the county has 25 percent more HIV infections and 35 percent more hepatitis C infections than state averages.
To date, state health officials have approved syringe exchange programs in Scott and Madison counties.
“The hard work of Dr. Burke and the decision by the commissioners demonstrate an example of courageously confronting a public health emergency, and I applaud the leadership shown by all involved,†said Zoeller, who co-chairs the Indiana Prescription Drug Abuse Prevention Task Force. “I join local and state law enforcement and others in the criminal justice system who combat the scourge of drugs every day and recognize the unique and tragic circumstances that necessitate this action. Hopefully the courage shown today in Clark County and previously by Scott and Madison counties will encourage officials in other affected counties to take action.â€
The Task Force is made up of approximately 120 members including doctors, pharmacists, health officials, treatment providers and law enforcement all committed to reducing prescription drug abuse in Indiana.
The HIV outbreak in Southern Indiana, which began in Scott County, is linked to intravenous abuse of the prescription drug Opana through use of shared needles that can also transmit the HIV virus through cross-contamination. In Scott County, 175 people have now tested positive for HIV. Burke said he has seen the same warning signs in Clark County, which neighbors Scott County, including a rise in drug overdose deaths.
“We are making important progress to get a syringe exchange in place to respond to this local health crisis,” Burke said. “My office is developing a plan which will contain specifics on how the program will be implemented and evaluated to ensure success, help stop the spread of disease and hopefully save lives.”
In response to the HIV crisis, the Indiana General Assembly approved legislation during the 2015 session that authorizes ISDH to approve syringe exchanges in at-risk counties on a continuing basis, so long as the county meets certain requirements.
Zoeller was vocal in his support of the syringe exchange legislation as part of his role on the Task Force, noting the consensus among medical experts that providing clean syringes is the fastest way to halt further spread of a virus from infected individuals to non-infected ones. Additionally, syringe exchange programs help bring participants into screening and treatment programs for hepatitis C and HIV, as well as substance abuse.
“Though syringe exchanges are key in halting the spread of disease, we must address the rampant prescription drug abuse at the root of this crisis and that includes getting people access to addiction treatment,†Zoeller said.
For more information on the Task Force’s efforts to reduce prescription drug abuse and resources for the public, visit www.BitterPill.in.gov. The website also provides information on syringe exchanges and resources to help counties looking to implement a program. Click on the “Harm Reduction†tab on the website.
THE BEACH BOYS
Tickets go on sale Friday, August 28 at 10:00am.
Ticket Pre-sale is August 26 at 10am thru August 27 at 10pm. Pre-sale tickets are available through Ticketmaster online, by phone 1-800-745-3000 or at our Box Office.
Thursday, October 15 at 7:30pm THE BEACH BOYS |
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As The Beach Boys mark more than a half century of making music, the group continues to ride the crest of a wave unequalled in America’s musical history. The Beach Boys have become synonymous with the California lifestyle and have become an American icon to fans around the world. | |
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Price: $99, $79, $59, $39 |
First Security Inc. Announces Record Second Quarter and Year to date 2015 Results
 First Security Inc., the bank holding company for First Security Bank, Inc., announced today another record performance for the second quarter and first half of 2015 at First Security.
Highlights of the quarter include:
- Two New Records – We are pleased to report two new records in the history of our company.The strongest earnings for any second quarter and the strongest earnings for any first 6 months.
- Earnings – Second quarter earnings were $1,022,441, up $369,000 or 56% as compared to the second quarter of 2014. Year to date earnings for 2015 were $ 1,876,163 up $821,000 or 78% as compared to the same period in 2014.
- Growth- Sustained strong loan growth up over $17 million for the quarter and solid deposit growth, up over $12 million, along with a stable to growing net interest margin, indicate a continued ability to gain market share with new customers.
- Cash Dividend – A dividend was declared of $.17 per share payable to shareholders of record August 15, 2015, our 48th consecutive dividend.“We are very excited to be able to report record net income of nearly $1.9 million during the first half of 2015 and over $1.0 million during the second quarter of 2015. Existing operations not only grew their net income base in 2015 over 2014, but also provided enough of an increase to help the Company
overcome the investment expense in our newest branch office location in Lexington, Kentucky, †stated M. Lynn Cooper, President and CEO.
The Company also posted good deposit growth during the first half of 2015 as noninterest bearing deposits were up 24% year over year. These zero cost deposits are not only the Company’s cheapest source of funds, but also represent excellent core deposit customers. “We have implemented initiatives to increase our deposit balances to help augment our strong loan growth. We believe that these initiatives are important in growing a solid balance sheet that will help lead to even greater shareholder value,†further commented Mr. Cooper.
The second quarter 2015 financial report of First Security reflects current financial highlights for the second quarter as compared to the prior year’s second quarter.
- Assets at quarter end total $569 million, representing an increase of 13%
- Loans and Deposits increased 15% and 5% respectively
- Tangible Book Value increased $1.19 to $22.27 per share, up 6%
- Net Income increased $369,000 or 56%
- Provision for Loan Losses increased $15,000 or 3%
- Net Interest Income increased $632,000 or 16%
- Net Interest Margin increased from 3.44% to 3.53%, an increase of 0.09 points
- Non-Interest Income increased $91,000 up 9%
- Non-Interest Expense increased $162,000 or 4%
- Efficiency Ratio successfully declined to 67.0% as compared to 76.4%. This ratio has steadilydeclined as the Bank has grown its revenue from newly expanded locations.
- Non-Performing Assets to total assets improved and were 0.61% at the end of June 2015, adecline of 0.27% from the prior year’s ratio of 0.87%.
- Return on Assets improved from 0.53% to 0.72%
- Basic Earnings-Per-Share were $0.43 as compared to $0.19, up 126%. Second quarter earningsper share in 2014 were negatively impacted by a large number of new shares issued during the first quarter of 2014.
M. Lynn Cooper, President and CEO closed stating, “First Security remains steadfast in its commitment to build a franchise of quality people, products, services and customers.â€
$
$
$ $ $
$
$
$ $
June 2014
11,586,645 69,000 11,655,645
51,843,887 10,072,809 61,916,696
399,676,067 (4,195,545) (377,240)
395,103,282
2,575,629
1,591,029 15,144,104 284,265 4,346,458 1,341,042 6,508,029 3,419,291 503,885,470
51,255,030 348,151,559 399,406,589
36,447,763 4,276,119 9,875,000
450,005,471
11,565,727 23,002,358
– 11,842,558 8,576,169
(1,106,813) 53,879,999 503,885,470
24.05 21.08
FIRST SECURITY, INC.
Unaudited Consolidated Income Statement
Total interest income Total interest expense Net interest income
Provision for loan losses
Noninterest income
Service charges on deposits
Net gains on sale of loans
Net gains on sale of securities
Net gain (loss) on sale of OREO
Net gains on sale of fixed assets Bank Owned Life Insurance Income Other noninterest income
Total noninterest income
Noninterest expenses
Personnel expense
Occupancy and equipment expense Other noninterest expense
Total noninterest expenses Income before tax expense
Income tax expense
Net income
Net income per share – basic Net income per share – diluted
Average shares outstanding – basic Average shares outstanding – diluted
Performance ratios
Return on average assets Return on average equity Net interest margin Efficiency ratio
Asset Quality
Allowance for Loan Loss to Loans
Non Performing Assets to Assets
Non Performing Loans to Loans
Allowance for Loan Loss to Non Performing Loans
June – Quarter to Date
June – Year to Date
2015
5,727,476 1,158,488 4,568,988
390,000
296,741 301,488 – – – 77,944 473,906 1,150,079
2,020,143 815,981 997,258
3,833,382 1,495,686 473,245 1,022,441
0.43 0.42
2,383,611 2,697,815
0.72% 7.01% 3.53% 67.0%
June 30, 2015
1.13% 0.61% 0.76%
149.02%
2014
5,140,568 1,203,342 3,937,226
375,000
332,594 185,294 –
(23,382) 92,520 48,709
423,217 1,058,953
2,087,463 578,905 1,004,641 3,671,009 950,169 296,403 653,766
0.19 0.19
2,286,202 2,600,406
0.53% 4.82% 3.44% 73.5%
2015
11,507,645 2,293,112 9,214,533
775,000
617,693 529,146 –
(13,996) –
156,874
850,255 2,139,972
4,092,355 1,599,825 2,158,544 7,850,724 2,728,781
852,618 1,876,163
0.79 0.79
2,378,684 2,692,888
0.69% 6.48% 3.61% 69.1%
2014
10,155,847 2,499,360 7,656,487
750,000
609,457 308,843 –
(23,382) 92,520 101,280 777,482 1,866,200
4,179,853 1,151,526 1,939,124 7,270,503 1,502,184
446,827 1,055,357
0.68 0.68
1,554,894 1,869,098
0.43% 5.17% 3.42% 76.4%
$ $ $
$
$
$
$ $
$
$ $
$ $ $
$
$ $
$ $
$
$ $
$ $ $
$
$ $
$ $
$
$ $
$ $ $
$
$ $
$ $
$
$ $
December 31, 2014
1.09% 0.75% 0.93%
117.58%
June 30, 2014
1.05% 0.87% 1.03%
101.99%
Press Release For: Immediate Release
Date: August 14, 2015
For further information contact:
M. Lynn Cooper, President and CEO, 270-663-4678 or LCooper@FirstSecurity.net or
Michael Beckwith, E.V.P. and Chief Financial Officer, 270-663-4668 or MBeckwith@FirstSecurity.net 313 South Frederica Street, Owensboro, KY 42301
First Security Inc. Announces Record Second Quarter and Year to date 2015 Results
Owensboro, Kentucky – First Security Inc., the bank holding company for First Security Bank, Inc., announced today another record performance for the second quarter and first half of 2015 at First Security.
Highlights of the quarter include:
- Two New Records – We are pleased to report two new records in the history of our company.The strongest earnings for any second quarter and the strongest earnings for any first 6 months.
- Earnings – Second quarter earnings were $1,022,441, up $369,000 or 56% as compared to the second quarter of 2014. Year to date earnings for 2015 were $ 1,876,163 up $821,000 or 78% as compared to the same period in 2014.
- Growth- Sustained strong loan growth up over $17 million for the quarter and solid deposit growth, up over $12 million, along with a stable to growing net interest margin, indicate a continued ability to gain market share with new customers.
- Cash Dividend – A dividend was declared of $.17 per share payable to shareholders of record August 15, 2015, our 48th consecutive dividend.“We are very excited to be able to report record net income of nearly $1.9 million during the first half of 2015 and over $1.0 million during the second quarter of 2015. Existing operations not only grew their net income base in 2015 over 2014, but also provided enough of an increase to help the Company
1
overcome the investment expense in our newest branch office location in Lexington, Kentucky, †stated M. Lynn Cooper, President and CEO.
The Company also posted good deposit growth during the first half of 2015 as noninterest bearing deposits were up 24% year over year. These zero cost deposits are not only the Company’s cheapest source of funds, but also represent excellent core deposit customers. “We have implemented initiatives to increase our deposit balances to help augment our strong loan growth. We believe that these initiatives are important in growing a solid balance sheet that will help lead to even greater shareholder value,†further commented Mr. Cooper.
The second quarter 2015 financial report of First Security reflects current financial highlights for the second quarter as compared to the prior year’s second quarter.
- Assets at quarter end total $569 million, representing an increase of 13%
- Loans and Deposits increased 15% and 5% respectively
- Tangible Book Value increased $1.19 to $22.27 per share, up 6%
- Net Income increased $369,000 or 56%
- Provision for Loan Losses increased $15,000 or 3%
- Net Interest Income increased $632,000 or 16%
- Net Interest Margin increased from 3.44% to 3.53%, an increase of 0.09 points
- Non-Interest Income increased $91,000 up 9%
- Non-Interest Expense increased $162,000 or 4%
- Efficiency Ratio successfully declined to 67.0% as compared to 76.4%. This ratio has steadilydeclined as the Bank has grown its revenue from newly expanded locations.
- Non-Performing Assets to total assets improved and were 0.61% at the end of June 2015, adecline of 0.27% from the prior year’s ratio of 0.87%.
- Return on Assets improved from 0.53% to 0.72%
- Basic Earnings-Per-Share were $0.43 as compared to $0.19, up 126%. Second quarter earningsper share in 2014 were negatively impacted by a large number of new shares issued during the first quarter of 2014.
M. Lynn Cooper, President and CEO closed stating, “First Security remains steadfast in its commitment to build a franchise of quality people, products, services and customers.â€