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First Security Bank Announces Record 2014 Results

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Owensboro, Kentucky- First Security Inc. (The holding company for First Security Bank, Inc.) announced their performance for 2014. “We are extremely pleased to report another record year for First Security in terms of performance, growth, and profitability. These results clearly indicate great success in executing our strategic plan of building a premier banking franchise,” stated M. Lynn Cooper, President and CEO. “

General highlights of the year include:

  • Net income of nearly three times 2013 net income and an all-time record for First Security, Inc.
  • Raised $31.7 million in new capital to help support our continued expansion and growth

    strategy

  • Registered First Security, Inc. as an OTC Bulletin Board Stock, symbol FIIT
  • Credit quality continues to remain strong and better than our peers

    Financial highlights for the year as compared to one year ago unless indicated otherwise.

  • Basic Earnings-Per-Share was $1.60, an increase of $0.20 per share or 14% over the prior year. Comparing fourth quarter of 2014 to 2013 reflects an increase of $0.11 per share or 30%.
  • Assets at year end total $546 million, representing an increase of 14%.
  • Net Income for the 4th quarter was $1.1 million or an increase of $800,000 over the same

    quarter in 2013. Year-to-date net income was $3.1 million, an increase of $2.0 million or 182%

    over 2013.

  • Non-Interest Income, excluding investment gains, was up 30% for the year.
  • Non-Interest Expense was up only 1% for the year.

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  • Non-Performing Assets to total assets were 0.75% at the end of 2014, an improvement of .22% from the prior year’s ratio of 0.97%.
  • Return on Assets improved from 0.25% to 0.62% for the year and improved from 0.24% to 0.81% compared to fourth quarter of 2013 to 2014.
  • Return on Equity for the year improved from 4.51% to 6.23% and improved from 4.78% to 7.58% compared to fourth quarter of 2013 to 2014.
  • Basic Earnings per share was $1.60 per share, an increase of $0.20 per share or 14% over the prior year. Comparing fourth quarter of 2014 to 2013, reflects an increase of $0.11 per share or 30%.
  • A dividend of $0.16 per share, the 46th consecutive dividend, was declared to all shareholders of record as of February 15, 2015, the record date.

    Other areas of note include improvement to net interest margin and return on assets. See attached year-end 2014 financial summary.

    Mr. Cooper commented, “We are very excited about our achievements during 2014, especially considering we had a major conversion to a new core-processing system this past fall. This new system will provide us the means to continue to grow for years to come and enhance the service offerings for our customers, including the soon to be released Mobile Banking platform.”

    “Also, we opened our 11th branch, located in Lexington, Kentucky, the first week of January of this year. We took advantage of an opportunity to purchase a former bank branch building off Reynolds Road on Ruccio Way known in the Lexington area as Wellington. This is our second location in Lexington, and is currently one of our fastest growing markets in the company,” stated Mr. Cooper.

    In closing, Mr. Cooper stated, “We have had strong growth in all of our markets with the larger markets showing slightly better growth numbers.”

    First Security Bank has locations in Owensboro, Bowling Green, Franklin and Lexington, Kentucky in addition to Evansville and Newburgh, Indiana.

IS IT TRUE February 23, 2015

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IS IT TRUE that Indiana Bill SB1320 is seeking to make entering an early stage market that struggles with cloud cover more expensive for Indiana businesses and customers who are early adopters of solar energy?…specifically this bill will allow the utilities that are regulated by the Indiana Utilities Regulatory Commission to charge people who have installed or are contemplating the installation of solar panels generate their own electricity for infrastructure associated with the generation, transmission, and distribution of electrical power?…on the surface there is nothing inherently wrong about this concept and it is already working very will in California where the amount of sunshine and the high electrical rates have precipitated a rapid acceptance of PV Solar for self generation?…what needs to be understood is that even with net metering which Indiana already has, solar adopters use the infrastructure of the utility companies when the sun sets or when the clouds reduce the output of those systems and it is only fair that the utility is paid for the service provided?…the dust up is over the anticipated amount that this may be?

IS IT TRUE this writer lives in the legislated monopoly region of Southern California Edison that has some of the highest effective utility rates in America?…at lower use levels Edison is about 20% cheaper than Vectren but the upper three tiers can be as much as double what Vectren’s one price fits all structure charges?…Edison also offers time of use rate schedules that allow solar generators to sell power to Edison during the day at higher rates that they are charged during the evening when the wholesale costs of power are much lower?…it is certain that Edison’s billing structure is much more sophisticated than anything that SB1320 is considering and it got that way through years of learning?…what many do not understand is that massive adoption of distributed generation with smart meters in place disrupts the way the electrical grid works by altering the “duck curve”, which is essentially the use vs. time profile that utilities use to make sure they have the capacity to deliver power when it is needed where it is needed?

IS IT TRUE my solar system costed just under $19,000 and has completely eliminated by electric bill?…I even got a check back from Edison at the end of the year?…part of my bill is a minimum monthly charge of $1.83 to cover the cost of Edison’s infrastructure that I absolutely need for my solar system to be cost effective?…it is expected that this fee will rise to $10 per month over the next 5 years as approval from the California Utilities Commission grants it?…that price seems fair and sufficient?…this may sound strange but I actually think I am benefiting more than I should at only $1.83 for access to what is essentially a big free battery called the grid?…as utilities seek to impose fees such as this distributed storage is currently being developed so that residential homes that are willing to invest in local energy storage can go completely off the grid?…it is also only fair that when the grid tie is no longer needed that all fees to the utilities should go to zero?…in the meantime, I encourage my Indiana friends to contact your legislators so that the fees associated with having a grid tie are not excessive or usury?…to do that effectively will take smart metering, time of use billing, and a fee that reflects the actual use of a PV generator that does not use the infrastructure nearly as much as someone who does not have solar?

IS IT TRUE it looks like the taxpayers of Evansville are about to be gouged for another demolition and cleanup bill for a bankrupted LLC?…last month it was Miller Plating eating at the public trough and this week it is that old flea market building across the street from Bosse Field?…the $300,000+ for this mess plus the Miller Plating tab will bring the total for the year to close to $2 Million?…this is a direct effect of poor public policy that allows a building owner to walk away without any obligation for the damage created by their failure to maintain their buildings and processes to acceptable standards?…it is easy to blame the offenders here, but the guilty party is the law of the land that allows for such nonsense?

IS IT TRUE the traffic patterns for the City County Observer in 2015 almost exactly mirror the patterns from last year?…the monthly page view rate was 150,000 then and it is 150,000 now?…the unique IP addresses that log onto the CCO in 2014 and 2015 are both within 1% of 13,000 per month?…we ask for the positive thoughts and prayers of our readership for our owner Ron Cosby who is battling an extremely painful and threatening medical condition?

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Vanderburgh County Recent Booking Records

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SPONSORED BY DEFENSE ATTORNEY IVAN ARNAEZ.
 DON’T GO TO COURT ALONE. CALL IVAN ARNAEZ @ 812-424-6671.

EPD Activity Report

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SPONSORED BY DEFENSE ATTORNEY IVAN ARNAEZ.
DON’T GO TO COURT ALONE. CALL IVAN ARNAEZ @ 812-424-6671.

EPD Activity Report

 

Unconventional Pairings

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WINE TALK
BY ROBERT WHITLEY

There are some who believe advice that suggests specific wines match up better with specific foods is a silly waste of analysis. That’s the drink-whatever-you-like-crowd, and there is some merit to their argument.
To that point, I have a friend who drinks red wine with everything and he’s happy as a clam, even when he’s sipping cabernet sauvignon over a bowl of steamed clams. It wouldn’t be my choice, but taste in wine is so personal I’ve given up on attempting an intervention.
And you can bet that during the recent Valentine’s Day orgy of sweet excess, many a bottle of Champagne was consumed while chomping on chocolate, despite repeated warnings that sweet confections are a ruinous combination with high-acid bubbly.
Nevertheless, it seems there is always someone crying out for help with a wine pairing for an upcoming dinner party, and I stand ready to assist.
So it was when a reader from Atlanta by the name of Trish asked for my wine suggestion for a spicy cioppino dish. This sort of fish stew makes for a tricky wine pairing because the traditional idea of serving white wine with fish is foiled by the strong savory element imparted by a rich tomato sauce.
Few white wines can stand up to an earthy, spicy cioppino sauce. Even though this dish was created in San Francisco, I take my wine cues from Italy, specifically Sicily, where red wine with fish is imbedded in the culinary culture. I recall many delicious fish dishes bathed in capers, olives, onions and tomatoes served with nero d’avola.
So that is my recommendation for this delicious seafood dish. Alternative red wines, depending on what’s available near you, would be Cotes du Rhone rouge, Beaujolais cru or even a light Rioja crianza. Unconventional, yes. But sure to please.
Best Value
Domaine Chiroulet 2013 ‘Terres Blanches,’ Cotes de Gascogne, France ($12) — While most whites from southwest France tend to be simple, fresh and clean, there are the handful that have a higher calling. Domaine Chiroulet shoots for a suave complexity with its Terres Blanches, using a higher percentage of sauvignon blanc (40 percent) than is typical, and lees stirring provides additional complexity and body. The remainder of the blend are the traditional grapes gros manseng and ugni blanc, but this wine seems to be all about the sauvignon. It exhibits hints of melon and citrus, with an interesting back note of brioche though it spends no time in barrel. It’s well balanced, with crisp acidity and inviting minerality. A gem at the price. Rating: 90.
Vina Robles 2012 ‘Red 4,’ Paso Robles ($17) — Though it’s a bit early to think about the grilling season, this red Rhone-style blend from Vina Robles is a perfect match for grilled chops and steaks. A juicy, mouth-watering blend of petite sirah, syrah, grenache and mourvedre, it shows spicy red fruit and supple tannins, a crowd-pleasing combination. Rating: 89.
Domaine du Tariquet 2013 ‘Classic,’ Cotres de Gascogne ($12) — The beauty of the white wines of southwest France is their freshness and easy drinkability. Domaine du Tariquet’s ‘Classic’ is a blend of ugni-blanc, colombard, sauvignon and gros manseng. Ugni-blanc and colombard, of course, are often used in the production of spirits and not so much for table wines. The Sauvignon and gros manseng give the nose a bit of lift, and on the palate notes of lime citrus and green apple dominate. It is crisp and clean and just what the doctor ordered on a warm summer day. Rating: 88.
Tasting Notes
Merry Edwards 2013 Sauvignon Blanc, Russian River Valley ($32) — This is the genius of Merry Edwards for all the world to see. The Grand Dame of California pinot noir also has a deft hand with sauvignon blanc. I would even venture to say her RRV sauvignon is routinely among the top five sauvignons made in America. The 2013 is remarkably complex, destroying the conventional wisdom that sauvignons are simple and uninteresting over time. This vintage exhibits notes of white peach, tangerine, lemon oil, lime zest, orange blossom and an intriguing spice note. With mouth-watering acidity and nervy minerality, it is a sauvignon that is alive and appealing and extremely genuine. Brilliant! Rating: 95.
Chateau Soleil 2009 Puisseguin Saint-Emilion, Bordeaux, France ($35) — This chateau in the satellite AOC of Puisseguin Saint-Emilion is part of the Stephan von Neipperg stable of chateaux (which includes Chateau Canon-la-Gaffeliere). That means, quite simply, that it is held to the highest standards. The soils of the estate are clay and limestone and merlot is the primary grape planted at about 80 percent, with some cabernet franc and cabernet sauvignon. This outstanding vintage produced a beautiful wine that exhibits hints of cedar, spice and cassis on the nose. Well balanced, the fine tannins remain firm and the wine is still showing young. Another five to seven years should see it begin to plateau. On the palate this vintage presents layers of blackberry, plum and currant fruit, with an overlay of oak vanillin. Beautifully done. Rating: 92.
Follow Robert on Twitter at @wineguru. To find out more about Robert Whitley and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com.
COPYRIGHT 2015 CREATORS.COM

Haynie’s Corner Art District to begin First Fridays Series on March 6th

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Haynie’s Corner Art District First Fridays are a collaborative effort between local businesses, neighborhood representatives, and the Arts Council of Southwestern Indiana. It is a self-guided tour of indoor and outdoor art exhibits and performers designed to highlight local artists and the businesses hosting them on every First Friday of the month.

 

The festivities will kick-off in Haynie’s Corner Art District on March 6th from 6:00pm – 9:00pm with the heart of the events being located near the fountain beside The Alhambra Theatre. Local businesses and a variety of artists will be participating including Sauced, The Dapper Pig, Patchwork Central, Soap Solutions, Penny Lane Coffee House, Stef L’s Amour, The Beauty Room, 22 Jefferson Art Studios & Gallery, Heather Landry, D’Alto Studios, Jenna Citrus, Matt Fitzgerald, Keith Boyd, Emily Gartner and more! For the full list of businesses and artists participating and to see upcoming events in the area, visit hayniescorner.com.

 

Amy Rivers-Word, newcomer to Haynies Corner Art District with The Dapper Pig, but a known figure on West Franklin said, “It is great to see the type of community development and energy that has been so prevalent on Franklin Street exploding over into other districts! The Dapper Pig is simply thrilled to be a part of this very vital and vibrant neighborhood, and we can’t wait to see the outcome of this this first collaborative event, First Fridays!”

 

The First Friday Series will run through October 2015. Art District businesses and local artists are encouraged fill out applications to participate in the regularly scheduled events. It is free to participate. Applications can be found at artswin.org. Interested parties in sponsoring the event may call (812) 422-2111 to learn how to support this programming.

 

ST. MARY’S WELLNESS CENTER TO OFFER COUPLE’S SOCIAL DANCING

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St. Mary’s Wellness Center at Epworth Crossing will present three different opportunities for a great date night.

The next session of Couple’s Social Dancing will offer Waltz,  Night Club Two-Step Level One and East Coast Swing Level One, beginning in March and April. The classes are taught by David and Donna Koring, who have been instructors since 2003.

Each class lasts for five weeks and is $65 per couple. Pre-registration is required by February 26. Dates and more information can be found below:

  • Waltz
    Monday evenings from 7:00 p.m. – 8:00 p.m.
    March 2, 9, 16, 30, and April 6. No class March 23.
  • Night Club Two-Step Level 1
    Tuesday evenings from 7:00 p.m. – 8:00 p.m.
    March 3, 10, 17, 31, and April 7. No class March 24.
  • East Coast Swing Level 1
    Friday evenings from 6:30 p.m. – 7:30 p.m.
    March 6, 13, 20, and April 3, 10. No class March 27.

To register, please call 812-485-5725. For more information please visit StMarysEpworth.com/classes.

Pet of the Week

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Bonnie is a 2-year-old female Californian rabbit! This sweet girl is social and loves to be with people. She prefers to have all four feet on the ground, so she may do best in a household with responsible children over the age of 5 who won’t want to carry her around the house much. She does have albino pink eyes, which only makes her MORE endearing! Remember, February is Adopt A Rescued Rabbit Month. Always adopt, and NEVER buy baby bunnies from pet stores or retail stores! Take Bonnie home spayed for only $30 (a $150 value!) Download an application at www.vhslifesaver.org!

 

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