Total of 130 Banks Have Now Received More than $1.8 Billion in Funding through Small Business Lending Fund

WASHINGTON – Today, the U.S. Department of the Treasury announced that an additional 50 community banks across the country received a total of $767 million as part of the next wave of funding provided through the Small Business Lending Fund (SBLF). The SBLF, which was established as part of the Small Business Jobs Act that President Obama signed into law, encourages community banks to increase their lending to small businesses, helping those companies expand their operations and create new jobs.

Including today’s announcement, 130 community banks have now received more than $1.8 billion in SBLF funding. Additional SBLF funding announcements will be made on a rolling basis in the weeks ahead.

“These funds will provide a powerful incentive for community banks to expand their lending to small businesses, spurring new investment and job creation” said Deputy Secretary of the Treasury Neal S. Wolin. “Breaking down barriers to credit will provide critical support to Main Street entrepreneurs looking to invest in their local communities, grow their businesses, and put more Americans back to work.”

Small businesses play a critical role in the U.S. economy and are central to growth and job creation. Small businesses employ roughly one-half of all Americans and account for about 60 percent of gross job creation. But small business owners faced disproportionate challenges in the aftermath of the recession and credit crisis, including difficulty accessing capital.

The SBLF helps small businesses meet this challenge by providing capital to community banks that hold under $10 billion in assets. The dividend rate a community bank pays on SBLF funding is reduced as that bank increases its lending to small businesses – providing a strong incentive for new lending to small businesses so they can expand and create jobs. For more details on the SBLF program, please visit, link and link.

The SBLF is one part of the Obama Administration’s comprehensive agenda to help small businesses access the capital they need to invest and hire. The State Small Business Credit Initiative (SSBCI), which is also a key part of the Small Business Jobs Act, allocates $1.5 billion to new and existing state programs that will leverage private financing to spur $15 billion in new lending to small businesses and small manufacturers.

The Obama Administration has also supported 17 direct tax breaks that provide tax relief of more than $50 billion for small businesses. These tax breaks were designed to support job creation and retention, entrepreneurship, investment, and growth. The Administration has also worked with Congress to extend and expand existing Small Business Administration loan programs that helped put more than $42 billion in the hands of small businesses and deliver other important benefits to help small businesses expand and hire.

The 50 community banks that received SBLF funding as part of today’s announcement include:
Central Valley Community Bancorp (Fresno, California), $7.0 million
GBC Holdings, Inc. (Los Angeles, California), $5.0 million
First PacTrust Bancorp, Inc. (Chula Vista, California), $32.0 million
Morgan Capital Corporation (Fort Morgan, Colorado), $3.3 million
Salisbury Bancorp, Inc. (Lakeville, Connecticut), $16.0 million
Gulfstream Bancshares, Inc. (Stuart, Florida), $7.5 million
Florida Shores Bancorp, Inc. (Pompano Beach, Florida), $12.8 million
First Federal Bancorp, Inc. (Lake City, Florida), $20.0 million
CBOS Bankshares, Inc. (Merritt Island, Florida), $3.9 million
HomeBancorp, Inc. (Tampa, Florida), $7.4 million
Lowndes Bancshares, Inc. (Valdosta, Georgia), $6.0 million
Bancorp Financial, Inc. (Oak Brook, Illinois), $14.6 million
First Robinson Financial Corporation, (Robinson, Illinois) $4.9 million
First Busey Corporation (Champaign, Illinois), $72.7 million
Southern Illinois Bancorp, Inc. (Carmi, Illinois), $9.0 million
Prime Banc Corp. (Dieterich, Illinois), $10.0 million
Horizon Bancorp (Michigan City, Indiana), $12.5 million
MutualFirst Financial, Inc. (Muncie, Indiana), $28.9 million
MidSouth Bancorp, Inc. (LaFayette, Louisiana), $32.0 million
Central Bancorp, Inc. (Somerville, Massachusetts), $10.0 million
Leader Bancorp, Inc. (Arlington, Massachusetts), $12.9 million
Katahdin Bankshares, Inc. (Houlton, Maine), $11.0 million
McLeod Bancshares, Inc. (Shorewood, Minnesota), $6.0 million
Redwood Financial, Inc. (Redwood, Falls, Minnesota), $6.4 million
Great Southern Bancorp, Inc. (Springfield, Missouri), $57.9 million
Liberty Bancshares, Inc. (Springfield, Missouri), $23.0 million
The Landrum Company (Columbia, Missouri), $20.0 million
Liberty Bancorp, Inc. (Liberty, Missouri), $16.2 million
Alerus Financial Corporation (Grand Forks, North Dakota), $20.0 million
Western State Agency, Inc. (Devils Lake, North Dakota), $12.0 million
New Hampshire Thrift Bancshares, Inc. (Newport, New Hampshire), $20.0 million
Crest Savings Bancorp, Inc. (Wildwood, New Jersey), $2.5 million
The Elmira Savings Bank, FSB (Elmira, New York), $14.1 million
Alma Bank, (Astoria, New York), $19.0 million
Columbus First Bancorp, Inc. (Worthington, Ohio), $6.2 million
Prime Bank Group (Edmond, Oklahoma), $4.5 million
Codorus Valley Bancorp, Inc. (York, Pennsylvania), $25.0 million
Emclaire Financial Corp. (Emlenton, Pennsylvania), $10.0 million
CBT Financial Corp. (Clearfield, Pennsylvania), $10.0 million
Enterprise Financial Services Group, Inc. (Allison Park, Pennsylvania), $5.0 million
Carolina Alliance Bank (Spartanburg, South Carolina), $5.0 million
Magna Bank (Memphis, Tennessee), $18.4 million
Community First Bancshares, Inc. (Union City, Tennessee), $30.9 million
FVNB Corp. (Victoria, Texas), $18.0 million
Veritex Holdings, Inc. (Dallas, Texas), $8.0 million
The ANB Corporation (Terrell, Texas), $37.0 million
FB BanCorp (San Antonio, Texas), $12.0 million
Blue Ridge Bankshares, Inc. (Luray, Virginia), $4.5 million
County Bancorp, Inc. (Manitowoc, Wisconsin), $15.0 million
PFSB Bancorporation, Inc. (Pigeon Falls, Wisconsin), $1.5 million

News Release

“The Blueprint for Success is not another plan destined to sit on a dusty shelf but a realistic road map for future economic development achievement in Southwest Indiana,” stated Ron Christian, chairperson of the Economic Development Coalition of Southwest Indiana. Commissioned by the Coalition and led by Garner Economics, the Blueprint for Success was originally slated to be a master plan for re-utilization of the former Whirlpool manufacturing site in Evansville, Indiana. The direction of the study changed in April 2011 when Whirlpool Corporation sold the property to a Southwest Indiana developer – the Kunkel Group.

“Though the initial direction of the analysis changed, the issues that arose from the plant closure remained the same,” said Greg Wathen, president & CEO of the Coalition. “The objectives of the regional analysis were simple – identify key strengths to emphasize in our economic development efforts along with key weaknesses in the region allowing us to remediate.”

The Blueprint study was funded through a grant from the U.S. Economic Development Administration and culminates a ten-month process from selection of the consultant team to final report. Following the sale of the former Whirlpool property, Garner Economics along with Newmark Knight Frank were instructed to proceed at looking at alternative sites for development with the primary focus for the analysis following the same criteria as proposed in the original grant application to the Economic Development Administration.

Jay Garner, President of Garner Economics, served as the lead consultant for the project. Tom Tveidt, research economist for Garner Economics, provided the analytical analysis and business target recommendations. Robert Hess and Tim Walden of Newmark Knight Frank were involved in analyzing the region’s assets and challenges and providing real estate recommendations to help in gaining a competitive advantage in business development and economic growth opportunities. Leigh Howe of Applied Marketing is providing industry intelligence and qualified leads for the Coalition to pursue based on the industry targets selected.

The analysis included a Competitive Realities Report, which was released earlier this year, along with suggested industry targets the region should pursue based on the best short and mid-term growth opportunity, and recommendations to enhance the region’s global competitiveness.

The approach of the study began with the team conducting an assets and challenges assessment of the region applying many of the same criteria to assess a community that are typically used when a site selector evaluates communities for possible corporate investment.

The consultant team conducted a multi-day windshield tour of Gibson, Posey, Vanderburgh and Warrick Counties along with eight focus groups interviewing 70 key stakeholders in the region giving a critical overview of how local businesses and residents evaluate the business climate of Southwest Indiana. They also evaluated key demographic and economic indicators for the region as compared to state and national trends as well as comparing the region to benchmark communities of Chattanooga, Tennessee and the Quad Cities area of Davenport, Iowa, Moline and Rock Island, Illinois – areas having a high concentration of similar industry specialization similar to the Evansville region as well as comprising a multiple state metropolitan area.

Formed in late 2006, the Economic Development Coalition of Southwest Indiana acts as the umbrella economic development organization for Gibson, Posey, Vanderburgh and Warrick Counties in Southwest Indiana and has attracted nearly $400 million in new investment and more than 2,100 new jobs. The Coalition facilitates and coordinates business retention, expansion and attraction activities; and, supports efforts to enhance the business climate through regional capacity building.

Another important aspect of the Coalition’s multi-faceted job description is helping the communities it serves build new capacity for future development. In four years, the Coalition has secured more than $58 million in grants for such things as expansion of water and sewer systems; building new community centers; and, making improvements to the region’s levee system, which protects thousands of acres.

Source: Economic Development Coalition of Southwest Indiana

EDC_Blueprint_Executive_Summary_20011-08-31

Time 8:30 AM – 10:30 AM
Subject PERSONNELL & FINANCE
Location 301
Recurrence Occurs the last Wednesday of every 1 month effective 8/31/2011 until 8/31/2011 from 8:30 AM to 10:30 AM
Reminder 15 minutes
SANDIE @ 5791
Categories ROOM 301

Time 2:30 PM – 4:00 PM
Subject ITAC
Location 318
Recurrence Occurs the last Wednesday of every 1 month effective 8/31/2011 until 8/31/2011 from 2:30 PM to 4:00 PM
Reminder 15 minutes
TIM VANCLEAVE @ 5848
Categories ROOM 318

The Department of Music at the University of Evansville has announced its 2011-12 performances in the First Tuesday Concert Series.

First Tuesday Concerts, presented the first Tuesday of each month at 7:30 p.m., showcase the outstanding talent of the University’s music faculty as they perform works from seldom-heard masterpieces to beloved standards. All concerts are free and open to the public, and all take place on the University of Evansville campus except for December 6’s Holiday Pops concert.

The 2011-12 series kicks off next Tuesday, September 6 with the annual Fall Faculty Gala in Wheeler Concert Hall. This concert features a variety of works performed by the department’s faculty.

The First Tuesday Concert Series continues with the following performances:

October 4: Classical Jazz, Wheeler Concert Hall. Composers throughout history have been inspired by jazz music and have bridged the classical/jazz gap by creatively blending the two styles. This performance features music by Gershwin, Stravinsky, and other composers who have brought jazz from the streets into the concert hall.

November 1: University Choir, Neu Chapel. The University Choir and Kantorei present an evening of choral works.

December 6: Holiday Pops, Victory Theatre. (600 Main St., Downtown Evansville) This festive annual tradition brings together departmental ensembles and soloists performing holiday favorites.

February 7: Inspired by Opera, Wheeler Concert Hall. This concert draws from the music of the grand theatrical stage and composers such as Puccini, Mozart, Bizet, and Verdi. Faculty members perform overtures, arias, and selections from beloved operas.

April 3: Variations on a Theme, Wheeler Concert Hall. A wide variety of styles and genres make up this concert, which explores themes and variations. Audiences will discover how composers explore multiple facets of well-known melodies, including works by Schubert, Bach, and Cage.

For a complete listing of concerts offered by the Department of Music, please click here.

The first film to be viewed is “I Love You, Man”, which includes the cast of Paul Rudd, Jason Segel, Rashida Jones and writer director John Hamburg.

All screenings are held in Forum I in the Wright Administration Building. Films are free and open to the public on Tuesday nights through December 6 (with the exception of September 13) and Thursdays September 15, November 10, and 17.

In addition, Forum I will host movies as part of the Friday in the Forum film series at 7:30 p.m. on November 4 and 11 and December 2 and 9.

Films are shown in 35mm, in their original formats and languages, and with stadium seating, and Dolby digital surround sound (unless marked).The Introduction to Film class meets at 11 a.m., 1:30 p.m. and 6 p.m. on Tuesdays.

Click here to view the entire schedule on USI.com

UPDATE: Vectren sources have provided the CCO with some additional fees that actually bring the Long Island Power Authority bills to about $187 per month that does exceed the $155 that local supplier Vectren bills for 1,000 kWh.

Previous Article:

After hearing a national news show proclaim over the weekend that Long Island has the “highest” electricity rates in the country we decided to take the anchorperson to the test.

After reviewing the published residential electric rates and service charges that Long Island Power charges its customers the City County Observer is no longer feeling sorry for the Long Islanders. A typical residence that uses 1,000 kWh per month in Long Island pays $94.60 for their power.

In Evansville, IN the cost for the same 1,000 kWh is $155.10 which is a full 64% higher than our countrymen on Long Island. To make matters worse City-Data reports that the median household income in Evansville is $34,567 while on Long Island it is $68,295 or nearly double what it is in Evansville.

The median household in Evansville based on these figures will work 9 hours per month to cover their Vectren bill while the median household on Long Island will only have to work for 2 hours and 45 minutes per month to cover electricity expenses. This translates into a family from Evansville having to work 225% longer to pay for electricity than people on the supposedly most expensive electricity in the country of Long Island.

Long Island Power Rates
http://www.lipower.org/pdfs/account/rates_resi.pdf

Vectren Rates:

http://energyderegulationnews.com/vectrens-residential-customers-pay-states-highest-electric-rates-800-965-0590/