More from Horse Sport:Christilot Boylen Retires From Team SportAfter an exemplary career as one of Canada’s top Dressage riders, seven-time Olympian Christilot Boylen has announced her retirement from team competition.2020 Royal Agricultural Winter Fair CancelledFor only the second time in its history, The Royal Agricultural Winter Fair has been cancelled but plans are being made for some virtual competitions.Royal Agricultural Winter Fair Statement on 2020 EventAs the Province of Ontario starts to reopen, The Royal’s Board and staff will adhere to all recommendations put forward by government and health officials.Government Financial Assistance for Ontario FarmersOntario Equestrian has recently released this update of several financial assistance packages available, including those for farm business. We’ll send you our regular newsletter and include you in our monthly giveaways. PLUS, you’ll receive our exclusive Rider Fitness digital edition with 15 exercises for more effective riding. A critical blow has been dealt to the Bromont 2018 WEG, as Carla Qualtrough, the Minister of Sport and Persons with Disabilities, has declined to support the event.“The federal government can not support the presentation of the 2018 World Equestrian Games through Sport Canada. The Games have an approximate $100 million budget. The financial viability of this project raises concerns because nearly $66.6 million of revenue must come from the private sector. To date, the private sector has confirmed no contribution, nor an endorser in case of deficit,” was the quote from the Press Secretary of Minister Qualtrough, reported in La Voix De L’Est.Aside from financial support, the federal government’s help would have been necessary for security, transportation, import/export, etc.The FEI is struggling to find a solution. “We are looking at how we can work together with Equestrian Canada and the remaining members of the COJEM Board to deliver the Games,” commented an FEI spokesperson. “A good solution will be found, but in the interests of our whole community, we have the responsibility to ask the right questions and protect the future of our flagship events.”Stay tuned as Horse Sport learns more. Tags: COJEM, Bromont WEG, Email* SIGN UP Horse Sport Enews Subscribe to the Horse Sport newsletter and get an exclusive bonus digital edition!
From left: Tom Barrack, former Qatari Prime Minister Hamad bin Jassim bin Jaber Al Thani, and Saudi Crown Prince Mohammad bin Salman.Play “six degrees of separation” with Middle Eastern investors active in the U.S. real estate market, and chances are Tom Barrack’s name would pop up.The founder of Colony Capital is under scrutiny for his ties to the wealthy Middle Eastern nations of Saudi Arabia and the United Arab Emirates. Federal prosecutors are looking at whether Barrack, whose firm took in $1.5 billion from those two countries since his close friend Donald Trump won the Republican presidential nomination, sought to sway the Trump campaign and later the administration when it came to foreign-policy decisions.Barrack, an Arabic speaker of Lebanese descent, has not been accused of any wrongdoing. But over his career, he’s developed deep ties to the Middle East and has been one of the most successful industry figures at bringing in money from wealthy investors there.ADVERTISEMENTHis dealings in the region date back to the 1970s, when he was a lawyer at the firm of Herbert Kalmbach, who had served as President Nixon’s personal attorney and was a prominent character in the Watergate scandal.In 1972, a client at Kalmbach’s firm asked him to play squash with some local Saudi contacts, and he ended up partnering with the son of the king of Saudi Arabia, according to an account in The Hill.“I had no idea who he was, but my boss said, ‘However much he wants to play, you play,” Barrack said in a 2014 speech at the Lebanese consulate in L.A. “We ended up playing three hours a day.”Teaming upMiddle Eastern investors have poured billions of dollars into Colony Capital over the years.After teaming with Saudi Prince Prince Alwaleed bin Talal on the Fairmont chain in 2006, Barrack partnered with the Qatar Investment Authority to buy Miramax Films for $660 million four years later. They sold the company to Doha-based beIN Media Group for an undisclosed sum.And in 2011, amid the upheaval of the Arab Spring, Barrack swam against the current by saying he would be “looking hard” at expanding his then-$200 million worth of investments in the region.“The time to buy is when everybody else is running for the hills,” he said at the time. “The Middle East is printing money and it’s used to operating in chaos.”A year later, Colony sold several luxury properties in Sardinia to Qatar’s sovereign wealth fund, a move that prompted Italian prosecutors in 2017 to accuse him of avoiding taxes in the deal.The New York Times reported that Colony has raised more than $7 billion in investments since Trump’s nomination, nearly a quarter of it coming from Saudi Arabia or the United Arab Emirates.Barrack’s support for Trump has complicated his relationships in the region, particularly after the president’s 2015 comments on the presidential campaign trail that called for a temporary but “total and complete shutdown of Muslims entering the United States.” The Times uncovered emails in which Barrack tried to assuage United Arab Emirates Ambassador Yousef al-Otaiba’s concerns over the ban. The emails were regarding those 2015 comments, which Trump, as president in 2017, switched to a travel ban on people from majority Muslim countries. The UAE, Saudi Arabia and Qatar were never on the list of banned nations.“We can turn him to prudence,” Barrack wrote in an email at the time, referring to Trump. “He needs a few really smart Arab minds to whom he can confer — u r at the top of that list!”Pushing backBarrack appears to have chosen his business over a closer role with Trump’s White House. The White House has offered Barrack at least one job before — in mid-2017 he was considered for U.S. Ambassador to Mexico, but that never happened.Barrack says he has also pushed back on Trump over his more divisive comments about the Middle East. In June 2017, when the president called Qatar a “funder of terrorism at a very high level,” Barrack reportedly told him, “you don’t need to get involved.”A month earlier, Qatar’s neighbors Saudi Arabia, the UAE, Bahrain, and Egypt severed diplomatic ties and blockaded the tiny nation. It was done over claims that Qatar financed terrorism and was becoming too close with regional rival Iran, which supports Houthi fighters in Yemen fighting a civil war against the Saudi-backed Yemeni government. The blockade remains in effect.The split between Qatar and its neighbors put Barrack in a difficult spot, since he had deep connections with both sides. Two years ago, he filed plans for a 77,000-square-foot mega-mansion in Bel Air. But this palace was not for him. Barrack filed the design, sources said at the time, on behalf of former Qatari Prime Minister Hamad bin Jassim bin Jaber Al Thani.At a February business summit in Abu Dhabi, Barrack jumped to the defense of Saudi Arabia’s Crown Prince Mohammed bin Salman after the kingdom admitted dissident journalist — and U.S. resident —Jamal Khashoggi was killed inside the embassy in Istanbul.“… The atrocities in America are equal or worse to the atrocities in Saudi Arabia,” Barrack said, at the event hosted by CNN. “The atrocities in any autocratic country are dictated by the rule of law. So for us to dictate what we think is the moral code there when we have a young man and a regime that’s trying to push themselves into 2030 I think is a mistake.”Barrack later apologized for the remarks, calling the October 2018 killing “atrocious” and “inexcusable.” The CIA has found credible evidence to conclude bin Salman ordered Khashoggi’s execution.Barrack now appears to be reducing his role at Colony. The firm announced in July that he would step down as CEO as part of a merger with Digital Bridge Holdings that will see Digital Bridge CEO Marc Ganzi take the reins. Barrack will return to his role as executive chairman when the merger is completed sometime in the next two years.Saudi Arabia’s sovereign wealth fund invested in a $4 billion Colony-Digital Bridge fund, a deal that preceded the recent merger. This content is for subscribers only.Subscribe Now
A team coach can be an asset that spends a lot of its time idle. That’s not the case for one in East Yorkshire, which is kept busy year-round thanks to a diverse workload and a versatile internal layoutVolvo B11R Plaxton Elite-i team coach one of three Acklams interdeckersTeam coaches: To some operators, they are a key part of their business. To others, they are something to shy away from. But one company in East Yorkshire has such a vehicle that fits in perfectly with the rest of its fleet, in terms of both parentage and workload.Acklams Coaches of Beverley is a loyal Plaxton and Volvo customer, and when it needed a second team coach to add to its existing Neoplan Starliner, it specified a B11R with Elite-i body.It is the third Elite-i to join Acklams’ fleet. The earlier pair are fully seated and they put their high capacity to good use on school trips, concert excursions, cruise work, and carrying supporters of Hull’s professional sports teams.The new coach, however, is to a completely bespoke layout. Although to team specification, it is also PSVAR compliant thanks to the low-floor area. At 13.8m it has a total of 42 seats – against 73 in the two 15m Elite-is – and it was fitted out by AD Coach Systems over a multi-month stay at AD’s Biddulph premises.While it’s largely kept busy in its primary role, downtime in match and training schedules means that Acklams can use the team coach on work that would traditionally be outside the remit of such a vehicle.Immediately after routeone saw it in February, it headed out on a contract for a nearby private school, and it already has a nine-day trip to France planned for the summer. Cruise transfer duties to Southampton are also bread and butter for it thanks to cavernous luggage space.Tested combinationAll of the full-sized coaches bought new by Acklams since 2005 have been Volvo Plaxtons; the Starliner was purchased second-hand. “We did look at other manufacturers before we went for the third B11R Elite-i, but we have diagnostic equipment for Volvos and our engineers are used to them,” says Director Paul Acklam.Rear lounge comes with conference table and two X-Box game consolesThe Swedish chassis have also proved themselves to be man enough for hard work; as an example, Acklams recently acquired a used Plaxton Volvo that was utilised by its former owner on National Express work. Despite having covered a high mileage, it is in excellent condition.Familiarity with Plaxton also played a part in the purchasing decision. Acklams is around 30 miles from the Scarborough factory, which assures a rapid response when needed.Another positive of the Elite-i is its road presence. Paul and his son and fellow Director Alan Acklam believe that that alone generates work.While 15m coaches may be tricky for inexperienced drivers to handle in some situations, that’s not such a problem with the 13.8m Elite-i.30 of Acklams’ staff regularly drive tri-axles, and of particular appeal on the Elite-i is the small lower-deck area. “We’ve no issue with sending any of them on a school run if necessary, but drivers must know how to handle them,” says Alan.Goodies insideFootballers from Hull City FC, and rugby players from Hull FC, Hull Kingston Rovers and Hull Ionians RUFC, all use the Elite-i team coach to travel to away games, and it is also employed to move various academy and youth teams.Unlike some other coaches in its sector, it has been built specifically for the task at hand and it cannot practically be up-seated later in life. It is replete with luxuries, toys and essential fittings for its primary application, and within the luggage space is a generator to power them when parked.“At some stadiums it’s not always possible to get close to a shore supply, so we need the auxiliary power unit,” says Alan. A Webasto coolant heater is also fitted.In the main saloon, the coach has six full-size tables and a further conference-style table in a rear lounge, around which eight seats are positioned. Wireless charging for certain devices is provided and at the front, three smaller tables are present.Most seats in the main saloon around tables; a large kitchen is also fittedNumerous monitors are fitted throughout the coach, and two of those in the rear lounge are connected to X-Box systems. Also there is ‘sky’-style lighting, made up of a twinkling star display.Much of the offside is occupied by a large kitchen and serving area, which is split around the continental door. A sink and coffee machine are part of it, along with various ovens and fridges below, and numerous cupboards.The overhead racks are removed above the kitchen, but elsewhere on the coach, they have aircraft-style doors. All passengers are provided with 240v and USB charging points.Each of the black leather seats has a choice of antimacassars, each with an individual club’s logo embroidered into them.As a result, they must be changed dependent on the team being carried, or removed entirely when on other work.The responseThe Elite-i is not Acklams’ first team coach, but the response from players and officials that have used it has been universally positive.Power is from a Volvo D11K engine rated at 460bhp, and it drives through an I-Shift automated manual gearbox. While the unladen weight at 18,457kg is high, the D11K gives excellent performance and the coach has no problems keeping up with traffic. Fuel consumption is not always a principal concern at this end of the market, but it is thought that the team coach returns around 10mpg.All three of the Elite-is have proved to be useful and versatile members of the Acklams fleet, and neither Alan nor Paul rule out a fourth in the future should work dictate. They have not been entirely without issue, but aftersales support from both Plaxton and Volvo has mitigated any problems, and they are otherwise proving to be reliable.Wireless charging for certain devices is provided at all of the tables“Sometimes we can have all three interdeckers on the same job, with the two 73-seaters carrying supporters and the team coach doing its thing,” says Alan.“As an operator we sometimes overlook it as we see them every day, but the Elite-i is a striking mobile advertising hoarding. If you see a convoy of coaches and one of them is an Elite-i, it stands out.”While the exact price has not been disclosed, an Elite-i to team specification is a major investment.Acklams’ is looked after entirely in-house, and is in the same Elite Travel livery as the other two, creating a unified look.But one of its true appeals is its versatility. Acklams has developed its sports team work over a number of years, and that means that there is plenty to keep its three Elite-is busy during the season.Outside of it, the team coach can be usefully employed on other duties, keeping an expensive asset busy – just as it should be.
AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMoreAside from being absolutely adorable—and the ideal posterboy for #TongueOutTuesday—Mervin is a champion for second chance pups everywhere.Initially found as a stray and brought to the ASPCA, Mervin, a very special-needs dog, has made a major splash all over social media.Mervin Finds LoveAfter being properly nourished, undergoing knee surgery, and having all of his teeth removed—it’s soft food for life—he was adopted by Joey, a kind man who works at the ASPCA in New York City.Now, the five-year-old chihuahua is happy as a clam and hamming it up for the camera, showing us all just how much of a difference a little TLC can make.Together, Joey and Mervin are on a mission to show support against animal cruelty and to promote the adoption of dogs.With 30K followers on Instagram alone, we suggest you take a look, if you want to have your entire day made and then some.For more on Mervin, visit him on Facebook.Share This Story With Your Furriest Friends:AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMore
RELATED: Oil Company Surrenders 15 Land Leases on Sacred Native American LandUltimately, she served as the lead plaintiff in a lawsuit against the government and in April 2019, Ecuador’s courts ruled in the Waorani’s favor—a ruling which was upheld in the court of appeals.She deftly bridged the worlds of indigenous people and Western society, bringing together elders and youth, and uniting distinct indigenous tribes that were once divided—and continues to fight for the rights of indigenous communities today.The Goldman Prize, founded in 1989, goes to six environmental heroes each year, awarded annually to activists from each of the world’s six inhabited continental regions.John Goldman, President of the Goldman Environmental Foundation, praised the honorees for “taking a stand, risking their lives and livelihoods, and inspiring us with real, lasting environmental progress.”RELATED: Amazon Tribes Are Excited to Use Drones to Detect Illegal Deforestation in Brazilian Rainforest“These six environmental champions reflect the powerful impact that one person can have on many.”SHARE the Victory With Earth Lovers on Social Media…AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMore The Waorani people, numbering around 5,000 today, are traditional hunter-gatherers in this pristine rainforest that overlaps with Yasuni National Park, which, according to the Smithsonian, “may have more species of life than anywhere else in the world.”Since the 1960s, oil exploration, logging, and road building have already had a serious impact on Ecuador’s rainforests and her indigenous people and their culture. Oil companies have dumped waste into local rivers and contaminated land, leading to public health spikes in disease and miscarriage.ALSO: Island on California Coast is Returned to Indigenous Tribe in Unprecedented Restoration of Land RightsIn 2018, Ecuador’s Minister of Hydrocarbons announced an auction of 16 new oil contracts located on the titled lands of indigenous nations—in direct violation of their rights.The 33-year-old Nenquimo co-founded the Ceibo Alliance in order to fight back against the planned oil concessions. The mother of a 4-year-old daughter, she organized Waorani communities, held regionwide assemblies, and launched a digital campaign targeting potential investors with the slogan “Our Rainforest is Not for Sale.”At the same time, Nenquimo proactively helped communities maintain their independence from oil company bribes by installing rainwater harvesting systems and solar panels, supported a woman-led organic cacao and chocolate production business, and secured training for Waorani youth to be filmmakers and document the activists, publishing powerful images for the campaign, including aerial drone footage of the Waorani rainforests. AddThis Sharing ButtonsShare to FacebookFacebookFacebookShare to TwitterTwitterTwitterShare to EmailEmailEmailShare to RedditRedditRedditShare to MoreAddThisMoreIndigenous Amazon leader Nemonte Nenquimo just won the world’s foremost award for grassroots environmental activism for her organizing work to save Ecuador’s rainforests.Nemonte Nenquimo by Jeronimo Zuñiga, Amazon Frontlines – courtesy Goldman Environmental PrizeHer leadership earned her a prestigious Goldman Environmental Prize—known as the ‘Green Nobel’.Nenquimo led an indigenous campaign and legal action that resulted in a court ruling protecting 500,000 acres of Waorani territory in the Amazon rainforest from oil companies. Nenquimo’s leadership and the lawsuit set a legal precedent for indigenous rights in Ecuador, and other tribes are following in her footsteps to protect additional tracts of rainforest from oil extraction.
————- ————-NET INCOME $ 2,143 $ 2,052 ============= =============NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 2,085 $ 1,911 New Hampshire Thrift Bancshares, Inc. Consolidated Statements of Income (unaudited) For the Three Months Ended March 31, 2014 2013 ————- ————- (Dollars in thousands except for per share data) Net Income $ 2,143 $ 2,052 Per Share Data: Basic Earnings 0.25 0.27 Diluted Earnings (1) 0.25 0.27 Dividends Paid 0.13 0.13 Dividend Payout Ratio 52.00% 48.15% For the Three Months Ended March 31, (Dollars in thousands except for per share data) 2014 2013 ————- ————-INTEREST AND DIVIDEND INCOME Interest and fees on loans $ 11,350 $ 9,181 Interest and dividends on debt investments Taxable 325 524 Dividends 35 13 Other 170 139 ————- ————- Total interest and dividend income 11,880 9,857 ————- ————- Leverage (Tier I) Capital 8.42% 8.29% Number of Offices: Banking Offices 38 38 Insurance Offices 3 3 Trust Offices 6 6 (1) Diluted earnings per share are calculated using the weighted-average number of shares outstanding for the period, including common stock equivalents, as appropriate. (2) Includes available-for-sale securities shown at fair value and Federal Home Loan Bank stock at cost. Net interest and dividend income after provision for loan losses 10,253 7,734 ————- ————- NONINTEREST INCOME Customer service fees 1,438 1,186 Net gain on sales and calls of securities 8 167 Net gain on sales of loans 52 933 Net gain on sales of premises and equipment 2 – Net loss on sales of other real estate owned (2) – Rental income 175 183 Realized gain in Charter Holding Corp. – 98 Bank owned life insurance income 149 128 Insurance commission income 484 485 Trust and investment management fees 2,076 – ————- ————- Total noninterest income 4,382 3,180 ————- ————- LIABILITIES AND STOCKHOLDERS’ EQUITY LIABILITIES Deposits: Noninterest-bearing $ 94,394 $ 101,446 Interest-bearing 973,824 986,646 ————- ————- Total deposits 1,068,218 1,088,092 Federal Home Loan Bank advances 155,986 121,734 Securities sold under agreements to repurchase 22,667 27,885 Subordinated debentures 20,620 20,620 Accrued expenses and other liabilities 17,201 16,282 ————- ————- Total liabilities 1,284,692 1,274,613 ————- ————- STOCKHOLDERS’ EQUITY Preferred stock, $.01 par value per share: 2,500,000 shares authorized: Series B, fixed rate noncumulative perpetual, fixed rate cumulative perpetual, 23,000 shares issued and outstanding at March 31, 2014, and December 31, 2013 – – Common stock, $.01 par value per share: 10,000,000 shares authorized, 8,653,771 shares issued and 8,219,442 shares outstanding as of March 31, 2014 and 8,651,076 shares issued and 8,216,747 shares outstanding as of December 31, 2013 87 87 Paid-in capital 100,998 100,961 Retained earnings 59,363 58,347 Accumulated other comprehensive loss (2,443) (2,897) Unearned stock awards (478) (490) Treasury stock, at cost, 434,329 shares as of March 31, 2014 and December 31, 2013 (6,751) (6,751) ————- ————- Total stockholders’ equity 150,776 149,257 ————- ————- Total liabilities and stockholders’ equity $ 1,435,468 $ 1,423,870 ============= ============= New Hampshire Thrift Bancshares, Inc. Selected Financial Highlights INTEREST EXPENSE Interest on deposits 1,102 1,025 Interest on advances and other borrowed money 525 684 ————- ————- Total interest expense 1,627 1,709 ————- ————- As of (Dollars in thousands except for per share March 31, December 31, data) 2014 2013 ————- ————- Total Assets $ 1,435,469 $ 1,422,207 Total Securities (2) 123,935 134,998 Loans, Net 1,155,053 1,134,110 Total Deposits 1,068,218 1,088,092 Federal Home Loan Bank Advances 155,986 121,734 Stockholders’ Equity 150,778 149,257 Book Value per Common Share $ 15.55 $ 15.37 Common Shares Outstanding 8,219,442 8,216,747 Earnings Per Common Share, basic $ 0.25 $ 0.27Earnings Per Common Share, assuming dilution (1) $ 0.25 $ 0.27Dividends Declared per common share $ 0.13 $ 0.13 New Hampshire Thrift Bancshares, Inc. Consolidated Balance Sheets INCOME BEFORE PROVISION FOR INCOME TAXES 3,042 2,883 For the Three Months Ended March 31, (Dollars in thousands except for per share data) 2014 2013 ————- ————-NONINTEREST EXPENSES Salaries and employee benefits 6,002 4,295Occupancy and equipment expenses 1,578 1,076Advertising and promotion 155 99Depositors’ insurance 271 177Professional services 272 336Data processing and outside services 703 319Telephone 295 163ATM processing fees 221 151Supplies 164 129Amortization of intangible assets 435 192Other expenses 1,497 1,094 ————- ————-Total noninterest expenses 11,593 8,031 ————- ————- March 31, December 31, (Dollars in thousands) 2014 2013 ————- ————- ASSETS (unaudited) Cash and due from banks $ 20,697 $ 12,005 Overnight deposits 15,179 21,573 ————- ————- Total cash and cash equivalents 35,876 33,578 Interest-bearing time deposits with other banks 1,245 1,743 Securities available-for-sale 114,117 125,238 Federal Home Loan Bank stock 9,818 9,760 Loans held-for-sale 406 680 Loans receivable, net of the allowance for loan losses of $9.8 million as of March 31, 2014, and $9.8 million as of December 31, 2013 1,155,053 1,134,110 Accrued interest receivable 3,292 2,628 Bank premises and equipment, net 24,576 23,842 Investments in real estate 3,644 3,681 Other real estate owned 1,208 1,343 Goodwill 44,702 44,632 Intangible assets 10,585 11,020 Bank-owned life insurance 19,702 19,544 Other assets 11,244 12,071 ————- ————- Total assets $ 1,435,468 $ 1,423,870 ============= ============= NEWPORT, NH–(Marketwired – April 14, 2014) – New Hampshire Thrift Bancshares, Inc (1) Diluted earnings per share are calculated using the weighted-average number of shares outstanding for the period, including common stock equivalents, as appropriate. PROVISION FOR INCOME TAXES 899 831 New Hampshire Thrift Bancshares, Inc (NASDAQ: NHTB(link is external)), the holding company for Lake Sunapee Bank, fsb, has reported consolidated net income for the three months ended March 31, 2014, of $2.1 million, or $0.25 per common share, assuming dilution, compared to $2.1 million, or $0.27 per common share, assuming dilution, for same period in 2013, an increase of $92 thousand, or 4.49%. The weighted average numbers of common shares, assuming dilution, were 8,231,992 and 7,060,234 for the three periods ended March 31, 2014, and 2013, respectively.”We are pleased by the positive impact of our 2013 acquisitions on earnings during the first quarter of 2014,” President and Chief Executive Officer, Steve Theroux, stated. “Amidst a challenging residential market with refinancing demand waning, we experienced an increase in commercial lending which resulted in higher loan production volume during the first quarter compared to the same period last year. We continually strive to enhance our franchise value by taking advantage of our product platforms which offer a full array of financial products and services to benefit customers at any stage of their financial lives.”2013 Financial Highlights Total assets increased $11.6 million, or 0.82%, to $1.4 billion at March 31, 2014, from $1.4 billion at December 31, 2013.Net loans increased $20.9 million, or 1.85%, to $1.2 billion at March 31, 2014, from $1.1 billion at December 31, 2013.In the three months ended March 31, 2014, the Company originated $79.9 million in loans, compared to $77.7 million during to the same period in 2013.The Company’s loan servicing portfolio was $413.2 million at March 31, 2014, compared to $417.3 million at December 31, 2013.Total deposits decreased $19.9 million, or 1.83%, to $1.1 billion at March 31, 2014, from $1.1 billion at December 31, 2013.Net interest and dividend income for the three months ended March 31, 2014, was $10.3 million compared to $8.2 million for the same period in 2013.Net income available to common stockholders was $2.1 million for the three months ended March 31, 2014, compared to $2.0 million for the same period in 2013As a percentage of total loans, non-performing loans decreased to 1.73% at March 31, 2014, from 1.86% at December 31, 2013.Earnings SummaryNet income of $2.1 million for the three months ended March 31, 2014, includes an increase of $2.1 million, or 25.85%, in net interest and dividend income. The provision for loan losses decreased $414 thousand with no provisions required based on adequacy calculations for the three months ended March 31, 2014, compared to $414 thousand for the same period in 2013. Noninterest income increased $1.2 million, or 37.80%, to $4.4 million for the three months ended March 31, 2014, compared to $3.2 million for the same period in 2013. This increase includes the addition of $2.1 million from trust and investment management fees earned by Charter Trust Company during the three months ended March 31, 2014 and an increase of $252 thousand, or 21.25%, in customer service fees, partially offset by decreases of $159 thousand in net gains on sales and calls of securities, $881 thousand on net gains on sales of loans, and $98 thousand from our former equity position in Charter Holding Corp.Noninterest expense increased $3.6 million, or 44.35%, to $11.6 million for the three months ended March 31, 2014, compared to $8.0 million for the same period in 2013. Within noninterest expense, salaries and employee benefits increased $1.7 million, or 39.73%, to $6.0 million for the three months ended March 31, 2014, compared to $4.3 million for the same period in 2013. This increase includes expenses related to additional staff and operations for Charter Trust Company, acquired in September 2013, and The Randolph National Bank and its eight branches, acquired in October 2013, which represent over 85% of the increase in salaries and employees benefits. Occupancy expense increased $502 thousand, or 46.65%, to $1.6 million for the three month period ended March 31, 2014, compared to the same period in 2013. The occupancy expenses from Charter Holding Corp. and former The Randolph National Bank branches represent $205 thousand and $281 thousand, respectively, representing nea rly 97% of the increase in occupancy expenses. Depositors’ insurance increased $94 thousand, or 53.11%, due to the growth in deposits comparing March 31, 2014 to March 31, 2013. The increase of $384 thousand in outside services for the three months ended March 31, 2014, compared to the same period in 2013 includes $246 thousand related to Charter Trust Company operations and an increase of $65 thousand related to our core processing provider. Amortization of intangible assets increased $243 thousand, or 126.56%, to $435 thousand for the three months ended March 31, 2014, compared to the same period in 2013 due to the additional core deposit intangible from the acquisition of The Randolph National Bank and the customer list intangible from the acquisition of Charter Holding Corp. Other expenses increased $403 thousand to $1.5 million for the three months ended March 31, 2014, including $221 thousand from Charter Trust Company operations and an increase of $80 thousand in tax- qualified contributions.Balance Sheet Summary Total assets were $1.4 billion at March 31, 2014, compared to $1.4 billion at December 31, 2013, an increase of $11.6 million, or 0.82%. Securities available-for-sale decreased $11.1 million to $114.1 million at March 31, 2014, from $125.2 million at December 31, 2013. Net loans held in portfolio increased $20.9 million, or 1.85%, to $1.2 billion million at March 31, 2014, from $1.1 billion at December 31, 2013. The allowance for loan losses was $9.8 million at March 31, 2014, compared to $9.8 million at December 31, 2013. The change of $20 thousand in the allowance for loan losses is the net effect of charge-offs of $223 thousand and recoveries of $243 thousand in addition to a net decrease of $3 thousand to the reserve for the overdraft protection program. Additionally, the Bank had a credit mark of $6.5 million at March 31, 2014 related to acquired loan balances of $184.1 million. Total loan production for the three months ended March 31, 2014 was 79.9 million in loans, co mpared to $77.7 million for the same period in 2013.Goodwill increased $70 thousand, or 0.16%, to $44.7 million at March 31, 2014, from $44.6 million at December 31, 2013. Intangible assets decreased $435 thousand, or 3.95%, to $10.6 million at March 31, 2014, compared to $11.0 million at December 31, 2013. This reflects amortizations of intangible assets of $435 thousand for the three months ended March 31, 2014.Total deposits decreased $19.9 million, or 1.83%, to $1.1 billion at March 31, 2014, from $1.1 billion at December 31, 2013. Advances from the Federal Home Loan Bank increased $34.3 million, or 28.14%, to $156.0 million at March 31, 2014, from $121.7 million at December 31, 2013. Securities sold under agreements to repurchase decreased $5.2 million, or 18.71%, to $22.7 million at March 31, 2014 from $27.9 million at December 31, 2013.Stockholders’ equity of $150.8 million resulted in a book value of $15.55 per common share at March 31, 2014, based on 8,219,442 shares of common stock outstanding. The Bank remains well capitalized with a Leverage Capital ratio of 8.42% at March 31, 2014.Quarterly DividendOn April 10, 2014, the Company declared a regular quarterly cash dividend of $0.13 per share payable April 30, 2014 to stockholders of record as of April 23, 2014.About New Hampshire Thrift Bancshares, Inc.New Hampshire Thrift Bancshares, Inc. is the holding company of Lake Sunapee Bank, fsb, a federally chartered savings bank that provides a wide range of life-cycle banking and financial services. Lake Sunapee Bank has four wholly owned subsidiaries: Lake Sunapee Financial Services Corp., Lake Sunapee Group, Inc., which owns and maintains all buildings and investment properties, McCrillis & Eldredge Insurance, Inc., a full-line independent insurance agency, and Charter Holding Corp., which wholly owns Charter Trust Company, a trust services and wealth management company. New Hampshire Thrift Bancshares, Inc., through its direct and indirect subsidiaries, operates 29 offices in New Hampshire in Grafton, Hillsborough, Merrimack and Sullivan counties and 18 offices in Vermont in Orange, Rutland and Windsor counties.Forward-Looking StatementsThe Company wishes to caution readers not to place undue reliance on any such forward-looking statements contained in this press release, which speak only as of the date made. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2013, and in subsequent filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent our views as of the date of this release. The Company and Lake Sunapee Bank do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. PROVISION FOR LOAN LOSSES – 414 ————- ————- Net interest and dividend income 10,253 8,148
Related The ITU Women’s Committee has opened the nomination process for this year’s Women’s Committee Award of Excellence and asks all national federations to submit their proposals over the coming weeks.The annual award will once again celebrate contributions made by members of the triathlon family towards women at all levels of the sport, whether by opening up pathways to newcomers and leaders alike, coaching or educating, raising awareness of gender issues or by being an exemplary role model for female athletes.“I want to thank our national federations for their continued commitment to promoting women in our sport and creating environments of equality in which they can thrive,” said Women’s Commission chair Tomoko Wada.“Each year we look forward to receiving the nominations and learning more about incredible individuals who work tirelessly behind-the-scenes to keep the sport of triathlon moving forward. Our commission is tasked with ensuring that female athletes, volunteers and staff are represented fairly and their voices heard, but every year we are inspired all over again by the stories behind the nominees for this important award.”The deadline for nominations is Wednesday 29 May 2019, with the announcement and presentation taking place at the ITU Congress in Lausanne in August.Last year’s recipient was Theresa Roden from the USA, who established the i-tri: Transformation Through Triathlon programme back in 2010. Inspired by her own transformative experience in a first triathlon in her late 30s, Roden wanted to share the confidence and strength that she had gained from that moment with other girls in her region – particularly those with challenging social or emotional backgrounds. Last year the program was running in six Long Island schools with over 130 participants.www.triathlon.org
The world has been turned upside down by coronavirus (Covid-19), and the endurance sport community has been reeling with countless event cancellations and a knock-on effect across the board. The disruption to our lives, lifestyles and livelihoods will be profound.RunIn early March, the 2020 Tokyo Marathon did go ahead, but only for marathon elites and wheelchair elite athletes. All other events forming part of the Abbott World Marathon Majors have since been rescheduled. New York Road Runners (NYRR) has now cancelled all in-person events and training; and the New York Marathon has been rescheduled to November 1st. Meanwhile, other WMMajors have shifted dates:Boston Marathon, rescheduled to September 14thLondon Marathon, rescheduled to October 4thBerlin Marathon, rescheduled to September 27thChicago Marathon, rescheduled to October 11thThis represents a major disruption to race directors, athletes, sponsors and all other stakeholders. A concern also remains around whether or not rescheduled events at the back-end of 2020 will actually be able to go ahead, and how long travel and mass participation restrictions will remain in place.TriathlonIn the world of triathlon, the situation is similar. All events, large and small, have been impacted. The much-heralded Collins Cup, originally scheduled for May 30, has been cancelled and will be rescheduled for 2021.Elsewhere, IRONMAN has confirmed a number of event cancellations or postponements:The 2020 SUPERSEAL triathlon, originally scheduled for March 15 was cancelled.IRONMAN 70.3 Oceanside triathlon, originally scheduled for April 4 has a planned future date in October 2020.IRONMAN 70.3 Florida, originally scheduled for April 19 will not take place as planned.The 2020 IRONMAN North American Championship St George triathlon, originally scheduled for May 2, has been postponed to September 19, 2020.IRONMAN 70.3 Santa Rosa, originally scheduled for May 9 has been postponed.IRONMAN 70.3 Victoria, originally scheduled for May 31 has been postponed.CycleFor cycling, the Paris-Nice early season pro rider event went ahead as planned, albeit on a scaled back basis. Since then, all major European races have been cancelled or postponed, including:Giro d’ItaliaParis-RoubaixStrade BiancheMilan-San RemoFleche WallonneLiege-Bastogne-LiegeSportive / gran fondo events have followed suit across the globe. To date, these have mainly been earlier season mass participation races. For example, the 11th edition of the Mallorca 312, originally scheduled for April 25 has been postponed to October 10, 2020.In a matter of days, any list showing cancelled events has struggled to keep up to date. The situation has shifted dramatically to one where an event actually taking place has become the anomaly.Key questions now surround major events such as the Tour de France and the Tokyo 2020 Olympic Games. Based on the current trajectory of the virus and ensuing travel restrictions it seems inevitable that these major events will have to postpone or cancel in 2020.Coupled with this, coaching camps are under the same restrictions as events. And, with events being a core destination for a coached athlete’s journey, and with athletes about to face economic headwinds, the coaching industry is equally feeling significant pressures.In the world of cycling, going beyond events, Europe has started to see a significant clampdown on recreational cycling activities. Italy, Spain and now France have introduced restrictions that make recreational cycling near-impossible.In these countries, cycling is generally only permitted if it is close to home and with necessary permissions in place. For example, in France an ‘attestation de déplacement dérogatoire’ (travel certificate) is required to avoid being fined whilst out cycling.These restrictions apply equally to running, as the clampdown on outdoor activities in certain countries, such as Italy, Spain and France, becomes particularly onerous.Taking on the challengesThe entire endurance sport industry is braced for challenging times ahead. Retail is already massively impacted as footfall dwindles. Even as factories in China and elsewhere in Asia come back on-stream, those production lines are now impacted by reduced market demand across the Americas, EMEA and Asia Pacific regions.The endurance sport ecosystem has never before faced such unprecedented challenges. Yet, this is an industry and a community that thrives on challenge. So, it is hoped that initiatives across the globe can start to make us feel confident of a recovery in the medium term.We’re therefore going to try and keep abreast of the solutions, innovations and suggestions for a way through this mess.We’d really appreciate your input on this, and we will post items with your suggestions (after getting your permission of course). So, please get in touch via e-mail (see our contact page), or the comments area below, and give us your thoughts. This might be around the following areas:Virtual training and racing seem an obvious starting point. How can events, coaches and other stakeholders leverage these and ensure buy-in from athletes?Are there other approaches that can be taken beyond virtual that can help with athlete engagement?How should events, training camps and other group activities handle refunds in case longer term postponements are required? Can athletes be encouraged to support events even if racing cannot take place?Is an autumn/fall date for a rescheduled event realistic; and how can we plan amidst such uncertainty?How (if and when) do we lobby governments to permit outdoor activities while a clampdown ensues?Can we get clear guidance on group activities? There is safety in numbers when out training, but how can small numbers of athletes get together on ride/run/swim, etc., activities?What can gyms and studios do amidst such difficult conditions?Can the endurance sport industry build a better dialogue with insurance firms. Some may be holding out on business interruption payments, for example. Are there any options here?The above is just some food for thought as a starter. We all need to think this through and come up with solutions that can help keep businesses sustainable in the coming months (and years). We will reach out and begin discussion with industry stakeholders to get the ball rolling and we really welcome your input.We hope that you & yours are keeping well, and we look forward to hearing from you.Together, and as individuals, we can make the world a healthier and better place. Related
By Roxie HammillOverland Park police may get more body cameras and a replacement for its bomb truck in the next five years. But a plan to build a firing range and ordnance disposal site in Shawnee has been shelved for the time being because stray bullets could reach nearby neighborhoods.The range would have been built on land owned by Overland Park near the Deffenbaugh landfill. It would have included an outdoor firing range and a place to dispose of explosive ordnance as well as seized marijuana and other substances, said police department spokesman John Lacy. Last year, the city budgeted $800,000 for the project.The Overland Park and Shawnee police departments partnered a couple of years ago to do a study of the site. Officials were initially excited about what looked like a promisingly remote area, said Shawnee Police Chief Rob Moser.That excitement faded when the study results showed the range for ricochets and wide shots, with some shots possibly making it into neighborhoods, Moser said.“We couldn’t and wouldn’t put the community in danger,” he said.Police departments have been looking for a way to have their own firing range for years. Shawnee police explored the topic with the city council as long ago as 2013 and have looked at a number of locations. “So far everything we’ve worked through has hit a snag,” Moser said.Officers need range time to practice so they can fulfill certification requirements, Lacy said. Overland Park and Shawnee currently rent time from several private firing ranges.But demands for range time are high and departments must compete with private citizens learning their own weapons. Using private ranges also is expensive, not only for the rental time but also for time spent traveling to ranges as much as a half hour away, Moser said.Having a police firing range would save money over the long run, he said.The partnership was based on the location of the prospective site, Moser said. Now both police departments will begin to look for other options.Overland Park’s long-range budget planner, the capital improvements program, did have some notable new spending on other police department items, however.For instance, the city is planning a big increase in spending on police body cameras to be purchased in 2019 and 2020.The city put body cameras on its budget for the first time last year, planning on $150,000 to pay for 100 in 2018, with more planned in subsequent years.This year’s proposed budget adds 150 more cameras but moves the purchase back to 2019 and 2020. The total projected cost, however, is increased to $750,000. Most of the cost increase – about $450,000 – pays for long- and short-range storage of data from the cameras.Also new on the police long-range budget this year is replacement of a “bomb truck” for $450,000. The city’s current bomb truck holds tactical operations equipment and is 15 years old. Replacement is planned for 2020.The capital improvements program is a five-year projection of upcoming expenditures, and not a final budget. The total CIP is for $180.8 million from 2019-2023.The plan will come before the city council for action on April 2, but even then it’s still only a plan. Final decisions on actual spending for next year happen when the city budget is approved.