Milford, MI based Huron Valley Bancorp, Inc., the holding company for Huron Valley State Bank, announced that it has redeemed all of the 2,597 outstanding shares of Senior Non-Cumulative Perpetual Preferred Stock Series A, that had been issued to the United States Department of Treasury, pursuant to the Treasury's Small Business Lending Fund ("SBLF") program. The aggregate redemption price of the Preferred Stock was approximately $2.6 million, including accrued dividends, and was repaid with proceeds borrowed from a financial institution. The decision to redeem the stock was influenced by the scheduled increase in dividend rate at the 4 ½ year anniversary of our participation in the program.

Huron Valley Bancorp, Inc. (NASDAQ: HVLM) recorded record net income of $1,027,000 or $1.21 per share for the year ended December 31, 2015, compared to $720,000 or $0.87 per share for the previous twelve month. This represents a 42.4% increase over last year. For the complete year 2015 return on average equity (ROAE) was 11.5% and return on assets (ROA) was 0.94%. The strong earnings performance is the result of continued loan growth, strong asset quality, fee income generated from residential mortgages, a favorable net interest margin, and disciplined expense control", said Jack J. Shubitowski, President & CEO. "We were successful in executing our overall growth strategy, with a particular focus on our lending portfolio and expanding our products and services to the community".

Huron Valley State Bank is pleased to announce the partnership with Johnson Elementary School for the "Bank At School" program. The bank opened for business on Friday, January 23rd after a Ribbon Cutting Ceremony at 9:15 am, and will operate the fourth Friday of every month from 9:13 – 9:30 am. This is the second elementary school partnership for Huron Valley State Bank.

Once a month, customers and visitors to a Huron Valley State Bank branch may notice the employees dressed casually. The last Friday of every month marks the employee driven Casual for a Cause program, which allows bank employees to pay to dress casually and collectively contribute to worthwhile causes. In 2014, the bank raised over $1,100 in monetary donations and several large bins of non-perishable foods.