Bank News

Huron Valley State Bank and Deutch & Associates, A Financial Advisory Practice of Ameriprise Financial Services, Inc. Co-Sponsor Shredding Truck

At YMCA Earth Friendly Family Fun Festival on April 24th from 12:00-4:00 pm

In conjunction with the Green Team and Carls Family YMCA's Earth Friendly Family Fun Festival, Huron Valley State Bank and Elizabeth K. Deutch, CFP® are once again co-sponsoring the community shredding program on Sunday, April 24, from 12:00-4:00 pm, at the Carl's Family YMCA at 300 Family Drive, Milford.

Huron Valley Bancorp, Inc. Increases Dividend 33%

Jack J. Shubitowski, President and CEO of Huron Valley Bancorp, Inc. (HVLM), the holding company for Huron Valley State Bank, announced that the Board of Directors has declared a dividend of eight cents (.08) per share, representing a 33% increase over last year's dividend of six cents (.06) per share. The dividend is payable March 16, 2016 to shareholders of record as of February 16, 2016. The Board, in declaring this dividend, has indicated that the bank has demonstrated consistent growth and strong profitability.

Huron Valley State Bank Partners with Cygnet Institute For 2016 Winter Series Offering Adult Financial Literacy to the Community

Huron Valley State Bank (HVSB) and the Cygnet Institute partnered to offer a comprehensive adult financial literacy program for the community through the area libraries in the fall of 2015. To continue this partnership in 2016, the Waterford Public Library, Highland Township Public Library and the Milford Public Library are once again offering the 2016 Winter Series seminars on Personal Finance.

The Cygnet Institute of Personal Financial Literacy is a non-profit organization. The workshops will adhere to the Fiduciary Standard and are designed to be a true educational experience without a sales pitch. "Financial Literacy is a key to the success of any community. These workshops for public libraries are designed to help people with their financial decisions with no sales pitch or follow up solicitations. Regardless of your stage in life, everyone can benefit from these hands on classes," said Ted Lakkides®, CFP® founder and President of Cygnet Institute for Personal Financial Literacy.

Huron Valley Bancorp, Inc. Announces the Redemption of Stock

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. Reports Strong Q4 and Record Results for 2015

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".


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