Bank News

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".

Huron Valley State Bank Announces the Partnership with Johnson Elementary School

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.

Huron Valley State Bank Employees Give Back to the Community Casual For A Cause Program Raises over $1,100

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.

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