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Who’s looking out for individual investors?
By Ron Rada |
| If you’ve been investing for a while, you know that there are few guarantees in the investment world and that, in one way or another, you’re going to be taking some risks with your money. Still, you’d like to know that you’re participating in a system that is fair to everyone and governed by rules. So you may ask yourself: “Who’s looking out for me... (Full Article) |
Small business owners largely satisfied
Despite a significant drop in optimism, most small
business owners would do it again |
| Despite the third-straight reported decline in their confidence in the economy, most small business owners are satisfied with their lot, according to a recent Wells Fargo/Gallup Small Business Index survey... (Full Article) |
When changing jobs, don’t short
change your 401(k)
By Jay Seaton |
| Your 401(k) plan can be a major component of your retirement savings. As you know, your 401(k) offers several different investment options and the chance to accumulate tax-deferred earnings. But what will happen to your 401(k) if you leave your job before you retire? You’ve got several choices — and it’s really important that you make the right one, because your decision can have a major impact on your retirement lifestyle... (Full Article) |
Small business owners’ concern:
Not enough money for retirement |
| Nearly half of small business owners are concerned they will not have enough money to retire (43 percent) and many say they are worried about not being able to pay for medical costs of a serious illness or accident (47 percent) according to the latest Wells Fargo/Gallup Small Business Index survey... (Full Article) |
What can investors learn from gardeners?
By Ron Rada |
| Spring is here. If you’re a gardener, you know it will soon be time to put in your flowers or vegetables. But even if you don’t have a green thumb, you can still take advantage of the season by “planting the seeds” for the growth of another valuable piece of property: your investment portfolio... (Full Article) |
Wells Fargo Economists: Economy
continues to slow, recession unlikely |
| The fallout from the housing slump and the so-called “credit crunch” will prove less severe than many fear, said Wells Fargo’s senior economists during the company’s annual economic forecast teleconference recently... (Full Article) |
Liberty Bank announces
capital fundraising milestone |
| Liberty Bank has announced that it has collected Letters of Intent of over $6 million — marking the halfway point to its capital fundraising goals of $12 million. This milestone has been reached in just over three months since the bank in organization received its application acceptance from the FDIC and was cleared to begin seeking shareholders... (Full Article) |
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IndyMac Bank opens local retail lending office |
| IndyMac Bank, the seventh-largest savings and loan and the second-largest independent mortgage lender in the nation, announced its retail lending group has opened a new office in Silverdale. Located at 9321 Bayshore Drive in Silverdale, the tenth IndyMac Bank retail lending office will be managed by Michelle S. Garcia. She plans to add six additional loan officers to her staff... (Full Article) |
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Kitsap Bank promotes Ormiston and Pullin |
| Kitsap Bank recently announced the promotions of Maralee Ormiston to vice president of consumer loans, and Dee Pullin to vice president and loan servicing manager... (Full Article) |
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Walton to lecture at Russian University |
| Stuart Walton, the Kitsap business development trainer and specialist for Washington CASH,has been invited to lecture and teach economics, strategic planning, leadership training and globalization at a University in Novosibirsk, Russia during the month of April. The University has about 11,000 students.
Walton has two Masters degrees, one in business and one in legal studies and commerce, and was the former owner of West Sound Business Supply in Silverdale and Paper Products on Bainbridge. He will be taking a one month leave of absence from Washington CASH, where he has been assisting people who are interested in starting a new business.
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Take steps to prevent identity theft
By Ron Rada |
| Identity theft is big business. In fact, each year billions of dollars — that’s billions, with a “B” — are lost to identity theft, according to the Federal Trade Commission (FTC). This cumulative figure may not mean that much to you, but if you are victimized, it can be upsetting and expensive. That’s why you’ll want to defend yourself against identity theft – and the best time to take action is before it happens to you... (Full Article) |
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Local wealth management firm adds staff |
| Investor Resources, Inc. (IRI), a Port Orchard wealth management and retirement planning firm, recently hired Dan O’Leary to oversee the firm’s expanding retirement planning department. IRI has offices in Port Orchard and Bellevue... (Full Article) |
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Venture announces record 2007 earnings |
| Venture Financial Group, Inc., parent company of Venture Bank, announced for the twelve months ended Dec. 31, 2007, net income was $12.7 million, an increase of $1.6 million or 14.4 percent. This compares to $11.1 million for the twelve months ended Dec. 31, 2006. For the three months ended Dec. 31, 2007, net income increased $100,000 or 3.2 percent to $3.2 million compared to $3.1 million for the same period in 2006... (Full Article) |
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Kitsap Bank reports record earnings |
| Kitsap Bank reported solid performance for 2007 with record earnings of $10.9 million. Assets rose six percent, growing by more than $43.4 million to an all time high of $770 million at year end. Total loans for the institution grew by $49 million to $653 million, an increase of nine percent; while deposits totaled $601 million... (Full Article) |
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Liberty Banks names Uhlig as new COO |
| Liberty Bank of Washington, a bank in organization headquartered out of Poulsbo, has hired Paul A. Uhlig to serve as Chief Operating Officer and Compliance Officer... (Full Article) |
Frontier Bank announces promotions,
new positions |
| Diane Ormsby was recently promoted to vice president and manager of the bank’s western region loan operations center in Poulsbo. She has 30 years of experience in the banking industry and joined Frontier Bank in 2000 through a merger with North Sound Bank.
Frontier Bank also announced that Suzette Gould has joined its Poulsbo office as a commercial loan officer. She has been in banking for over 13 years and previously worked at larger regional banks in the south Puget Sound region.
Reach Gould at (360) 598-8025.
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Peninsula Credit Union
wants scholarship applications |
| Peninsula Credit Union is now accepting applications for its 2008 scholarship program. The program includes three scholarship opportunities and recently raised the amount each recipient will receive by $500, for a total awarded amount of $4,500. Students pursuing academic or vocational education within its membership area are eligible to apply. Applicants must be a Peninsula Credit Union member or a dependent of a member before submitting their application. Completed applications must be postmarked no later than April 4. |
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Smith Barney promotes Roscoe to VP |
| Smith Barney announced that financial advisor, Travis Roscoe, has been promoted to vice president. He has been with Smith Barney for three years, with eight years of experience within the financial services industry. As a financial advisor, he provides a full suite of investment services to high net-worth investors, foundations, small business owners and corporations focusing on wealth management, retirement planning, estate planning, and portfolio management. |
Will presidential election year affect investors?
By Ron Rada |
| As you are no doubt aware, 2008 is a presidential election year. As a citizen, you may well have a great deal of interest in the election. But how about as an investor? How does an election year affect the investment climate? And — from the perspective of an investor — does it matter who wins... (Full Article) |
Take advantage of
employee financial education
By Bim Prince |
| In the old days, if you worked for a company, your retirement income would likely have been in the form of a pension, with the amount based on your income level and years of service. Apart from those factors, you had little control over the size of your pension benefits. That pension model is still around, but it’s not as prevalent as it once was. Today, many employers offer 401(k) plans, which give you the responsibility of choosing the right investment mix for your risk tolerance and retirement goals. Yet, along with their 401(k)s, many employers also provide some level of financial education — so you’ll want to take full advantage of it... (Full Article) |
Washington Federal reports steady first
quarter amid mortgage market turmoil |
| Washington Federal, Inc., parent company of Washington Federal Savings, recently announced earnings of $33,048,000 or $.38 per diluted share for the quarter ended Dec. 31, 2007, compared to $33,384,000 or $.38 per diluted share for the same period one year ago. Total assets increased by $291 million or 3 percent to $10,576,641,000 from $10,285,417,000 at Sept. 30, 2007... (Full Article) |
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Tellinghuisen returns to Kitsap Bank |
| Larry Tellinghuisen, vice president and commercial loan officer at Kitsap Bank, recently returned after serving several months in Kuwait in the U.S. Naval Reserves. Tellinghuisen, who joined Kitsap Bank in 2006, will now be based out of the bank’s Poulsbo branch... (Full Article) |
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Frontier Bank announces a pair of promotions |
| Diane Ormsby was recently promoted to vice president and manager of the bank’s western region loan operations center in Poulsbo. She has 30 years of experience in the banking industry and joined Frontier Bank in 2000 through a merger with North Sound Bank.
Frontier Bank also announced that Suzette Gould has joined its Poulsbo office as a commercial loan officer. She has been in banking for over 13 years and previously worked at larger regional banks in the south Puget Sound region. The Poulsbo office is located at 19950 Seventh Avenue NE, and Gould can be reached at (360) 598-8025.
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Timberland Bank promotes Baggerly |
| Timberland Bank recently announced the promotion of Keith Baggerly to vice president. He has been with the bank for over 10 years and serves as branch manager and loan officer at the Silverdale branch.
“Keith has made significant contributions to the growth of Timberland Bank in the Kitsap market. I am pleased to recognize his expertise, hard work and dedication to the bank with this promotion,” stated Michael R. Sand, president and CEO.
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Merrill Lynch’s Todd Hankins earns CRPC |
| Todd Hankins, financial advisor with Merrill Lynch, has successfully completed the Chartered Retirement Planning Counselor (CRPC) program through the College for Financial Planning. The CRPC program covers 11 areas of study around the pre and post-retirement needs of individuals. Hankins has been with Merrill Lynch for two years and focuses his advisory practice in Kitsap County, where he works with individuals as well as businesses. He can be reached at (360) 509-0910. |
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Strunk completes UBS training program |
| Bill Strunk of the Poulsbo office of zZUBS Financial Services has completed the firm’s 5-month trainee program. Jim Hamner, the Poulsbo branch manager, said Strunk passed the registration examinations of the National Association of Securities Dealers and is now a fully registered financial advisor.
Hamner said the training program emphasizes a thorough understanding of the investment business and its products, including stocks, bonds, tax-advantaged investments and insurance products. Strunk is now licensed to sell these products.
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Venture Financial Group,
announces cash dividend |
| Venture Financial Group, Inc., parent company of Venture Bank, declared a cash dividend of 8.5 cents per share on Jan. 16, payable Feb. 8 to all shareholders of record as of Jan. 28. It’s the thirty-sixth consecutive quarterly dividend to be paid to shareholders. |
Which mutual funds are right for you?
By Ron Rada |
| About 96 million people own mutual funds, according to the Investment Company Institute, a trade organization for the mutual fund industry. So the chances are pretty good that you may already own some funds — but with more than 10,000 of them on the market, how can you know you’re picking the right ones... (Full Article) |
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Viking Bank reaches major local milestone |
| Viking Bank has achieved $500 million in assets, announced Doug Stephenson, Kitsap County market manager for the bank... (Full Article) |
What are your New Year’s Credit Resolutions?
By Paula Bartlett, Saba & Associates |
| What are your New Year resolutions? Well, if you have anything to do with credit or the desire to be paid for services rendered, I would recommend the following to be added to that list of changes... (Full Article) |
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Frontier Financial Corp. ranked tops in nation |
| Frontier Financial Corporation, parent company of Frontier Bank, was recently rated as the nation’s top performer among the 150 largest financial institutions in the United States. Frontier achieved that recognition based on a scorecard ranking that focused on profitability, capital adequacy and asset quality identified in a report provided to Bank Director Magazine by Sandler O’Neill & Partners, L.P., a New York investment bank that specializes in bank stocks... (Full Article) |
Bank tag sale yields donations
for local organizations |
| American Marine Bank (AMB) raised over $3,000 for local charities at a tag sale held Nov. 3 at the bank’s previous location at 9490 Silverdale Way. All cash proceeds from the sale will be donated to the Linder Foundation and the Kitsap HIV/AIDS Foundation... (Full Article) |
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AMB declares dividend |
| The Board of AMB Financial Services Corporation, parent company of American Marine Bank, has declared a cash dividend of .13 cents per share on the company’s common stock for the fourth quarter of 2007. The dividend is for shareholders of record on Dec. 31, 2007 and payable Jan.15. |
Washington Fed declares 100th
consecutive cash dividend |
| The Board of Directors of Washington Federal, Inc. (NASDAQ-WFSL), parent company of Washington Federal Savings, has announced a quarterly cash dividend of 21 cents per share. The dividend will be payable Jan. 11. to common stockholders of record on Dec. 28, 2007. This will be Washington Federal’s 100th consecutive quarterly cash dividend. |
Investments can make great holiday gifts
By Ron Rada |
| Now that the holidays are here, you’re probably looking around for the right gifts for your loved ones. Of course, as you know, it’s not always easy to find gifts that are both meaningful and useful. This year, why not add financial gifts to your shopping list... (Full Article) |
When choosing mutual funds,
look past short-term return
By Jeff Thomsen |
| What’s the most prominent thing you notice about mutual fund advertisements? In most cases, it’s the fund’s return. Quite often, these returns are truly eye-popping. But if you look closer at the ads, you’ll see that many of the highest returns are for short periods of time, such as one year or three years. And a mutual fund’s short-term return is not, by itself, reason enough to buy that fund... (Full Article) |
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Wagner joins Kitsap Bank’s investment team |
| Kitsap Bank recently welcomed LPL Financial Advisor Joanne Wagner as the newest addition at its Olympic Investment Center, located in the lobby of Kitsap Bank in Silverdale. Wagner comes from A.G. Edwards in Medford, Ore. where she provided individualized investment planning to customers... (Full Article) |
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ING Direct acquires ShareBuilder |
| ShareBuilder, the Seattle-based discount brokerage which allows clients to buy partial shares in conjunction with other inverstors, has been acquired by ING Direct, the nation’s largest direct bank with over 5.5 million customers and $75 billion in U.S. assets... (Full Article) |
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Whitesitt earns national CTFA certification |
| Barbara J. Whitesitt, trust administrative officer for American Marine Bank, was recently awarded the Certified Trust & Financial Advisor (CTFA) designation from the Institute of Certified Bankers (ICB). She has been with American Marine Bank’s Trust Department since 2004 and has a substantial background in trust and estate administration... (Full Article) |
New operations officer
at Westsound Bank in Sequim |
| Westsound Bank has named Carolyn Whitehouse as the branch operations officer in the Sequim branch. She brings over 30 years of extensive banking experience and was most recently with Wells Fargo. |
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KeyCorp declares regular quarterly dividend |
| The Board of Directors of KeyCorp (NYSE: KEY) announced a regular cash dividend of $0.365 per share of its common stock. The dividend is payable December 14, 2007 to shareholders of record on November 27, 2007.
Cleveland-based KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $97 billion.
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Match financial goals
with the right investments
By Ron Rada |
| Over the course of your life, you’ll almost certainly have many different financial goals — and to help achieve them, you’ll need to use many different investments. How might you target specific investments for specific goals? Here are a few suggestions... (Full Article) |
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KeyCorp reports third quarter earnings |
| KeyCorp, the parent company of Key Bank, which has numerous branches on the Kitsap Peninsula, announced third quarter income from continuing operations of $224 million, or $0.57 per diluted common share. This compares to income from continuing operations of $305 million, or $0.74 per share, for the third quarter of 2006, and $337 million, or $0.85 per share, for the second quarter of this year... (Full Article) |
American Marine Bank open
for business at new location |
| American Marine Bank recently announced the opening of its new Silverdale office at 10100 Silverdale Way. Staff from the bank’s current location at 9490 Silverdale Way NW and its Home Loan Center at 10868 Myhre Place moved over to the new facility... (Full Article) |
Take this retirement planning quiz
By Ron Rada |
| Your school days may be behind you, but that doesn’t mean you shouldn’t test yourself on various subjects from time to time. And one of the most important topics you can study is retirement planning. So, spend a couple of minutes on this quiz. The answers — and even the questions — may prove valuable as you save and invest for retirement... (Full Article) |
New kind of insurance product
gives consumers more options |
| Allstate, recently introduced “Allstate Your Choice Home,” the company’s latest choice-driven insurance product. According to local Allstate agent Betty Skinner, census data indicates that Washington’s population grew by more than 21 percent from 1990-2000, compared to the countrywide average of 13.1 percent. From 2000-2006, the Evergreen State’s population grew by 8.5 percent, compared to the 4.3 percent national average growth... (Full Article) |
The Check is in the Mail
The power of a contract
By Paula Bartlett |
| Recently a plumbing company placed a large dollar account with us for collections. The amount was around $14,000 and was a great deal of money to our client. We looked at his contract, which allowed the cost of collections to be added if the account became delinquent, which obviously it was. The clause allowed us to add our collection fee to the balance due, and give the plumbing company one hundred percent of their money once it was collected. The contract was signed and legally binding... (Full Article) |
Companies must register officers
with the state |
| A new law adopted by the state legislature earlier this year required all corporations to have registered their officers with the state Employment Security Department by Sept. 30. All corporations in Washington, including nonprofit organizations, must provide the following information for each officer: full name; title; social security number; home address; the date the person became a corporate officer; how much stock the officer owns; and how the person is related to other officers who own more than 10 percent of the business... (Full Article) |
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