Ledyard Financial Group, Inc. (LFGP) announced today that its Board of Directors has voted to not participate in the U.S. Treasury Department s Capital Purchase Program (CPP). Ledyard was approved for funds, but after careful review of Ledyard s core businesses and capital position, the constraints and uncertainties of the CPP, and the overall strength of the Company, the Board of Directors decided to withdraw Ledyard s application.The CPP is part of the Federal Government s Troubled Asset Relief Program (TARP) approved by Congress to strengthen the banking system by providing healthy banks with additional capital. The Board of Directors as part of the Company s ongoing capital planning activities evaluates its need for capital to support Ledyard s community banking and wealth advisory services businesses. The Board concluded the most effective option available to Ledyard at this time is through the retention of earnings. As of December 31, 2008, Ledyard was well-capitalized according to regulatory requirements. Its Tier 1 leverage capital ratio was 8.90%, its Tier 1 risk based capital ratio was 13.23% and its total risk based capital ratio was 14.49%. All of these ratios are well in excess of those required to be considered well-capitalized.Ledyard Financial Group, Inc., headquartered in Hanover, New Hampshire, is the holding company for Ledyard National Bank. Ledyard National Bank, founded in 1991, is a full service community bank offering a broad range of banking, investment, tax and wealth management services in the Dartmouth-Lake Sunapee Region. Ledyard National Bank has eight offices with locations in Hanover, Lebanon, Lyme, New London, and West Lebanon, New Hampshire and in Norwich, Vermont.Ledyard Financial Group, Inc. shares can be bought and sold through the NASD sanctioned Pink Sheets under the trading symbol LFGP. Shares may be traded through an individual s broker. For more information, please refer to the Investor Relations section of the bank s website at www.ledyardbank.com(link is external) or contact the Company s Chief Financial Officer, Gregory D. Steverson.Source: Ledyard. (Hanover, NH March 31, 2009)
9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NAFCU witness Brian Ducharme, president and CEO of MIT Federal Credit Union (Cambridge, Mass.), will detail credit unions’ concerns about the NCUA’s risk-based capital rule (RBC) and comment on other legislation consequential to credit unions during a House Financial Services subcommittee hearing Thursday. His testimony marks the ninth time a NAFCU witness will deliver testimony before Congress this year.During the hearing, Ducharme will provide members of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit with his and NAFCU’s assessment of five bills that aim to provide regulatory relief to credit unions and other financial institutions. The hearing begins at 2 p.m. Eastern Thursday.One bill being considered, which was recently introduced by Rep. Bill Posey, R-Fla., would repeal the NCUA’s RBC rule, which is set to go into effect Jan. 1, 2019. continue reading »
When the economy expands or contracts, loan growth and share growth have historically had an inverse relationship. In times of economic prosperity, consumers are more confident and in turn take out more and larger loans. During periods of economic contraction, consumers seek safe havens for their savings in lieu of leverage.In simple terms, the loan-to-share ratio can be used to assess how effectively an institution is deploying its balance sheet. A rising ratio signals that loan growth is outpacing deposit growth. As loan-to-share ratios approach 100%, institutions will commonly seek additional sources of liquidity (borrowings), sell loans off their balance, or tighten lending criteria to slow additional future loan growth.Over the past five years, the average credit union loan-to-share ratio has increased 15.5 percentage points. In the second quarter of 2018 quarter alone, it has increased 2.3 percentage points, reaching 82.9%, and remains only 86 basis points below the record high reached in September 2008 of 83.7%. continue reading » 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
We’re talking about how to provide the best financial education possible to support your members through the COVID-19 crisis, and foster lasting financial wellness for them into the future. This pandemic is having a profound effect on every American’s financial health, and credit unions can position themselves to be the guiding hand that members need right now. We’re going to dive in and explore some of the strategies and opportunities that exist to help your members thrive through the crisis and beyond.Key Takeaways:[01:23] Americans who resisted online banking technology have been forced to use it during the shutdown. [03:41] The credit unions that focus on helping members get financially healthy through online tools will be a step ahead. Consistency and clear message when introducing members to online tools is key. [08:44] It is important that the credit union staff embraces the technology updates first. We need all the staff to buy-in and be proficient on the technology so they can help members.[13:16] Interaction and engagement is everything! Many credit unions are engaging members in free challenges and rewards for completing financial education. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
He had also advised the perpetrators’ parents to ensure that their children do not repeat the same offense.The Bandung Police’s Criminal Investigation Unit head Galih Indragiri also confirmed that the case had been closed.Read also: YouTube prankster arrested after giving out garbage-filled ‘aid packages’ to transwomenWhen interviewed by reporters after his release, 21-year-old Ferdian said he regretted the prank and vowed not to make other videos with negative content. “We’ll see [whether I will continue making YouTube content], but it will certainly be more positive,” he said. The controversial video, uploaded on May 3, showed Ferdian and his 20-year-old friend Tubagus Fadilah Achyar claiming that they were going to give out “aid packages” in the form of instant noodle boxes that actually contained bricks and garbage for people whom they called bencong, a pejorative Indonesian term for transwomen, in West Java’s provincial capital of Bandung. The video immediately received a massive backlash from social media users as well as lesbian, gay, bisexual and transgender (LGBT) rights activists who condemned the bullying and harassment against the minority group. It was removed from YouTube shortly after.Ferdian and Tubagus, along with their friend M. Aidil, 21, were arrested by the police on May 8 after the victims filed the report. They were charged with violating several articles of the Electronic Information and Transactions (ITE) Law for distributing electronic information containing insults and defamation.After the arrest, a video went viral showing Ferdian being bullied by other inmates in the detention room of the Bandung Police headquarters. The video showed him shaved bald, stripped to his underwear, forced to do squat jumps and dipped into a trash can filled with water.Topics : YouTube vlogger Ferdian Paleka and two of his friends were released from prison on Thursday after being detained for less than one month for posting a controversial video showing them pulling a “prank” by giving fake staple food donations in the form of boxes containing garbage to transwomen.The trio’s lawyer, Rohman Hidayat, said the case was settled on May 19 with the transwomen victims, who initially reported Ferdian and his friends to the police on May 1. The victims had also retracted the report and dropped all legal proceedings, the lawyer said.”We thank all parties, including the transwomen, who are willing to revoke the charges and bury the hatchet with the suspects,” Rohman told kompas.com on Thursday. “The victims also came here earlier and we shook hands, so the problem is over.”
DES MOINES — The Iowa House has passed a small batch of bills about broadband service in the state. Representative Ray Sorenson of Greenfield said during House debate that the GOP lawmakers and staff who’ve been working on these issues have begun calling themselves the “broadband bros.”“I want you to know that we aren’t done and that we will continue to work to connect every last Iowan,” Sorenson said.One bill clarifies that state grants to local telecommunications companies for broadband projects are not considered income. Republican Representative Brian Lohse of Bondurant said that means those grants are not subject to state income taxes.“This bill will ensure that companies are able to expand broadband with every dollar that they are provided by the state,” Lohse said.Representative Dave Williams of Waterloo, a Democrat, estimated the bill’s value.“This puts another $1.5 million or so into this expansion,” Williams said.Another bill extends the state law that set up statewide rules for how cities and counties may regulate where cell towers are placed. Republican Representative Jeff Shipley of Fairfield was the only lawmaker to object, arguing cell towers may be a health hazard.“Basically as a society we’ve placed such a emphasis on fast and cheap, we’ve totally forgotten about safety,” Shipley said.Another bill that passed unanimously would have the Iowa DOT publicize road construction projects that dig into ground where private companies could install fiber optic cables. It’s being referred to as a “dig once” policy. Another part of that bill would create a new state program to designate Iowa communities as “broadband forward” or “telecommuter forward” zones. It would be up to the Iowa Economic Development Authority to come up for the criteria for those designations.“This is a good bill for Iowa. I hope it helps rural communities,” said Representative Brian Meyer, a Democrat from Des Moines.The other broadband-related bill that passed the House last week calls for a legislative study of exchange points that route traffic on the internet.
Submitted by Thurston CountyWarm summer weather may still be a few weeks away, but summer job opportunities are already cropping up at the Thurston County Fair—and going fast! Applications for as many as 40 temporary jobs with the Thurston County Fair must be received by 5 p.m. on Friday, May 31.Temporary fair workers help make the fair clean, safe and fun for fairgoers of all ages. Job duties include tasks like washing tables and cleaning facilities and equipment for two-legged and four-legged fairgoers, selling and collecting tickets, assisting with managing fair parking, and helping with office duties like data entry and answering phones, along with many other tasks and duties that keep the Thurston County Fair running smoothly. Temporary fair workers will earn between $9.19 and $10.50 per hour.Temporary fair workers must be at least 16 years old and must submit a Thurston County employment application and disclosure form. Applications must be received by 5 p.m. on Friday, May 31 at the Information Desk in Building One at the County Courthouse at 2000 Lakeridge Drive SW in Olympia. Postmarks and electronic applications will not be accepted. Applications will not be accepted at the Thurston County Fair Office in Lacey. The job description, employment forms and information about working for Thurston County can be downloaded at http://www.co.thurston.wa.us/cm/hr/external-employment.asp.WHAT: Thurston County Fair—Apply for Temporary Fair JobsWHEN: Applications must be received by 5 p.m. on Friday, May 31*Postmarks and electronic application packets will not be acceptedSubmit applications to:Thurston County Information DeskBuilding 12000 Lakeridge Drive SWOlympia, WA 98502-6045For more information on the temporary fair jobs or the Thurston County Fair, contact the Thurston County Fair Office at (360) 786-5453 or visit www.co.thurston.wa.us/fair. Facebook0Tweet0Pin0