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Banking and Finance
Banking And Finance

The board of directors of U.S. Bancorp has approved a 150 percent increase in the dividend rate on U.S. Bancorp common stock to $0.50 on an annualized basis, or $0.125 on a quarterly basis. The quarterly common stock dividend of $0.125 per common share was payable on April 15 to shareholders of record at the close of business on March 31.

Additionally, the board of directors of U.S. Bancorp approved an authorization to repurchase up to 50 million shares of its outstanding common stock. This new authorization replaces the company’s current share repurchase program. read more »

Leasing For Energy Efficiency

Political turmoil in several Middle Eastern petroleum-producing nations has only increased the uncertainty about energy supplies and consequent price volatility worldwide.

Naturally, this factor has fanned the drive for increased energy efficiency and cost controls by businesses in Kitsap County and throughout the country.

Many companies in this environment are taking a new look at equipment leasing as a strategy to bring energy efficiency retrofits — such as energy-saving lighting, and HVAC systems — within reach. read more »

Banking And Finance

She stood up, alone in a group of strangers, walked to the front of the classroom, took an obvious deep breath and said in a soft but firm voice, “My name is Eve King-Hill and I want to start a psychotherapy practice in Poulsbo.”

Eight weeks later, Eve and 25 other entrepreneurs graduated from what she described as an ‘intense’ Business Development Training Class offered by the Washington Community Alliance for Self Help (CASH).

In the class, Eve worked on her business and when it appeared to be a feasible idea, she began to develop a formal business plan. read more »

Banking And Finance

Many people depend on certificates of deposit (CDs) to provide extra income. Yet CD rates have been fairly low for a while. In recent months, in fact, one-year CDs were paying about 0.5 percent, two-year CDs topped out at around 1 percent, and five-year CDs paid in the 2 percent to 2.3 percent range. Those rates are scanty enough, but they can seem even lower in an economic environment marked by rising food and gas prices.

Before you consider alternatives, keep in mind that CDs still offer a key advantage: safety of principal. The Federal Deposit Insurance Corporation (FDIC) typically insures CDs up to $250,000. read more »

Banking And Finance

When online banking became available a few years ago, consumers were cautious in adopting the new convenience. Since then, online banking has become mainstream — and more popular for some transactions than visiting a branch. An American Bankers Association survey last year estimated that 36 percent of consumers preferred online banking, compared to 25 percent for branches — a reversal from 2007, when online comprised 23 percent and branch banking 35 percent. read more »

An interview with Kitsap Bank’s Jim Carmichael

Jim CarmichaelThe banking industry has been in turmoil in the past year, both locally and nationally. In Kitsap, the number of locally owned community banks has dwindled from four to two, counting the newly opened Liberty Bank. As the economy is slow to turn around, the timeline for a full recovery in the financial sector remains uncertain.

The Kitsap Peninsula Business Journal visited with James Carmichael, president and chief executive officer of Kitsap Bank read more »

Banking And Finance

As an investor, you might think it’s easy to evaluate your investments’ performance. After all, the bigger the gain, the better, right? This statement is true enough, but as an investment strategy, it’s incomplete — and, if followed rigidly, it could lead you to make some mistakes that could hinder your progress toward your financial goals.

What are some of these potential mistakes? Here are a few to consider: read more »

Banking And Finance

In life, you can’t avoid all risks — and you shouldn’t try, because endeavors that carry risk also bring the prospect of reward. And it’s certainly the same in the investment world. So instead of trying to invest risk-free, which is impossible, learn to recognize the different types of investment risk while becoming familiar with your own risk tolerance.

To start with, let’s quickly look at some of the most common forms of investment risk: read more »

Banking And Finance

Washington Federal, Inc., parent company of Washington Federal, announced earnings of $82,111,000 or $.73 per diluted share for the quarter ended March 31, compared to $8,410,000 or $.10 per diluted share for the same period one year ago. Earnings increased by $73,701,000 or 876 percent primarily as a result of a $55 million after tax gain on the acquisition of the former Horizon Bank and a $39 million tax benefit related to the settlement of a contingent tax liability. The provision for loan losses was $63 million for the quarter ended March 31, a $9 million increase over the $54 million provided for the same quarter one year ago. The Company’s ratio of tangible common equity to tangible assets ended the quarter at 11.50 percent and continues to be among the best of large regional institutions in the U.S. read more »

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