Jeff Bank announces higher earnings and more

What's new for business in the Upper Delaware region, December 30 to January 5

Posted 12/29/21

GHP receives Villaume Foundation grant

HONESDALE, PA — The Greater Honesdale Partnership (GHP) has received a $30,000 community grant award from the John and Helen Villaume Foundation. Lisa …

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Jeff Bank announces higher earnings and more

What's new for business in the Upper Delaware region, December 30 to January 5

Posted

GHP receives Villaume Foundation grant

HONESDALE, PA — The Greater Honesdale Partnership (GHP) has received a $30,000 community grant award from the John and Helen Villaume Foundation. Lisa Burns, Kim Fisch, Jill Hessling and Brian Wilken, on behalf of the GHP, accepted the check from Villaume Foundation board members Jon Villaume, Dr. Paula Bennett, Lewis J. Critelli and Tracy Schwarz.

The Greater Honesdale Partnership is a nonprofit organization composed of businesses, organizations and individuals from the greater Honesdale area. The group focuses on bringing structure, growth and development to the community. The Villaume grant will be used in the GHP’s Downtown Honesdale Revitalization project.

To learn more, visit https://www.visithonesdalepa.com.

To learn more about the Foundation or obtain grant applications, write to the John and Helen Villaume Foundation, c/o Wayne Bank Wealth Management and Trust Services Division, 717 Main St., Honesdale, PA  18431; call 570/253-1571; or email  Trust@WayneBank.com.

Waste Management earns highest industry ranking on sustainability indices

TAYLOR, PA — Waste Management (WM) has been listed on the 2021 World and North America Dow Jones Sustainability Indices (DJSI).

The company was recognized for its commitment to environmental, social and corporate governance (ESG) leadership, and its commitment to responsible and sustainable business practices, according to a news release.

The new DJSI listing marks the fourth year WM has been a leader in commercial and professional services, said spokesman John Hambrose. The company employs nearly 150 environmental professionals at Alliance Landfill in Taylor, Apex Waste Services in Dunmore, and at its Beach Lake hauling company and transfer station in Wayne County.

The company, Hambrose said, was ranked first in the governance and economic dimension, first in the environmental dimension and second in the social dimension.

“As we continue our sustainability journey, we meet and exceed the stringent sustainability standards to be ranked on the DJSI among other leading companies around the world,” said Tara Hemmer, WM senior vice president and chief sustainability officer. “This is because of the tireless commitment to progress by our nearly 50,000 team members.”

Roche’s Garage now also a U-Haul dealer

CALLICOON, NY — If you need a rental van or truck, or even moving supplies, you now have another place to go. Roche’s Garage in Callicoon has signed on with moving company U-Haul to become a U-Haul dealer in addition to their auto service business.

Roche’s Garage, on Route 17B,  will offer U-Haul trucks, trailers, towing equipment, moving supplies and in-store pickup for boxes. The business first opened in 1928 as a GM dealer, and over time have shifted their focus to repairs.  “We’ve developed an excellent reputation for unmatched customer service in our current role as an auto service center,” it notes on its website.

As an essential service provider, U-Haul stores and dealers have been keeping busy, according to a company representative. U-Haul products are used by first responders, delivery companies that carry supplies to the homebound, small businesses, students and others—plus, of course, the household mover.

Normal business hours at Roche’s Garage are 8 a.m. to 5 p.m. Monday through Friday. For more information, call 845/385-5118 or visit https://callroches.com/.

To learn more about their U-Haul products, go to https://bit.ly/3pfnKTJ.

Norwood Financial increases cash dividend

HONESDALE, PA — Norwood Financial and its subsidiary, Wayne Bank, announced a $0.28 per share quarterly dividend, payable on February 1, 2022 to shareholders of record as of January 14.

The new dividend represents an increase of 7.7 percent from the fourth quarter of 2020.

In 2021, total cash dividends were $1.06 per share, compared to $1.01 per share from 2020. The stock trades on Nasdaq Global Market as NWFL.

For more information on Wayne Bank, visit https://wayne.bank/.

Jeff Bank announces higher earnings for third-quarter 2021

JEFFERSONVILLE, NY — Jeffersonville Bancorp, Inc. recently announced a third-quarter net income of $1.45 million or $0.34 per share. In third-quarter 2020, earnings stood at $1.296 million or $0.30 per share.

The increase of $157,000 was primarily due to an increase in securities and other interest and dividends of $259,000, decreases in provision for loan losses of $250,000 and in interest expense of $50,000, and increases in fee income of $142,000 and service charges of $47,000.

These improvements were partially offset by a decrease in loan interest and fees of $347,000 and increases in total non-interest expense of $87,000 and in tax expense of $54,000.

Year-to-date net income as of September 30 was $4.5 million or $1.06 per share, compared to $3.6 million or $0.85 per share in 2020.

“COVID-19 pandemic related economic stimulus, combined with the inability of consumers to increase spending due to continuing disease outbreaks and supply chain bottlenecks, has led to an industry-wide increase in deposits,” said Jeff Bank president George Kinne. “Due to the excess cash that has resulted from the rise in deposits, competition for earning assets such as loans and securities has driven down both volume and rates… We continue to be optimistic that our focus on our core business, strong capital position, and high levels of liquidity will enable us to take advantage of competitive opportunities as they arise,” he said.

A cash dividend in the amount of fifteen cents ($0.15) per share on the common stock of the company was declared at the November 9 meeting of the board.  

Jeff Bank has 12 full-service branches in Sullivan and Orange counties.

For more information, visit https://www.jeff.bank/.

Law firm Jacobowitz and Gubits Sullivan’s 2021 business of the year

CALLICOON, NY — At its annual meeting in November, the Sullivan County Chamber of Commerce recognized Monticello law firm Jacobowitz and Gubits (J&G) as 2021 Business of the  Year.

The meeting and award ceremony were held at the Villa Roma resort in Callicoon.

J&G is one of the largest full-service law firms in the Hudson Valley, according to a spokesperson from the Chamber. It represents individuals, businesses, nonprofits and municipalities in the Hudson Valley.

The firm has over 20 attorneys and more than 20 staff members, practicing in over 30 areas of law.  

The firm was recognized “for its dedication to the residents and businesses of our community, and for the firm’s efforts towards the improvement of Sullivan County,” according to a news release. Members participate in over 20 pro-bono volunteer organizations and sit on over a dozen nonprofit boards.

“For over 50 years, J&G has been committed to providing the best possible legal services in the Hudson Valley and giving back to the communities we serve,”  said Michele L. Babcock, managing partner. “We are proud that the Sullivan  Chamber has honored us for our efforts.”

For more information about the Sullivan County Chamber of Commerce, visit https://www.catskills.com/.

Find Jacobowitz and Gubits at https://www.jacobowitz.com/.

NEPA insurance company Olsommer-Clarke receives the Hirt Award from Erie Insurance. Pictured are Donald Olsommer, Sr, left, Kelli Fantauzzo, Jeff Olsommer and Donald Olsommer, Jr.
NEPA insurance company Olsommer-Clarke receives the Hirt Award from Erie Insurance. Pictured are Donald Olsommer, Sr, left, Kelli Fantauzzo, Jeff …

Olsommer-Clarke Insurance receives award

HONESDALE, PA — Olsommer-Clarke Insurance Group has been named the winner of the Erie Insurance F.W. Hirt Quality Agency award; it is the highest honor an Erie Insurance agency can receive, according to a news release.

Each year, Erie gives the award to agencies that best demonstrate a long-term commitment to exceptional service, performance and profitability.

Olsommer-Clarke serves Pennsylvania and Kentucky and has offices in Hamlin, Honesdale, and Moscow, PA and Elizabethtown, KY.

“For almost 50 years Olsommer-Clarke Insurance Group has forged its reputation on quality service, competitive pricing, and giving back to our local community,” said Jeff Olsommer, company principal.

To learn more about Olsommer-Clarke or its insurance products, visit https://www.OlsommerClarke.com.

Greater Honesdale Partnership, Villaume Foundation, Downtown Honesdale Revitalization, Waste Management, Roche's Garage, U-Haul, Norwood Financial, Wayne Bank, Jeff Bank, Jacobowitz and Gubits, busisness of the year, Olsommer-Clarke Insurance Group, quality award

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