hallmark grammy winners obama budget woolly mammoth belize resorts nikki minaj grammy performance shel silverstein
Thursday, January 31, 2013
Exterior Doors Professional US Door & More Inc. Wins Best of ...
Wednesday, January 30, 2013
'Mean Girls' on Broadway? Our Dream Cast Would Be?
Tina Fey is officially working on Mean Girls: The Musical, and we couldn't be more excited.
Colorado Springs pga tour Nora Ephron mario balotelli mario balotelli espn3 kevin youkilis
Apple Adds 128GB 4th-Generation iPad to the Mix
Source: http://feedproxy.google.com/~r/GearFactor/~3/T8Eozelpt0E/
david bowie elvis presley elvis presley alex jones the bachelor Google Docs Huell Howser
Tuesday, January 29, 2013
Atlanta: We're Casting for Our Next Film on Blended Families | Black ...
Tyler New Media is casting for a full length multi-cultural film on blended families (step-parenting etc?) set to release later this year. We?re looking for people that have been impacted in both good and negative ways from being a part of a blended family situation. Filming will take place on Tuesday February 5, 2013 through Friday February 8, 2013 in the Atlanta area. You would need to be available for approx. up to 3 hours on one of those days in the Atlanta area. If interested fill out the form and we?ll contact you shortly.
About the author
Boy Meets World elizabeth taylor cam newton danielle fishel FedEx Gabriel Aubry halle berry
Obama launches push for immigration overhaul
Sen. Marco Rubio, R-Fla.. center, answers a reporter's question as he and a bipartisan group of leading senators announce that they have reached agreement on the principles of sweeping legislation to rewrite the nation's immigration laws, during a news conference at the Capitol in Washington, Monday, Jan. 28, 2013. From left are Sen. John McCain, R-Ariz., Sen. Charles Schumer, D-N.Y., Sen. Marco Rubio, R-Fla., and Sen. Robert Menendez, D-N.J. The deal covers border security, guest workers and employer verification, as well as a path to citizenship for the 11 million illegal immigrants already in this country. (AP Photo/J. Scott Applewhite)
Sen. Marco Rubio, R-Fla.. center, answers a reporter's question as he and a bipartisan group of leading senators announce that they have reached agreement on the principles of sweeping legislation to rewrite the nation's immigration laws, during a news conference at the Capitol in Washington, Monday, Jan. 28, 2013. From left are Sen. John McCain, R-Ariz., Sen. Charles Schumer, D-N.Y., Sen. Marco Rubio, R-Fla., and Sen. Robert Menendez, D-N.J. The deal covers border security, guest workers and employer verification, as well as a path to citizenship for the 11 million illegal immigrants already in this country. (AP Photo/J. Scott Applewhite)
WASHINGTON (AP) ? Seeking swift action on immigration, President Barack Obama on Tuesday will try to rally public support behind his proposals for giving millions of illegal immigrants a pathway to citizenship, as well as making improvements to the legal immigration system and border security.
The president will launch his push in a campaign-style event in Las Vegas, a day after a bipartisan group of senators unveiled their own plan for addressing an issue that has languished in Washington for years.
Administration officials said Obama would largely endorse the senators' efforts, though immigration advocates said they expected the president's own proposals to be more progressive than the Senate group's plan, including a faster pathway to citizenship.
The simultaneous immigration campaigns were spurred by the November presidential election, in which Obama won an overwhelming majority of Hispanic voters. The results caused Republican lawmakers who had previously opposed immigration reform to reconsider in order to rebuild the party's reputation among Hispanics, an increasingly powerful political force.
Most of the recommendations Obama will make Tuesday are not new. He outlined an immigration blueprint in May 2011 but exerted little political capital to get it passed by Congress, to the disappointment of many Hispanics.
Obama "believes that we are at a moment now where there seems to be support coalescing at a bipartisan level behind the very principles that he has long put forward and behind principles that have in the past enjoyed bipartisan support," White House press secretary Jay Carney said Monday. "And that is a very positive thing."
The president was to make his pitch in Nevada, a political battleground he carried in November, in large part because of support from Hispanics in the state.
Nationally, Obama won 71 percent of the Hispanic vote, giving him a key advantage over Republican rival Mitt Romney.
Administration officials said the president would bolster his 2011 immigration blueprint with some fresh details. His original plan centered on four key areas: a pathway to citizenship for the 11 million illegal immigrants in the U.S., improved border security, an overhaul of the legal immigration system, and an easier process for businesses to verify the legal status of workers.
Administration officials said they were encouraged to see the Senate backing the same broad principles. In part because of the fast action on Capitol Hill, Obama does not currently plan to send lawmakers formal immigration legislation.
However, officials said the White House does have legislation drafted and could fall back on it should the Senate process stall. The officials spoke on the condition of anonymity in order to discuss internal strategy.
Gay and lesbian advocates were also expecting Obama's proposals to include recognition of same-sex couples where one partner is American and another is not.
Sen. John McCain called the issue a "red flag" in an interview Tuesday on "CBS This Morning."
The Arizona Republican also said he didn't think the issue was of "paramount importance at this time."
"We'll have to look at it," McCain said. But he added that the highest priority is finding a "broad consensus" behind the immigration bill already being planned. He said the country must do something about 11 million people "living in the shadows."
Obama's previous proposals for creating a pathway to citizenship required those already in the U.S. illegally to register with the government and submit to security checks; pay registration fees, a series of fines and back taxes; and learn English. After eight years, individuals would be allowed to become legal permanent residents and could eventually become citizens five years later.
The Senate group's pathway to citizenship for illegal immigrants already in the U.S. would be contingent upon securing the border and improving tracking of people in the U.S. on visas. Linking citizenship to border security could become a sticking point between the White House and lawmakers.
The Senate framework would also require those here illegally to pass background checks and pay fines and taxes in order to qualify for a "probationary legal status" that would allow them to live and work here ? but not qualify for federal benefits ? before being able to apply for permanent residency, a critical step toward citizenship. Once they are allowed to apply they would do so behind everyone else already waiting for a green card within the current immigration system.
Passage of legislation by the full Democratic-controlled Senate is far from assured, but the tallest hurdle could come in the House, which is dominated by conservative Republicans who've shown little interest in immigration reform.
The senators involved in formulating the immigration proposals, in addition to McCain, are Democrats Charles Schumer of New York, Dick Durbin of Illinois, Robert Menendez of New Jersey and Michael Bennet of Colorado; and Republicans Lindsey Graham of South Carolina, Marco Rubio of Florida and Jeff Flake of Arizona.
Several of these lawmakers have worked for years on the issue. McCain collaborated with the late Democratic Sen. Edward M. Kennedy on comprehensive immigration legislation pushed by then-President George W. Bush in 2007, only to see it collapse in the Senate when it couldn't get enough GOP support.
___
Associated Press writer Erica Werner contributed to this report.
___
Follow Julie Pace at http://twitter.com/jpaceDC
Associated Pressoakland raiders Jessica Lange NFL scores week 3 kat dennings Steve Sabol Yom Kippur 2012 Aaron Paul
Stick Time: Home-Schooler in the Choir - ChoralNet
Date: January 28, 2013
by Scott Dorsey
Views: 249
Bring up the topic of home-schooling among a group of educators and you can be assured of a vibrant discussion.? A study by the National Home Education Research Institute (NHERI) estimates that in the spring of 2010, there were more than two million home-schooled students, K through 12.? That accounts for about four percent of our school-aged population.?
As choral music educators, we are eager to provide access to our art for as many students as possible within our respective schools.? How can a home-school student experience the same level of music education available to a child in a traditional educational environment?
?
Among several possible ways to provide a choral music experience to home-school students is through a community youth choir.? There are many such excellent community youth choral programs in cities throughout the U.S.; including this choir ? the Concord Vocal Ensemble - featured at a recent ACDA Divisional Conference.?
Source: http://www.choralnet.org/view/409469
sassafras mardi gras 2012 the secret world of arrietty cee lo allen iverson jr smith chris anderson
Lock your Financial Deficiency with Unsecured Loan ? jasper2013
Presently, loan has become the primary medium to survive their day-to-day life. In UK most of them apply for some or the other loans when they lack in hard cash to fulfil his needs. To fight from this situation one has to take the advantage of loan. But choosing the right loan for sudden financial emergency is a tough one and this is very essential for future financial plans. You may be in search of Quick heal for the temporary financial emergency.
Unsecured loans can do a lot when you are in urgent need of hard cash as these loans are available in plenty. There are several online lender available before apply evaluate the requirements of cash this will save time and money. The eligibility criteria are least and compact to qualify but it becomes tough to obtain approval when you are not able to meet the criteria.
If you are facing an urgent need of cash and are not to assemble ample amount from anywhere then don?t hesitate. Unsecured loans are the loans which suits the best for your needs. The funds are accessible easily without any hassles. It may be difficult for person to control his daily expenditure with the fixed monthly salary and some time the expenses runs out of our reach. Getting an unsecured loan will help to flee your present finance troubles and lend you handsome funds to cover your debits.
Gaining a loan is not permanent remedy for all problems; it is just a temporary solution for the financial difficulties. Unsecured loans is truly a solution when you are in need of urgent cash but if you fail to repay the loan then this will affect you adversely for your future plans. Because of the high interest rates of this loan, if you miss your repayment terms then this would trouble you a lot. It is always better that when you acquire loan of high interest rate make your payments on time and manage you finance with proper plans otherwise this unpaid bills will mess up and will mount into a critical condition.
Unsecured loans will be the appropriate loans to fix your problems. There are lots of online lenders available to provide you these financial solutions as this are available in instant time and in high interest rates compared to that of other traditional loans. This loan is available without any collateral but if you miss your repayment then the lender is capable to take on the actions to cover the loan amount and you may face the serious problems.
So, it is always better to plan your finance and keep the search on top for the best deal which can bring loan-term benefits for your finance and light up your future.
Jasper Smith is the author of this article. He has written many article for the people of UK by convening them about how to avail loans and use them. He has experienced of about 2-3 years for writing the article.. For more information such as unsecured loan, bad credit unsecured loans, fast unsecured cash loans, unsecured loan for bad credit people and visit Unsecured Loan Company.
Like this:
Be the first to like this.
Author: jasper2013
Master of Science (MSc), International Banking and Finance from London Metropolitan University.
Source: http://jasper2013.wordpress.com/2013/01/28/lock-your-financial-deficiency-with-unsecured-loan/
London 2012 shot put London 2012 Track And Field Jordyn Wieber michael phelps Kerri Strug Ledecky Nadia Comaneci
Monday, January 28, 2013
Switched On: PixelSense without the premium
Each week Ross Rubin contributes Switched On, a column about consumer technology.
Amid all the origami variations of the PC at CES this year -- things that swiveled, folded, docked and rotated around their hinges -- one of the more intriguing form factor variations came not from a twist on the classic clamshell, insurgent slate or a hybrid of the two. Rather, it was a variation of the desktop via the all-in-one, one of the few of that embryonic breed known as table PCs courtesy of the Lenovo IdeaCentre Horizon.
Table PCs entered a broader collective consciousness in 2007 when Microsoft introduced Surface (a name it would later repurpose for its tablet line). A chunky, waist-high device that married a Windows PC with a 30-inch projection display and five embedded cameras, the original Surface offered an integrated multi-touch experience without a touchscreen.
Surface was capable of interaction with other devices that seemed magical, especially without using NFC. Place a marked glass on top of it and it could tell you the ingredients in the cocktail it contained. Place a WiFi-enabled camera on it and the photos would appear to spill out onto the screen, ready to be freely flipped, rotated, stretched and easily converted into emails via a simple postcard creation feature.
Alas, at about $10,000 and with most consumers already having a coffee table, Surface was too pricey for consumers. Mocked as a "big-ass table" in a parody video, it was relegated to a few hotels, casinos, AT&T stores and other public places. Prior to the release of the Surface tablet, Microsoft recreated the table-based incarnation using flat-panel technology. Samsung offers that product as the 40-inch SUR40 with Microsoft PixelSense. With a street price of about $8,000, it retains the ability to handle more than 50 touch points and interact with real-world objects.
Starting at around $1,699, though, the Lenovo IdeaCentre Horizon promises to deliver much of the Surface experience at a consumer price. Unlike the original Surface, it is practical to use as a regular Windows 8 all-in-one desktop. Snap in the stand and lay it flat, though, and you can take advantage of a Lenovo app store that includes optimized games and other media-centric apps for the device. They are very much in the spirit of those early Surface apps.
Moving to a device the size of the Horizon forces one to give up the kind of orientation features one takes for granted in today's smartphones and tablets.
A good example of how this works is with the classic board game Monopoly, an engaging version of which has been created for the iPad. But putting that same experience on the Horizon really opens it up to multiplayer interaction in a way that the tablet-driven experience cannot. You can see the whole board during everyone's turns. Air hockey comes closer to approximating the actual experience (although there was some controller lag in the version shown at CES).
Just as the iPad's larger palette enabled experiences that were either inferior or impossible on the iPhone, the same can be said for Horizon versus the iPad. This is especially true for multiuser experiences, a novelty in the realm of personal touch devices. That said, moving to a device the size of the Horizon forces one to give up the kind of orientation features one takes for granted in today's smartphones and tablets. With Horizon you don't rotate the tablet; you rotate around it.
Horizon is not the first time Lenovo has been led down the sometimes challenging path of creating its own app store; it rolled its own for TV apps when it introduced its Android-based smart TV (not available in the US) at last year's CES. Indeed, yet another challenge that 2007's Surface faced was competing for developer mindshare with Apple's iPhone. But just as modern Windows 8 dockable tablets or convertibles reduce risk for the PC manufacturer by serving as a PC as well as a tablet, Lenovo can fall back on the Horizon's use as a large all-in-one with normal viewing angles and keyboard input if optimized apps don't take off. It's low table stakes for a table PC.
Ross Rubin is principal analyst at Reticle Research, a research and advisory firm focusing on consumer technology adoption. He shares commentary at Techspressive and on Twitter at @rossrubin.
Source: http://www.engadget.com/2013/01/27/pixelsense-without-the-premium/
matthew broderick tax refund calculator huntington disease west memphis three taxes game of thrones season 2 trailer sag award winners
5 large peculiar effectiveness of green tea | Health and Fitness Tips ...
The effectiveness of green tea, along the following:
1, Weight-loss reduce fat: green tea rich theophylline and caffeine, many effects via activation of protein kinase and triglyceride lipase to reduce the accumulation of fat cells, and thus arrive slimming effectiveness.
2, Prevention of dental caries, clear bad breath: green tea rich fluorinated meantime catechins can inhibit the effect of cariogenic bacteria, reducing plaque and periodontitis onset. Tea contains tannic acid, has a sterilizing effect, crumbs of food residue can hinder the proliferation of bacteria, it can be useful to prevent bad breath.
3, Anti-cancer: green tea inhibit the effect of certain cancers, but its principles are limited inference time. Episodes of anti-cancer, more tea must be the effect of positive encouragement.
4, Whitening and anti-UV effect: professors found in animal studies, green tea catechins resistant to UV-B induced skin cancer.
5, Improve indigestion status: discussion show, green tea can help improve the situation of indigestion, for example by the bacteria causing acute diarrhea, drink a little green tea to alleviate the condition.
Tags: effectiveness of green tea, green teaThis entry was posted on Sunday, January 27th, 2013 and is filed under Health Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Source: http://www.hhtip.com/5-large-peculiar-effectiveness-of-green-tea/
jessie j jessie j David Boudia David Rakoff Bourne Legacy Chad Johnson London 2012 Soccer
Sunday, January 27, 2013
NIH should retire most chimpanzees from medical research, panel says (+video)
Hundreds of chimpanzees at NIH facilities should no longer be used as test subjects, the panel said, but 50 should be kept as a contingency, adding that all the chimps should be housed more comfortably.
Ron, featured in the film 'Chimpanzees: An Unnatural History', was born in a research lab and spent most of his life in isolation. Subsequently, he went to live at the Save the Chimps sanctuary in Ft. Pierce, Florida.
Courtesy of Save the Chimps /PBS
EnlargeA senior scientific advisory panel at the National Institutes of Health, in a step toward phasing out the use of chimpanzees in federally funded medical research,?has found "no compelling evidence" to support keeping hundreds of chimpanzees at NIH facilities and recommends that all but about 50 chimps be retired.
Skip to next paragraph' +
google_ads[0].line2 + '
' +
google_ads[0].line3 + '
Subscribe Today to the Monitor
This small group would remain available as a contingency should some unforeseen disease emerge for which chimps would be the best stand-ins for humans. But they, along with the retirees, would be housed in facilities designed to more adequately accommodate the full range of normal chimp physical and social activities ? from climbing, foraging, and daily nest-building to hanging out in sizable groups on branches high off the ground, according to the panel.
The panel also recommends ending 16 of 30 research projects involving chimpanzees that the NIH currently is funding. The largest proportional hit falls on biomedical research, one of three categories of projects. Six out of nine current biomedical projects would end.
The ultimate driver behind the recommendations: concerns about the value and ethics of using chimpanzees, biologically the nearest relative to humans, for physically painful and intrusive infectious-disease research.
If the 28 recommendations are implemented, the effort would represent "an historic step forward" in moving chimps out of the lab and into sanctuaries, says Kathleen Conlee, vice-president for animal-research issues at the Humane Society of the United States, based in Washington.
Even foes of federal legislation to greatly restrict the use of chimps and other "great apes" in biomedical research see merit in the new recommendations.
As a stand-in for humans, "the chimpanzee has played a very important role in the evolution of biomedical research," notes Frankie Trull, president of the National Association for Biomedical Research (NABR) in Washington, which fought against the Great Apes Protection and Cost Reduction Act of 2011, which died in December with the end of the 113th Congress.
But biomedical science has advanced, Ms. Trull continues. And keeping chimpanzees is expensive; chimps are not euthanized but must be cared for until they die naturally. Researchers have found alternative animal models for some of the kinds of studies that once centered on chimps.
Although NABR opposed the Great Ape Protection and Cost Reduction Act, the group is comfortable with the recommendations the NIH is now considering, Trull says.
The case for change and the steps to take came from the scientific community, she observes, adding, "scientists should determine what animal models should be used, not Congress."
Chimpanzees represent a tiny proportion of animals used in biomedical research. The overwhelming majority of animals used are either rodents or zebra fish.
The recommendations represent the outcome of a process that began at the end of 2010, when three US senators asked the US National Academies to examine the issue, as did the NIH. A year later, the National Academies' Institute of Medicine released its report.
The 86-page report released for comment on Jan. 22 was pulled together by a senior working group that the NIH gathered to turn the Institute of Medicine's report into specific recommendations.
If adopted, the recommendations would apply only to NIH-owned chimps and those used in the course of NIH-funded research. Of 670 chimps the NIH owns or supports, 219 have been retired. Some 282 are research-ready. Another 169 have been labeled "research inactive," a kind of bridge category between the first two.
By some estimates, another 350 chimps would fall outside the purview of these recommendations because they are owned either by private pharmaceutical companies or by universities.
Indeed, the Human Society's Ms. Conlee suggests the Great Ape Protection Act is likely to be reintroduced this year to broaden restrictions to chimps not covered by the new recommendations.
CES russell wilson Pokemon downton abbey nhl jillian michaels Freddy E
Professional Heating and Cooling Maintenance
Selecting a skilled professional who uses the quality materials and understands heating and AC system is the most important thing if you need repairs for these systems. There are many types of furnaces that all have different parts and functions. Depending on your home and location, your utility bill and home temperature can improve greatly if you purchase an appropriate furnace. Cooling systems are also very different and it is essential to purchase a system that is the most effective. When you meet with a heating and air conditioning professional, they will analyze your situation and help select the system that best meets your needs. These specialists can also handle all varieties of repairs on these systems. Notice a large change in your year-round comfort with professional heating and air conditioning specialists by your side.
Source: http://www.cretique.com/professional-heating-and-cooling-maintenance/
the parent trap invisible children kony 2012 space weather sunspots pac 12 tournament sun storm tri
Casey Anthony files for bankruptcy in Florida
FILE - In this July 7, 2011 file photo, Casey Anthony smiles before the start of her sentencing hearing in Orlando, Fla. A Florida appellate court on Friday, Jan. 25, 2012 set aside two of the four convictions Anthony faced for lying to detectives during the investigation into her missing 2-year-old daughter, Caylee. Anthony was acquitted of killing Caylee in 2011. Jurors convicted her of four counts of lying to detectives, and her attorneys appealed those convictions. Anthony was sentenced to time served for the misdemeanors. Judges on the 5th District Court of Appeals agreed with Anthony's attorneys that two of the charges constituted double jeopardy, or being convicted more than once for the same crime. (AP Photo/Joe Burbank, Pool, File)
FILE - In this July 7, 2011 file photo, Casey Anthony smiles before the start of her sentencing hearing in Orlando, Fla. A Florida appellate court on Friday, Jan. 25, 2012 set aside two of the four convictions Anthony faced for lying to detectives during the investigation into her missing 2-year-old daughter, Caylee. Anthony was acquitted of killing Caylee in 2011. Jurors convicted her of four counts of lying to detectives, and her attorneys appealed those convictions. Anthony was sentenced to time served for the misdemeanors. Judges on the 5th District Court of Appeals agreed with Anthony's attorneys that two of the charges constituted double jeopardy, or being convicted more than once for the same crime. (AP Photo/Joe Burbank, Pool, File)
FILE - In this July 7, 2011 file photo, Casey Anthony smiles before the start of her sentencing hearing in Orlando, Fla. A Florida appellate court on Friday, Jan. 25, 2012 set aside two of the four convictions Anthony faced for lying to detectives during the investigation into her missing 2-year-old daughter, Caylee. Anthony was acquitted of killing Caylee in 2011. Jurors convicted her of four counts of lying to detectives, and her attorneys appealed those convictions. Anthony was sentenced to time served for the misdemeanors. Judges on the 5th District Court of Appeals agreed with Anthony's attorneys that two of the charges constituted double jeopardy, or being convicted more than once for the same crime. (AP Photo/Joe Burbank, File)
TAMPA, Fla. (AP) ? Casey Anthony filed for bankruptcy in Florida on Friday, claiming about $1,100 in assets and $792,000 in liabilities.
Court records show that Anthony, who was acquitted of killing her 2-year-old daughter Caylee in 2011, filed for Chapter 7 bankruptcy in federal court in Tampa.
Her listed debts include $500,000 for attorney fees and costs for her criminal defense lawyer during the trial, Jose Baez; $145,660 for the Orange County Sheriff's office for a judgment covering investigative fees and costs; $68,540 for the Internal Revenue Service for taxes, interest and penalties; and $61,505 for the Florida Department of Law Enforcement for court costs.
The filling also states that she is a defendant in several civil suits, including one brought by Zenaida Fernandez-Gonzalez for defamation in Orange County Circuit Court.
Fernandez-Gonzalez claims she was damaged by Anthony telling detectives that a baby sitter by the same name kidnapped Caylee. The detectives were investigating the 2008 disappearance of the girl, who later was found dead. Anthony's attorney said details offered by Anthony did not match Fernandez-Gonzalez and clearly showed Anthony wasn't talking about her.
Court papers list Anthony as unemployed.
An attorney for Anthony, David Schrader, did not immediately respond to messages from the Associated Press.
The filing came on the same day that a Florida appellate court set aside two of the four convictions she faced for lying to detectives during the investigation into her missing daughter.
Though Anthony was acquitted of killing Caylee, jurors convicted her of four counts of lying to detectives, and her attorneys appealed those convictions. Anthony was sentenced to time served for the misdemeanors.
She was sentenced to a year of probation after her release from jail for an unrelated case. For her protection, her whereabouts have been kept secret since she was released from state supervision last year.
Associated Pressleprechaun night at the museum pope shenouda bolton muamba sxsw crystal cathedral st. patrick s day
Saturday, January 26, 2013
Geo Vision's New Performance Enhancement Products for Men and ...
BERRYVILLE, Va., Jan. 25, 2013 /PRNewswire/ ? Eagle Financial Services, Inc. (OTC BULLETIN BOARD: EFSI), the holding company for Bank of Clarke County, whose divisions include Eagle Investment Group, announces its 2012 fourth quarter and?record annual profits.? The Company?s common stock is listed for trading on the Over-the-Counter (OTC) Bulletin Board under the ticker symbol EFSI.
Fourth Quarter and Annual 2012 Highlights:
John R. Milleson, President and CEO, stated, ?We are pleased to report two exciting accomplishments during 2012: the Company produced record profits for the year and continued its streak of consecutive dividend increases, a streak unmatched by most financial institutions.? The 2012 dividend of $0.73 per share was the 26th consecutive year of a dividend increase for the Company.? The year?s record earnings were primarily a result of a very steady and strong net interest margin of 4.47% and lower loan loss provisions.? That level of core earnings afforded the Company the ability to aggressively manage its non-performing assets as well as begin an expansion east into Loudoun County.? The Bank?s twelfth retail branch is currently under construction at 203 Hirst Road in Purcellville, Virginia and will open in April 2013. To branch at a time when many banks are contracting is a strategic initiative of which we want to take full advantage.?
Income Statement Review
Net income for the quarter ended December 31, 2012 was $1.6 million reflecting an increase of 128.1% from the quarter ended December 31, 2011.? Net income was $6.5 million for the year ended December 31, 2012 which represented an increase of 51.5% when compared to net income for the same period in 2011. These increases resulted mostly from reduced interest costs and loan loss provisions.
Net interest income for the quarter ended December 31, 2012 was $5.7 million, which represented a decrease of 3.3% when compared to $5.9 million for the same period in 2011.? Net interest income for the year ended December 31, 2012 was $23.2 million which represented an increase of 1.8% when compared to $22.8 million in 2011.? This increase in net interest income for the year resulted mostly from the decline in the Company?s funding costs.??
Total loan interest income was $5.5 million for the quarter ended December 31, 2012, reflecting a decrease of $305,000 from the quarter ended December 31, 2011.? Total loan interest income was $22.6 million for the year ended December 31, 2012, reflecting a decrease of $440,000 from the year ended December 31, 2011.? Average loans for the quarter ended December 31, 2012 were $420.2 million compared to $409.1 million for the same period in 2011.? Average loans for the year ended December 31, 2012 were $420.8 million compared to $405.8 million for 2011.? The tax equivalent yield on average loans for the quarter ended December 31, 2012 was 5.26%, down 43 basis points from the same time period in 2011.? The tax equivalent yield on average loans for the year ended December 31, 2012 was 5.39%, down 31 basis points from 2011.? Interest income from the investment portfolio was $933,000 thousand for the quarter ended December 31, 2012, reflecting a decrease of 15.6% when compared to $1.1 million for the same period in 2011. Interest income from the investment portfolio was $4.0 million for the year ended December 31, 2012 and $4.5 million for? 2011.?
Total interest expense was $814,000 for the three months ended December 31, 2012 and $1.1 million for three months ended December 31, 2011. Total interest expense for the year ended December 31, 2012 was $3.4 million, representing a decrease of $1.4 million or 29.6% from the year ended December 31, 2011. The average cost of interest bearing liabilities decreased 23 basis points when comparing the quarter ended December 31, 2012 to the same time period in 2011.? The average cost of interest bearing liabilities decreased 31 basis points when comparing the year ended December 31, 2012 to the same time period in 2011.? The average balance of interest bearing liabilities decreased $17.4 million from the quarter ended December 31, 2011 to the same period in 2012.? The average balance of interest bearing liabilities decreased $19.9 million from the year ended December 31, 2011 to the same period in 2012. The decline in interest bearing liabilities for both periods resulted from maturities of wholesale borrowings and time deposits.
The net interest margin was 4.31% for the quarter ended December 31, 2012.? When compared to the quarter ended December 31, 2011, the net interest margin decreased 16 basis points. The net interest margin was 4.47% for the year ended December 31, 2012.? When compared to the year ended December 31, 2011, the net interest margin increased seven basis points. This increase was attributable to the decreased cost of interest bearing liabilities.
The Company?s net interest margin is not a measurement under accounting principles generally accepted in the United States, but it is a common measure used by the financial services industry to determine how profitably earning assets are funded. The Company?s net interest margin is calculated by dividing tax equivalent net interest income by total average earning assets. Tax equivalent net interest income is calculated by grossing up interest income for the amounts that are non-taxable (i.e., municipal income) then subtracting interest expense. The tax rate utilized is 34%.
Noninterest income was $1.5 million for the quarter ended December 31, 2012 and $1.3 million for the same period in 2011.? Noninterest income was $6.1 million for the year ended December 31, 2012 and $5.9 million for the same period in 2011. Increases in service release premiums received from secondary market mortgage activity were the largest contributor to the year?s increase in noninterest income. Noninterest expense was $5.0 million for the quarter ended December 31, 2012 and $5.5 million for the quarter ended December 31, 2011. Noninterest expense was $18.5 million and $19.3 million for the years ended December 31, 2012 and 2011, respectively.??The majority of the decrease in noninterest expense resulted from a one-time adjustment to FDIC assessment expense.? The Company determined that the balance of the Company?s prepaid FDIC insurance was too low and as a result made a $199,000 adjustment to increase the prepaid balance and decrease the corresponding expense in the quarter ended June 30, 2012. ?Decreases in other operating expenses relate to the Company?s efforts to improve efficiency by diligently managing and monitoring its operating expenses.
Asset Quality and Provision for Loan Losses
Provisions for loan losses were $10,000 for the three months ended December 31, 2012, compared to $900,000 for the quarter ended December 31, 2011. Provisions for loan losses were $1.7 million for the year ended December 31, 2012, compared to $3.8 million for the year ended December 31, 2011. The ratio of allowance for loan losses to total loans was 1.57% at December 31, 2012 and 2.13% at December 31, 2011.? The ratio of allowance for loan losses to total nonaccrual loans was 272.5% at December 31, 2012 and 357.0% at December 31, 2011.? The amount of provision for loan losses reflects the results of the Bank?s analysis used to determine the adequacy of the allowance for loan losses.? The decreased provision for the quarter and the year mostly resulted from the decrease in the amount of specific allocations required for impaired loans. During the year, several impaired loan balances were partially charged off while others had been completely charged off and moved to other real estate owned.? At December 31, 2012, impaired loans totaled $15.3 million and had related specific allocations of $2.4 million.? At December 31, 2011, impaired loans totaled $19.9 million and had related specific allocations of $4.2 million.
Nonperforming assets increased slightly from $5.0 million or 0.87% of total assets at December 31, 2011 to $5.6 million or 0.94% of total assets at December 31, 2011. This increase resulted mostly from the increase in other real estate owned. Several loans had been charged off and moved to other real estate owned during the year, including two large commercial real estate loans whose collateral was valued at $853,000 at December 31, 2012.
Total nonaccrual loans totaled $2.4 million at December 31, 2012 and 2011.? During the fourth quarter of 2012, the Bank placed one loan totaling $230,000 on nonaccrual status. Although this loan is unsecured, the majority of the Bank?s other nonaccrual loans are secured by real estate.? Management evaluates the financial condition of these borrowers and the value of any collateral on these loans.? The results of these evaluations are used to estimate the amount of losses which may be realized on the disposition of these nonaccrual loans.? Loans greater than 90 days past due and still accruing increased from $94,000 at December 31, 2011 to $208,000 at December 31, 2012.
The Company realized $1.4 million in net charge-offs for the quarter ended December 31, 2012 versus $48,000 for the same period in 2011. The Company realized $3.8 million in net charge-offs for the year ended December 31, 2012 versus $2.1 for 2011. The 2012 loan charge offs were concentrated in larger balance commercial real estate loans while the 2011 loan charge offs were concentrated in residential real estate. ?The Company continues to operate a troubled credit group to monitor past due loans, identify potential problem credits, and develop action plans to work through its troubled loans as promptly as possible. ?Asset quality remains a primary concern of the Company. Necessary resources continue to be devoted to the ongoing review of the loan portfolio and the workouts of problem assets to minimize any losses to the Company. Management will continue to monitor delinquencies, risk rating changes, charge-offs, market trends and other indicators of risk in the Company?s portfolio, particularly those tied to residential and commercial real estate, and adjust the allowance for loan losses accordingly.
Total Consolidated Assets
Total consolidated assets of the Company at December 31, 2012 were $593.3 million, which represented an increase of $25.3 million or 4.5% from total assets of $568.0 million at December 31, 2011.? Total loans increased $7.7 million from $410.4 million at December 31, 2011 to $418.1 million at December 31, 2012.? Considering the continued low interest rate and competitive market environment, the Company has been conscientious about maintaining both its underwriting standards and its net interest margin and thereby cautious about the growth it has accepted in the loan portfolio.
Deposits and Other Borrowings
Total deposits, which include brokered deposits, increased $28.6 million to $477.1 million at December 31, 2012 from $448.5 million at December 31, 2011. The Company held $9.9 million in brokered deposits at December 31, 2012 and 2011.?
Securities sold under agreement to repurchase were $10.0 million at December 31, 2012 and 2011. Borrowings with the Federal Home Loan Bank of Atlanta were $32.3 million at December 31, 2012 and $42.3 million at December 31, 2011.
Equity
Shareholders? equity was $63.7 million at December 31, 2012 and $58.1 million at December 31, 2011. The book value of the Company at December 31, 2012 was $19.11 per common share. Total common shares outstanding were 3,352,523 at December 31, 2012.? On January 16, 2013, the board of directors declared a $0.19 per common share cash dividend for shareholders of record as of January 28, 2013 and payable on February 15, 2013.
Certain information contained in this discussion may include ?forward-looking statements? within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to the Company?s future operations and are generally identified by phrases such as ?the Company expects,? ?the Company believes? or words of similar import. Although the Company believes that its expectations with respect to the forward-looking statements are based upon reliable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. For details on factors that could affect expectations, see the risk factors and other cautionary language included in the Company?s Annual Report on Form 10-K for the year ended December 31, 2011, and other filings with the Securities and Exchange Commission.
| EAGLE FINANCIAL SERVICES, INC. | ||||||||||
| KEY STATISTICS | For the Three Months Ended | |||||||||
| 4Q12 | 3Q12 | 2Q12 | 1Q12 | 4Q11 | ||||||
| Net Income (dollars in thousands) | $ ? ? ? ? ?1,581 | $ ? ? ? ? ?1,253 | $ ? ? ? ? ?2,002 | $ ? ? ? ? ?1,714 | $ ? ? ? ? ? ? 693 | |||||
| Earnings per share, basic | $ ? ? ? ? ? ?0.47 | $ ? ? ? ? ? ?0.38 | $ ? ? ? ? ? ?0.60 | $ ? ? ? ? ? ?0.52 | $ ? ? ? ? ? ?0.21 | |||||
| Earnings per share, diluted | $ ? ? ? ? ? ?0.47 | $ ? ? ? ? ? ?0.37 | $ ? ? ? ? ? ?0.60 | $ ? ? ? ? ? ?0.25 | $ ? ? ? ? ? ?0.21 | |||||
| Return on average total assets | 1.08% | 0.88% | 1.43% | 1.23% | 0.48% | |||||
| Return on average total equity | 9.95% | 8.01% | 13.29% | 11.74% | 4.76% | |||||
| Dividend payout ratio | 40.43% | 47.37% | 30.00% | 34.62% | 85.71% | |||||
| Fee revenue as a percent of total revenue | 20.32% | 20.40% | 20.26% | 19.18% | 18.53% | |||||
| Net interest margin(1) | 4.31% | 4.40% | 4.60% | 4.56% | 4.47% | |||||
| Yield on average earning assets | 4.91% | 5.01% | 5.23% | 5.25% | 5.28% | |||||
| Yield on average interest-bearing liabilities | 0.83% | 0.85% | 0.87% | 0.94% | 1.07% | |||||
| Net interest spread | 4.08% | 4.16% | 4.36% | 4.31% | 4.21% | |||||
| Tax equivalent adjustment to net interest income (dollars in thousands) | $ ? ? ? ? ? ? 198 | $ ? ? ? ? ? ? 200 | $ ? ? ? ? ? ? 207 | $ ? ? ? ? ? ? 212 | $ ? ? ? ? ? ? 214 | |||||
| Non-interest income to average assets | 1.05% | 1.09% | 1.12% | 1.06% | 0.88% | |||||
| Non-interest expense to average assets | 3.41% | 3.20% | 3.12% | 3.31% | 3.73% | |||||
| Efficiency ratio(2) | 60.91% | 61.36% | 56.96% | 61.43% | 72.60% | |||||
| (1)??The net interest margin is calculated by dividing tax equivalent net interest income by total average earning assets. Tax equivalent interest income is calculated by grossing up interest income for the amounts that are non taxable (i.e., municipal income) then subtracting interest expense. The rate utilized is 34%. See the table below for the quarterly tax equivalent net interest income and the reconciliation of net interest income to tax equivalent net interest income. The Company?s net interest margin is a common measure used by the financial service industry to determine how profitable earning assets are funded. Because the Company earns a fair amount of non taxable interest income due to the mix of securities in its investment security portfolio, net interest income for the ratio is calculated on a tax equivalent basis as described above. | ||||||||||
| (2)? The efficiency ratio is not a measurement under accounting principles generally accepted in the United States. It is calculated by dividing non-interest expense by the sum of tax equivalent net interest income and non-interest income excluding gains and losses on the investment portfolio and sales of repossessed assets. The tax rate utilized is 34%. See the table below for the quarterly tax equivalent net interest income and a reconciliation of net interest income to tax equivalent net interest income. The Company calculates this ratio in order to evaluate its overhead structure or how effectively it is operating. An increase in the ratio from period to period indicates the Company is losing a larger percentage of its income to expenses. The Company believes that the efficiency ratio is a reasonable measure of profitability. | ||||||||||
????????
| EAGLE FINANCIAL SERVICES, INC. | ||||||||||
| SELECTED FINANCIAL DATA BY QUARTER | ||||||||||
| 4Q12 | 3Q12 | 2Q12 | 1Q12 | 4Q11 | ||||||
| BALANCE SHEET RATIOS | ||||||||||
| Loans to deposits | 87.63% | 93.51% | 94.36% | 92.92% | 91.52% | |||||
| Average interest-earning assets to | ||||||||||
| ??? average-interest bearing liabilities | 139.30% | 139.84% | 138.63% | 136.42% | 132.72% | |||||
| PER SHARE DATA | ||||||||||
| Dividends | $ ? ? ? ? ? ?0.19 | $ ? ? ? ? ? ?0.18 | $ ? ? ? ? ? ?0.18 | $ ? ? ? ? ? ?0.18 | $ ? ? ? ? ? 0.18 | |||||
| Book value | $ ? ? ? ? ?19.11 | $ ? ? ? ? ?18.78 | $ ? ? ? ? ?18.47 | $ ? ? ? ? ?18.05 | $ ? ? ? ? 17.67 | |||||
| Tangible book value | $ ? ? ? ? ?19.11 | $ ? ? ? ? ?18.78 | $ ? ? ? ? ?18.47 | $ ? ? ? ? ?18.05 | $ ? ? ? ? 17.67 | |||||
| SHARE PRICE DATA | ||||||||||
| Closing price | $ ? ? ? ? ?22.00 | $ ? ? ? ? ?21.50 | $ ? ? ? ? ?20.10 | $ ? ? ? ? ?20.75 | $ ? ? ? ? 16.81 | |||||
| Diluted earnings multiple(1) | 11.70 | 14.53 | 8.38 | 9.98 | 20.01 | |||||
| Book value multiple(2) | 1.15 | 1.15 | 1.09 | 1.15 | 0.95 | |||||
| COMMON STOCK DATA | ||||||||||
| Outstanding shares at end of period | 3,352,523 | 3,344,737 | 3,337,251 | 3,320,600 | 3,300,692 | |||||
| Weighted average shares outstanding | 3,348,630 | 3,341,050 | 3,326,999 | 3,316,005 | 3,305,189 | |||||
| Weighted average shares outstanding, diluted | 3,359,611 | 3,352,337 | 3,337,114 | 3,321,687 | 3,312,290 | |||||
| CAPITAL RATIOS | ||||||||||
| Total equity to total assets | 10.74% | 10.94% | 10.83% | 10.64% | 10.23% | |||||
| CREDIT QUALITY | ||||||||||
| Net charge-offs to average loans | 0.33% | 0.40% | 0.13% | 0.04% | 0.01% | |||||
| Total non-performing loans to total loans | 0.63% | 1.19% | 0.43% | 0.59% | 0.62% | |||||
| Total non-performing assets to total assets | 0.94% | 1.30% | 0.71% | 0.94% | 0.87% | |||||
| Non-accrual loans to: | ||||||||||
| ????? total loans | 0.58% | 1.19% | 0.39% | 0.48% | 0.60% | |||||
| ????? total assets | 0.41% | 0.89% | 0.30% | 0.36% | 0.43% | |||||
| Allowance for loan losses to: | ||||||||||
| ????? total loans | 1.57% | 1.86% | 2.01% | 2.13% | 2.13% | |||||
| ???? non-performing assets | 118.38% | 16.64% | 213.78% | 168.99% | 176.06% | |||||
| ???? non-accrual loans | 272.45% | 156.37% | 509.93% | 445.46% | 357.00% | |||||
| NON-PERFORMING ASSETS: | ||||||||||
| (dollars in thousands) | ||||||||||
| ??? Loans delinquent over 90 days | $ ? ? ? ? ? ? 208 | $ ? ? ? ? ? ? ? 10 | $ ? ? ? ? ? ? 163 | $ ? ? ? ? ? ? 449 | $ ? ? ? ? ? ? ?94 | |||||
| ??? Non-accrual loans??? | 2,414 | 5,091 | 1,692 | 1,995 | 2,449 | |||||
| ??? Other real estate owned and repossessed assets | 2,934 | 2,364 | 2,181 | 2,815 | 2,423 | |||||
| NET LOAN CHARGE-OFFS (RECOVERIES): | ||||||||||
| (dollars in thousands) | ||||||||||
| ??? Loans charged off | $ ? ? ? ? ?1,516 | $ ? ? ? ? ?1,801 | $ ? ? ? ? ? ? 609 | $ ? ? ? ? ? ? 237 | $ ? ? ? ? ? ?327 | |||||
| ??? (Recoveries) | (122) | (84) | (50) | (81) | (279) | |||||
| Net charge-offs (recoveries) | 1,394 | 1,717 | 559 | 156 | 48 | |||||
| PROVISION FOR LOAN LOSSES (dollars in thousands) | $ ? ? ? ? ? ? ? 10 | $ ? ? ? ? ?1,050 | $ ? ? ? ? ? ? 300 | $ ? ? ? ? ? ? 300 | $ ? ? ? ? ? ?900 | |||||
| ALLOWANCE FOR LOAN LOSS SUMMARY | ||||||||||
| Source: http://www.redliontrader.com/streamingnews/geo-visions-new-performance-enhancement-products-for-men-and-women-now-available-on-amazon-com-and-sears-com/ bonobos charles manson al sharpton actuary elon musk fox mole manson
Subscribe to:
Posts (Atom)
| ||||||||||