Harmony Bank Announces 12th Consecutive Quarter of Positive Earnings
Harmony Bank (the “Bank”), with headquarters in Jackson, N.J., today reported its earnings for the first quarter ending March 31, 2014, the 12th consecutive quarter of positive earnings.
For the three months, which ended March 31, 2014, the Bank reported net income of $245,126 or $0.15 per share, an increase of $3,112 or 1.3 percent over the $242,014 or $0.15 per share reported for the same period in 2013. On a pretax basis, income as of March 31, 2014 was $401,847, an increase of $159,833 or 60.8 percent as compared to $242,014 for the quarter ended March 31, 2013. The Bank’s earnings became fully taxable as of January 1, 2014.
As of March 31, 2014, the total assets of Harmony Bank were $214.8 million, an increase of 37.2 percent over the $156.6 million reported at March 31, 2013. Total loans have increased $ 38.1 million or 31.3 percent to $159.8 million as of March 31, 2014 compared to $121.7 million as of March 31, 2013. Total deposits increased 34.3 percent to $186.3 million at March 31, 2014, compared to $138.8 million at March 31, 2013.
President and Chief Executive Officer Michael A. Schutzer said, “We had an excellent first quarter with over $400,000 of pre-tax income resulting from the hard work of our dedicated employees and a loyal customer base. Our continuing efforts to support small businesses through our preferred lender relationship with the Small Business Administration also contributed significantly to our first quarter earnings, our 12th consecutive quarter of positive earnings. Our balance sheet continues to show sustainable growth while maintaining superior asset quality. We continue to hire high quality bankers, recognizing that our future success depends upon the talent and depth of our employees.”
Asset quality remained strong as non-performing assets as of March 31, 2014 were $156,557 as compared to $399,741 as of March 31, 2013.
At March 31, 2014, Harmony Bank continued to maintain capital at levels which are in excess of the required levels to be considered “well-capitalized” with Tier 1 leverage, Tier 1 risk-based capital and total risk-based capital ratios of 8.82 percent, 11.73 percent and 12.98 percent, respectively.
The Bank’s common shares are listed on the OTCQB market under the symbol HRMB. Visit http://www.otcmarkets.com/stock/HRMB/quote for a link to the quote.
About Harmony Bank
Harmony Bank is a state chartered FDIC insured commercial bank that opened for business in September 2008. Its headquarters are located in Jackson, N.J., with branches located in Lakewood and Toms River, New Jersey. (2120 West County Line Road, Jackson, New Jersey 08527; (732) 364-0088 Fax (732) 364-2805 www.myharmonybank.com)
Forward-Looking Statements
This release contains certain “forward-looking statements” about Harmony Bank, which, to the extent applicable, are intended to be covered by the safe harbor for forward-looking statements provided under the Federal securities laws; and, regardless of such coverage, you are cautioned about. Such statements are not historical facts and involve certain risks and uncertainties. Actual results may differ materially from such forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to:
• A severe decline in the general economic conditions of New Jersey;
• higher than expected increases in our allowance for loan losses;
• higher than expected increases in loan losses or in the level of nonperforming loans;
• unexpected changes in interest rates;
• a continued or unexpected decline in real estate values within our market areas;
• lack of liquidity to fund our various cash obligations;
• unanticipated reduction in our deposit base; and
• other unexpected material adverse changes in our operations or earnings.
We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in our expectations. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.
Contacts at Harmony Bank:
Michael A. Schutzer, President and CEO
732-719-3710
mschutzer@myharmonybank.com
Michael J. Gormley, EVP CFO COO
732-719-3707
mgormley@myharmonybank.com
OHI Sponsors Ladies Night May 16 for National Women’s Health Week
OHI (Ocean Health Initiative, Inc.), a Federally Qualified Health Center, is recognizing National Women’s Health Week with a “Ladies Night” at its Lakewood site, Friday, May 16, 2014, 5:00 to 8:30 p.m., 101 Second Street, Lakewood. “Ladies Night” is sponsored by OHI, Horizon NJ Health and United Healthcare.
OHI will be providing free pregnancy testing and free blood pressure screenings. Free glucose screenings will take place in the OHI Mobile Medical Unit. The evening also includes music, free chair massages from massage therapist, light refreshments, give-aways and door prizes.
Pregnancy test results will be available immediately. Those with positive results can schedule an appointment with a health care professional.
The Health Exchange Department will be available to answer questions about the Marketplace and special enrollment situations.
National Health Week, May 11-17, 2014, honors the women – mothers, grandmothers, aunts, sisters, cousins, friends and colleagues – and encourages them to make their own health a priority.
Former U.S. Secretary of Health and Human Services Kathleen Sebelius says, “Women are frequently the health care decision-makers in their families. We take time off from work to drive a parent to the doctor. We hold our children’s hands while they get their vaccinations. We make the appointments for our spouses’ checkups – and then make sure they actually go. We stretch and re-work our family budgets to pay the doctor’s bills. And too often, we put our own health last.
“But the truth is unless we take care of ourselves first, we cannot really take care of our families. That means we have to eat right, exercise, and get the care we need to stay healthy. Unfortunately, preventive care has not always been easily accessible or affordable for everyone, including young women.”
To learn more about National Women’s Health Week go to: www.womenshealth.gov. For further information call OHI, Lakewood, 732-363-6655.
About Ocean Health Initiatives
About OHI: OHI is a nonprofit 501(c)(3) federally qualified health center (FQHC) with locations at 101 Second Street, Lakewood; and 301 Lakehurst Road, Toms River; and 333 Haywood Road, Manahawkin; and in the Clifton Avenue Elementary School, 625 Clifton Avenue, Lakewood; and the Mobile Medical Unit outside the George J. Mitchell Elementary School, 950 N. Green Street, Little Egg Harbor.
OHI provides comprehensive preventative and primary health and dental care to Ocean County uninsured and underinsured populations on a sliding-fee scale, based on an individual’s or family’s ability to pay. Services include pediatrics, maternal and child health, prenatal, WIC, universal immunizations behavioral health, dental, family medicine, internal medicine, OB/GYN, podiatry and social services.
OHI has a bilingual staff available to assist patients and callers. To become a patient of OHI, call a representative in the Call Center at either 732-552-0377, Toms River, or 732-363-6655, Lakewood. Visit www.ohinj.org. for further information.
Official WOBM-AM Studio Renamed The Preferred Home Health Care Studio
This April, in honor of Joel Markel, the president and owner of Preferred Home Health Care & Nursing Services, Eatontown, Townsquare Media, Toms River, renamed its fourth floor WOBM-AM studio in the Bob Levy Broadcast Center, “The Preferred Home Health Care Studio.”
Two years ago Joel Markel began hosting his own radio show Preferred Company, featuring Marianne Levy, discussing topics of interest to families, the senior community, and caregivers.
Markel uses his passion for radio to promote many charitable and nonprofit causes, and to discuss various health and wellness topics. Besides Preferred clients and staff, Markel likes to feature local talent on the show as well as television celebrities like June Lockhart, known as portraying Timmy’s mother on “Lassie.”
On Wednesdays, the focus of Preferred Company is fun and game shows during which Markel gives away prizes, such as $50 Macy’s gift cards and $25 American Express gift cards.
Jonathan Herman, COO of Preferred and Markel’s nephew, said his uncle has a knack for radio and relating to his audience. Markel’s wife Stephanie agreed. “He’s a natural. It’s as if he was born to do this.”
Herman said, “The company was formed in 1987 to meet the huge need for home health care because we know first-hand how support can help families in a time of need. Joel is very concerned about our clients’ happiness and well-being. Preferred Company is another way to reach many people and help them.”
“Over the years we’ve had a wonderful relationship with Preferred Home Health,” said Don Dalesio, market manager for Townsquare. “We take the naming rights to our studio and what our brand stands for very seriously,” he said, adding that Townsquare has declined partnerships with other companies in the past.
Dalesio added that Markel’s company can be held up as a model company that is well run and well staffed. Preferred goes above and beyond in serving clients who need home health services, ranging in age from three months old to 106.
Markel and his family are well known for their philanthropic work throughout the area, including ongoing support of the Emmanuel Cancer Foundation, which provides free specialized services to New Jersey families who are caring for a child with cancer; and their long-term commitment to the Homeless Health Initiatives, a volunteer outreach program run by Children’s Hospital of Philadelphia.
After Markel and his wife Stephanie cut the red ribbon, officially marking the renaming of the studio, they unveiled the name plaque, which will remain for a one-year period, said Dalesio.
“Preferred Company with Joel Markel and Marianne Levy” can be heard Tuesday, Wednesday and Thursday from 10:00 to 11:00 a.m. on WOBM-AM 1160 and 1310. The duo discusses the latest issues, trends and challenges in the home health care industry in a “relaxed, advice-oriented, informational and fully interactive” format. Listeners are invited to call in or send emails to interact with the hosts. For more information, visit Preferred Company – WOBM-AM 1160 & 1310 | http://wobmam.com/preferredcompany/?trackback=tsmclip or www.preferredradio.com.
About Preferred Home Health Care & Nursing Services:
Since 1987, Preferred Home Health Care & Nursing Services (PHHC), 45 Main Street, Eatontown, N.J., has provided a wide range of medical and non-medical home health care services from pediatric to geriatric care throughout New Jersey and Pennsylvania. PHHC is accredited by CHAP (Community Health Accreditation Program), an accrediting organization for the home health care industry.
Preferred works collaboratively with physicians, hospitals, nursing homes and facilities to ensure a smooth transition to one’s home. In-house services include skilled nursing care for infants, children, adults, and seniors; personal care services, including bathing, grooming, dressing, feeding, etc.; private duty nursing services; and at-home physical therapy, among others. All of the care can be provided in-house and is coordinated by registered nurses, with clinical supervision available 24 hours a day, seven days a week. Visit Preferred at PreferredCares.com for more information.
OHI Announces Health Insurance Eligibility Still Available for Select Situations
The Health Insurance Marketplace of OHI (Ocean Health Initiatives), a federally qualified health care center, announced that some individuals and families may still be eligible to enroll in health insurance even though the formal open enrollment period has closed.
Special Open Enrollment in the Marketplace is available up to 60 days AFTER the following events have occurred: those who are recently married, had or adopted a child, had a change in immigration status, have been released from incarceration, received an exemption from Marketplace but now have a higher income; and anyone who lost health insurance because of leaving or losing a job, moving into New Jersey or moving from another part of New Jersey, divorced, turned 26 years of age and lost coverage on a parent’s plan, or lost eligibility for Medicaid or CHIP.
Beatriz C. Patino, the health exchange coordinator of the Health Exchange Marketplace Department for OHI, said, “These life-changing situations allow people to participate in this special enrollment period; however, it is important to remember that you must enroll within 60 days after the event occurred.”
People who can enroll ALL year include anyone eligible for Medicaid or have a child who is eligible for CHIP (Children’s Health Insurance Plan); a small business owner who wants to offer coverage to employees; and a native American or Alaskan native.
Patino and Carmen E. Lopez and Sasha Andino, associates, and other qualified staff will answer questions, explain any changes, and help individuals sign up for health insurance.
Bilingual Certified Application Counselors in the OHI Health Exchange Marketplace department are available by appointment only. To schedule an appointment call 732-363-6655 or visit www.ohinj.org.
About Ocean Health Initiatives
OHI is a nonprofit 501(c)(3) federally qualified health center (FQHC) with locations at 101 Second Street, Lakewood; 301 Lakehurst Road, Toms River; 333 Haywood Road, Manahawkin; Clifton Avenue Elementary School, 625 Clifton Avenue, Lakewood; and the Mobile Medical Unit outside the George J. Mitchell Elementary School, 950 N. Green Street, Little Egg Harbor.
OHI provides comprehensive preventative and primary health and dental care to Ocean County uninsured and underinsured populations on a sliding-fee scale, based on an individual’s or family’s ability to pay. Services include pediatrics, maternal and child health, prenatal, WIC, universal immunizations, behavioral health, dental, family medicine, internal medicine, OB/GYN, podiatry and social services.
OHI has a bilingual staff available to assist patients and callers. To become a patient of OHI, call a representative in the Call Center at either 732-552-0377, Toms River, or 732-363-6655, Lakewood. Visit www.ohinj.org. for further information.
Hot Issues in Employment Law – May Meeting of HR Group
What are the recent legislation and developments in employment law? David Islinger, and other attorneys from Jackson Lewis, LLP, one of the largest law firms in the country dedicated to representing management in labor, employment and benefits law, and related litigation, will present information about employment law developments on Thursday, May 8, 2014, at the Jersey Shore Association for Human Resources (JSAHR) meeting, 8:00 to 11:00 a.m., at Jumping Brook Country Club, 210 Jumping Brook Road, Neptune, NJ. (Please note: This meeting will end at 11:00 a.m., an extra hour at no additional charge.)
Topics will include National Labor Relations board policy issues that are applicable to union and non-union employees; new EEOC regulations regarding religious accommodations; social media and workplace issues; recent decisions under the Sarbanes Oxley Act and other retaliation statues, such as CEPA; and a question and answer session.
The registration fee for the May meeting, including a full buffet breakfast, is $30.00 for JSAHR members; $40.00 for nonmembers; $25.00 for those in-transition, and $10.00 for full-time students. This program is pending HRCI credits. To register, call Kathi Evans, JSAHR administrator, at 732-270-5204, or email jsahr.shrm@gmail.com.
JSAHR is a Gold Excel award winner of SHRM (Society for Human Resource Management).
About the Speaker: DAVID G. ISLINGER is a partner in the firm of Jackson Lewis, LLP. He received his JD degree from George Washington University National Law Center in 1993 and joined Jackson Lewis in 1995. Islinger received a B.S. in Industrial & Labor Relations from Cornell University. He devotes his practice primarily to traditional labor law, training and counseling matters. He has extensive experience representing employers in representation cases and unfair labor practice proceedings before the National Labor Relations Board. Islinger also has represented employers in grievance and arbitration proceedings involving issues surrounding contract interpretation, wage issues and discipline and discharge. He has represented employers before federal and state government employment agencies, including the EEOC, the New Jersey Division on Civil Rights, the Pennsylvania Human Relations Commission, the U.S. Dept of Labor and the NJ Department of Labor.
Mr. Islinger regularly speaks to executives, managers, and supervisors on workplace issues, having provided training to thousands of managers and employees on all workplace issues including harassment and discrimination concerns, union avoidance and contract administration, disabilities management, and wage and hour law. Islinger is an editor of the New Jersey Wage and Hour Handbook – A Practice Guide for Small Business. He is admitted to practice in N.J. and is a member of the American Bar Association.
ABOUT JACKSON LEWIS LLP
Jackson Lewis LLP is among the largest firms in the country dedicated to representing management in labor, employment and benefits law and related litigation. With twenty-seven offices across the country, the firm has both a national perspective and a keen understanding of the nuances of regional business environments. Jackson Lewis represents employers before state and federal courts on a wide range of issues including discrimination, wrongful discharge, retaliation, whistleblower, health, safety, wage/hour, pension and benefits. The firm’s attorneys negotiate collective bargaining agreements, participate in arbitration proceedings and represent union-free and unionized employers before the NLRB, OSHA, and other federal and state agencies.
Twin City Jewelers Scholarship Contest Winner – You’re the Designer
A Lakewood High School senior’s design of a custom engagement ring was selected from among 200 entries by students from Ocean and Monmouth counties in the first-ever Twin City Jewelers “You’re the Designer” Scholarship Contest.
At 3:00 p.m., Saturday, May 3, the winning design of an engagement ring created by Marisa Vega, age 18, Lakewood, will be unveiled by Tom Calabro, owner of Twin City Jewelers, 36 Clifton Avenue, Lakewood, N.J. For her efforts, Vega will receive a $2,500 college scholarship from Twin City Jewelers.
Lakewood Township Committeeman Raymond Coles, who will be presenting a township proclamation to the scholarship winner, said: “I appreciate the fact that Twin City challenges students to use their creativity and rewards them by helping to finance their college education.”
Vega designed a diamond and pink sapphire ring that she specified should be made in rose gold, Calabro said.
“We went through all of the entry designs and sketches done in pencil, colored pencils, paint and computer-aided design (CAD). One student even made an actual plaster model of a ring,” he said. “But this girl just did a sketch of an interesting design that I probably wouldn’t have made myself as an engagement ring.”
Entries were judged on originality and innovative design, Calabro said.
At the award ceremony, the original sketch and computer-generated renderings will be on display, as will a copy of the wax mold made of Marisa’s design, the ring without the stones mounted and the finished ring with the stones set, said Calabro.
Thomas Sisbarro, an Ocean County College student, will be photographing the presentation, he added.
Twin City Jewelers was established in 1979 by Calabro’s uncle, Joseph Sgro.
For more information, email Calabro at tom@twincityjewelers.com or visit twincityjewelers.com. Find Twin City Jewelers on facebook.com/twincityjewelers.
JSAHR Scholarship Deadline May 1, 2014
The deadline for Jersey Shore Association for Human Resources (JSAHR) scholarship applications and all applicable paperwork is Thursday, May 1, 2014. Each year, JSAHR offers two scholarships to its members – $500 for continuing education, including its certification study group and books; and a $1,000 one-time scholarship to the child of an active member who is pursuing post-high school studies.
The student scholarship, known as the Ann C. Edwards, SPHR (Senior Professional in Human Resources) Scholarship, is given annually as a tribute to Ms. Ann C. Edwards, a founding member of JSAHR, who served in various board and leadership roles in the human resources profession in New Jersey, including president of JSAHR.
She was also a director on the Garden State Council of Human Resources and active in the Society of Human Resources Management (SHRM) on the national level. Edwards is now retired and living in New Hampshire.
For more information, call Kathi Evans, chapter administrator at 732-270-5204 or email jsahradmin@atbcelebrations.com. The decision of the scholarship committee is final. Please contact Bob Kane, scholarship director, with any questions at robertpkane@aol.com.
About Jersey Shore Association for Human Resources (JSAHR): JSAHR is a professional organization that provides its members access to services and programs dedicated to the advancement of Human Resources in New Jersey, particularly Monmouth and Ocean counties. JSAHR gives members have opportunities to update and advance skills through education, network with peers and exchange ideas in a professional forum, learn about current and local legislative actions, and gather information needed to effectively practice the human resources’ profession
The JSAHR is an affiliate chapter of the Society for Human Resource Management (SHRM) and a member of the Garden State Council of SHRM. SHRM is the largest organization dedicated exclusively to the advancement of the Human Resources profession and represents the interests of over 200,000 members and 20,000 businesses located throughout the United States.
Circle Hyundai Chevrolet, Shewsbury Donates $11,900 to MS Walk Event
Circle Hyundai Chevrolet, Shewsbury, N.J., recently donated $11,900 to support Walk MS; but Circle Hyundai’s employees and owners (Robert, Donald and Paul DeFelice) are hoping to reach their goal of $15,000.00 to support the programs and research of the New Jersey Metro (NJM) Chapter of the Multiple Sclerosis Society.
Blaise Scibetta, general sales manager of Circle Hyundai Chevrolet and team captain of Walk MS, began Circle Hyundai’s fund-raising efforts this March by donating $100.00 for every new Hyundai sold that month. During their March sales event, Scibetta said they sold 119 new cars. With additional contributions from employees, family and friends, Scibetta said they have raised their total contributions to $12,200 and are well on their way to their goal of donating $15,000.
This is the second year that Circle Hyundai Chevrolet is one of the corporate sponsors of Walk MS. If you would like to make a donation to Walk MS through Circle Hyundai, contact Blaise Scibetta at 732-741-3130 or Blaise@circleauto.com
MS Walk will begin at Bar Anticipation, 703 16th Avenue, Belmar, Sunday, April 27. Registration is at 9:00 a.m. and the MS Walk will begin at 10:00 a.m.
Register Now to Be in Lakewood’s Annual Memorial Day Parade
Lakewood Township is holding its annual Memorial Day Parade, Monday May 26, 2014, starting 10:00 a.m. Organizations and veterans who would like to participate in the Memorial Day parade should contact Sarah Kay in the Mayor’s office at 732-364-2500 ext. 5973 or email skay@lakewoodnj.gov
The Memorial Day Parade will pass the Review Stand on its way down Clifton Avenue to the All War Memorial Amphitheater at Lake Carasaljo, North Lake Drive, where the Memorial Day program will take place. Transportation is available to transport the marchers from the lake to the starting point of the parade.
According to Lakewood Mayor Menashe Miller, “This is a wonderful opportunity for the entire community to demonstrate their support for our esteemed veterans and our selfless men and women currently in service both here and abroad.”
Participants are requested to be at their assigned location no later than 9:30 a.m. In case of inclement weather the Memorial Day ceremony will be postponed. Call 732-363-0200 Ext. 8401 for information.
Nurse Educator Joins Staff of Preferred Home Health Care
Connie Kemler, Manalapan, New Jersey, has joined the staff of Preferred Home Health Care & Nursing Services (PHHC) as a nurse educator. PHHC, with its headquarters in Eatontown, N.J., has offices throughout New Jersey and Pennsylvania.
In this position, Kemler will travel to all Preferred offices in New Jersey and Pennsylvania reviewing and teaching courses to all new and existing employees. She will teach pediatric courses, especially focusing on what to look for in pediatric patients, and examine basic documentation and clinical skills, including what to look for and how to care for patients in the home setting.
Before joining PHHC, Kemler worked as a pediatric clinical manager for a Shrewsbury, N.J., home healthcare company where she managed more than 20 special needs patients, ranging from infants to 22-year-olds and coordinated the home transition of patients with hospital liaisons and physicians.
Kemler, who is fluent in Spanish, holds a diploma in nursing from Flushing Hospital and Medical Center School of Nursing, Flushing, N.Y. She also attended Queensboro Community College, Bayside, N.Y. Kemler is a licensed registered nurse in New Jersey and New York.
Kemler, who has more than 30 years of experience in the field of nursing and management, said, “I am honored to have the opportunity to work for Preferred, sharing my knowledge and experiences with others.”
For more information, contact Lisa Gallicchio, director of community relations for Preferred Home Health Care & Nursing Services, at 732-840-5566.
About Preferred Home Health Care & Nursing Services:
Since 1987, Preferred Home Health Care & Nursing Services (PHHC), 45 Main Street, Eatontown, N.J., has provided a wide range of medical and non-medical home health care services from pediatric to geriatric care throughout New Jersey and Pennsylvania. PHHC is accredited by CHAP (Community Health Accreditation Program), an accrediting organization for the home health care industry.
Preferred works collaboratively with physicians, hospitals, nursing homes and facilities to ensure a smooth transition to one’s home. In-house services include skilled nursing care for infants, children, adults, and seniors; personal care services, including bathing, grooming, dressing, feeding, etc.; private duty nursing services; and at-home physical therapy, among others. All of the care can be provided in-house and is coordinated by registered nurses, with clinical supervision available 24 hours a day, seven days a week. Visit Preferred at PreferredCares.com for more information.