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Cypress HomeCare Solutions wins Better Business Bureau's Torch Awards for Ethics, 2013 and 2018

Posted By Bob Roth, Cypress HomeCare Solutions, Wednesday, August 1, 2018

Watch Video: Quick look at 2018 BBB Torch Awards for Ethics Winner

Phoenix, AZ, May 18, 2018 – Serving the Maricopa County Region since 1994 Cypress HomeCare Solutions (Cypress) continues to fulfill its mission to provide quality, individualized and compassionate care to clients so they can age successfully and independently in their own homes. Given the personal nature of home care, it’s important for any agency to have a strong set of principles guiding their practices. The Better Business Bureau (BBB) has once again recognized Cypress with the Torch Awards for Ethics.

The BBB Torch Awards for Ethics recognizes companies who exemplify strong ethics, leadership and social responsibility. It is open to for-profit businesses who are in good standing with BBB. Following a nomination, each company must demonstrate their commitment to ethics in each of the following categories: Leadership Commitment to Ethics, Communications of Ethical Practices, Organizational Commitment to Ethical Practice, Organizational Commitment to Performance Management Practices, Organizational Commitment to Ethical Human Resource Practices and Organizational Commitment to the Community.

Back in 2013 Cypress was the first home care/home healthcare agency to be nominated for this prestigious award.  They were then selected as one of three finalists. As if this wasn’t a big enough honor, Cypress went on to be selected as the winner in its category.  After waiting the required five years to be considered again, Cypress was once again selected as the 2018 Torch Awards for Ethics winner.

Matthew Fehling, BBB President/CEO, had this to say about the win, “Cypress HomeCare Solutions is a great example of a company always looking to grow. They’ve taken past accomplishments and accolades and found ways to top even those shining moments to bring more value to the communities they serve. Congratulations to Bob and the Cypress team.”

Bob Roth, Managing Partner of Cypress HomeCare Solutions is honored to be recognized once again for Cypress’ unwavering commitment to ethics.  “When a care recipient opens up their door, they open their life to a caregiver.  From my perspective, I don’t see a profession that requires more ethics than a home care agency that supplies these highly qualified caregivers.  To me winning this award is not only recognizing Cypress for the good work that we are doing in the community.  I feel as if we are representing our industry and this award belongs to all of the agencies that are making a difference in the lives of the people they serve,” says Roth.

Cypress HomeCare Solutions corporate headquarters are located at 5225 N. Central Ave. Suite 212 Phoenix, Arizona 85012. For more information visit cypresshomecare.com or contact Kathleen Shiman at Kathleen@cypresshomecare.com or 602-264-8009.

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Tags:  awards  ethics  home care  jewish family owned  Local Business  locally owned and operated  Phoenix  Press Release  Small Business 

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Metro Phoenix Bank Reports Earnings of $417,000 or $0.11 per Diluted Share in 4Q2017 and Efficiency Ratio of 50.53%

Posted By Eve Tzinas, Metro Phoenix Bank, Thursday, February 15, 2018

PHOENIX, Arizona, February 14, 2018 /PRNEWSWIRE/-- Metro Phoenix Bank (OTCPink: MPHX)(“Bank”) announced net income for quarter ending December 31, 2017 of $417,000, or $0.11 per diluted share.  Excluding the one-time Deferred Tax Asset (DTA) write down of $374,000, adjusted net income for quarter ending December 31, 2017 was $791,000, or $0.21 per diluted share, which remains comparable to 3Q 2017 net income of $795,000 or $0.21 per diluted share.  

For the full twelve months of 2017, the Bank reported net income of $2.91 million, or $0.77 per diluted share, compared to a negative $786,000, or negative $0.32 per diluted share for the same period of 2016.  Excluding non-recurring income and the one-time DTA write down for the full twelve months of 2017, the adjusted net income of the Bank grew to $2.43 million, or $0.64 per diluted share.

“The Bank’s pre-tax earnings performance in the fourth quarter solidifies management’s confidence that our business model is working well within the framework of the local market and provides optimism that sound core earnings can be sustained throughout 2018,” stated Stephen P. Haggard, President and Chief Executive Officer.  “It is very satisfying to see the business potential of Arizona finally being unlocked after years of sluggish growth.  Arizona currently has a healthy economic environment in which businesses are thriving, banks are profitable and local communities are benefitting.”   

Fourth Quarter 2017 Highlights:

  • Net Income for the quarter was $417,000, or $0.11 per diluted share.
    • ROA of 0.95% and 1.28% for the quarter and for the twelve months excluding non-recurring income, respectively;
    • ROE of 5.98% and 9.00% for the quarter and for twelve months excluding non-recurring income, respectively;
    • ROA of 1.50% and ROE of 10.61% for the twelve months excluding non-recurring income and the one-time DTA write down.
  • NIM of 5.54% and 5.15% for the quarter and the twelve months, respectively, with the cost of funds stable at 0.37% compared to the linked quarter, and slightly higher than the fourth quarter 2016 of 0.31%.
  • SBA Gains on Sale of $230M and $998M for the quarter and for the twelve months, respectively.
  • Provision Expense of $44M and $214M for the quarter and for twelve months, respectively.
  • Efficiency Ratio of 50.53% and 55.14% for the quarter and for the twelve months excluding non-recurring income, respectively.
  • Loan growth was 1.96% and 24.27% for the quarter and for the twelve months, respectively.
  • Non-Performing Assets remained at zero for the third consecutive quarter.

Balance Sheet

Total assets grew by 4.48% to $174.9 million for quarter ending December 31, 2017, and increased 23.65% compared to $141.5 million a year ago.  Total loans grew by 1.96% to $137.7 million for quarter ending December 31, 2017, and increased 24.27% compared to $110.8 million a year ago. Total deposits grew by 5.07% to $146.9 million for quarter ending December 31, 2017, and increased 15.10% compared to $125.9 million a year ago. 

The allowance for loan losses totaled $1.6 million at December 31, 2017, or 1.15% of total loans.  No material changes have occurred in the credit quality of the loan portfolio since the preceding quarter.

Shareholders’ equity increased to $27.6 million at December 31, 2017, from $27.2 million the preceding quarter.  At December 31, 2017, book value and tangible book value were $8.15 per share compared to $8.02 per share at September 30, 2017.

Capital Management

The Bank’s capital ratios exceeded the regulatory guidelines for a well-capitalized financial institution under the Basel III and Dodd Frank Wall Street Reform requirements at December 31, 2017.  The Bank reported the following capital ratios:

About the Company

Metro Phoenix Bank, Inc., headquartered in Phoenix, Arizona is a full-service community Bank that caters to small-to mid-sized businesses and real estate professionals.   It offers deposit and loan products and services as well as convenient on-line banking.  The Bank was established in 2007 and operates out of single corporate office.   The company is traded over-the-counter as MPHX.  For further information please visit the website: www.metrophoenixbank.com.

Forward-looking Statements

This press release may include forward-looking statements about Metro Phoenix Bank.  These statements involve certain risks and uncertainties that could cause actual results to differ materially from those in in the forward-looking statements.  Such risks and uncertainties include, but are not limited to, the following factors: competition, fluctuations in interest rates, dependency on key individuals, loan defaults, geographical concentration, litigation and changes in federal laws, regulations and interpretations thereof.  All forward-looking statements included in this press release are based on information available at the time of the release, and Metro Phoenix Bank assumes no obligation to update any forward-looking statement.

 

Contact:     Stephen P. Haggard

                      President & CEO

                      602-346-1800

                      shaggard@metrophoenixbank.com

 

 

 

Tags:  commercial lending  Press Release 

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Metro Phoenix Bank Successfully Raises $10.0 Million in Capital

Posted By Eve Tzinas, Metro Phoenix Bank, Wednesday, June 28, 2017



Metro Phoenix Bank Successfully Raises $10.0 Million in Capital
A Great City Deserves a Great Bank

PHOENIX, Arizona, May 23, 2017 /PRNewswire/ -- Metro Phoenix Bank ("Bank") announced today that it completed a private placement of $10.0 million of its common stock, positioning the Company to grow its Arizona franchise. In the offering, the Bank issued 1,333,334 shares of its common stock at a purchase price of $7.50 per share. The proceeds from the offering will allow the Bank to increase its banking activities in the greater Phoenix, AZ market as the economy continues to strengthen. 

"This additional capital provides Metro Phoenix Bank the opportunity to build on a successful franchise that has consistently serviced the local business community for the past decade.  We remain highly motivated to exceed the service expectations of our small- to medium-sized business and real estate professional clients and we fully expect to continue to be the go-to independent community bank in Phoenix for new clients.  The infusion of new growth capital at a time that our local economy has returned to full health is exciting for all stakeholders of Metro Phoenix Bank. We are committed to being an integral part in helping the local business community achieve greater prosperity,” said President and CEO Stephen P. Haggard.

MJC Partners, LLC and FIG Partners, LLC acted as Placement Agents for the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Bank.

 

About Metro Phoenix Bank

A community bank established in 2007, Metro Phoenix Bank, headquartered in Phoenix, AZ, is locally owned and managed and offers a wide range of financial products for small- to mid-sized businesses, professionals, the real estate industry and individuals.  The Bank also provides specialty platforms for SBA lending and the HOA industry.  The Bank's solution-driven, relationship-based approach to banking provides access to decision makers and enhances value through strong partnerships with their clients. The Bank currently operates one office in Phoenix, AZ.

For more information:
Visit:  www.metrophoenixbank.com
Call:  (602) 346-1800
Email:  marketingdept@metrophoenixbank.com

Tags:  capital  finance  press release 

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Arizona Town Hall Seeks to Strengthen Arizona-Mexico Regional Cooperation

Posted By Dawn Anderson, Jennings, Strouss & Salmon, PLC, Friday, May 19, 2017

PHOENIX, Ariz. (May 18, 2017) – Jennings, Strouss & Salmon, P.L.C., in partnership with Arizona Town Hall, is pleased to host the inaugural Community Town Hall on May 25-26, 2017 at the Hotel Lucerna in Hermosillo, Sonora, Mexico.

The Community Town Hall event in Hermosillo was one of the recommendations issued from the 108th Arizona Town Hall. Jennings, Strouss & Salmon, a long-time supporter of Arizona Town Hall, is the premier sponsor of the event.

“The objective of the event is to bring diverse perspectives from both sides of the border to constructively discuss how to strengthen economic partnerships and cooperation between Arizona and Sonora for the betterment of the region as a whole,” states Patrick F Welch, an attorney at Jennings, Strouss & Salmon who, through his relationships and contacts in Hermosillo, has been instrumental in arranging the Community Town Hall.

The event will also include remarks from key leaders helping to shape state and national policy impacting this important relationship, including:

  • Rafael Fernandez de Castro, Department Head of International Studies at the Instituto Tecnologico Autonomo de Mexico
  • Karen Ogle, Consul General of the United States of America, Hermosillo, Sonora, Mexico
  • Flor Ayala, Local Deputy, Congress of the State of Sonora
  • Ruben Gallego, Representative, Arizona District 7, U.S. House of Representatives.

According to the Office of the United States Trade Representative, American goods and services trade with Mexico totaled an estimated $579.7 billion in 2016.  Mexico is currently the United States’ third largest goods trading partner with $525.1 billion in (two way) goods trade during 2016. The North American Free Trade Agreement (NAFTA) has been one of the main drivers for this economic growth as demonstrated by this substantial growth as compared to pre-NAFTA statistics. Arizona, because it borders Mexico, has been identified as one of the states that has benefitted the most from NAFTA.

According to the Eller College of Management at the University of Arizona, Mexico is Arizona’s number one trade partner, accounting for about 30% of all Arizona’s exports to foreign markets and 37% of all Arizona’s imports from foreign markets. Arizona exports to Mexico in 2016 totaled $8.32 billion, and primarily include manufacturing products and agricultural goods.

“As an attorney representing United States and Mexican-based companies and individuals involved in cross-border trade and investment between Arizona and Mexico, I have seen an uptick in inquiries for legal services relating cross-border activities,” states Welch. “The take away from these statistics and my personal experience is that economic trade and investment between Arizona and Mexico is of critical importance to Arizona’s economy and the Arizona-Sonora region as a whole.”  

The upcoming Community Town Hall in Hermosillo will provide an excellent opportunity for stakeholders involved in cross-border trade and investment between Arizona and Mexico to come together to explore how Arizona and Sonora can expand their vibrant economic partnership. It will also address opportunities and challenges raised by globalization. For example, what are the prospects for development of the Arizona-Sonora region as an important regional hub for international commerce? Participants may choose to discuss infrastructure needs, tax reforms, and other policies needed to make the most of the region’s competitiveness in the global marketplace. 

“Participants will discuss commercial trends that could influence the region, the impact of immigration and border security, and how Sonora and Arizona can serve as a template for a productive relationship between Mexico and the United States. These are just some of the important topics that participants will discuss at the Community Town Hall event in Hermosillo later this month,” states Tara Jackson, President of Arizona Town Hall. “Participants at this event will undoubtedly leave with a better understanding of the role we all play in supporting the important relationship between Arizona and Sonora, and how to help improve our regional and global competitiveness.”

About Arizona Town Hall

Arizona Town Hall educates, engages, connects and empowers people to resolve important issues through consensus, not division, using a process based on respectful dialogue that values diverse perspectives, builds relationships and fosters leadership development. For more information, visit www.aztownhall.org.

About Jennings, Strouss & Salmon, P.L.C.

Jennings, Strouss & Salmon, P.L.C., has been providing legal counsel for 75 years through its offices in Phoenix and Peoria, Arizona; and Washington, D.C. The firm's primary areas of practice include agribusiness; automobile dealership law; bankruptcy, reorganization and creditors’ rights; construction; corporate and securities; employee benefits and pensions; energy; family law and domestic relations; health care; intellectual property; international law; labor and employment; legal ethics; litigation; professional liability defense; real estate; surety and fidelity; tax; and trust and estates. For additional information please visit www.jsslaw.com and follow us on LinkedIn, Facebook and Twitter.

The firm’s affiliate, B3 Strategies, assists clients with lobbying and public policy strategy at the local, state, and federal levels. For more information please visit www.b3strategies.com.

~JSS~

Contact:  Dawn O. Anderson | danderson@jsslaw.com| 602.495.2806

 

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Tags:  Arizona  Economic Development  entrepreneur  Foreign Trade  Mexico  Press Release  Small Busines  Town HallSmall Business 

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Jennings, Strouss & Salmon Continues Strategic Growth with the Addition of Three Attorneys

Posted By Dawn Anderson, Jennings, Strouss & Salmon, PLC, Thursday, March 30, 2017

PHOENIX, Ariz. (March 30, 2017) – Jennings, Strouss & Salmon, P.L.C. continues to implement its growth strategy to be better positioned for the future by adding three new Members. The firm is pleased to welcome Joseph E. Cotterman, Howard J. Weiss and Patrick D. White to its Phoenix office.

Celebrating 75 years of advising businesses and individuals on a wide-range of legal matters, Jennings, Strouss & Salmon is excited to be growing its transactional and litigation departments to enrich the services offered to clients across multiple practice areas. Over recent months, the firm has welcomed eight new attorneys with experience in multiple areas, including tax, commercial litigation, labor and employment, medical malpractice, legal ethics, bankruptcy, real estate, and energy. Jennings, Strouss & Salmon continues to build its presence throughout North America through its Arizona and Washington, D.C. offices.

“It is a very exciting time for the firm,” states John C. Norling, Managing Attorney. “Established companies are expanding locally and into new markets, and new businesses are emerging and experiencing rapid growth. Jennings, Strouss & Salmon recognizes the need to plan for the future and is expanding in the areas and industries where we see the most development to ensure we continue to provide high-quality legal services to our clients. Joe, Howard and Patrick – three very experienced and esteemed attorneys – are great additions to the firm and their respective departments.”

Cotterman joins the firm’s Business Restructuring and Reorganization department with over 25 years of experience representing clients in the areas of corporate restructuring, business bankruptcy, creditors’ rights, and commercial litigation. He advises corporate debtors, creditors, and committees in Chapter 11 cases, and lenders and borrowers in commercial and real estate foreclosure litigation. Cotterman’s restructuring experience includes the representation of creditors and debtors in the real estate development, retail, manufacturing, health care, telecommunications, airline, firearms, and high-tech industries. He has served as a presenter, author, and instructor on topics relating to bankruptcy law and procedure, and foreclosure and collection litigation. Cotterman earned his J.D., magna cum laude, from the Arizona State University Sandra Day O’Connor College of Law, and a B.S. in Justice Studies, summa cum laude, from Arizona State University.

Weiss expands the depth and breadth of the firm’s Real Estate department with his experience representing clients that are purchasing, selling, and leasing retail, office, industrial, and multifamily properties. In addition, he represents Canadian clients with their U.S. entity selection and real estate transaction needs. Weiss also works with landowners on the negotiation and drafting of cell tower leases. To complement his real estate practice, he counsels clients on business transactions, including the preparation of asset and stock purchase agreements, security agreements, operating agreements, shareholders agreements, promissory notes, consulting agreements, confidentiality and nondisclosure agreements, and other business-related contracts. Weiss often presents to professionals in the real estate industry. He earned his J.D. from Georgetown University Law Center and a B.S. in Accounting from Pennsylvania State University.

White enhances the extensive knowledge and experience of the firm’s Medical Malpractice and Health Care Professional Liability department. For over twenty years, he has focused his practice in the areas of medical malpractice defense, representing physicians, health care entities, and HMOs. White also represents physicians and orthodontists before state licensing boards, and has litigation experience in the areas of general liability defense and professional liability defense. He is licensed to practice in Arizona and Illinois. White earned his J.D. from IIT Chicago-Kent College of Law and a B.S. in Finance from Loras College.

About Jennings, Strouss & Salmon, P.L.C.

Jennings, Strouss & Salmon, P.L.C., has been providing legal counsel for 75 years through its offices in Phoenix and Peoria, Arizona; and Washington, D.C. The firm's primary areas of practice include advertising and media law; agribusiness; automobile dealership law, bankruptcy, reorganization and creditors’ rights; construction; corporate and securities; employee benefits and pensions; energy; family law and domestic relations; health care; intellectual property; labor and employment; legal ethics; litigation; professional liability defense; real estate; surety and fidelity; tax; and trust and estates. For additional information please visit www.jsslaw.com and follow us on LinkedIn, Facebook, and Twitter.

The firm’s affiliate, B3 Strategies, assists clients with lobbying and public policy strategy at the local, state, and federal levels. For more information please visit www.b3strategies.com.

 

~JSS~

Contact:  Dawn O. Anderson | danderson@jsslaw.com| 602.495.2806

 

Tags:  #PressRelease #ASBA #News #CEO  Arizona  Downtown Phoenix  legal  legal provider  legal services  Press Release 

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