Movers and shakers

Tizono to head Edward Jones branch office

Vincent Tizono has been named to take over the local Edward Jones office located at 211 E. Coeur d’Alene Ave, the firm announced.

“We’re very proud to have Vince represent us in downtown Coeur d’Alene area,” said Jim Weddle, the firm’s managing partner. “The people of this community have grown to rely on our firm for their investment needs, and I am confident Vince will continue our outstanding tradition by providing one-on-one service to our clients.”

Tizono said he is enthusiastic about taking over the branch office.

“I joined this firm because I was impressed with its commitment to individual investors,” he said. “Now I’m looking forward to meeting with the individuals here to help them meet their financial goals.”

Edward Jones, a Fortune 500 company, provides financial services for individual investors in the United States and, through its affiliate, in Canada. The firm’s 14,000-plus financial advisors work directly with nearly seven million clients. Edward Jones is headquartered in St. Louis. For information or recruiting, visit www.edwardjones.com or www.careers.edwardjones.com.

Community 1st Bank reports strong first quarter

Community 1st Bank reported net income of $171,604 or $0.16 per share for the first quarter of 2016, up from $104,213 or $0.10 per common share for the same period during 2015. Total assets at March 31, 2016 were $102.4 million, an increase of $8.3 million or 8.84 percent from March 2015. Total loans increased $3.1 million to $60.7 million and total deposits increased $7.7 million to $90.4 million. As of March 31, 2016 there were no non-performing assets.

“With the completion of a strong first quarter, we continue to embrace the promising growth opportunities that we see clearly evident in Kootenai County in 2016. Our core strength remains centered in the community focused efforts of our entire Community 1st Bank team and we see that critically important commitment only improving as the year progresses,” said Dave Bobbitt, chairman and CEO for the bank. “Our 5 Star Bauer Financial rating is hard earned, long running, and never taken for granted. To further that distinction, we look forward to celebrating the expansion of our community wide service and support with the opening of our new Loan Production Office in downtown Coeur d’Alene in late summer of this year as yet another example of doing the right thing where we live, work, and play.”

First quarter 2016 highlights:

• A 5 percent stock dividend was declared and paid on all shares outstanding. Book value per share was $10.27 as of March 31, 2016.

• Total assets grew 5.44 percent to $102.4 million as compared to $97.1 million as of Dec. 31, 2015.

• Return on equity for the quarter increased to 6.13 percent from 3.92 percent a year ago.

• The net interest margin increased to 3.78 percent from 3.40 percent in the prior year.

• Allowance for loan losses was 1.83 percent of loans.

• Capital ratios continue to exceed regulatory requirements, Tier 1 leverage ratio increased to 11.34 percent from 10.98 in the prior year.

• Efficiency ratio improved to 74.63 percent during Q1 2016 from 81.61 percent for the same period in the prior year.

• For 22 consecutive quarters, Community 1st Bank was awarded a 5-star rating, the highest available, from independent banking rating agency BauerFinancial.

Community 1st Bank serves Kootenai County with two full service Offices in Coeur d’Alene and Post Falls, and a second Coeur d’Alene office, a commercial loan center, slated to open downtown later this year.

Visit www.com1stbankid.com or call (208) 635-7171 for Coeur d’Alene, or (208) 457-9610 for Post Falls.

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