Medient Studioplex project lease executed
Medient Studios Inc. (OTCQB: MDNT) executed a lease with Effingham County Industrial Development Authority on Thursday for the 1,550-acre property on which Medient plans to build a movie-making facility it calls a Studioplex.
The property is now officially in Medient’s possession and the company says construction is expected to begin soon on the $90 million project.
The lease is for 20 years, and Medient has the right to buy the property at any point. At the end of the term the property will be transferred automatically to the company.
Medient will also receive $1.25 million as a site development grant.
“We are excited to finish off the formalities and get to work,” said Manu Kumaran, chairman and CEO of Medient. “I am grateful for the unstinting support of the IDA and county and look forward to getting the studio open soon.”
John Henry, CEO of Effingham IDA, said his organization is proud to be part of the project and pledges its full support.
Magazine gives Bank of Ozarks top rating
Bank of the Ozarks, which has a branch in Savannah, has been named as the top performing banks in the nation by Bank Director magazine in the $1 billion and $5 billion asset category.
The rating is included in Bank Director’s 2013 Bank Performance Scorecard, which highlights America’s best banks. The annual bank performance scorecard includes five key metrics related to profitability, capital strength and asset quality.
The Scorecard ranks publicly owned U.S. banks and thrifts that are listed on the NASDAQ OMX and NYSE EURONEXT stock exchanges. There are 289 institutions in this year’s ranking, divided into three asset categories.
America’s Best Banks appear in the 3rd Quarter 2013 edition of the magazine. Bank of the Ozarks Inc. has reported record earnings in 14 of its 16 years since becoming a publicly traded company in 1997. The bank was established in 1903.
Local chapter of women in construction to meet
The Coastal Georgia Chapter of the National Association of Women in Construction will hold its monthly meeting on Monday at the Exchange Tavern, 6710 Waters Ave.
Networking will begin at 11:30 a.m. with the meeting starting at noon.
The meeting will include a discussion of the annual planning conference on Oct. 11-12. Speakers will provide an overview of events, attendees, budget and sponsorships. Details of the conference will be outlined.
Cost of the meeting is $20 for members, $30 for non-members. RSVP to Marilyn Blome at mblome@nielsonbonds.com.