Heritage Financial reports 2Q income of $1.8 Million
ALBANY — Heritage Financial Group Inc. (NASDAQ: HBOS), the holding company for HeritageBank of the South, reports net income for the second quarter of 2014 of $1.8 million or $0.23 per diluted share, down 33 percent from $2.7 million or $0.36 per diluted share for the year-earlier quarter.
The company reported loan growth – excluding loans acquired through FDIC-assisted acquisitions – of $42.2 million, up 17 percent from the year-earlier quarter.
Nonperforming loans declined 24 percent during the quarter.
Mortgage originations increased to $249.9 million for the quarter, up $133.2 million or 114 percent from the year-earlier quarter.
“We are pleased to report ongoing improvements in our operating results,” said Leonard Dorminey, president and chief executive officer.
“Our mortgage expansion efforts continue to cement as a solid platform for future growth, evidenced by a substantial increase in originations during the second quarter and a significantly larger pipeline of loans in process at quarter’s end,” Dorminey said.
HeritageBank has branches in Port Wentworth, Rincon, Springfield and Statesboro among other locations.
Local New York Life office to hire 14 agents
New York Life’s Savannah general office plans to add 14 agents before the end of 2014.
“We are seeking individuals to join the more than 50 New York Life agents in Savannah and the surrounding areas,” said Wayne W. Harrison, managing partner of the Savannah office. “New York Life continues to invest significantly in training new and experienced agents, with the ultimate goal of serving the financial needs of the community.”
Nationwide, New York Life hired 3,460 full time agents in 2013, 62 percent of them women or people who represent their cultural markets.
For more information, go to New York Life’s recruiting websites
http://www.savannah.nyloffices.com, http://www.newyorklife.com/careers/sales-careers and www.nylcareersforwomen.com.
Parrot Head Club donates to cancer fund
The Savannah Parrot Head Club recently presented a check for $10,200 to the Richardson Prostate Cancer Support Fund at the Curtis and Elizabeth Anderson Cancer Institute at Memorial University Medical Center.
The club raised the money during its eighth annual scavenger hunt and pub crawl on April 12.
Funds raised by the club are used to pay for screenings, community education events and patient assistance with prescription costs and other needs.
“Our downtown merchants and all of our sponsors were crucial in this event’s success, and we are very appreciative of their support,” said club president Tony Aburzzio.
The club is part of a national organization formed to support charitable causes and the music of singer Jimmy Buffet.
