Current News

Merchants Bancshares, Inc (NASDAQ: MBVT), the parent company of Merchants Bank, and NUVO Bank & Trust Company have revealed details of the acquisition terms first reported on Monday. The banking companies have jointly announced the signing of a definitive agreement pursuant to which Merchants Bancshares, Inc will acquire NUVO Bank & Trust Company for approximately $21.8 million in stock and cash, which represents $7.15 per share.

Headquartered in Springfield, Massachusetts, NUVO is small financial institution focused on providing business loans, deposits and cash management services to small and medium-sized businesses and individuals in western Massachusetts. At December 31, 2014, NUVO reported approximately $153 million in assets, $139 million in loans and $134 million in deposits. Merchants had approximately $1.7 billion in total assets as of December 31, 2014, with total shareholders' equity of approximately $125.8 million.

The parent company of Berkshire Bank, Berkshire Hills Bancorp, Inc (NYSE: BHLB), has reported $0.50 in core earnings per share in the first quarter of 2015, which was a 19% increase over first quarter results in the prior year. Profit growth has been due to higher revenues from continued business momentum. First quarter core EPS increased by 4% from $0.48 in the fourth quarter of 2014. GAAP EPS totaled $0.35 per share in the most recent quarter compared to $0.46 in the linked quarter. Earnings in both periods were impacted by non-core charges related primarily to growth and restructuring, including charges related to the acquisition of Hampden Bancorp, which was completed on April 17, 2015.

FIRST QUARTER FINANCIAL HIGHLIGHTS (comparisons are to prior quarter unless otherwise stated):

All teens are at risk for substance abuse, and parents are the #1 influence on their decision to not drink alcohol or do drugs. The Vermont Department of Health has just redesigned and expanded its ParentUpvt.org website to include many new resources and interactive tools that take into account differing parenting styles.

“By setting clear rules, limiting access to alcohol and refusing to host underage drinking parties, parents can protect children from consequences that may affect them for the rest of their lives,” said Deputy Commissioner Barbara Cimaglio.

Teens who drink before the age of 15 are more likely to experience academic failure, engage in risky sexual behavior, become alcohol dependent and develop other substance abuse problems.

Brattleboro Memorial Hospital and Jennings has been recognized by the 32nd Annual Healthcare Advertising Awards with a Gold and Silver Award in recognition of the hospital’s Emergency Department “Rapid Care” campaign. With nearly 3,500 entries, the Healthcare Advertising Awards, sponsored by the Healthcare Marketing Report (HMR), is the oldest, largest and most widely respected advertising awards competition in the country and one of the ten largest of all advertising awards.

Brattleboro Memorial Hospital’s Rapid Care campaign was comprised of various print, digital, and direct mail pieces that utilized a striking blue background offset with large, white icons depicting various accidents, such as falling off a ladder or toppling over the handlebars of a bicycle.

After an extensive search committee process, Bobbe Maynes, the President of the Board of Directors of the Cancer Patient Support Foundation, (CPS) announced that Sarah Lemnah, of St. Albans, was named the first executive director. CPS has been providing services and support to cancer patients and their families in Vermont and northern New York for over 14 years.

Lemnah previously was the Director of Development & Communications for Champlain Valley Agency on Aging for 9 years. She is the past president of VERG (Vermont Elder Resource Group) and was formerly the producer and host of "Aging Matters" heard on WOKO/WKOL/WJOY/WIZN/WBTZ. In addition, she was a contributing columnist on health and aging issues for Vermont Maturity Magazine and the Burlington Free Press.

by Mike Barwell Dartmouth-Hitchcock (D-H) is among 100 leading employers named by the White House and US Department of Labor committed to helping millions of front-line workers climb up the career ladder and earn higher wages. The announcement was made Friday at the White House Upskill Summit.

The Obama Administration announced new steps to help realize the full potential of America’s workforce by empowering workers with the education and training they need to develop new skills and earn higher wages. During his State of the Union address earlier this year, the President launched a new Upskill Initiative, calling on businesses to help workers of all ages earn a shot at better, higher-paying jobs, even if they do not have a higher education.

Vermont was first in the nation to deliver supplemental food to young families through the Health Department's WIC (Women, Infants & Children) program, and for years was last in the nation to keep making home deliveries. Beginning in July in Rutland, WIC families will choose their foods at major supermarkets and smaller grocery stores using a new, gold WIC debit card. Between October 2015 and March 2016 the WIC card will roll out to families statewide.

"Being able to shop throughout the month, when families need food, provides more flexibility for families," said Health Commissioner Harry Chen, MD. "The card is about convenience, choice and control."

WIC, the federal special supplemental nutrition program for Women, Infants and Children celebrated its 40th anniversary last year. WIC has helped pregnant women, new mothers, and young children eat well, learn about nutrition and stay healthy.

Vermont Federal Credit Union was recently honored with a Governor’s Excellence in Worksite Wellness Award. In recognition of their efforts to promote the health and wellness of employees over the past year, Vermont Federal Credit Union received a Governor’s Excellence in Worksite Wellness award. The award was presented at the 2015 Worksite Wellness conference at the Sheraton Hotel & Conference Center in Burlington. There to accept the award on behalf of the Credit Union were Kellie Oliver, Human Resources Specialist, and Cynthia Turner, Vice President of Human Resources at the Credit Union.

Merchants Bancshares, Inc (NASDAQ: MBVT), the parent company of Merchants Bank, today announced net income of $3.34 million, or $0.53 per basic and diluted share for the first quarter of 2015. This compares to net income of $3.40 million, or $0.54 per basic and diluted share for the first quarter of 2014. The return on average assets was 0.78% for the three months ended March 31, 2015, compared to 0.81% for the same period in 2014. The return on average equity was 10.56% for the three months ended March 31, 2015, compared to 11.31% for the same period in 2014. Merchants Bancshares' Board of Directors approved a dividend of $0.28 per share, payable May 25, 2015, to shareholders of record as of May 11, 2015.

Vermont Public Radio has won three regional Edward R Murrow Awards, including recognitions for Continuing Coverage, Writing and Website from the Radio Television Digital News Association (RTDNA).

“As a public broadcaster, we are accountable to the community we serve,” said VPR News Director John Dillon. “We are honored to receive these awards because they go to the heart of VPR’s mission to provide an essential and trusted independent voice for news and information in our region.”

The winning coverage includes:

Continuing Coverage of drug addiction in Vermont.

Website, for VPR.net’s overall news content.

Vermont State Treasurer Beth Pearce today released a report that documents a long-term process of constructive engagement efforts to address environmental, social and governance issues related to climate change. The report details actions taken and planned next steps in the administration of state funds and pension fund investments under the custody of the Treasurer’s office.

“As State Treasurer, it’s important to me that we meet our investment targets while ensuring that our partners live up to the Vermont values of corporate and social responsibility,” said Pearce. “The report released today demonstrates how Vermont has used its position as an investor to engage with national and global businesses on the critical issues related to climate change. My hope is that this report will stimulate further discussion of ways Vermont may constructively engage with our partners.”

United Way of Chittenden County notified 27 agencies that the United Way grants supporting their local community programs will be sustained for FY2015. This continued funding commitment begins the second year of a new three-year funding cycle that United Way launched last year. The announcement is a result of a successful 2014 Community Campaign that raised $3.85 million from which United Way is investing $1,845,615 to support local programs in 2015. United Way leverages program funding with advocacy, volunteer recruitment and management and by uniting nonprofits, businesses and community leaders to collaborate.