Newspapers / The Yancey Journal (Burnsville, … / Aug. 5, 1976, edition 1 / Page 18
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PAGE 18 THE YANCEY JOURNAL AUGUST 5, 1976 IVW w tiOrp Results Northwestern Financial j Corporation reported consoli dated income before security transactions for the six months ended June 30, 1976, of $3,588,945 or 71 cents per share against $3,556,111 or 71 cents per share for the comparable 1975 period. Net income, after security trans actions, was up 3.0 percent at $3,626,841 or 72 cents per share in the first half of 1976. Figures have been restated to include Northwestern Finance Company which was merged into Northwestern Financial at year-end 1975, and per share numbers have been adjusted to reflect the 10 percent stock dividend paid June 21, 1976. For the second quarter, income before security trans actions was $1,701,178 or 34 cents per share, down 10.3 percent from $1,896,822 or 38 cents per share. Net income, after security transactions, for the quarter was 34 cents per share down from 37 cents per share in the comparable 1975 period. Corporate results indicate solid operating gains for The Northwestern Bank, M & J Financial Corporation and Northwestern Factors, Inc.; while Northwestern Security Life Insurance Company was impacted adversely by sub stantially higher commission expense and First Atlantic Corporation by costs associ ated with clearing up its warehouse portfolio and its discontinued insurance agen cy operation. Total deposits of The Northwestern Bank at the end of the period were $1 ,002,551, 000, an increase of approxi mately $63 million over a year ago. As of June 30, 1976, The Bank ranked 89th in the nation in total deposits, up from 92nd at the beginning of the year. Demand deposits increased $7 million or 2.2 percent; savings, $44 million or 21.5 percent, and time deposits, sl2 million or 2.9 percent. In the latter cate gory, large negotiable certifi cates of deposits (SIOO,OOO or more) decreased s4l million to $l3O million since year-end 1975 as planned and, during the same period, consumer certificates of deposits have increased $25 million to a total of slOl million. Economic indicators point to the conclusion that the recovery is continuing, al though some slowing in the latfe of growth is evident. This stowing is a positive factor in that it should lead to a more substantial upward trend. In North Carolina retail spend ing is rising, business activity is improving, and unemploy ment is declining but remains high historically. The housing industry has made some recovery but » still fragile. The upward trend in retail sales indicates that consumer confidence is rising, but fears of renewed inflation and high unemployment persist. Some modest increase in interest rates is likely over the balance of the year. The Corporation has performed well under various economic conditions, and the outlook for the second half of 1976 is reasonably piMitivc. 0 3kHt& to HOMEMAKERS Superb Iced Coffee Some of the 140 billion cups of coffee consumed in America this year will cer tainly be served to your guests, so why not vary your entertaining and make the coffee iced? Here’s how to make it; Yqu can start off with strong coffee, poured over ice in tall glasses. Then top it off with generous helpings of sugar and light or whipped cream. •*. An alternative method is to prepare medium coffee. Cool v it and then pour it into I your ice cube trays and freeze. Then when it’s time to serve your guests, prepare some more medium coffee and pour it over the coffee cubes. Add sugar and cream •**l you’ll get a delicious I rich coffee that won’t be diluted as you drink. Whichever way you choose to make iced coffee, there’s one electric drip coffeemaker that will make it superbly be cause it will brew the hot ooffee to the strength you de sire Norelco Dial-A-Brew I makes 6 to 12 cups and sat isfies individual wants for dark, medium or light coffee. To cool off in the heat of Summer, heat up some coffee, - .... i mm n's nr n* r irS VOU.EYDALE £l3O W MF BP,BIIIrTIIO mm mn&gr IsSSew \ \y siw *4<k iM* 1 peaches 2/ 89^ gssww IjjMS&l p!| iss^ ? 9 1 , f 1 ‘ ’" ■— J < J Fw -c'-j.v .* . . # ’''l , * \ ..
The Yancey Journal (Burnsville, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Aug. 5, 1976, edition 1
18
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