Business in Brief: Young adult career and job fair set for May 16

Young adult career and job fair set for May 16

The 2018 Young Adult Job Fair, for ages 16-24, will be held from 1 to 5 p.m. Wednesday, May 16, at Yavapai Juvenile Justice Center Lawn Area, 1100 Prescott Lakes Parkway, Prescott.

The registration deadline for exhibitors is May 4.

The event is hosted by Yavapai College, Yavapai County Juvenile Justice Center, Goodwill of Central and Northern Arizona and the Northern Arizona Council of Governments.

Country Bank’s parent company shows increased income for first quarter of 2018

State Bank Corp., the holding company for Mohave State Bank and Mohave-owned Country Bank, has announced that its net income increased 29.4 percent to $1.85 million for the first quarter of 2018, as compared to net income of $1.43 million for the first quarter of 2017.

“We started 2018 with another quarter of increased profitability, supported by strong loan and deposit growth and a stable net interest margin,” said Brian M. Riley, president and CEO. “We are well-positioned to continue growing, as we focus on building a steady, well-diversified community bank in Arizona. At the same time, we maintain high levels of liquidity to fund internal growth or to provide capital for opportunities in our market.”

Total assets were $630.4 million at March 31, 2018, an increase an increase of $40.1 million from a year ago.

Community banking organizations, including State Bank Corp. and Mohave State Bank, became subject to increased capital requirements on Jan. 1, 2015, and certain provisions of the new rules will be phased in from 2015 through 2019. The company’s consolidated capital ratios and the bank’s capital ratios exceeded the regulatory guidelines for a well-capitalized financial institution under the Basel III and Dodd Frank Wall Street Reform requirements at March 31, 2018.