Let’s Get Local

06/14/23

We see national headlines of mass layoffs in the tech and residential mortgage industries, calls to come back in the office by major corporations and a slowing housing market. But what about Phoenix metro? Let’s take a look.

Breaking Through the Noise with the Real Story

With all the doomsayers monopolizing the media warning of inflation, continued Fed rate increases, and current/impending recession -- which they insist will result in credit deterioration, banks tightening credit underwriting standards and a “credit crunch” -- a false impression is being cast over the entire industry. Yes, we have seen some very large banks fail within the last few months for a variety of factors both internal and external.

Q1 Financial Position Demonstrates Bank’s Strength

Consolidated earnings were $462,000, or $0.26 per share, for the quarter ended March 31, 2023 compared to $374,000, or $0.21 per share, for the comparative period in 2022. Current quarter consolidated earnings of $0.26 per share were attributable entirely to core operations, whereas prior quarter consolidated earnings of $0.21 per share were comprised of $0.18 per share attributable to core operations and $0.03 per share due to impacts from the Paycheck Protection Program.

Spotlight on Sonoran Learning & Behavioral Services

06/01/23

As Autism diagnosis rates continue to rise, finding quality, compassionate care for children with Autism has become increasingly difficult. Paige and Justin Breeden, co-owners of Sonoran Learning & Behavioral Services, are on a mission to change that.

50% Increase in Earnings From Core Banking Operations YOY

03/10/23

Consolidated earnings were $1,913,000, or $1.06 per share, for the year ended December 31, 2022 compared to $1,918,000, or $1.06 per share, for the comparative period in 2021. While total consolidated earnings in 2022 trailed slightly behind those of 2021, consolidated earnings related to the Company's core operations have increased.