Newspaper Page Text
THE
ACKSON
MW.
H Wednesday, June 30, 2010
ERALD
www.JacksonHeraldTODAY.com
VOL. 136 NO. 3 48 PACES 4 SECTIONS PLUS INSERTS A PUBLICATION OF MainStreet Newspapers, Inc. JEFFERSON, JACKSON COUNTY GEORGIA 30549 75c COPY
— Inside —
Area news:
•Benton holds town
hall meeting .. page 2A
• Braselton's July 4
events announced
page 2A
•School gets initial
OK to open at church
page 3A
Op/Ed:
•'Race for governor
lacking' page 4A
Sports:
•County recreation
department turning 20
this year. page 7B
Features:
•Jefferson man trains
in Israel page 7 C
Other News:
•Public Safety
pages 6-7A
•Legals
pages 6-27C
•Church News
page 71A
•Obituaries
page 10A
•School News
page 8A
O -s
Try Out New E-Edition Free at JacksonHeraldToday.com/eedition
Injection of capital slowing banks’ slide
Banking industry continues to struggle, but stability may be taking hold
THE BELEAGUERED banking indus
try continues to struggle in Georgia, but
there may be signs of some stability.
In the Jackson-Barrow County area
three community banks landed on a
recently published list of troubled Georgia
banks with high ‘Texas ratios” above 100
percent. But a fourth local straggling bank
fell off that list from a year ago, a sign that
perhaps stability may be taking hold in
the industry.
Much of the change — and potential
future change — is due to the injection of
new capital at several local banks.
Although Hometown Community
Bank of Braselton continued to be on
the state’s troubled bank list with a Texas
ratio of 224 percent in March, up from
144 percent a year ago, the injection of
new capital has slowed the bank’s slide.
While high, the bank’s Texas ratio was
down from the fourth quarter of 2009
Area Banks Texas Ratio
(Above 100 only; first quarter)
Bank
2009
2010
First Covenant Bank
110
95
First Georgia Banking
54
138
Hometown Community
144
224
The Peoples Bank
64
232
Area Banks Troubled Assets
(As of March 2010)
First Covenant Bank
First Georgia Banking
Hometown Community
The Peoples Bank
when it hit 263 percent.
While the bank’s assets and deposits
both saw growth between March of 2009
and March 2010, its troubled assets grew
from $14 million last year to $20 million
in March 2010. Like many other banks
in the area, it also had a loss in the first
quarter of $397,000.
“We feel as though 2nd quarter 2010
will reflect improvement in nonperform
ing loan totals and we have seen some
slight improvement in activity related to
the residential real estate sector.” said
Sean Childers, president of Hometown
Community Bank. ‘‘We also feel our
Texas ratio number will drop again during
2nd quarter 2010.”
Childers said much of that is due to new
capital.
“Due to the support of our community
and shareholders our board was able to
facilitate a capital injection of over $3
million with an additional injection of
approximately $1 million during the 2nd
and 3rd quarters of 2010,” he said. “Based
on these capital injections, Hometown
Community Bank will have the strongest
capital position it has had since the eco
nomic crisis began. The bank has also
maintained near a 30 percent liquidity
ratio the past several months adding fur
ther stability to our institution.”
OTHER AREA BANKS
Another area bank that injected new
capital in 2009 was First Commerce
Bank, also known as First Covenant Bank,
in Commerce. That bank saw its Texas
ratio fall from 110 in March 2009 to 95 in
March of this year, a hopeful trend.
While First Commerce had a loss of
$590,000 in the first quarter, its troubled
asset portfolio fell from $18.3 million in
March 2009 to $15.1 million in March
2010.
A third area bank is also straggling with
a high Texas ratio. First Georgia Banking
Company had a ratio of 138 in the first
quarter of 2010, up from 54 a year ago.
continued on page 5A
$15.1 million
$64.6 million
$20 million
$55 million
^
BALLOON ANNIMALS
Casey Strickland, 9, receives a dog as a balloon animal from an artist at the City
of Jefferson’s fireworks event Saturday night at the city’s recreation complex. See
page 12A for more photos from the Freedom Festival. Photo by Katie Huston
DFCS sees increased employee turnover
BY SHARON HOGAN
A LOT OF turnover is taking
place in the Jackson County
Department of Family and
Children Services office in
Jefferson.
Director Jacqueline Franklin
told board members on
Wednesday, June 23, at the
monthly board meeting, “We
are experiencing a lot of turn
over. We are able to replace
these positions. We are looking
for case managers currently.”
FOR THE Fourth of July
holiday weekend, the Georgia
Department of Transportation
is advising motorists to expect
delays, plan ahead and be
patient.
“We anticipate that with
Independence Day falling
on Sunday, there will be
numerous people extending
the weekend.” said Georgia
DOT Commissioner Vance C.
Smith Jr. “Traffic congestion
on Thursday and Friday will
be heavier than normal, with
rash hour beginning as early as
1 p.m. in high-volume areas.
Monday could also be very
busy, with people returning
from the long holiday combined
with regular rash hour.”
In metro Atlanta, those areas
include, but are not limited to
the following areas:
•1-75/85 southbound (Down-
Franklin said she was not
sure if the turnover is due to the
furlough days or not.
“My staff is trying to remain
positive.” Franklin said.
Franklin reported during the
month of May, 762 people came
in to the front office in Jefferson
compared to 736 in April and
916 in March.
OTHER BUSINESS
In other business at
Wednesday’s monthly board
meeting:
town Connector)
•1-285 on the top end
•SR 400 in both directions
•1-85 in Gwinnett County
•1-75 in Cobb County
•1-75 Southbound in Clayton
and Henry counties.
As a reminder. Georgia DOT
will suspend construction-
related lane closures on all
interstates and major state
routes from 5 am. Friday, July
2, until 5 a.m„ Tuesday, July
6.
Check the maps on www.
georgia-navigator.com for
current road conditions, or call
511 on any phone for free,
real-time traffic information.
Traveler information is also
available at www.511ga.org
and a toll-free number for
callers from outside the state,
1-877-MYGA511 (1-877-694-
2511).
•Franklin asked for donations
of patio/lawn furniture for the
outside employee break area at
the DFCS office.
•Franklin reported she is cur
rently getting bids on an outside
storage building. “As you can
see, we have stuff stored in the
hallways and we really need
a storage building,” Franklin
said.
•Franklin presented the coun-
continued on page 5A
Unemployment
up in Jackson
UNEMPLOYMENT rates
in Barrow and Jackson coun
ties remained above 10 percent
in May, but Barrow had some
improvement in its standing.
The unemployment rate in
Barrow fell .1 points to 10 per
cent from April’s 10.1. May’s
rate in Barrow was identical to
May 2009 numbers.
In Jackson County, the
unemployment rate rose in
May to 10.7 percent, up from
10.6 in April. Jackson’s rate
this year was higher than May
2009 when it was 10.2 per
cent.
Jackson and Barrow’s rates
were among the highest in
Northeast Georgia. Elbert
County had the highest rate
in the NEGA area at 12.4 per
cent.
DOT: Expect travel delays
Early voting held
through July 16
BY ANGELA GARY
EARLY VOTING for the
July 20 election will be held
through July 16.
Voters may cast a bal
lot from 8 a.m. to 5 p.m.
Mondays through Fridays in
the Administrative Building
in Jefferson through July 9.
The next week, voting will
be held from 9 a.m. to 7
p.m. in the Administrative
Building and the satellite vot
ing precincts in Commerce
and Braselton.
Voter registration will be
held on July 2 even though
county offices will be closed
for a furlough day. On this
day, entry into the building
will only be on the double
doors that face Hwy. 129/
Athens Street.
Voting will not be held on
Monday, July 5, in obser
vance of the Independence
Day holiday.
As of noon Monday, 26
people had voted early in the
Democratic Primary, 178 in
the Republican primary.
The only local race is in
the West and North Jackson
areas for the District 5 seat
on the Jackson County Board
of Education. Steven Bryant
and Randall Skelton are both
seeking this seat. Incumbent
Jill McEver is not seeking
re-election.
The State Senate District
47 seat that covers Jackson
County will also be on the
ballot. Those to qualify were:
Kelley Gary, Shane Coley,
Doug Bower and Frank Ginn,
all Republicans, and Tim
Riley, a Democrat. Incumbent
Ralph Hudgens (R) is run
ning for state insurance com
missioner.
In the State Senate District
49 seat that covers a portion
of Jackson County, Butch
Miller and Jimmy Norman,
both Republicans, qualified.
QUESTION ON
REPUBLICAN BALLOT
The Republican ballot will
also have the following ques
tion on it: Do you support an
amendment to the Georgia
State Constitution so as to
provide that the paramount
right to life is vested in each
human being from the earliest
biological beginnings until
natural death?
STATE-WIDE RACES
Among those to be on the
ballot for state-wide races
include:
•Governor: Jeff Chapman,
(R) Alpharetta; Nathan
Deal, (R) Gainesville; Karen
Handel, (R) Alpharetta; Eric
Johnson, (R) Atlanta; Ray
McBerry, (R) McDonough;
John Oxendine, (R) Norcross;
Otis Putnam, (R) Brunswick;
Thurbert Baker, (D) Atlanta;
Roy Barnes, (D) Marietta;
Bill Bolton, (D) Marietta;
Carl Camon, (D) Ray City;
Randall Mangham, (D)
Decatur; DuBose Porter. (D)
continued on page 5A
Nicholson fireworks ahead
THE CITY OF Nicholson will hold its annual July 4th cel
ebration beginning at 6 p.m. on Saturday, July 3, in the park.
The fireworks show will begin at dark.
There will be a variety of food vendors and inflatables for
the kids, leaders state.
The Dalton Gang will perform at 6 p.m. and the GTO’s will
play at 7:30 p.m.
“Come join us for an evening of good music, food and fun
for the whole family,” leaders say.
If you have any questions or for more information, call
Nicholson City Hall at 706-757-3408.
JH office to be closed Friday
THE JACKSON HERALD office will be closed on Friday in
observance of the Independence Day holiday. The office will
be open on Monday, July 5.
The deadlines have not been changed for next week’s issue.
O