Shenandoah Valley Business Journal - Dec. 23, 2016

A Byrd Newspapers Publication

Volume 17, No. 2, December 27, 2016

Valley Lawyers Honored As The 2016

Legal Elite Best Of The Bar

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SHENANDOAH VALLEY BUSINESS JOURNAL

Tuesday, December 27, 2016

Inside This Issue The Shenandoah Valley Business Journal is a monthly publication of Rockingham Publishing Company, Inc., 231 S. Liberty St., Harrisonburg, VA 22801.

Editorial Staff

Focus Section: Legal Elite ■ List of Honorees............................................Page 6

Other Business News ■ New Era At SVRA As ViaAir Takes Off..............Page 3

Editor and General Manager: Peter S. Yates

■ BB&T Regains Top Spot In Deposit Rankings.........Page 9 ■ Local Ledger................................................Page 10

Managing Editor: Jerry Blair

Columns

Staff Writers: Vic Bradshaw

Harrisonburg, Va.

Contact us By mail: Shenandoah Valley Business Journal P.O. Box 193 Harrisonburg, VA 22803 By email: svbjnews@dnronline.com By fax: 433-9112 By phone: 574-6267 (news) 574-6229 (ads)

On The Cover:

■ Financial Focus with Kathy Armentrout..........Page 4

Stock image

Contributing Photographers: Nikki Fox

Wilson To Lead Poultry Research HARRISONBURG — Todd Wilson, a Page County native who has worked in the poultry industry locally, has been named general manager of a poultry research company’s North American operations.

Wilson moved from a post with Tyson Foods, a company he’d worked for since 1989, to work for Cobb-Vantress Inc. in Wilson Siloam Springs, Ark., according to a press release. The company develops, produces and sells broiler breeding stock.

After earning a bachelor’s degree in poultry science at Virginia Tech, he

worked as a hatchery manager in Broadway before moving into different positions with Tyson.

— Vic Bradshaw

Gonyer New CEO For Choice Books HARRISONBURG — Choice Books, a Rockingham County company that distributes inspirational reading materials across the U.S. and Puerto Rico, has chosen Ken Gonyer as its CEO, according to a news release.

A Broadway resident, Gonyer graduated from James Madison University in 1989.

Most recently, he spent 15 years as a senior executive in marketing, sales and retail services for Park View Federal Credit Union.

Gonyer succeeds John Bomberger, who See MOVERS, Page 4

Rosetta Stone Narrows Loss HARRISONBURG — Rosetta Stone (NYSE: RST) released financial results Monday that show that while the company is still bleeding, its restructuring efforts might be acting as a tourniquet.

The Arlington company reported a loss of $5.5 million, or 25 cents per diluted share, for the third quarter compared to $7.3 million, or 34 cents per share during the third quarter of 2015. Rosetta Stone announced a restructuring effort in March 2015, with emphasis on its Global Enterprise and Education business.

Though revenue fell to $48.7 million from $49.8 million the previous year, a seventh straight quarter of year-over-year operating-expense reductions allowed the technology-based

language learning company to narrow its overall losses. Operating costs fell $5.2 million to $44.5 million, down 10 percent from the previous year.

Founded in Harrisonburg more than 20 years ago, Rosetta Stone maintains a presence in the city.

— Vic Bradshaw

Cadence Launches New Website STAUNTON — Cadence Inc. launched a new microsite to highlight its Product Realization Center in Pittsburgh, according to a December company press release announcing the updated website.

The website, cadencedevice.com, better reflects Cadence’s position as a full-service medical device contract See SCENE, Page 3

Harrisonburg, Va.

SHENANDOAH VALLEY BUSINESS JOURNAL

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New Era At SVRA As ViaAir Takes Off

By VIC BRADSHAW Daily News-Record

WEYERS CAVE — Sue Ganey of Harrisonburg was headed to the Dallas area for work.

Staunton’s Dolores Curry was bound for Miami to visit a sick friend.

And 12-year-old Allie Kanupp of Charlotte, N.C., was flying home after visiting her father in the Valley.

All three, plus 18 others, were part of local aviation history Nov. 30 as they flew on ViaAir’s inaugural flight from Shenandoah Valley Regional Airport to Charlotte Douglas International Airport. It was the first regularly scheduled daily flight on a regional jet in the airport’s history.

The trip didn’t go off without a hitch. Bad weather prevented ViaAir’s jet from landing at the Weyers Cave airport the night before and delayed its departure from Lewisburg, W.Va., that morning.

As a result, the wheels weren’t up on the 8:15 a.m. flight until 11:03.

All five members of the Shenandoah Valley Regional Airport’s governing commission saw the ViaAir jet touch down at 9:59 a.m.

Four still were around to witness the plane take off for Charlotte.

“I’ve been waiting a long time for jets,” Joe Bowman, Harrisonburg’s commission representative, said with a smile as he watched from the terminal as passengers boarded the plane.

Long Process The maiden voyage was the culmination of years of hard work and a frenzied last five weeks as airport officials worked to transition from Silver Airways’ service to and from Washington Dulles International Airport in suburban D.C.

Greg Campbell, the local airport’s executive director, said he began lobbying ViaAir and other carriers to serve SVRA about two years ago. As a result, multiple airlines sought to provide service to SVRA when the contract bidding period opened earlier this year.

After two rounds of bids, ViaAir’s offer of two flights daily to and from Charlotte on weekdays and a flight each way on Saturday and Sunday was recommended by the commissioners and selected by the U.S. Department of Transportation, which subsidizes local service.

The Orlando, Fla., airline and SVRA, however, worked out a side deal. Starting Dec. 11, it began offering flights on Wednesday and Sunday that stop in Charlotte before continuing on to Orlando.

“We’re excited to see how things unfolded,” Campbell said.

Though tickets had only been available for about a month, Campbell said more than 1,000 had been sold at low promotional rates as of Nov. 28. That was a big sales day, he said, as 200 tickets were bought thanks to ViaAir’s cyber-Monday special of $79 for oneway travel to and from Orlando.

Campbell said Orlando flights from Dec. 21 into early January were full.

Regional jet service to Charlotte is viewed by many in the local business community as a potential boon from an economic development standpoint.

That’s why Frank Tamberrino, president and CEO of the Harrisonburg-Rockingham Chamber of Commerce, waited more than three hours Wednesday to snap a photo of the inaugural flight and post it to the organization’s Facebook page.

“I think this is going to be a big win for the area and the airport,” he said. “Just com-

Rosetta Stone Restructured In 2015 Scene

FROM PAGE 2

F&M Listed Among Top Lenders

manufacturer, according to the release.

The website design is mobile-friendly and makes it easier for medical device professionals to explore how Cadence Device can partner with them, the release states.

Cadence employs 450 people with headquarters in Staunton, and other locations in Pennsylvania, Rhode Island and Wisconsin.

HARRISONBURG — Farmers & Merchants Bank ranked third in the nation this year in local production among community banks with $500 million to $1 billion in assets, according to Independent Banker magazine.

The bank, headquartered in Timberville, was included on the publication’s

— Staff Reports

See SCENE, Page 9

Nikki Fox / DN-R

Shenandoah Valley Regional Airport Commission member Jeff Ward of Waynesboro waves goodbye as he boards the first ViaAir flight leaving SVRA for Charlotte, N.C., on Nov. 30. ing down here, seeing the inaugural flight off, I think, was important from the business standpoint.”

Special Trip Among the first day’s passengers were Kevin Craun, his wife, Patti, and their daughters, Rachel, 12, and Sarah, 10, who live in Rockingham County south of Mount Crawford.

ViaAir’s first flight coincided with their plans to fly to Florida, visit Daytona Beach, then travel back to Orlando to watch Kevin’s and Patti’s alma mater, Virginia Tech, play Clemson for the Atlantic Coast Conference championship in football.

At least six people, however, were aboard to be part of the historic moment, with none more excited than Jamison McCarty.

The Staunton aviation enthusiast and his mother, Elizabeth, were allowed by ViaAir to fly for free because of the teen’s enthusiastic following of the bid process and analysis of the competing bids and the potential impact for the area. They planned to visit the Carolinas Aviation Museum before catching the afternoon flight home.

“I think with regional jet service, it will attract a lot more people, so I’m very excited about this for the Valley,” the Stuart Hall See VIAAIR, Page 11

“SELLING THE MOUNTAIN... AND THE VALLEY”

(540) 289-6335 (800) 931-0400 www.MassanuttenRealty.com View over 2000 Properties Jason Mitchell, Realtor

540-820-9517

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Tuesday, December 27, 2016

SHENANDOAH VALLEY BUSINESS JOURNAL

Harrisonburg, Va.

Consider Some New Year’s (Financial) Resolutions

W

e’re just about ready to open the door to 2017, so you might be thinking about New Year’s resolutions.

What’s on your list this year? More visits to the gym? Learning a new language?

Mastering the perfect beef bourguignon?

All worthy ambitions, of course, but why not also include some financial resolutions?

By reviewing your needs and goals, you can identify some resolutions that are particularly relevant to your own situation. But here are a few suggestions:

Build An Emergency Fund If you needed a major car repair or a new furnace, or faced some other large, unanticipated expense, could you cope with it?

If you didn’t have the money readi-

ly available, you might have to dip into those investments intended for longterm goals, such as retirement. Instead, build an emergency fund containing three to six months’ worth of living expenses, kept in a liquid, low-risk account.

Financial Focus

Cut Down On Debts It’s not easy to cut down on one’s debt load. But if you can find ways to reduce your debts, you’ll help improve your overall financial picture.

Many debts are not “useful” — that is, they don’t carry any tax advantages — so every dollar you spend to pay down those debts is a dollar you could use to invest for your future.

Boost Retirement Contributions If your employer offers a 401(k) or sim-

Kathy Armentrout ilar retirement plan, take full advantage of it.

Your earnings have the potential to grow tax deferred and your contributions may lower your taxable income. Plus, most plans offer a selection of investment options, so you can choose the investment mix that fits your objectives and risk tolerance.

Therefore, if your salary goes up this year, or if you think you can find other ways to free up some money, increase your contributions to your retirement plan.

Review Your Portfolio Is your investment portfolio still on track See FINANCIAL, Page 11

About 250 Staff, Volunteers At Choice Movers

FROM PAGE 2

spent 23 years with the company before retiring in September.

Located on Grace Chapel Road just outside the southwestern city limits, Choice Books’ approximately 250 staff members and volunteers buy inspirational Christian books in English and Spanish from more than 80 publishers and sell them through more than 11,350 displays in various retail locations.

— Vic Bradshaw

Lawyers Attend Tax Conference HARRISONBURG — Michael Layman, Mac Nichols and Karen Rowell of Layman & Nichols in Harrisonburg attended the 62nd Annual William & Mary Tax Conference in Williamsburg Nov. 9-11.

The conference’s theme was “Intelligent Tax Planning to Combat Increasing Federal and State Taxes.”

Tax planning is among the areas of law in which the local firm specializes.

— Vic Bradshaw

WAW Adds Humphreys, Pangle HARRISONBURG — Wharton Aldhizer & Weaver has added Alexandra Humphreys and Lucas Pangle to its attorney roster.

Humphreys graduated from the William & Mary School of Law after receiving an undergraduate degree from the College of Charleston in South Carolina. While in law school, she worked as a student attorney in family law and domestic violence clinics.

Her practice will focus on civil litigation and family and domestic law.

Pangle also graduated from William & Mary’s law school after majoring in neuroscience at Duke University in Durham, N.C. In law school, he was a member of the William & Mary Law Review, a legal extern for a hospital and assisted a professor’s work on the interactions of neuroscience and the law.

Corporate, commercial and business law, intellectual property, and civil litigation are Pangle’s specialty areas.

WAW is a full-service law firm with offices in Harrisonburg and Staunton.

— Vic Bradshaw See MOVERS, Page 10

Harrisonburg, Va.

SHENANDOAH VALLEY BUSINESS JOURNAL

Tuesday, December 27, 2016

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Tuesday, December 27, 2016

SHENANDOAH VALLEY BUSINESS JOURNAL

Harrisonburg, Va.

An Elite Group Virginia Business Magazine named 26 lawyers from Harrisonburg, Rockingham and the surrounding area as

Legal Elites

Alternative Dispute Resolution

Taxes, Estates, Trusts And Elder Law

P. Marshall Yoder

Jeffrey R. Adams

Donald E. Showalter

Matthew Von Schuch

Wharton Aldhizer & Weaver PLC Harrisonburg

Wharton Aldhizer & Weaver PLC Harrisonburg

Wharton Aldhizer & Weaver PLC Harrisonburg

Wharton Aldhizer & Weaver PLC Harrisonburg

Harrisonburg, Va.

SHENANDOAH VALLEY BUSINESS JOURNAL

Tuesday, December 27, 2016

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Bankruptcy And Creditors’ Rights Dale Alan Davenport

Hannah White Hutman

Hoover Penrod PLC Harrisonburg

Hoover Penrod PLC Harrisonburg

Stephan William Milo

Bill Shmidheiser

Wharton Aldhizer & Weaver PLC Harrisonburg

Lenhart Pettit PC Harrisonburg

Labor And Employment Lauren R. Darden

Melisa G. Michelsen

Thomas E. Ulrich

Cathleen Patricia Welsh

Wharton Aldhizer & Weaver PLC Harrisonburg

Litten & Sipe LLP Harrisonburg

Wharton Aldhizer & Weaver PLC Harrisonburg

Lenhart Pettit PC Harrisonburg

Business Law George Roberts

Mark W. Botkin

Lenhart Pettit PC Harrisonburg

BotkinRose PLC Harrisonburg

Civil Litigation Derek J. Brostek

Charles F. Hilton

Wharton Aldhizer & Weaver PLC Harrisonburg

Wharton Aldhizer & Weaver PLC Harrisonburg

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SHENANDOAH VALLEY BUSINESS JOURNAL

Tuesday, December 27, 2016

Construction Law

Harrisonburg, Va.

Family Law And Domestic Relations

Gregory Thomas St. Ours

Wharton Aldhizer & Weaver PLC Harrisonburg

Intellectual Property Daniel L. Fitch

Wharton Aldhizer & Weaver PLC Harrisonburg

Health Law

Humes J. Franklin III

Glenn M. Hodge

Wharton Aldhizer & Weaver PLC Harrisonburg

Wharton Aldhizer & Weaver PLC Harrisonburg

Legal Services And Pro Bono John E. Whitfield

Legislative, Regulatory And Administrative Jason J. Ham

Blue Ridge Legal Services Inc. Harrisonburg

Litten & Sipe LLP Harrisonburg

Real Estate And Land Use Lisa Anne Hawkins

James L. Johnson

Lenhart Pettit PC Harrisonburg

Wharton Aldhizer & Weaver PLC Harrisonburg

Young Lawyers Andrew S. Baugher

Ashley H. Waterbury

Lenhart Pettit PC Harrisonburg

Wharton Aldhizer & Weaver PLC Harrisonburg

Harrisonburg, Va.

SHENANDOAH VALLEY BUSINESS JOURNAL

Tuesday, December 27, 2016

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BB&T Regains Top Spot In Deposit Rankings

By VIC BRADSHAW Daily News-Record

HARRISONBURG — A large regional bank has regained the top spot from a national competitor in deposit rankings for the Harrisonburg metropolitan area, and the top three banks increased their share of the market.

Branch Banking and Trust, which has nine branches in Harrisonburg and Rockingham County, added $31 million in deposits from July 1, 2015, to June 30, 2016, to jump from the No. 3 position in the market to No. 1. BB&T last held the top spot as of the June 30, 2011, rankings.

Farmers & Merchants Bank grew its total deposits by $10.2 million to $397.8 million to remain the market’s second-largest bank by deposits.

Wells Fargo Bank, the market leader for the last four years, added $7.1 million in deposits but fell two spots to No. 3 in the market.

The top three banks are separated by

only $17 million in deposits.

The deposit data, which is updated annually, was released Sept. 30 by the Federal Deposit Insurance Corp.

BB&T’s deposit surge lifted its total to $411.8 million, making it the market’s first bank with more than $400 million in deposits in the annual report. That amount is 19.12 percent of the $2.15 billion banks hold for local customers.

Rebecca Brown, cluster market leader for three local branches operated by the Winston-Salem, N.C., banking company, said the experienced staff at each area office contributed to BB&T’s return to the top of the rankings, as did the bank’s approach to meeting client needs.

“I think a big part of our success is due to the collaborative effort between our branch managers in conjunction with our small business specialists and our commercial teams,” she said. “They all work really well together and take a very consultative approach with our clients.

“Sometimes, there are many people helping our clients to see what fits best.”

Timberville-based F&M, which has an 18.47 percent market share based on deposits in its six Harrisonburg and Rockingham County branches, also edged ahead of Wells Fargo.

That national bank, headquartered in San Francisco, has five local branches, which hold 18.33 percent of the market’s deposits.

The top three banks grew their combined market share by 1.78 percentage points over the year, reaching 55.92 percent.

Their lead over fourth-ranked Bank of America grew considerably.

The Charlotte, N.C.-based company jumped into the No. 4 spot a year ago with a $110.2 million year-over-year increase in deposit holdings as of June 30.

This year, however, its deposits dropped by $78.4 million to $186.6 million United Bank’s deposits dipped by $321,000 in the year, but it retained its hold on the No. 5 spot.

The biggest mover on the local banking list was Blue Ridge Bank, which

Bank Of The James Also Recognized Among Loan Producers Scene

FROM PAGE 3

list of Top 50 Overall Loan Producers for 2016 because its net loans and leases amounted to 89.1 percent of its total assets. Farmers & Merchants, which has more than $650 million in total assets, held down the 14th spot in the 2015 listing.

The only other bank with local operations recognized in any of Independent Banker’s lists was Bank of the James,

which has a branch at 1391 S. High St. The Lynchburg-based bank ranked 47th among the Top 50 Overall Loan Producers, lending 82 percent of its assets.

Multiple listings of top community banks were printed in the July edition of Independent Banker, published by the Independent Community Bankers of America trade group.

Farmers & Merchants operates 12 branches in Rockingham, Shenandoah and Augusta counties and the cities of

Harrisonburg and Staunton; VBS Mortgage in Harrisonburg; a production office for vehicle loans in Penn Laird; and a commercial lending office in Fishersville.

— Vic Bradshaw

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operates branches in Harrisonburg and McGaheysville. It grew its deposits to $37.3 million from $21.2 million during the year, a 76 percent jump, and moved up three spots in the rankings to No. 11.

Jonathan Comer, the Luray-based bank’s Harrisonburg market president, said he thinks Blue Ridge’s “jackpot” savings accounts, which offer clients an opportunity to win prizes periodically, are part of the reason for the bank’s rise.

“We’re the only bank in the United States that has that, and people think it’s pretty neat,” he said. “To have no competition for a product is helpful.”

Comer added that he thinks the city branch, opened in early 2014, is “hitting stride,” and clients are being drawn to Blue Ridge’s lower fee structure for business accounts and higher certificate of deposit rates than some other banks.

The bank continues to add customers, as deposits have risen by $5 million since June 30.

See BB&T, Page 11

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SHENANDOAH VALLEY BUSINESS JOURNAL

Local Ledger

Master’s From JMU Movers

FROM PAGE 4

Mowery Joins Park View Team HARRISONBURG — Park View Federal Credit Union has hired Debbi Mowery as a financial adviser on its investments and insurance team.

Mowery did her undergraduate work at Virginia Tech and earned a master’s degree in public administration from James Madison University. She’s lived in the Harrisonburg area for 25 years.

She will provide advisory services and securities through ProEquities Inc. and is licensed to sell life insurance and annuities.

PVFCU is a nonprofit, member-owned cooperative that provides financial services to its members. It operates four offices in Harrisonburg and Rockingham County.

— Vic Bradshaw

McClung Names VP, Board WAYNESBORO — McClung Cos. announced the promotion of three people as vice presidents and one as secretary/treasurer of the board.

According to a press release from the Waynesboro-based graphics communications company, Chip Bell was named vice president of sales, Adam Monk was named vice president of operations and Sheila Southall is the new vice president of production. They also were appointed to the board of directors.

David Schroen, McClung controller, was appointed to the board of directors and is its secretary/treasurer.

Harrisonburg, Va.

Central Valley Area Home Sales Median Price Harrisonburg Rockingham Shenandoah Page Augusta Staunton Waynesboro

Nov. 2016

Nov. 2015

Pct. Change

$163,000 $214,500 $156,000 $145,750 N/A N/A N/A

$210,500 $172,500 $192,000 $134,250 N/A N/A N/A

-22.57% 24.35% -18.75% 8.57% N/A N/A N/A

Days On Market Harrisonburg Rockingham Shenandoah Page Augusta Staunton Waynesboro

Nov. 2016

Nov. 2015

Pct. Change

40 45 161 345 N/A N/A N/A

45 53 140 239 N/A N/A N/A

-11.11% -15.09% 15% 44.35% N/A N/A N/A

Units Sold Harrisonburg Rockingham Shenandoah Page Augusta Staunton Waynesboro

Nov. 2016

Nov. 2015

Pct. Change

35 76 46 18 N/A N/A N/A

27 52 41 16 N/A N/A N/A

29.63% 46.15% 12.20% 12.50% N/A N/A N/A

Unemployment

— Vic Bradshaw

Oct. 2015

5.1% 3.7% 3.9% 4.7% 4.1% 4.3% 4.5%

4.8% 3.5% 3.6% 4.5% 3.9% 4.1% 4.2%

4.8% 3.7% 3.8% 5.4% 3.8% 3.9% 4.3%

Source: Virginia Employment Commission

Labor Force Harrisonburg Rockingham Shenandoah Page Augusta Staunton Waynesboro

Oct. 2016

Sept. 2016

Oct. 2015

23,882 39,339 20,858 11,336 35,661 11,721 9,821

23,685 39,681 21,084 11,505 35,814 11,629 9,717

23,975 39,621 20,814 11,413 36,203 11,886 9,974

Source: Virginia Employment Commission

Building Permits* Oct. 2016

Sources: Funkhouser Real Estate Group; Real Estate Business Intelligence

HARRISONBURG — Patricia Koogler has been designated as a private wealth adviser by Ameriprise Financial.

To be eligible for the status, advisers must have experience in providing comprehensive financial advice and planning for clients, complete special training and record excellent business results. Only 12 percent of the company’s approximately 10,000 advisers receive the designation.

Koogler Financial Group has offices in Harrisonburg and Waynesboro.

Sept. 2016

Harrisonburg Rockingham Shenandoah Page Augusta Staunton Waynesboro

— Staff Reports

Koogler Designated As Adviser

Oct. 2016

Retail Sales (in millions) Harrisonburg Rockingham Shenandoah Page Augusta Staunton Waynesboro

Oct. 2016

$111.0 $60.5 $37.5 $17.6 $49.0 $32.9 $43.9

Source: Weldon Cooper Center for Economic and Policy Studies

Harrisonburg Rockingham Page Augusta

Oct. 2015

Permits Issued

Estimated Cost

Permits Issued

Estimated Cost

5 29 6 18

$796,930 $5.93M $1.13M $3.16M

2 46 4 15

$310,000 $8.75M $475,185 $1.75M

Source: censtats.census.gov/bldg/bldgprmt.shtml *Permits are for residential construction only, single- and multifamily buildings, as recorded by the U.S. Census Bureau.

SHENANDOAH VALLEY BUSINESS JOURNAL

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‘I Think It’s Going To Have A Great Impact’ Keep Long-Term Focus When Investing ViaAir

FROM PAGE 3

School sophomore said. “I think it’s going to have a great impact for the future for the airport and also the economy here.”

Mount Sidney retirees Janie Masincupp and Nelson Cline also day-tripped to Charlotte because of the novelty of the first flight.

“It’s just the excitement of it,” said Masincupp, who travels frequently with her friend Cline. “We really wanted to see what it was going to be like.”

Ganey is the type of passenger SVRA officials hoped to recapture. A regular busi-

ness traveler, the information technology consultant said she’d been using Charlottesville Albemarle Airport because of Silver Airways’ reliability problems.

ViaAir has an excellent record for ontime service, Campbell said, which could make Ganey’s life easier.

“If I can depend on them, absolutely,” she said when asked if ViaAir might repatriate her business to SVRA. “This is so much easier and free parking’s pretty nice and Charlotte’s a great place to go out of.”

Contact Vic Bradshaw at 574-6279 or vbradshaw@dnronline.com

Financial

FROM PAGE 4

toward helping you meet your long-term goals? If not, you may need to make some changes.

You’ll also want to study your investment mix to make sure it still accurately reflects your risk tolerance. Over time, and often without your taking any significant actions, your portfolio can “drift” to a place where you are taking on too much risk — or even too little risk — for your needs and long-term objectives. If this happens, you may need to “rebalance” your holdings.

Avoid Mistakes

Goal To Move Up At Least One Spot BB&T

FROM PAGE 9

Blue Ridge’s goal, he said, is to move up at least one more spot on the list.

“Our goal is to be in the top 10 in the market,” Comer said. “Our focus for the foreseeable future will be growing deposits. We need to have a core deposit base to

grow the institution.”

As a whole, deposits in the market grew a modest 0.9 percent from 2015 to 2016. Total deposits increased $18.4 million year-over-year.

Contact Vic Bradshaw at 574-6279 or vbradshaw@dnronline.com

None of us can avoid all mistakes, in life and in our investment activities. But as an investor, you’ll clearly benefit from minimizing your errors.

For example, it’s generally a mistake to jump out of the market in response to a period of volatility. If you wait for things

to “calm down” before investing again, you might miss out on the opportunity to participate in the next market rally.

Think Long Term Keep this in mind: You’re not investing for today or tomorrow, but for many years from now. Try to keep a long-term focus when making all your key investment decisions.

By doing so, you can avoid overreacting to short-term developments, such as a sudden drop in the market or a “momentous” political event that actually decreases in importance as time goes by.

Try to follow these financial resolutions as best as you can. You could make 2017 a year to remember.

This article was written by Edward Jones for use by Kathy Armentrout, a financial adviser with Edward Jones at 560 Neff Ave., Suite 100, Harrisonburg; 540-574-1013

Advertising gets results. call 574-6229

WHARTON ALDHIZER & WEAVER PLC ATTORNEYS & COUNSELLORS AT LAW

2016 Legal Elite

Charles F. Hilton

Daniel L. Fitch

Donald E. Showalter

Gregory T. St. Ours

Humes J. Franklin III

James L. Johnson

Jeffrey R. Adams

Lauren R. Darden

Derek J. Brostek

P. Marshall Yoder

Stephan W. Milo

Thomas E. Ullrich

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540-434-0316 Glenn M. Hodge

Ashley H. Waterbury

WAWLAW.COM

Serving corporate, institutional, & individual clients in Virginia, West Virginia and other mid-Atlantic states

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SHENANDOAH VALLEY BUSINESS JOURNAL

Happy New Year

from your friends at OfďŹ ce Products

Harrisonburg, Va.