Friday, October 23, 2009

NE Indiana CDC Receives Grant; Funds Will Assist Small Businesses

The Community Development Corporation of Northeast Indiana will receive a $35,000 Rural Business Enterprise Grant from the United States Department of Agriculture Rural Development Program. The grant is designed to provide an incentive for business expansion, job creation and private investment in rural areas of Northeast Indiana. This would include Dekalb, Huntington, Lagrange, Noble, Steuben, Whitley, Wells and rural areas of Allen County.

The CDC is a City of Fort Wayne sponsored 501 (c) 6 not for profit business development organization.
Its primary objective is to promote the growth and development of small commercial and industrial businesses in Northeast Indiana through creative business loan programs.

Cheryl Schuster, Executive Director of CDC said, “ Our goal is to help serve the growth of Northeast Indiana small businesses, where there are few options available for financing alternatives and grants such as this help us accomplish these goals.”

USDA Rural Development State Director Phil Lehmkuhler said, “With these funds, the CDC will be able to assist numerous small businesses who, in the past, have had very few options for alternatives to traditional bank financing.”


This latest grant is one of several recently awarded in Indiana by USDA Rural Development. “These grants are in keeping with the mission of USDA Rural Development which is to provide equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure,” said Lehmkuhler. “USDA Rural Development is committed to improving the quality of life in rural Indiana. When rural Indiana makes progress, all of Indiana benefits."

Regional Partnership Visits European Contacts; Visitors from Germany Expected this Year

The Northeast Indiana Regional Partnership recently returned from a European trade mission that was pursued in response to the growing interest that European companies are showing in regards to investing in the United States. Dale Buuck of the Regional Partnership, along with representatives from the Indy Partnership, traveled to Germany to meet with prospective companies, share information about our region and nurture relationships with area leaders.

Delegation members visited the region of Baden-Württemberg and Bavaria, two German states with the largest gross domestic product (GDP) in all of Europe. The mission was designed to allow for opportunities to attend trade shows, meet with individual companies and establish relationships with key economic organizations. All of the trade shows were specific to advanced manufacturing and renewable energy; two areas of industry that European interests have shown significant interest in.

The Regional Partnership has already responded to many of the European contacts on specific requests for information about the northeast region and a visit by two of the German companies is anticipated for early November. A return visit in 2010 is also being planned to continue moving forward with the relationships created by this trade mission.

On-location summaries from throughout the trade mission can be found at Northeast Indiana Pulse and on the Regional Partnership's Flickr photo stream.

You're Invited to Join the Business Leadership Network

On Wednesday, November 4 at 11 a.m. the Fort Wayne Business Leadership Network (BLN) will kick-off with a free luncheon at the Chamber of Commerce. The goal of the Business Leadership Network is to create a more diverse workforce by improving awareness among businesses regarding the resources for, and the benefits of, hiring people with disabilities.

Fort Wayne’s Business Leadership Network was formed in March of 2009 by the Chamber, the City of Fort Wayne and Easter Seals Arc. Membership in the young organization is growing, and four area organizations have become service providers: Goodwill Industries of Northeast Indiana, Pathfinder Services, Inc./Resource Connection and Park Center.


Mayor Tom Henry will speak at the event, along with National BLN Board member Erin Riehle.


Ms. Riehle, MSN, RN is a recognized authority and national leader in promoting employment opportunities for people with disabilities and other barriers to employment. She is a founder and Director of Project SEARCH, an employment and transition program that has received national recognition for innovative practices. She is regularly invited to present at national and regional conferences, and has co-authored numerous publications and book chapters.


For more information on the BLN Luncheon contact
Kassandra Flanagan at kflanagan@esarc.org. Visit fwchamber.org to RSVP.

Tell Us Your Story

If you are a Chamber member, one of the benefits exclusive to you is access to the Chamber's communication outlets to get the word out about your business. We regularly feature member news in the Emphasis magazine (insert in the Greater Fort Wayne Business Weekly, readership 24,000) as well as right here, on the Daily Dose blog. Tell us your story - initiatives you are working on, recent success you have seen, or difficulties you are currently having. Or, share your expertise with us in the form of a Tips Article.

For more information or to share your story, contact us today at jjessup@fwchamber.org.

Annual Gala Includes Grammy Winning Singer

The Fort Wayne Urban League's 2009 Gala will feature Grammy award-winning singer Regina Belle on Saturday, November 14 at the Grand Wayne Center. For more information visit www.fwurbanleague.org.

Live United: Contribute to Your Community Through United Way

Every year United Way of Allen County holds a Community Campaign with the goal of raising awareness and funds. The 2008-2009 workplace campaign brought in a total of $4.7 million and the goal of $4.8 million has been set for the 2009-2010 campaign. 'Live United' is the theme of this year's campaign.

Donations to United Way of Allen County go to support 64 local social service programs, programs that provide everything from health care, counseling, shelter, and education. The donated funds are allocated by volunteers who have examined each program and its results. Elligible programs are required to fall into one of three United Way focuses: Success in School, Family Stability, or Meeting Basic Needs.

To contribute to the 'Live United' Community Campaign or for more information, visit www.unitedwayallencounty.org or call 260-422-4776 and request to speak with the staff accountant.

Thursday, October 22, 2009

Manchester College to Launch School for Pharmacists in Fort Wayne

Manchester College will begin the accreditation process for a School of Pharmacy in Fort Wayne, with unanimous approval given today by its Board of Trustees. The College plans to enroll its first students in the four-year Doctor of Pharmacy program in fall 2012. This is the 121-year-old baccalaureate college’s first venture into a doctoral program and into a satellite campus. It will be the only Doctor of Pharmacy program in northern Indiana.

Manchester has a strong reputation in the sciences, particularly for preparing students for medical and graduate school. The College also emphasizes service learning.

Fort Wayne is a natural fit for the new venture. In addition to numerous medical facilities and opportunities for pharmacy practicum experiences, Fort Wayne offers many amenities attractive to the school’s 250 students, 40 faculty and staff members and their families.

"The decision by Manchester College to start a PharmD program in Fort Wayne is a wonderful investment of financial and intellectual capital in our city,” said Mayor Tom Henry. “As the healthcare sector continues to grow in Fort Wayne and northeast Indiana, Manchester College’s expansion of professional programs is going to be key in creating the highly skilled, highly educated workforce employers demand.”

The average starting salary for pharmacists exceeds $100,000 and demand in the highly competitive profession is expected to grow more than 20 percent in the coming decade, according to Manchester College President Jo Young Switzer. The College’s research indicates many pharmacy graduates – who come from throughout the nation – remain in the communities where they study.

The College’s pharmacy program will help the region achieve its economic development goals, said Switzer. “During our exploration, many told us that this project aligns well with other initiatives undertaken in northeast Indiana to strengthen the economy here.”

Admission to Manchester’s new school will require two years of pre-pharmacy coursework. The College will add that program to its undergraduate curriculum in North Manchester and its students will compete with pre-pharmacy students from other colleges and universities for seats in the School of Pharmacy.

The College has not finalized its plans for a Fort Wayne site for the new school, which will require at least 35,000 square feet for classrooms, offices and laboratories. The pharmacy school will be a part of Manchester College and governed by the College’s Board of Trustees.

The search for a founding dean and building of a leadership team will begin immediately. That team will begin preparing the school’s application for accreditation.

City of Fort Wayne Wins Statewide Award for Use of Alternative Fuels

The City of Fort Wayne earned statewide recognition of its use of alternative and biofuels when it won the Indiana Department of Agriculture’s Paul Dana Excellence in Bioenergy Leadership Award.

Lt. Gov. Becky Skillman presented City Fleet Director Larry Campbell with the award Wednesday at the Central Indiana Clean Cities Alliance’s 10-year anniversary luncheon at the Governor’s Mansion in Indianapolis.

The City started using alternative fuels in 2005 with a blend of B20 biodiesel into the diesel fleet and began fueling what was 37 flex-fuel police vehicles at Lassus Bros.’ Wallen Road location. Since then the City has used more than 180,000 gallons of biodiesel in blends from B2 to B20 and are on track to use over 50,000 gallons of biodiesel in 2009.

Mayor Tom Henry has expanded the City’s commitment to alternative fuels with 379 vehicles that can use the E85 ethanol-gasoline blend. Fort Wayne is one of nine partners in the CICCA and Office of Energy Development Clean Cities Grant application funded from the American Reinvestment and Recovery Act to add three additional E85 stations in Fort Wayne and a $2,000 reimbursement for each purchase of hybrid vehicles, up to $18,000.

“The use of biofuels creates a win-win for Fort Wayne and Indiana,” Mayor Tom Henry said. “Renewable fuels and hybrid vehicles are the future of energy use yet the City is doing it right now and reducing our dependence on foreign oil. Indiana is also a leading producer of corn and soybeans, which is used to produce ethanol and biodiesel, so we are supporting Hoosier farmers too.”

The Paul Dana Excellence in Bioenergy Leadership Award is named after Indianapolis Racing League driver and biofuel advocate Paul Dana, who was killed in a car-racing accident in 2006.

Allen County War Memorial Coliseum to Host 2009 Old Fort Cluster Dog Show

The largest dog show in the Midwest is coming to Fort Wayne! The Old Fort Cluster Dog Show will take place at Chamber Member Allen County War Memorial Coliseum from Wednesday, October 28 through Sunday, November 1. Large events and shows, such as this, are great for the local economy as out-of-state visitors make use of our restaurants, hotels and services.

Admission is free but guests are asked to bring a pet food item for donation to the Community Harvest Food Bank. This five day show is expected to feature over 156 registered breeds and will give the public the opportunity to interact with owners, breeders, and handlers. Show hours are 7 a.m. to 6 p.m. each day with Best in Show awarded at the end of each day's judging. For more information on the Old Fort Cluster Dog Show, visit www.neikc.org.

Youth United Can Drive

Glenbrook Mall will be collecting empty aluminum cans this Saturday, October 24 to help Youth United raise money to build a home for a partner family. The goal is to raise $50,000 and all proceeds from the event will go toward reaching that goal.

All you have to do is bring your empty cans to the parking lot in front of Macy's from 9 a.m. until 3 p.m. You can also stop by the information booths that will be set up to learn more about Youth United Habitat for Humanity.

For more information, visit www.habitat.org/youthprograms/youthunited/.

Wednesday, October 21, 2009

Career and Internship Fair this Friday

Candidates seeking internships, co-ops and full-time employment are invited to attend Trine University’s annual Career and Internship Fair in the University Center mall Friday, October 23 from 10 a.m. - 2 p.m. Alumni and students of Trine University and other colleges and universities may attend.

Although the fair is free and pre-registration is not required, participants must dress professionally. Twenty-seven regional employers will attend to consider candidates for co-ops, internships and full-time jobs. To prepare for the fair, participants should bring 10 copies of their updated resumes and a portfolio if they have one; research participating employers; prepare to explain the type of job in which they have interest and what experience they can bring to it; compose questions for recruiters; collect their business cards; and follow up immediately with companies of interest. For more information, visit www.trine.edu.

Indiana INTERNnet Calls for Nominees

The state program Indiana INTERNnet is calling for nominations for the 2009 IMPACT Awards. The deadline for nominations is October 30, and nomination forms can be found here. The categories are Outstanding Intern, Outstanding Career Services Professional and Outstanding Employer. For more information click on the image to the left or e-mail Shannon Wiseman at swiseman@indianachamber.com.

The Chamber's Graduate Retention Program works to connect employers throughout the region to students by coordinating meaningful internships. The Indiana INTERNnet is a primary tool in this effort. For more information on the Graduate Retention Program contact Kay Anthony at kanthony@fwchamber.org.

Chamber Insurance Discount Program Expanded

A Chamber member benefit program has recently been expanded to meet growing demand. The PHP Health Matters program is a joint effort between the Chamber and PHP to offer a discount of up to five percent on employee health insurance for Chamber members, resulting in significant savings that in most cases far exceed the annual cost of Chamber membership.

Health Matters has been expanded from a maximum of 26 total employees to a maximum of 50 employees who are eligible for health insurance coverage. Chamber members who take advantage of the Health Matters program average over $2,500 in annual savings, with some companies saving as much as $10,000 a year.

Matt Kelley of One Lucky Guitar says "We've really enjoyed our relationship with PHP - it's one of the best benefits of our Chamber membership. PHP has been flexible and easy to communicate with, and they always strive to make sure we know that we're real, valued clients. We were guided to PHP through our trusted resource, Ryan Stoneburner at Health Insurance Inc; Ryan is an incredible, pro-active partner for us."

It's easy to take advantage of the Health Matters Program. If you are a Chamber member with 2-50 employees, simply call PHP or speak to your insurance broker about Health Matters. You will receive a discount of up to 5 percent on whichever of PHP's hundreds of benefit plans that you choose.

To learn more about the Chamber's Health Matters program, call the Chamber at (260) 424-1435 or visit fwchamber.org to download a brochure. To receive a free quote on a PHP Health Matters insurance plan, call PHP at (800) 982-6257 or visit phpni.com for more information.

Turnstone Awarded Grant from U.S. Department of Education

On Tuesday, October 13 at 9 a.m., Turnstone formally announced the receipt of its U.S. Department of Education grant award for Project I CAAN. U.S. Representative Mark Souder as well as representatives from Fort Wayne Parks and Recreation joined Turnstone in the announcement of the award.

Project I CAAN (Inclusive Community Athletics and Activities Now), builds on Turnstone's existing programs, adaptive sports and leisure programs currently offered by the agency for people with physical disabilities. The grant award will fund project I CAAN for three years. Over 100 agencies from across the nation applied to the Department of Education/Rehabilitation Services Administration Recreational Programs funding opportunity. Turnstone is one of 10 agencies succesful in receiving support.

For more information, please call Nancy Louraine at (260) 483-2100 or nancy@turnstone.org.

Art Morph: Combining Art and Science at Science Central

Now through January 3, 2010, visitors to Science Central can explore what happens when you fuse science and art together. The temporary exhibit features artwork created from recycled materials and includes penguins, fish, horses, and more. Interactive stations allow for hands on learning in animal classification and recycling.

The exhibition is sponsored in part by Arts United and OmniSource. All the original artwork was created by local artist Sayaka Ganz. Science Central is open Wednesday through Saturday from 10-4 and Sunday Noon to 5. Admission is $7 for adults and students, children under 3 are free.

For more information, visit www.sciencecentral.org.

Tuesday, October 20, 2009

Steel Dynamics Has Good News for Q3

Chamber member Steel Dynamics, Inc. (Nasdaq-GS: STLD) announced yesterday net income of $69 million for the third quarter of 2009, or $0.30 per diluted share. The quarter's earnings compared to a net loss of $16 million, or $0.08 per diluted share, in the second quarter of 2009 and net income of $193 million, or $0.98 per diluted share, in the third quarter of 2008. The principal drivers as to why third quarter earnings exceeded September guidance were stronger-than-anticipated cost compression, resulting from higher production and shipping volumes at the Flat Roll Division, and better than expected performance in metals recycling.

Third quarter net sales of $1.2 billion increased significantly from $792 million in the second quarter of 2009, up 48 percent, but were down 54 percent from $2.6 billion when compared to the third quarter of 2008, a period when pricing reached historical peaks. Sequentially, shipping volumes in all segments except fabrication were up in the third quarter, as were selling prices.

"In the third quarter, the company's steel operations produced operating income of $128 million, or $105 per ton, while OmniSource made significant strides in earnings growth, resulting in operating income of $50 million during the quarter," said Keith Busse, Chairman and CEO. "I salute SDI's employees as these results are testament to our focus on efficient operations and cost control throughout the company. Our steelmaking divisions all produced pre-tax profits in the quarter, including the Structural and Rail Division which continues to face very challenging conditions in the construction marketplace. Our steel fabricating operations showed an operating loss of $3 million on continued weakness in non-residential construction."

Click here for the full story.

PBS Documentary Features FWCS Administrators

Four Fort Wayne Community Schools administrators and two FWCS parents are featured in two PBS documentaries that will air on WFWA-39 Sunday, Oct. 25. "The Good That You Do" and "Reading, Writing and Relevance" were produced by PBS station WFYI in Indianapolis to accompany "The Principal Story," an hour-long PBS documentary looking at the day-to-day lives and challenges of today's school principals.

"The Principal Story" follows two principals - one from Chicago and one from Springfield, Ill. - over the course of a school year. All three documentaries were funded by The Wallace Foundation, which has supported FWCS' leadership initiatives for several years.

"The Good That You Do" tells the stories of Carolyn Sleet, principal of FWCS' Harris Elementary School, Al Mihajlovits, of Southridge Middle School in Huntingburg, and Joe Preda of Decatur Central High School in Indianapolis. It also includes FWCS Elementary Area Administrator Dan Bickel and Weisser Park Elementary School parent Lantz Mintch, a member of the school's Quality Improvement Team.

"Reading, Writing and Relevance" examines the future of Indiana education and explores the recruiting, licensing, mentoring and evaluation of the next generation of school leaders. It features Principal Carolyn Sleet, Area Administrator Dan Bickel, parent Lantz Mintch, FWCS Superintendent Dr. Wendy Robinson, Tina Hartman, President of Indiana PTA and FWCS parent, Miami Middle School Principal Hal Stevens and several other educators and elected officials from around the state.

"The Principal Story" will air on WFWA-39 at 5 p.m. Sunday, Oct. 25, followed by "The Good That You Do" at 6 p.m. and "Reading, Writing and Relevance" at 6:30 p.m.

With nearly 32,000 students, Fort Wayne Community Schools is Indiana's second-largest school district. FWCS proudly allows families to choose any of its 53 schools through its successful school-choice program creating diversity in each school, including some with more than 75 languages spoken. FWCS offers seven magnet schools focusing on areas such as fine arts or Montessori at the elementary and middle school level as well as the prestigious International Baccalaureate program for high school students.

3rd Annual Downtown Fright Night

All of downtown will come alive for a frightfully good time this Saturday, October 24 for DOWNTOWN FRIGHT NIGHT. There will be the supernatural favorites like the 2nd Annual Zombie Walk and The Old City Jail plus new additions like Lemony Snicket at The Embassy, a scavenger hunt at Parkview Field, and a roaring bonfire in the Harrison and Berry St. parking lot!

With more organizations and venues involved than ever before, you can limp and hobble your way through downtown all night long while enjoying one ghoulish activity after another because this event has all the gory details you crave!

Creep around and discover spooky (but kid-friendly!) activities at your favorite downtown hot spots including:

3:30-5pm — Pre Zombie Walk Face Painting (Library Plaza)
4-5pm – Learn the Thriller Dance! (pre Zombie Walk at Library Plaza)
4-5pm — Philharmonic Concert - Lemony Snicket: The Composer is Dead (Embassy Theatre, 125 W. Jefferson)
5 -6pm — 2nd Annual Zombie Walk (parade begins at Library Plaza)
5 -9pm — The Old City Jail (The History Center, 302 E. Berry)
5-6pm — The Pumpkin Patch Ring, Handbell Ringers Concert (Grand Wayne Center)
5-7pm — Kids Activities in Grand Wayne Center (MAJIC Costume Parade at 6)
5-8pm — Scavenger Hunt at Parkview Field
5:30 -7pm — Ghost Stories in the Indiana Hotel Lobby
7pm, 9pm, 11pm — ARCH Haunted Bus Tours (7 and 9pm leave from Embassy Theatre; 11pm leaves from Botanical Conservatory)
7:30pm, 9:30pm, 11:30pm — ARCH Fright Site Hikes (7:30 and 9:30pm leave from Embassy Theatre; 11:30pm leaves from Botanical Conservatory)
7 -9pm — Phantom of the Opera with pre show magic by Dick Stoner (Embassy Theatre, 125 W. Jefferson)
9:15pm-11pm — Rocky Horror Picture Show (outside terrace of Botanical Conservatory, 1100 S. Calhoun)

Find all the gory details at downtownfrightnight.com.

Holiday Taste is Coming Soon

It's hard to believe, but the Taste of the Chamber is just around the corner! The Taste is one of the finest holiday celebrations in downtown Fort Wayne, with hundreds of networkers sampling treats and beverages from local restaurants and caterers. The Taste also features a Holiday Tree Silent Auction, allowing Chamber businesses to sponsor and decorate a tree to be auctioned off in support of the Chamber Foundation. If you are interested in sponsoring and decorating a tree, let us know!

This year's Taste will take place Thursday, December 3 from 5 p.m. to 8 p.m. at the Chamber. Tickets are $10 in advance, $15 the day of.

Are you a Chamber member restaurant or caterer interested in providing samples of your specialty foods or drinks? Space is limited so act now! Contact Laureen Voirol at (260)424-1435, ext. 266.

Fort Wayne Philharmonic is Pandemic Prepared

The Fort Wayne Philharmonic is addressing the issue of H1N1 in several specific, unique ways. Patrons should be aware that for subscribers who become sick, the Philharmonic will temporarily extend the time limit on the ticket exchange policy from three to seven days after the concert. They are also offering the same extension to single ticket buyers who miss a show due to illness. High filtration masks are being made available for concert attendees as well as hand sanitizer, which has been placed at the Patron Service desk for visitor use.

For more information on the Fort Wayne Philharmonic or updated information regarding their response to H1N1, visit www.fwphil.org.

Monday, October 19, 2009

First Federal Saving Bank's Holding Company Reports Q3 Profit

Northeast Indiana Bancorp, Inc. (OTC:NIDB) (BULLETIN BOARD: NIDB) , the parent company of Chamber member First Federal Savings Bank, announced October 13 the net income of $518,000 ($0.42 per diluted common share) for the Company's third quarter ended September 30, 2009 compared to a net loss of ($967,000) ($0.79 per diluted common share) for the third quarter ended September 30, 2008.

The prior year quarterly period contained non-cash other than temporary impairment ("OTTI") write-downs of $1.7 million taken on FHLMC Preferred Shares and in the bank's investment in the Shay Ultrashort Mortgage Fund as well as specific reserves established of $280,000 on four real estate owned properties. The current three months earnings equates to an annualized return on average assets (ROA) of 0.82% and a return on average equity (ROE) of 9.20%.

Net interest income increased sharply by $341,000 or 19.4% to $2.1 million for the quarter ended September 30, 2009 when compared to $1.8 million for the quarter ended September 30, 2008. The Company's net interest margin increased significantly by sixty-five basis points to 3.53% for the current quarter compared to 2.88% in the year earlier quarter. On a linked quarter basis, the Company's 3.53% net interest margin was ten basis points higher during the current quarter ended September 30, 2009 compared to 3.43% during the quarter ended June 30, 2009.

The Company made a $350,000 provision for loan loss during the quarter ended September 30, 2009 compared to a $100,000 provision for loan loss for the quarter ended September 30, 2008. Management continues to feel it is prudent to increase the allowance for loan losses by setting aside provisions for loan losses at higher levels during these uncertain economic conditions. The Company experienced net charge-offs of $89,000 for the quarter ended September 30, 2009 compared to net charge-offs of $1.4 million for the quarter ended September 30, 2008.

Noninterest income increased to $669,000 for the third quarter ended September 30, 2009 compared to ($1.2 million) during the quarter ended September 30, 2008. The significant increase is mostly due to the OTTI write-downs discussed above on FHLMC preferred shares and the Shay fund during the prior quarterly period. Net gain on the sale of loans also increased $177,000 or 316.4% to $233,000 during the quarter ended September 30, 2009 due to increased sales volumes to FHLMC and the SBA.

Noninterest expense decreased $68,000 from $1.7 million for the quarter ended September 30, 2008 to $1.6 million for the quarter ended September 30, 2009. The decrease was mostly due to no valuation allowances on repossessed assets for the current quarterly period compared to $280,000 during the three months ended September 30, 2008.

This sharp reduction was partially offset by increases in occupancy, wages, professional fees and FDIC insurance premiums between quarterly periods. Wages and occupancy increases were related to the opening of the bank's fifth full service branch in Fort Wayne, Indiana during the current quarter as well as an increase in property taxes on existing branches.

Net income for the nine months ended September 30, 2009 increased to $1.5 million ($1.24 per diluted common share) compared to a net loss of ($200,000) ($0.16 per diluted common share) for the nine months ended September 30, 2008. This increase is mostly due to the non-cash OTTI charges taken during the quarter ended September 30, 2008 as discussed above. Net interest income increased $1.2 million or 25.5% to $6.1 million for the nine months ended September 30, 2009 compared to $4.9 million for the prior year nine month period. Noninterest income increased sharply due to the OTTI charges in the prior year period but net gain on sale of loans also increased $552,000 or 500% between periods. Noninterest expense was higher for the nine months ended September 30, 2009 primarily due to the sharp increase of $256,000 or 366% in FDIC insurance premiums between nine month periods. Most noninterest expense increases were partially offset by a reduction in valuation allowances on repossessed assets of $360,000 during the prior year nine month period.

Total assets decreased $12.7 million or 4.9% to $247.5 million at September 30, 2009 compared to December 31, 2008 assets of $260.2 million. The asset decline is primarily due to large noninterest bearing funds on hand at year end 2008 clearing early in first quarter 2009 as well as a reduction in single family portfolio mortgage balances due to most fixed rate originations being sold servicing retained to FHLMC. Net loans decreased $7.1 million to $197.1 million at September 30, 2009 compared to $204.2 million at December 31, 2008. Total deposits increased $2.4 million to $158.1 million at September 30, 2009 from $155.7 million at December 31, 2008. Borrowed funds decreased $15.7 million to $64.3 million at September 30, 2009 compared to $80.0 million at December 31, 2008. Proceeds from the sale of fixed rate mortgages to FHLMC were used to pay down borrowed funds.

Shareholders' equity at September 30, 2009 was $22.9 million compared to $21.8 million at December 31, 2008. The book value of NEIB's stock was $18.60 per common share as of September 30, 2009. The number of outstanding common shares was 1,230,670. The last reported trade of the stock on October 12, 2009 was $9.25 per common share.

Free Business Seminar at Public Safety Academy

Thanks to funding provided by a congressionally mandated award through Congressman Mark Souder, those interested in attending a half day seminar on computer security, federal/state regulations and more can now do so for free. The event has been planned by Indiana Tech, IPFW, Ivy Tech Community College, Trine University, and the Public Safety Academy. Topics covered will include data breaches, employee safety, hardware failure, data corruption, identity theft, and how to develop an appropriate recovery plan.

"Staying Open for Business" will take place on Friday, November 13 from 8 a.m. to 1:30 p.m. and will be held at the Public Safety Academy. Presenters include Dan Arnold, President Capital Strategies Group, Thomas black, Jr., President, Safer Worker Systems, Inc. Bob Kohlmeyer, CPA, DWD Tech Group, and Brian O'Hara, President, Tech Defenders.

For more information and registration, visit www.ipfw.edu/dcs/openforbusiness or call (260)481-6619.

Don't miss Tomorrow's Brown Bag: Facebook Marketing

The next session in the Chamber's Business Brown Bag series takes place tomorrow, October 20 from Noon to 1 p.m. Experts from Digital Hill Multimedia will present "Cost Effective Marketing: Facebook." We will take an in-depth look at how to use Facebook to market your business. Topics include:
  • What is Facebook & Why is it Important?
  • How to Get Started
  • How to Create Your Business Page
  • Tips for Promoting Your Business
  • What to Measure & How
Cost is $5 for Chamber members, $10 for non-members. Please RSVP to Laureen at lvoirol@fwchamber.org.

Tips, Quips and Tallies

The Graduate Retention Program: Year 5
by Marlene LeMon

The Graduate Retention Program of the Chamber is designed to promote employer/student connections through internship opportunities in Northeast Indiana. Since 2004, more than 1,700 internships from Northeast Indiana have been advertised on the Indiana INTERNnet (IIN), and more than 550 employers have registered on the website. Employers benefit when talented students plug into local businesses. (The IIN is a statewide website set up exclusively for promoting internships in Indiana.)

In September, 2009, the Graduate Retention team completed program results reporting for Year Five. Statistics of general interest are as follows:

  • 450 internships were advertised on the Indiana INTERNnet website
  • 95 new companies registered on the IIN
  • 106 companies advertised one or more internships on the IIN
  • Of the 106 companies, 58 (55%) reported filling at least one internship

These statistics represent many hours of concentrated effort and networking activities. Due to additional grant funding for the current program year, the team continues to work diligently, not only to maintain established business and education relationships that primarily benefit students at the post secondary level, but also to expand its high school initiative.

For more information on the Chamber's Graduate Retention Program, click here, or email Kay Anthony, Program Manager at kanthony@fwchamber.org.

Downtown Design Awards

The Downtown Improvement District is seeking nominations for the first of what they expect to be an annual recognition of superior design for downtown projects recently completed. Projects will be considered in three categories: Architecture, Landscape, and Signs/Graphics. DID is joining with the local chapter of the American Institute of Architects and ARCH (Architecture and Community Heritage, Inc.) to present design and preservation awards at a combined celebration and reception to take place on November 11.

Please submit your downtown entry with a photo (digital) and paragraph describing the design merits of the completed project, to justin@downtownfortwayne.com. Deadline for submissions is October 28, 2009. For submission details: http://www.downtownfortwayne.com/media/files/1_aia.pdf

Offer Professional Development to Your Employees with Chamber Academy

Don’t miss the next two Chamber Academy sessions, offered by members, for members. Chamber Academy seminars are 2-hour interactive, informational seminars given by regional business leaders on a variety of topics for professional development.

Academy seminars cover areas of interest for both developing and well-established businesses and are presented only by Chamber members, allowing members to share their expertise and help other members grow their business. All sessions are just $19 and take place at the Chamber.


Product Development - Presented by Sam Wakeel of ESC/Product Development Excellence on Wednesday, October 21.

This session is a must for senior management of small and medium companies. We will introduce new aspects of product development, allowing you to connect to and better understand your product development.

Customer Loyalty -
Presented by Jerry Hogan of the Resource Development Group LLC on Thursday, October 29.

People need what you have to offer! Finding these people is critical to your success. Jerry will show you how to create prospect streams leading to ongoing sales.

For a complete list of upcoming Chamber Academy events click here. For more information contact Katelyn Daniel.