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The Sherando Times
Stephens City • Middletown • Kernstown
April 13 – 19, 2011Volume III, Issue 15
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Page • Te Sherando imes • April 13 –19, 011 Read all issues in their entirety FREE on www.Sherandoimes.com
By Sue GoldenTe Sherando imesAt its Monday meeting, theMiddletown own Councilapproved the site plan or theDollar General store at 7965Main Street, in Middletown.Te demolition and building willcommence immediately. Fourmembers o the Planning Com-mission spoke on the reasonswhy the Planning Commissionvoted against the site plan. Inthe end, only Council MembersMark Davis and Carl Bernhardsvoted against the plan. A packedhouse turned out to support theDollar General store. Bob Gage,a representative o the real estatecompany that will build the storeor the Dollar General, spoke atthe meeting.In a rare show o solidarity, theCouncil approved a number o motions unanimously. Amongother things, the Council votedto approve the resolution au-thorizing the own Attorney to petition Frederick County toissue a writ o election to ll theseat soon to be vacated by Coun-cil Member John Owings. TeCouncil unanimously approved$50 to place an advertisementin the Wayside Teatre programor its 50th anniversary season.Te Council also approved theelimination and replacement o a number o ordinances that theCouncil deemed outdated. Teordinances covered police ticketsand ee schedules, among otherthings.A rst and second reading o a $.05 increase in sales tax oncigarettes was approved, withCouncil Members Gray andOwings voting against the in-crease. Te town also voted toincrease the real estate tax rom$.065 per hundred to $.10 perhundred; Council Member Gray voted against the increase. Anordinance that would increasethe size o porches was approved,with Council Member Bernhardsvoting against the ordinance.An increase in the water rate,commensurate with the increaseimplemented by Winchester orwater, was approved, with Coun-cil Member Gray voting no.Te Middletown Police Depart-ment reported three new elony grand larceny cases, and onenew misdemeanor or the montho April. During the month o March, 011, 54 calls or servicewere reported, and 58 citationswere written.Mayor Brown presented Coun-cil Member Owings with a stateag o Virginia, to thank him orhis many years o service to thetown o Middletown. CouncilorOwings urged people to apply orhis vacated seat.Te next July 4th celebrationmeeting will be on April 0th, at7 pm at the own Hall. Te townis hosting a car show and chilicook-o on June 4, 011, to raiseunds or the July 4th reworks.Ater a lengthy executive ses-sion, during which no decisionwas made, the Council adjourned.All Councilors were present.
Middletown
By Samantha Mazzotta
Refrigerator RunsHot and Cold
Q:
I’m having trouble with myrefrigerator. Food sitting onthe upper shelf of the fridge gets icecrystals in it, while the stuff in thebottom crisper seems barely cool.Adjusting the temperature doesn’tseem to do anything. Any tips?
— Jericho P., Philadelphia
A:
Sometimes a little cleaning andmaintenance can solve minor temperature issues. If these tips don’twork, however, contact an appliance-repair center or the manufacturer for more instructions.Refrigerators, whether their freezer compartments sit atop or under-neath the main compartment, use theprinciples of condensation to their advantage. The refrigerator compart-ment is typically cooled from the topdown, so often the topmost shelf of arefrigerator is also the coolest part of the refrigerator compartment. In anefficiently running fridge, this isn’talways apparent, but if something isimpeding this efficiency, the fridgemay be having trouble regulating thetemperature of both the freezer andrefrigerator. Dirty coils, bad seals, or a faulty thermostat are some commonproblems that can affect your refrig-erator.First though, clean out your freez-er and refrigerator and toss any oldfoods. An overcrowded fridge com-partment can affect air circulation,meaning some areas stay colder thanothers.Check the door seals. A dry, crackedor warped seal, or excessive water condensation around a seal, indicatesa problem. Replacement seals can beordered from the manufacturer or anappliance parts specialist (many canbe found online). If the seal is reallydirty or has caked-on material, cleanit with soapy water. Sometimes thatalone does the trick.The refrigeration coils, locatedeither behind or underneath thefridge, tend to collect lots of dust.Unplug the refrigerator for 5-10 min-utes and vacuum the coils using thevacuum cleaner’s hose attachment.Doing this once a month will keep thedust bunnies down.A bad thermostat also can be aculprit, although your fridge isn’tshowing clear signs of a thermostatproblem. These signs include theentire fridge and freezer being warmeven though the temperature set-ting is maxed, and frost buildup inthe back of the freezer even thoughice cream stays soft. Thermostatscan be changed without too muchtrouble, and there’s a great video of how to do this for a Kenmore fridgehere: www.youtube.com/watch?v=z-h541_14ZE, or you can contact anappliance-repair place like Sears tocheck out and fix your fridge.
Send your questions, tips or com-ments to ask@thisisahammer.com.,or write This Is a Hammer, c/o King Features Weekly Service, P.O. Box536475, Orlando, FL 32853-6475.
© 2011 King Features Synd., Inc.
The optimumair temperatureof your refriger-ator is 38 F. Thiskeeps foods at asafe tempera-ture withoutfreezing them.
o advertise in Te Sherando imes please contactAngie Buterakos: angie@sherandotimes.com • 540-683-9197or Alison Duvall: alisond@sherandotimes.com • 540-551-07
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Dollar General approved by own Council:Is it the end o the north end o town?
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April 13 – 19, 011 • Te Sherando imes • Page 3Read all issues in their entirety FREE on www.Sherandoimes.com
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Economy
o advertise in Te Sherando imes please contactAngie Buterakos: angie@sherandotimes.com • 540-683-9197or Alison Duvall: alisond@sherandotimes.com • 540-551-07
Highlands Bankshares, Inc.(OCBB: HBSI) announces itsresults o operations or the yearended December 31, 010.Highlands Bankshares, Inc.,the parent company o Te GrantCounty Bank and Capon Valley Bank, posted year-end 010 earn-ings o $1,59,000 or $1.19 pershare o common stock outstand-ing (EPS), compared to $3,356,000or $.51 EPS or the same periodo 009, a decrease o $1,764,000or $1.3 EPS.Net interest income increased1.5%, due to the avorable changein the ratio o interest income tointerest expenses as the decreasein interest expenses o 0.7%outpaced the decrease in interestincome o 5.7%.otal provision or loan lossduring 010 increased 87.1%to $3,487,000, compared to$1,864,000 during 009. heincrease in the provision ex-pense was driven by increaseddelinquency rates, increase in thenumber o classiied loans anddecreased collateral values, whichwere all the result o the economicenvironment.Return on average assets(ROAA) declined rom 0.84% in009 to 0.38% in 010. Likewise,the return on average equity (ROAE) declined rom 8.33% in009 to 4.00% in 010.otal assets, as o Decem-ber 31, 010, decreased 1.9%or $7,910,000 to $399,900,000,compared to December 31, 009.his decrease was driven by areduction in gross loans and theincrease in the allowance or loanlosses.Shareholders’ Equity at Decem-ber 31, 010 was $41,368,000 or$30.94 per outstanding share.During 010, Highlands paiddividends to its shareholders o $1.04 per share.C.E. “Butch” Porter, Presidentand CEO o the holding company,stated “We are continuing to workthrough this diicult economicenvironment. We are pleasedthat operationally we have beenable to oset some o the impacto the recessionary allout withreduced interest expenses help-ing us maintain a strong interestmargin. We will continue to workwith our customers and analyzeour loan risk. We will be proactivein establishing allowances to coverpotential uture losses in our loanportolio.Reviewing some recent regionalstatistics, I have been pleasedto see increases in some o ourcommunities’ real estate values.While these increases have beenmarginal, they are increases in-stead o the declining values wehave seen the last couple years.I remain cautious and thinkwe still have some issues to workthrough. We continue to watchemerging operational and report-ing requirements as a result o theDodd-Frank Wall Street Reormlegislation adopted by Congresslast summer. Depending on theimplementation o this legislation,Community Banks are at risk o extensive change in the way they do business and increased ex-penses associated with increasedreporting requirements.I am saddened to report thatduring the last year we lost Direc-tor Steve Judy to a sudden illness.Steve joined our Board o Direc-tors in 00 and worked tirelessly on behal o the Company. Hiscontributions have been immea-surable. During his tenure, Steveserved as chair o the audit com-mittee and chair o the board orTe Grant County Bank. We willmiss his intelligence, perspective,experience, energy, humor and theenormous care he always demon-strated or the Company and itsemployees.During this past year, we openedour newest, ull service CaponValley Bank branch in StephensCity, Virginia. We are very excitedwith the prospects or our secondVirginia operation.We remain ocused and com-mitted to our communities andlook orward to working throughthe recovery together by develop-ing new products and services tomeet the needs o our custom-ers.”Highlands Bankshares, Inc. op-erates twelve banking locations inWest Virginia and Virginia throughits two wholly-owned subsidiary banks, Te Grant County Bankand Capon Valley Bank, and o-ers insurance services through itswholly-owned subsidiary HBI LieInsurance Company.As o March 30, 011, SmithElliott Kearns & Company, LLC,Highlands’ Registered Indepen-dent Certied Public Accounts,had issued an unqualied opinionon Highlands’ 010 nancial state-ments as o and or the year endedDecember 31, 010. Te results o operations or 010 and balancesheet totals or December 31, 010contained in the text above werederived rom the audited nancialstatements.
(Certain statements in this pressrelease may constitute “orward-looking statements” within themeaning o the Private SecuritiesLitigation Reorm Act o 1995. For-ward-looking statements are state-ments that include projections,predictions, expectations or beliesabout uture events or results or otherwise are not statements o historical act. Such statementsare oten characterized by theuse o qualied words (and their derivatives) such as “expect”, “be-lieve”, “estimate”, “plan”, “project”,“anticipate” or other similar words.Although the company believesthat its expectations with respect to certain orward-looking state-ments are based upon reasonableassumptions within the bounds o its existing knowledge o its busi-ness and operations, there can beno assurance that actual results,perormance or achievements o the company will not dier materi-ally rom any uture results, peror-mance or achievements expressed or implied by such orward-looking statements. Actual uture resultsand trends may dier materiallyrom historical results or thoseanticipated depending on a varietyo actors, including, but not lim-ited to, the eects o and changesin: general economic conditions,the interest rate environment,legislative and regulatory require-ments, competitive pressures, newproducts and delivery systems,infation, changes in the stock and bond markets, technology, down-turns in the trucking and timber industries, eects o mergersand/or downsizing in the poultryindustry in Hardy County, contin-ued challenges in the current eco-nomic environment aecting our nancial condition and results o operations, continued deteriora-tion in the nancial condition o the U.S. banking system impacting the valuations o investments thecompany has made in the securi-ties o other nancial institutions,and consumer spending and savings habits, particularly in thecurrent economic environment.Additionally, actual uture resultsand trends may dier rom histori-cal or anticipated results to the ex-tent: (1) any signicant downturnin certain industries, particularlythe trucking and timber industriesare experienced; (2) loan demand decreases rom prior periods; (3)the company may make additional loan loss provisions due to negativecredit quality trends in the uturethat may lead to a deterioration o asset quality; (4) the company maynot experience signicant recover-ies o previously charged-o loansor loans resulting in oreclosure; (5)the company is unable to control costs and expenses as anticipated,(6) legislative and regulatorychanges could increase expenses(including changes as a result o rules and regulations adopted under the Dodd-Frank Wall Street Reorm and Consumer ProtectionAct); and (7) any additional as-sessments imposed by the FDIC.Additionally, consideration should be given to the cautionary lan-guage contained in the company’speriodic reports led with the U.S.Securities and Exchange Commis-sion under the Securities ExchangeAct o 1934. Te company doesnot update any orward-looking statements that may be made romtime to time by or on behal o thecompany.)
Highlands Bankshares, Inc. announces year-end 2010 results
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