Third quarter net income was $280,000 or $0.34 per share, compared to $231,000 or $0.28 per share for Q3 2015. Year-to-date net income for 2016 was $724,000 or $0.88 per share, compared with 2015's $734,000 or $0.89 per share. The slight decrease in year-to-date net income is the result of increased expenses related to the repayment of the SBLF Preferred Stock in January 2016 and ongoing interest expense associated with the new debt, and stock transaction-related expenses. In addition, net interest margin is down based on the prevailing lower interest rate market over the last 12 months, yet it still remains above 4.0%. The significant increase in return on average equity (ROAE) of 11.38% for the quarter, reflects lower capital in 2016 due to the repayment of the SBLF Preferred Stock.

Jack Shubitowski, President and CEO of Huron Valley State Bank, is pleased to announce the appointment of Kevin McIsaac to Vice President / Commercial Lender. In his position, he will be concentrating on developing and expanding commercial relationships in the community. The commercial lending team has grown to four lenders with the addition of McIsaac.

Jack Shubitowski, President and CEO of Huron Valley State Bank, is pleased to announce the promotion of Melissa Herron to Cash Management Specialist. In this newly created position, she is responsible for developing a strong relationship between the operations and the commercial lending team to create a link between the bank's product offerings and the business needs of customers. Herron also will serve as a resource for business customers for all their cash management needs and remote deposit capture services.

In conjunction with the Green Team and Carls Family YMCA's Earth Friendly Family Fun Festival, Huron Valley State Bank and Elizabeth K. Deutch, CFP® are once again co-sponsoring the community shredding program on Sunday, April 24, from 12:00-4:00 pm, at the Carl's Family YMCA at 300 Family Drive, Milford.

Jack J. Shubitowski, President and CEO of Huron Valley Bancorp, Inc. (HVLM), the holding company for Huron Valley State Bank, announced that the Board of Directors has declared a dividend of eight cents (.08) per share, representing a 33% increase over last year's dividend of six cents (.06) per share. The dividend is payable March 16, 2016 to shareholders of record as of February 16, 2016. The Board, in declaring this dividend, has indicated that the bank has demonstrated consistent growth and strong profitability.