Merchants Bancshares, Inc. (NASDAQ: MBVT), the parent company of Merchants Bank, announced that its Board of Directors declared on January 20, 2011, a dividend of 28 cents per share, payable February 17, 2011, to shareholders of record as of February 3, 2011. Merchants plans to release earnings on or about January 26, 2011.Michael R. Tuttle, Merchants’ President and Chief Executive Officer, and Janet P. Spitler, Merchants’ Chief Financial Officer, will host a conference call to discuss these earnings results at 10:00 a.m. Eastern Time on Friday, January 28, 2011. Interested parties may participate in the conference call by dialing (800) 553-0327; the title of the call is Merchants Bancshares, Inc. Earnings Call. Participants are asked to call a few minutes prior to register. A replay will be available until noon on Friday, February 4, 2011. The U.S. replay dial-in telephone number is (800) 475-6701. The international replay telephone number is (320) 365-3844. The replay access code for both replay telephone numbers is 188055.Merchants also announced the extension, through January 2012, of its stock buyback program, originally adopted in January 2007. Under the program Merchants may repurchase 200,000 shares of its common stock on the open market from time to time, and had purchased 143,475 shares during 2010. Although Merchants did not repurchase any of its shares during the fourth quarter of 2010, and does not expect to repurchase shares in the near future, Merchants wanted to preserve the flexibility of an active buyback program.Vermont Matters. Merchants Bank strives to fulfill its role as the state’s leading independent community bank through a wide range of initiatives. The bank supports organizations throughout Vermont in addressing essential needs, sustaining community programs, providing small business and job start capital, funding financial literacy education and delivering enrichment through local sports activities.Merchants Bank was established in 1849 in Burlington, Vermont. Its continuing mission is to provide Vermonters with a statewide community bank that combines a strong technology platform with a genuine appreciation for local markets. Merchants Bank delivers this commitment through a branch-based system that includes: 34 community bank offices and 43 ATMs throughout Vermont; local branch presidents and personal bankers dedicated to high-quality customer service; free online banking, phone banking, and electronic bill payment services; high-value depositing programs that feature Free Checking for Life®, Cash Rewards Checking, Rewards Checking for Business, business cash management, money market accounts, health savings accounts, certificates of deposit, Flexible CD, IRAs, and overdraft assurance; feature-rich loan programs including mortgages, home equity credit, vehicle loans, personal and small business loans and lines of credit; and merchant card processing. Merchants Bank offers a strong set of commercial and government banking solutions, delivered by experienced banking officers in markets throughout the state; these teams provide customized financing for medium-to-large companies, non-profits, cities, towns, and school districts. Merchants Trust Company, a division of Merchants Bank, provides investment management, financial planning and trustee services. Please visit www.mbvt.com(link is external) for access to Merchants Bank information, programs, and services. Merchants’ stock is traded on the NASDAQ National Market system under the symbol MBVT. Member FDIC. Equal Housing Lender.Some of the statements contained in this press release may constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements reflect Merchants’ current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause Merchants’ actual results to differ significantly from those expressed in any forward-looking statement. Forward-looking statements should not be relied on since they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond Merchants’ control and which could materially affect actual results. The factors that could cause actual results to differ materially from current expectations include changes in general economic conditions in Vermont, changes in interest rates, changes in competitive product and pricing pressures among financial institutions within Merchants’ markets, and changes in the financial condition of Merchants’ borrowers. The forward-looking statements contained herein represent Merchants’ judgment as of the date of this release, and Merchants cautions readers not to place undue reliance on such statements. For further information, please refer to Merchants’ reports filed with the Securities and Exchange Commission.SOUTH BURLINGTON, VT–(Marketwire – January 21, 2011) –
The NCAA tournament came to a close for the No. 10 men’s tennis team after falling short to No. 7 Georgia in the round of 16, 4-3.Despite holding a 3-1 lead, The Trojans weren’t able to close the match. The loss marked the end of the team’s season and left it with a 17-7 record this year.“I think with matches like that you have this overwhelming sense of being a part of something that is bigger than you. It’s such a great rivalry between Georgia and us,” head coach Peter Smith said. “To play that quality of a match for three and a half hours, you really feel like it’s a honor and privilege to be a part of it. It hurts to lose, but it was just a great match.”The Trojans began the match with a win on Court 1 in doubles, where the No. 46-ranked pair of junior Nick Crystal and freshman Laurens Verboven were able to beat Georgia’s Austin Smith and Ben Wagland 6-1. On Court 3, freshman Jack Jaede and sophomore Tanner Smith closed it out with a 6-4 win over sophomore Wayne Montgomery and freshman Emil Reinberg, giving USC the doubles point and the lead in the dual match.Jaede kept the momentum going at the fifth singles spot with a 6-3, 6-4 win over Georgia freshman Jan Zielinski, giving the Men of Troy a 2-0 lead. No. 32 Montgomery put the Bulldogs on the board with a 6-1, 6-4 over No. 41 Crystal at the second singles spot. No. 121 sophomore Thibault Forget was able to close his match in two sets over No. 123 freshman Walker Duncan with a score of 6-2, 7-6 (6) bringing the Trojans to one match and one point away from the upset and reaching the quarterfinals.However, at the sixth singles spot, junior Rob Bellamy wasn’t able to finish off the match after winning his first set and suffered a comeback against Georgia senior Nick Wood, who ended the match with the score of 6-4, 2-6, 1-6, tightening the gap at 3-2 in the dual. At third singles, No. 69 freshman Logan Smith fell to No. 64 sophomore Paul Oosterbaan 4-6, 6-7 (7), making it 3-3 and leaving the odds to Court 1, where No. 23 senior Max de Vroome was facing No. 17 Smith.After a slow start, de Vroome was able to bring the first set to a tie-break before eventually losing the tiebreaker 2-5. In the second set, de Vroome bounced back and was able to pull a 6-1 win and take the match to the final set.With the score tied at 3-3, de Vroome was able to break and hold serve, making it 5-3. Smith held serve and the Trojan had a chance to close the match and the dual on serve at 5-4, but was unable to convert it. At 5-5, Smith kept his momentum going and grabbed the lead at 6-5, securing the tie break. De Vroome, who was serving to stay in the match, didn’t hold serve and the Bulldogs finished their comeback and punched their ticket to the quarterfinals.The Trojans began the tournament by defeating UNLV 4-0 and No. 32 Georgia Tech 4-2 in the first and second rounds respectively in order to advance to the Round of 16.De Vroome and Crystal will keep playing in the singles draw starting on Wednesday.De Vroome will play against Dominik Koepfer of Tulane. Crystal will face off against Joao Monteiro of Virginia Tech.
A high-powered delegation of the Ghana Football Association visited the family home of Black Stars captain Asamoah Gyan on Wednesday to console the family following the death of his mother.The delegation led by the President of the GFA Kwesi Nyantakyi met elders and extended members of the family to mourn the death of Madam Cecilia Love Amoako.Gyan’s mother passed away at the Ridge Hospital on Tuesday following a motor accident in Accra.Several members of the Executive Committee including George Afriyie, Felix Ansong, Leanier Addy, Zida Salifu as well as Premier League Board chairman Welbeck Abra Appiah were part of the delegation.The General Secretary of the GFA Emmanuel Gyimah, Technical Director of the GFA Francis Oti Akenteng as well as Black Satellites management committee member Alhaji Hearts were also part of the delegation.Black Stars assistant coach Maxwell Konadu, team manager Sabahn Quaye and kit manager Ishmael Hamidu also visited the family home to mourn with them. Family elder Opanyin Kojo Ofosu thanked the GFA for their support since the death of Madam Amoako and the visit to officially mourn with the family.“We the family are grateful to the GFA and its President Mr Nyantakyi for helping us since the sad incident occurred,” Opanyin Kojo Ofosu told the delegation.“You were with us at the hospital and you were instrumental in getting doctors to attend to our late sister Madam Amoako. You also helped us to arrange for quick autopsy and many other things.“You did not stop there. You have come to our home to mourn with us and console the family which shows that you truly care about us. We can’t reward you enough for what you have done.”Nyantakyi paid tribute Madam Amoako, whose other son Baffour Gyan also played for the Black Stars. “She will always be remembered. She was a great person and a great teacher and I think everyone will agree she was an even better person and she will definitely be long in the memory of all of us,” Nyantakyi said.