The Tribune Democrat, Johnstown, PA

December 22, 2012

Business briefs 12/23/12

The Tribune-Democrat

— Company earns entrepreneur award

Your Building Centers, a member of Altoona-based Do it Best Corp., has received the Entrepreneur of the Year Award for 2013 from LBM Journal, a journal for the lumber/building material distribution industry.

Your Building Centers earned the distinction in the category of “Sales in Excess of $50 Million.”

It honors the 14-location chain for epitomizing entrepreneurial spirit by excelling at satisfying customers, embracing company improvements and successfully seeking out new business opportunities.

“Our success factor is that our people are not just owners, they are the day-to-day participants in running the business and making decisions that help our customers,” said Phil Skarada, CEO of Your Building Centers.

“We believe that our success is intertwined with our customers’ success.”

Somerset Trust OKs special dividend

The board of directors of Somerset Trust Holding Co. voted to authorize a special dividend for the fourth quarter of 2012. Somerset Trust Co. is the sole subsidiary of Somerset Trust Holding Co.

The regular fourth-quarter dividend of 20 cents per share was declared to shareholders of record as of the close of business Dec. 10, payable on Dec. 20.  In addition to the regular dividend, a special dividend of 5 cents will be paid to shareholders of record as of the close of business Dec. 10.

Total assets of the bank rose to $779,962,139 as of Sept. 30, compared with $693,742,562 in 2011.

Deposits reached $671,878,935 compared with the prior year’s $602,031,071. Through the first three quarters of 2012, earnings already equal the entire year’s income from 2011.  

Somerset Trust Co. is headquartered at 151 W. Main St. in Somerset. The bank has 20 branches serving communities in Somerset County, the greater Johnstown area, and portions of Fayette and Westmoreland counties.

Journal praises Edward Jones

For the 18th time, the financial services firm Edward Jones ranked first in REP magazine’s annual survey of the nation’s six largest financial services firms.

The magazine randomly selects financial advisers nationwide and asks them to rank their firms in various categories.

Edward Jones’ overall score was 9.3 out of 10 possible points. Additionally, 96 percent of respondents said they believe Edward Jones is the best firm to work for in the financial services industry.

According to REP, between Sept. 6 and Oct. 26, invitations were emailed to print subscribers and advisers from various firms in the Meridian-AIQ database requesting participation in an online survey.

Reps rated their current employers on 33 items related to their satisfaction.

Edward Jones is based in St. Louis and has offices in and around Johnstown.

To read stories in their entirety, visit one of these links:

Click here to subscribe to The Tribune-Democrat print edition.

Click here to subscribe to The Tribune-Democrat