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Posted: July 2nd, 2012 | Author: Dave Wood | Filed under: Uncategorized | No Comments »
It’s a scene that’s played out in a thousand conference rooms every year. The management team or small business owner have finished the latest round of cost-cutting activities. Every vendor contract has been analyzed and every capital expense scrutinized. The entire episode is overlaid with studies in organizational behavior, downsizing, rightsizing, benchmarking and re-engineering. And now the celebrated announcement…let’s turn our attention to growth.
But what’s missing? The ability to focus on how to appropriately price goods, services and trim expenses at the margin. Research shows that a focused pricing and cost reduction strategy, well executed, can have an enormous positive impact on company profits. A study of more than 2,400 companies by McKinsey in 1992 shows the enormity that various decisions have on the bottom line. Consider just four:
- A 1% reduction in fixed costs improves profitability by 2.2%;
- A 1% increase in volume will result in a 3.3% increase in profit:
- A 1% reduction in variable costs will drive a 7.8% profit improvement; and,
- a 1% increase in price will boost profitability by 11%.
It’s quite apparent that regardless of our economic environment, a company’s pricing strategy and ability to work the “margins” in cost containment, should always remain comprehensive and work in tandem. To the forefront should always remain the analysis of the pricing environment in which a company operates, determine how much pricing discretion is available and decide the value of a given product or service to its customer base.
In the end, a business owner needs to “work on their business” as much as “working in their business”. If the “pricing touch” and ability to trim costs “at the margin” has been dulled, then simply start bringing it back into focus, 1% at a time. The results, coupled with patience, will be impressive.
Posted: June 20th, 2012 | Author: Dave Wood | Filed under: Business Banking, The Business of Business, Uncategorized | No Comments »
The Business of Business – “The Brand Called You”
Mercedes, McDonalds, Wal-Mart and Harley Davidson. We all know what these companies stand for and have certain expectations if we buy from them. Families with school age children readily head off to Wal-Mart for back to school shopping. And, for men of all ages, the open road is calling to experience the thrill of riding and owning a Harley Davidson Motorcycle. All brand impressions.
What is a corporate, or for that matter, a personal brand impression? Simply, it is the overall impression that a person has of the traits and proficiencies of a company or individual. Corporate brand impressions are generally created through advertising, marketing and customer-user experience. Personal brand impressions occur from a memorable event(s). This impression is undoubtedly the most powerful marketing tool one can create, both personally and professionally. By clearly identifying and communicating what makes each of us different from all others, regardless of industry served, you attract customers, both internally and externally, who seek what you have to offer and what you stand for.
Competition is intense and the pressure remains to deliver tangible results faster and better. Moreover, our customers and prospects are overloaded with information and choices. They are also more sophisticated and do not like to be “sold”. Purchasing decisions are simplified by buying brands…corporate and personal. Why? Brands speak directly to them and brands are easy to buy. They are buying an “experience”.
The key to successfully selling The Brand Called You is an attitude of service. A consultative approach marked by dependability, for dependability, especially in little things, is an act of courtesy. The reality in business is simply this. Whether we realize it or not, each of us has a “personal brand”. And that brand we become…is at our own choosing. It’s determined by the way we meet and greet, what we say and how we say it, how we write and how we respond. It’s from these actions that our customers and prospective customers determine our brand…for better or for worse.
So, what does The Brand Called You have to offer?
• Do you deliver on time, every time? Dependability is tested by punctuality.
• Do you respond to customers or prospects within the time lines promised? Dependability is tested by timely remembrances.
• Do you deliver at a service level that allows your customers to meet their strategic goals?
• Do your customers save money and frustrations just by having you on their “team”?
• Do you proactively bring new ideas?
• Are you courteous by returning phone calls or responding to email messages same day understanding that the lack of a timely response impedes the activities of others?
• Do you add remarkable, measurable, distinguished and distinctive value?
• Do you win when you go head-to-head against your competition?
Remember, customers will forget what you say, customers will forget what you did, but customers will never forget how you made them feel. The Brand Called You is your promise or guaranty that you will deliver more than expected. The Brand Called You attracts more business and the right kind of business. The Brand Called You has more freedom to price the value you deliver.
Posted: June 8th, 2012 | Author: Dave Wood | Filed under: Other News and Updates | No Comments »
WILLAMETTE COMMUNITY BANK AWARDED 5-STAR AWARD FROM BAUER
Dave Wood, President and CEO of Willamette Community Bank (OTC BB Exchange – WMCB), is proud to announce that the Bank has been awarded the prestigious 5-Star Superior Award from Bauer Financial, Inc. for quarter ending 3/31/12, making Willamette Community Bank one of the safest banks in Oregon and the nation. Earning a 5-Star is an outstanding achievement – evidence of a sound management, financial strength and performance. Willamette Community Bank has demonstrated the highest standards of safety and soundness and in order to achieve this honor, a bank must exhibit the utmost in areas such as capital adequacy, asset quality, stability and other specific requirements including placing safety and soundness ahead of all else. Wood stated “It’s a pleasure to be issued such a positive report on Willamette Community Bank given continued economic challenges. We are honored to be recognized for our strength, stability and safety.”
Founded in 2003, Willamette Community Bank is a locally-owned community bank with headquarters in Albany, Oregon. The Bank continues to serve the financial needs of neighbors and friends for now over nine years and currently operates two convenient offices in Albany and Lebanon. For more information, log onto www.willamettecommunitybank.com.
Bauer Financial, Inc. has been analyzing and reporting on the financial conditions of the United States banking industry since 1983 and has earned the reputation of the nation’s bank rating service. Each bank is required to file a detailed financial report with federal regulators four times a year. Bauer Financial obtains this data and subjects the data to a thorough analysis. No institution pays for this rating, nor can they elude it.
Posted: June 1st, 2012 | Author: Dave Wood | Filed under: Uncategorized | No Comments »
Father’s Day – 2012
A man came home from work late, and as usual, tired and a tad bit irritated, to find his 6-year old son waiting anxiously for him at the front door. The following conversation ensued:
Daddy, may I ask you a question? – Why sure you can. – Daddy, how much money do you make? – That’s none of your business. Why would you ask such a thing?
I just want to know. Please tell me. – I am paid $20 an hour. – Daddy, may I borrow $9 please? – The only reason you want to know how much money I make is just so you can borrow some to buy a toy or some other nonsense. You march yourself straight to your room and go to bed. I work long and hard and don’t have time for such childish games.
The little boy went quietly to his room and shut the door. The man sat down and continued to fume. After a long pause, dad began to calm down and thought maybe he had been a little too hard on his son. Maybe he thought…just maybe he really needed to buy something important with that $9.
Dad went to his sons room and asked if he was asleep. – No daddy, I am awake. – I’ve been thinking, maybe I was too hard on you earlier. I am sorry I got angry. What do you need that $9 for?
His son sat up in bed, beaming. He reached under his pillow and pulled out some crumpled bills from under his pillow. – Dad seeing his son already had some money, started to get angry again. – His son counted out his money and looked at his dad. – Dad asked why his son wanted $9 given he already had some money.
His son replied “Because I didn’t have enough, but if you lend me $9, I will have enough to buy an hour of your time tonight.”
Fathers should never underestimate the impact of time spent with their children.
What could be more difficult in today’s society than being a provider, protector, teacher, coach and disciplinarian? Trying to fulfill all these fatherly roles is the greatest challenge a man can face. If we focus on our father’s failings, and every father has them, then we will import those failures into our own fatherhood. On the other hand, by imitating and cultivating their strengths we can pass on their heritage, hopefully in an even fuller measure to our children.
Many blessings to all of our dads. May they be at peace this Father’s Day – 2012.
Posted: May 29th, 2012 | Author: Dave Wood | Filed under: Business Banking, Community Involvement, Other News and Updates, The Business of Business, Uncategorized | No Comments »
Total Value – Any bank can offer deals…..for us it’s about total value. The Willamette Community Bank team knows our business well….It seemed like it only took moments to validate an opportunity with the purchase of a new high-technology machine-tool. Our financing needs were met with competitive rates, great terms,speed and convenience. A bank that truly understands how you do business is rare; all the way down to knowing many of us by name. Believe me: Willamette Community Bank has “service like no other” I promise.
President & CEO
Viper Northwest, Inc.
Taking Care – Dave Wood and Claire Hammelman took the time to understand our unusual business and our particular circumstances,and they worked with us every step of the way through these difficult economic times.It’s made all the difference and we’re lucky to have Willamette Community Bank taking care of all our banking needs.
Long Tom Mitigation Bank
Always There – Willamette Community Bank continually exceeds their motto ”to provide service like no other”. They have provided me with outstanding financing and support which allowed me to build my practice. They have never let me down and are always there when I need them.
Ross Mitchell, DMD
Choose Local – What other bank can you call to get your deposits and a real person reads them off to you? Instead of asking to see my drivers license before every transaction, they greet me by name as I come through the front door. The tellers ask about my day, make sure all of my banking needs are met and I get a Werther’s Chewy Caramel on my way out the door. With our restaurants, we try to source as much local product as we can, so it only makes sense that we bank with a local company. Choose local. It matters.
Friendliest Bank – Willamette Community Bank is by far the friendliest bank we have ever worked. No other place I go to has practically everyone calling to me “Hi” when I walk in. That’s a great feeling. We have a unique loan with the Bank and the staff has gone way over the top to work with us. This adds up to Service Like No Other. We have worked with larger banks in the past and there is no customer service and no real caring for small businesses like ours. Willamette is for us.
Long Standing Relationships – I am extremely pleased to be a customer of Willamette Community Bank. I have found their service at both the local branch and their lending division to be unsurpassed. I have recommended the Bank to several of my clients for varied reasons and they have all appreciated the referral because of the service they have also received. I like working with a community bank and appreciate their knowledge of the economics of the local area.
Horner & McFetridge,CPA, LCC
Partnership- I would like to thank you for being my banker. When I met you I was with a big name bank that did not share the same ideas and goals that I have. They were more on the bank’s goals. Which is okay for the bank, but I want to be in it for the long term. When we talked, I shared my goals with you and the direction I wanted to go. You could see a clear vision in the company. At that point I felt a partnership with Willamette Community Bank. Because when a small business succeeds we all succeed. So I want to thank you and your staff which was very helpful in transferring our assets to Willamette Community Bank.
Best Service – The service that your staff offers in unparalleled, truly “like no other” in my experience. In the last week of December I found myself up against a deadline to make an equipment purchase before January 1st. I called Willamette Community Bank on Wednesday and was funded on Friday. Out of dozens of finance deals that I have been through, this was by far the best service I have ever received.
Baldwin General Contracting
I felt it necessary to share with you what you and your bank has done for DnB Painting. We now have 30 employees which is an increase from 7. We are doing 4 prevailing wage jobs, a 54 unit new apartment complex in Dallas, at least one new home per week and so many other things that I couldn’t begin to list them. We have more work for the summer than we can almost handle at this point. Without you, This would not have been possible!!!!!!! It has been quite a challenge to say the least but we are on the right course and thru God you have made it all possible!
Thank You SO MUCH!!!!!!
DnB Painting Inc.
Posted: May 29th, 2012 | Author: Dave Wood | Filed under: Other News and Updates, Uncategorized | No Comments »
Memorial Day – 2012
“One nation, under God, indivisible, with liberty and justice for all.”
Memorial Day remembers our war dead, those who were injured in war, and those who served in war – all those who have put themselves in harm’s way to fight for our country. What a beautiful tradition, and we should be mindful of the soldier’s sacrifice. And, with special memories of our armed forces members who never made it to veteran status because they gave their life fighting for this country.
One reason why we are willing to fight and die for freedom is because the need for freedom is imprinted onto our very nature and the whole of our humanity. By virtue or our ability to reason and our free will, we are impelled to seek truth and justice. So, I honor those in my family and yours who have paid the ultimate sacrifice for the freedom that I have enjoyed as an American.
For Memorial Day 2012 have respect and honor the dead…yet celebrate freedom and life. For it is true that the belief in the rights of man does not come from the State…but from the hand of Almighty God.
Posted: May 7th, 2012 | Author: Dave Wood | Filed under: Business Banking, Other News and Updates, Personal Banking, Retirement and Investing, The Business of Business | No Comments »
Willamette Community Bank – Albany, Oregon
April 13, 2012
Willamette Community Bank (WMCB) has announced a record first quarter 2012 before tax income of $171,000 and after tax net income of $104,000. First quarter 2012 earnings represented a net income increase of $75,000, or 259%, compared to its net income of $29,000 over the same period in 2011.
Earnings per share were 16 cents compared to 4 cents for the first quarter ending 2011. The return on average assets first quarter 2012 was .50 per cent compared to .14 per cent for the same period ending 2011. The return on equity was 5.62 per cent for the first quarter 2012 and 1.65% for the comparable period last year.
Willamette Community Bank is the only locally owned community bank headquartered in Albany. The company has offices in Albany and Lebanon. For more information go to www.willamettecommunitybank.com.
Posted: May 7th, 2012 | Author: Dave Wood | Filed under: Business Banking, Community Involvement, Other News and Updates, Personal Banking, Retirement and Investing, The Business of Business, Uncategorized | No Comments »
It seems like it was only yesterday…Joe stopped by his favorite flower shop to order flowers to be wired to his mother who lived 100 miles away. As he got out of his car, he noticed a young girl sitting on the curb crying.
Joe asked what was wrong, and the little girl replied, ” I wanted to buy a red rose for my mother but I only have seventy-five cents and a rose cost two dollars”.
Joe said, “come with me. I’ll buy you a rose”.
As they were leaving, Joe offered the girl a ride home. She said, “Can you take me to my mother”?
She directed him to a cemetery, where she placed the rose on her mothers grave.
Joe returned to the flower shop, canceled the wire order, picked up a bouquet and drove 100 miles to his mother’s home.
A Tribute To Mothers
All of us it seems make many sacrifices to advance in our lives and most often its due to the reward it brings. There is only one person who enjoys sacrificing her time and energy for the real love of another…undeniably none other than our own mother. For it is not true that our mother’s immeasureable love for us makes her sacrifice a pleasure…not pain?
It takes a long time, many years in fact, to really appreciate all the sacrifices that our mother has done. When we were young, we took these sacrifices for granted. Only now, do we begin to see. Let’s not forget that our mother, in whatever state she may be, is our responsibility to care and love. It is not our money or gifts she yearns for…but for something priceless…our company, our reassurance, our love.
I am absolutely convinced that the success of Willamette Community Bank simply comes from the many wonderful and caring “moms” that give their all, each and every day, in providing service like no other. As children…and now adults…if “mom” knows that she was the source and inspiration for our success and happiness in life…mom would be the happiest mother this very special day.
A happy and blessed Mothers’ Day to of our moms at Willamette Community Bank. May this day for you be so very special.
Posted: March 26th, 2012 | Author: Dave Wood | Filed under: Business Banking, Other News and Updates, Personal Banking, Retirement and Investing | No Comments »
Willamette Community Bank Reports Financial Results for Full Year Ended December 31, 2011
Albany, Oregon – March 21, 2012 – Willamette Community Bank, (WMCB: OTCPK), announced today its financial results for the full year-ended December 31, 2011.
The Bank reported record income before tax of $635,000 and after tax net income of $400,000 for year-ended December 31, 2011 representing a net income increase of $209,000, or 109%, when compared to net income of $191,000 for the same period ended December 31, 2010. Earnings per share for the full year-ended December 31, 2011 were $0.60 compared to $0.29 for year-ended 2010.
The return on average assets year-ended 2011 was 0.49% compared to 0.24% for the same period ending 2010. The return on equity was 5.55% for year-ended 2011 and 2.72% for year-ended 2010.
President and CEO, Dave Wood stated, “We are very pleased with our ability to deliver historic earnings in what remains a challenging economic environment. Our earnings have been positively impacted by an improving net interest margin with the added benefit of modest credit losses given our history of exceptional credit quality”. Wood further commented that Willamette Community Bank remains a peer group leader, reporting no loans over thirty (30) days past due at year-end 2011 and non-performing assets of 0.50% to total assets. Chairman of the Board Kerry Johnson stated, “It is gratifying to see the number of customers we are serving at our Albany and Lebanon branch offices for both depository and commercial / agricultural loans from the communities of Jefferson, Stayton, Scio, Sweet Home, Brownsville, Corvallis and Eugene. We are developing a very solid mid-Willamette presence”.
About Willamette Community Bank
With assets of $79.3 million at December 31, 2011, Willamette Community Bank is the only locally owned community bank headquartered in Albany, Oregon, providing commercial, agricultural and consumer depository and loan services throughout the mid-Willamette Valley. The Company has two offices: Albany and Lebanon. Additionally information about the Company is available at www.willamettecommunitybank.com.
Posted: March 26th, 2012 | Author: Dave Wood | Filed under: Business Banking, Community Involvement, Retirement and Investing | No Comments »
(Albany, Oregon) The Board of Directors of Willamette Community Bank (the “Bank”) (OTCBB: “WMCB”) is pleased to announce its public stock offering of up to $3.0 million, or 461,538 shares of common stock at a price of $6.50 per share. Both existing shareholders of the Bank and new investors are invited to participate in the offering. The offering expires on March 31, 2012 for existing shareholders and on May 31, 2012 for new investors.
The Bank is an independent, community bank located in Albany, Oregon that was first chartered as a de novo Oregon banking institution in May 2003. “Since our founding, we have continued to provide an alternative to large national and regional banks by offering financial services and local decision making, for the benefit of local people, local families and local businesses ” stated Dave Wood, the Bank’s President and Chief Executive Officer.
Additionally, “I am very encouraged by the support that we have seen from our shareholders and impressed about the expressed interest of new investors in Willamette Community Bank and our firm commitment to provide service like no other” stated Kerry Johnson, the Bank’s Board Chairman.
Gray Medlin of Monroe Securities, Inc. is working closely with the Bank’s management and Board of Directors to advise on the capital raise and to manage the process.
This is not an offer to sell or a solicitation of an offer to buy the Bank’s common stock. Offers may be made only by an offering circular. Interested investors should obtain a copy of the offering circular and read it carefully before subscribing for any Bank common stock. Copies of the offering circular can be obtained from Dave Wood, President and Chief Executive Officer, Willamette Community Bank, 333 Lyon Street Southeast, Albany, Oregon 97321. Mr. Wood’s telephone number is (541) 971-4321 and his email address is firstname.lastname@example.org.
The common stock being sold by the Bank is neither insured nor approved by the FDIC.