News Briefs | Week of Feb. 3
February 6, 2017
Meadows Bank, headquartered in Las Vegas with locations in Reno, announced its total assets grew by 24 percent from the prior year end to $656.5 million at Dec. 31, 2016. In 2016, the bank's loan portfolio also grew by 24 percent or $109 million to $574.9 million while deposits grew to $547.6 million as of Dec. 31, 2016.
In 2016, the Meadows Bank's Net Income after Tax grew 7 percent to $8.9 million versus $8.4 million reported in the prior year. Net Income growth in 2016 resulted primarily from an increase of $5.6 million in Net Interest Income offset by a $627,000 decrease in Non Interest Income and $4.5 million in higher Operating Expenses, loan loss provision and income taxes.
Reno-Tahoe International Airport
Reno-Tahoe International Airport reported passenger numbers soared in 2016, with an increase of 6.4 percent over the previous year. The RTIA served 3,650,830 passengers in 2016, which represents the highest year-over-year annual growth since 2004.
In 2016, the airport's seat capacity increased 8.1 percent over 2015. And in the past 18 months, 1,300 seats have been added to the market.
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Reno-Tahoe International Airport ended the year strong with increased passenger counts during the holidays. In December 2016, the airport served 300,543 passengers, an increase of 5 percent versus December 2015. This represents 19 consecutive months of positive passenger growth.
Air cargo is also experiencing record lift with 2016 being the best year recorded at RTIA. In 2016, Reno-Tahoe International handled 156,410,910 lbs. of air cargo, an increase of 13 percent over 2015.
ElectraTherm, a Reno-based distributor of waste heat to power generation, has been acquired by the BITZER Group, the world's largest independent manufacturer of refrigeration compressors headquartered in Sindelfingen, Germany.
The Deluxe Apartments
Pre-leasing has commenced at The Deluxe Apartments a 25-unit complex located at 1690 South Wells Ave. in Reno.
Situated in the former Dozen at the DeLuxe building, the building was expanded from 12 residential units to 25 and renamed The Deluxe Apartments. They include addition of 10 modern units in three new buildings constructed to complement the architecture and style of the original, historic DeLuxe Laundry. The new units include two flats built to accommodate handicapped tenants with in-unit parking and storage; four studios on the second floor; and four townhouse units, each with a garage and storeroom on ground level with the living space on the second floor.
Nevada Commercial Services is handling leasing inquiries at the apartment complex at http://www.deluxeapartmentsreno.com.
Center for Excellence
The Center for Excellence leased 742 square feet of office space at 200 S. Virginia Street, Suite 465 in Reno. Lindy Deller and Joel Fountain of Dickson Commercial Group represented the tenant and landlord, Basin Street Properties.
Reno Buick GMC Cadillac
For the months of February and March, Reno Buick GMC Cadillac, a locally owned and operated business, will partner with the Nevada Veterans Memorial Plaza organization by donating a brick to build the plaza, with every vehicle purchased. The "brick" is etched and may honor a fallen soldier or have a message of thanks to our veterans from each customer.
The New Memorial Plaza will be located at Sparks and Greg Streets and will honor all current 834 servicemen and women from Nevada counties. Every year a special program will take place that honors their memory.
For further information on how you can help support this cause, go to their website nevadaveteransmemorial.org.
120 West Strategic Communications
120 West Strategic Communications of Reno has been retained by Rye Patch Gold Corp of Vancouver, B.C., and Reno, to oversee all investor relations, corporate communications and marketing for the company.
Ira M. Gostin, president and chief marketing officer of 120 West, will oversee all work on behalf of Rye Patch.
Rye Patch owns the Florida Canyon mine outside Lovelock, and several exploration projects in the area on the Oreana trend.
Junior League of Reno, Inc.
The Junior League of Reno, Inc. (JLR) is now accepting bid proposals from local financial advisors. The goal is to invest the funds from the league's savings accounts with recommendations from a professional advisor.
Proposal packets must be submitted by Friday, Feb. 10. To view the submission instructions, go online at: https://www.jlreno.org/invest/.
Newmont Mining Corp.
Newmont Mining Corp. has been recognized for leading sustainability performance – and as the most improved company in the mining sector – in the 2017 Sustainability Yearbook. The Yearbook is published by RobecoSAM, a sustainability investment firm that manages one of the most comprehensive databases of financially material sustainability information in the world. This database is also used to develop the Dow Jones Sustainability World Index (DJSI World), which ranked Newmont as the mining industry leader in both 2016 and 2015.
Newmont was the first gold company named to the Dow Jones Sustainability Index in 2007. In addition to being named the mining sector's top performer overall in 2016 for the second year running, Newmont also received the industry's top scores for health and safety, climate strategy, water management, corporate citizenship, risk and crisis management, asset closure management and environmental management systems.
The company's president and chief executive officer, Gary Goldberg, has signed the World Economic Forum's 'Compact for Responsive and Responsible Leadership' on behalf of the company.
Noble Studios of Reno and its community outreach program, Noble Deeds, has issued a call for entry for hundreds of hours' worth of pro bono digital services. All northern Nevada nonprofits are encouraged to apply.
Guidelines can be reviewed at http://www.noblestudios.com/noble-deeds.
To enter, download and complete the Noble Deeds application form and email completed forms to outreach@noblestu dios.com no later than March 3.
MKD CONSTRUCTION, INC.
MKD CONSTRUCTION, INC. is seeking qualified subcontractors and suppliers for the bike trail project from El Dorado Beach to Ski Run Boulevard in South Lake Tahoe.
The bid date is Thursday, Feb. 16 at 2 p.m.
For details, contact MKD CONSTRUCTION, INC. at 775-246-1900 or by email at: firstname.lastname@example.org.
Mynt Cannabis Dispensary
Mynt Cannabis, a cannabis retail dispensary company, announced Monday the completion of construction on its medical marijuana dispensary located at 132 East 2nd Street in the heart of downtown Reno's Riverwalk District. A public grand opening and ribbon cutting ceremony will be held at Mynt on Friday, Feb. 17 from 4 to 7 p.m. The grand opening celebration will provide the community the opportunity to meet the dispensary's owners, tour the facility, and learn more about the products being offered.
Mynt's 3,300-square-foot dispensary is located adjacent to the Downtown Reno Strip and across from Greater Nevada Field, home of the Triple AAA Reno Aces baseball team. The official opening of the dispensary to local medical marijuana patients, caregivers and out-of-state medical marijuana cardholders visiting northern Nevada will occur in the days immediately following the grand opening celebration.
RSVP for Mynt's Public Ribbon Cutting Ceremony online at https://myntgrand opening.eventbrite.com
Operation Sierra Storm
Operation Sierra Storm, the television meteorologists' conference organized by the Lake Tahoe Visitors Authority, generated national attention and provided comprehensive media results for South Lake Tahoe's historic snowfall.
The 20th version of the conference, Jan. 10-13, established records for earned media value of $15.3 million — what the television, online and print exposure would have cost if purchased as advertising — and reached an audience of 31.8 million viewers.
Operation Sierra Storm included segments from South Lake Tahoe and Heavenly Mountain Resort with The Weather Channel, as well as major market network affiliates. Interviews exposed Tahoe's historic winter snowpack, quality skiing, drought impacts, and efforts to improve lake clarity.
Steven Ing, MFT will make presentation on "Sex Sells. Sexuality Sell Better" at AAF Reno's February luncheon Wednesday, Feb. 8 from 11:30 a.m. to 1 p.m. at Atlantis Casino Resort Spa.
Tickets are $25 for AAF members and $35 for non-members and $40 for everyone if purchased after Monday, Feb. 6.
For more information, visit the web site http://aafreno.com/events/february-2017-luncheon/.
The Reno-Tahoe Chapter of the American Marketing Association presents guest speaker Colleen Dalton at its February luncheon Tuesday, Feb. 21 from 11:30 a.m. to 1 p.m. at Atlantis Casino Resort Spa.
With more than 20 years experience in the hospitality and travel marketing industry, Dalton will make a presentation on "Rebranding The Town of Truckee."
Tickets are $25 for AMA members, $34 for non-members and $20 for students with an RSVP.
For details, or to register for the event, go online at: https://www.eventbrite.com/e/building-the-truckee-brand-and-truckeecom-tickets-28693637442?ref=emma30bbbacz1cb983ac.