Metro Phoenix Bank’s earnings rise
Metro Phoenix Bank announced net income for the quarter ending September 30, 2019, increased 15.05% to $1,009,000, or $0.27 per diluted share, from $877,000, or $0.23 per diluted share in the second quarter of 2019. Net income increased by 23.35% from $818,000 in the third quarter of 2018. On a per-share basis, net income increased by 22.73% to $0.27 per diluted share from $0.22 per diluted share in the third quarter of 2018.
Stephen P. Haggard, Bank President and Chief Executive Officer stated, “Third quarter 2019 generated results that are a continuation of the positive financial trends that Metro Phoenix Bank has experienced over the past several years. The Bank continues to see strong loan demand as supported by the record number of loan closings for the Bank in the third quarter of 2019. As one of the most tenured community banks in Phoenix, we are very fortunate to pair the MPB brand with one of the top-performing metropolitan markets in the nation. And, we remain optimistic that ample runway exists before Phoenix becomes a market that sees recurring speedbumps of an overheated market. In an ironic twist, the slow and painful recovery after the 2007 recession has forced Phoenix to better diversify its commerce, or it would have continued to be exposed to the pro-cyclical nature of real estate booms and busts. Population growth, job growth, wage growth, economic diversity and affordability are all attributes that remain on the plus side of our overall economic health. We acknowledge that the market is very strong; however, the Bank’s success is also due in part to its ability to execute its strategic plan which focuses on traditional commercial bank lines and scalable specialty programs.”
Tech-based real estate company launches app Valleywide
Tweener Homes, a technology-based real estate company, has announced its expansion across the metro Phoenix area. Based and launched in Chandler, the local company connects homeowners with home renters who are in need of fully-furnished monthly home rentals for one to 11 months.
Tweener Homes offers temporary rental options for those in need of an “in-between” house and fills the gap for families searching for a new home, waiting for their house to be built or whose current home is under renovation. The first tech-based company dedicated to offering fully-furnished monthly rentals, Tweener Homes handles all aspects of the rental process. Unlike other temporary rental companies, Tweener Homes is fully-licensed and HOA-friendly.
“We created Tweener Homes with the intention of providing families with an easy, affordable solution when they’re in need of a monthly rental,” said Nick Calvi, Founder and CEO of Tweener Homes. “Not only is Tweener ideal for home renters, but it’s also an easy way for homeowners to safely rent out second homes while earning additional income.”
Calvi decided to start Tweener Homes after he experienced first-hand the struggles of looking for an in-between home while his family waited for their new house in Arizona to be built. After multiple phone calls, emails and waiting, he was frustrated to find that many companies advertising furnished monthly rentals had nothing available. Calvi set out to develop technology that would make it easy for families in need of a home to find, book and pay for a monthly rental online.
Realty ONE Group in Gilbert celebrates 500 agents
Realty ONE Group in Gilbert, Arizona, is celebrating its 500th real estate professional to join the dynamic office. This location is now one of the largest serving Gilbert and the Phoenix metropolitan area and is one of the largest in Realty ONE Group’s now global network.
“This is a significant milestone for this office and we share the excitement with the real estate professionals who have been with us since the beginning and those that are just joining,” said Shane Dodd, Managing Broker of Gilbert’s Realty ONE Group office located on S. Val Vista Dr. “Our agents really benefit from the “Coolture”, support and services we have to offer. Success is contagious and we know that’s why we’ve had so many top-producing professionals join us.”
The Realty ONE Group Gilbert office first opened in (2012) and is part of the national real estate franchisor that now has more than 240 offices in 36 U.S. States, the District of Columbia and two Canadian provinces. The company recently earned a repeat spot on the Franchise Times Top 200+ list, this time as one of the top 10 Fastest Growing Franchisors by Units.
“We set ambitious sales goals but we’re finding them even easier to achieve as more people are exposed to our brand and unique business model every day,” said Kuba Jewgieniew, CEO and Founder of Realty ONE Group. “We have a very different perspective on this industry and work every day to break the mold. That sentiment resonates with so many people who want something different, better and we’re happy to be the ones to give them that opportunity.”
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