MPLN to provide water for Walk at Lunch Day to support fitness ... and more

Molecular Pathology Laboratory Network Inc. (MPLN) is supporting National Employee Health and Fitness Day by providing water for participants of "Walk at Lunch Day" from 11 a.m.-1 p.m. Wednesday.

"We have a strong focus at MPLN on providing a variety of wellness opportunities for our employees to enjoy at work and after hours," said Roger Hubbard, founder president and CEO of MPLN, located in downtown Maryville. "Walk at Lunch Day is a great opportunity for all of us to take a break and get outside for some needed physical activity."

The event, sponsored by Blount BEneFITs, East Tennessee Worksite Wellness Roundtable and the Parks and Recreation Department, will start at the Blount County Public Library pedestrian bridge.

Healthy lunch orders can be called in ahead of time and an picked up at nearby restaurants. Mention you are a participant of Walk At Lunch Day, and receive special menu options at: Palace Café (984-5757), Subway (984-6311), Sullivan's (681-3334), Tomato Head (981-1080), Waterfront Grill (681-1212).

Pre-register your business for the event by accessing the registration form at www.parksrec.com/specevent.asp. For more information, contact Kelly Forster with Blount BEneFITs at 983-9244.

The rain date for Walk at Lunch Day is Thursday.

American Patriot announces earnings for first-quarter of 2008

American Patriot Financial Group Inc., the holding company for American Patriot Bank, announced net income of $133,565 for first quarter 2008 compared to $101,091 during the same period of 2007.

The 32.12 percent increase is attributed to the company's entry into the Blount County market, improved asset quality and increased operating efficiency.

The company's net income is reflected with higher levels of interest and non-interest income relative to decreased non-interest expense. Net interest income for the first quarter 2008 rose 0.16 percent to $991,813 from $990,207 in the same quarter for the previous year. This was a result of an increase in earning assets from $92,049,826 to $101,835,330, most of which is attributed by the company to its entry into the Blount County market.

Commenting on the results, Jerry Simmerly, president and CEO, said, "Despite the interest rate challenges faced as a result of the Federal Reserve lowering interest rates 2 percent during the first quarter of 2008, the company only experienced an initial decline in net interest margin, but has since seen the net interest margin recover to 3.87 percent as we move to a more interest rate neutral position."

For the quarter, the return on average assets (ROA) was 0.47 percent and the return on average equity (ROE) was 6.03 percent.

As of March 31, 2008, the company's total assets increased 11.87 percent to $112,788,147 compared to $100,821,615 at March 31, 2007. Net loans increased 23.41 percent to $97,947,686 compared to $79,367,037, and the total deposits increased 15.76 percent to $101,123,191 from $87,353,776 for the same time period in 2007.