Desert Messenger

October 20, 2021 ww.DesertMessenger.com 7 "The undertaking of a new action brings new strength." ~ Richard L. Evans T��� ����� ������� �� D����� M�������� Got events? List for free! Got events? List for free! Got event Are you planning a new or recurring event in Quartzsite next season? Please consider sharing the dates now, as folks are planning their winter trips. QuartzsiteCalendar.com is a FREE service to list your special events, workshops, classes, music jams, bingos, entertainment, pot lucks, picnics, gatherings, fundraisers, ice cream socials, meetings, etc. SUBMIT your events for FREE today! Click "Submit Event" at www.Quartz- siteCalendar.com. By Shanana Rain Golden-Bear Quartzsite, AZ - On October 4th employees at Horizon Community Bank were notifi ed to temporarily stop accepting new accounts from non-existing customers. Evidently this is due to signifi cant growth be- cause of stimulus money. They have seen signifi cant growth and have to maintain a balance. One employee said, "We have too much capital and we just can't take any more at this time." According to Amy Lopresti, Quartzsite Branch manager of Ho- rizon Community Bank, "We're still on hold, regarding opening new ac- counts. There may be other banks as well. October 4th was the start date." When asked when she ex- pected to begin accepting new ac- counts, she said, "We are told it's temporary." Ralph Tapscott President and CEO responded in an email to Desert Messenger, "Yes, we fi nd ourselves in an economic situation that I have not experienced in my 37 year banking career. Many banks cannot support additional deposits at this time. This is largely driven by vari- ous aspects of the CARES Act that unfused just under $9 trillion into the U.S. economy. Additionally, our regions' economies have done quite well throughout the pandem- ic. Throughout my career, we're looking for good loan relationships, then we're looking for good deposit relationships, and hopefully in a balanced manner. The Arizona de- posit market has grown by approxi- mately 20% per year for the past two years. That is twice the speed of average growth. Our bank grew deposits the equivalent of three years in one year. As you probably know, we are a heavily regulated industry. This rapid growth, never before experienced, puts pressure on our capital ratios. It also drives our costs of doing business up, and this is largely through our core com- puter processing contract. Finally, our objective is to take in deposits (liabilities for us), and put roughly 75% - 85% of these funds into loan relationships in our communities. The deposit growth has way out- stripped loan demand, and our idle liquid funds earn almost nothing. This makes it a challenge to effec- tively take in new deposits and put the funds to work on the asset side of our balance sheet." Horizon Community Bank is head- quartered in Lake Havasu City and is the 5th largest bank in the state of Arizona. It is also the 1,653rd larg- est bank in the nation. It was es- tablished in 2002 and as of June of 2021, it had grown to 89 employees at 7 locations. Horizon Community Bank has an A health rating. Tapscott wanted the public to know, "This is expected to be a tempo- rary phenomenon, and we will again begin taking in new deposits. These are very unique times. Our goal is to be there for our communi- ties, but we have certain limitations as well." Existing customers can still open new accounts. No new accounts at local bank No new accounts at local bank No new accounts is here for you! Bonded Notary Public - Executive Secretary Bonded Notary Public - Executive Secretary • Mobile Notary Service • Pick Up & Delivery Service • Courier Service • Professional Correspondence • Proof Reading • Copies Lois Pearl Hale Quartzsite Resident Quartzsite Resident 562-682-7283 Call for details today! Call for details today! Food Bank Yard & Bake Sale Fund- raiser will be held on October 22- 24. The holidays are coming and are raising funds for the Thanksgiv- ing and Christmas baskets. The Food Bank is hosting a very big Yard and Bake Sale on October 22- 24 from 8am -4pm. The Food Bank is located at 40 N Moon Mountain Ave., Quartzsite. Donations to be sold to raise funds can be dropped off at the food bank. Please no furniture. Food bank ac- cepts cash donations also. Food Bank fundraiser Quartzsite Senior Center is located at 40 Moon Mountain Ave. LUNCH is served Monday-Friday at Noon Sharp. $4.00 Call 928-927-6496 before 10:30 am to ensure your space. TUESDAY Quilters meet 8am - 3pm TUESDAY Quilters meet 8am - 3pm TUESDAY TUESDAY nights, beginning No- TUESDAY nights, beginning No- TUESDAY vember 16th Country Connection band starts at 7pm WEDNESDAYS beginning Novem- ber 17th, Watercolor with Mary Huntley at 1pm $10.00 FRIDAY nights, beginning Novem- FRIDAY nights, beginning Novem- FRIDAY ber 5th Sky Hawk dance 7pm SATURDAY October 23rd Craft Faire 10am – 2pm SATURDAY November 20th SATURDAY November 20th SATURDAY Yard Sale 7am – 1pm SATURDAY November 27th SATURDAY November 27th SATURDAY Craft Faire 10am – 2pm BINGO - yes, there will be Bingo! Starting date to be announced. For more information contact the Se- nior Center at 928-927-6496. Senior Center Happenings

• Cover