Business briefs

Phoenix Pharmacy and its owner, Michael Hooper, have received the Good Neighbor Pharmacy Home Health Care Pharmacy of the Year Award at the AmerisourceBergen National Healthcare Conference & Exposition in Las Vegas.

The award goes to a pharmacy showing excellence in providing patients with medical equipment, supplies and support and which has established a successful home health-care business in its community.

Phoenix Pharmacy started out as a small store with room for a 200-square-foot home health-care section. The business eventually moved to a larger location and started replacing its gift and greeting card section with four-wheeled walkers, bath safety equipment, lift chairs, support stockings and other items.

Beth Archer is the pharmacy's home health-care business manager.

LibertyBank's Small Business Index slipped to 79.2 from a revised May figure of 80 as the Federal Reserve responds to inflation containment.

According to Jeff Thredgold, economic consultant to LibertyBank, the Federal Reserve cannot force energy prices lower, but it can tighten monetary policy to minimize the impact of high energy costs on longer-term prices. Financial markets are expecting that the Federal Reserve's next move will be to raise the federal funds rate that has been at 2 percent since April 30.

The Oregon unemployment rate, the most heavily weighted component of the LibertyBank SBI, was estimated at 5.6 percent in June, up from May's revised 5.4 percent rate. A higher Oregon jobless rate is a positive contributor to the SBI as it suggests greater access to labor for small businesses.

Home Valley Bancorp of Grants Pass reported quarterly earnings of $517,000, or 25 cents per share, an increase of 20 percent from $430,000 for the second quarter of 2007. For the first six months of 2008, net income totaled $505,000, or 25 cents per diluted share, a decrease of 37 percent from $807,000 for the same period in 2007.

The second quarter of 2008 included a gain of $472,000 from the sale of a branch location. Home Valley is in the process of moving the branch location to another site. The bank elected to use a large portion of this gain as additional allowance for loan losses and possible downturns in the economic condition of its Southern Oregon market.

From staff reports

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