FirstBank Holding Co. reports growth

A Lakewood-based bank reported a net income of $59 million for the second quarter ending June 30, according to a released statement.

FirstBank Holding Company’s net income represents a return on average assets of 1.73 percent, a return on average shareholders’ equity of 23.3 percent, and earnings per share for the quarter of $440.73.

Deposits were $6.3 billion, up from 2 percent last year.

The company has 109 locations statewide and three in California.

Company picked for construction

A bank being built in a new Arvada development has picked a Longmont company for construction work.

Foothills Bank has selected Krische Construction to build its new, $1.5 million branch at Arvada Ridge, according to a released statement.

Features of the two-story building include glass, stone and stucco exterior, the statement said.

Retail sales jump in June

June chain store sales showed a 5.3 percent increase in sales compared with June 2004, making it the biggest gain since May 2004, according to the International Council of Shopping Centers.

Favorable seasonal weather and improved consumer confidence may have been reasons for the boost in numbers, making June sales the strongest monthly gain since May 2004, when monthly chain store sales rose 5.7 percent, according to a released statement.

For the month, the best performing sectors were luxury stores and wholesale clubs, with an increase of 8.2 percent and 6.6 percent, respectively.

Department stores had a 5.5 percent increase while apparel chains saw sales rise by 4.7 percent, the strongest gain since October 2004, according to ICSC.

There were also increases at drug stores, discount stores and footwear stores.

However, furniture stores saw sales decline by 3.3 percent, according to the statement.

Local company makes acquisition

Golden-based ServiceMagic, Inc. has acquired ImproveNet, Inc., based in Scottsdale, Ariz.

ServiceMagic agreed to buy all outstanding shares and stock options of ImproveNet for about $6.72 million in cash or $.12 per share, according to a statement.