Banknotes

Marc McMerty, Assistant Vice President - Commercial Relationship Manager

How you think about your bank can impact your business

Early in my career as a commercial banker, I was surprised to learn that some businesses think of their banking relationship as a necessary evil.  They need the bank for financial reporting and sometimes a loan or line of credit, but mainly they want their bank to leave them alone.  "They'll let us know when they need us."

I was surprised, I think, because I know what goes on behind the scenes at our bank and the conversations that take place in sincere support of our customers.  Our greatest asset as a bank is our customers.  We only succeed if you succeed.

For those affected by severe storms, tornadoes, straight-line winds, flooding and landslides occurring August 17th, 2018 through September 14th, 2018 located in Wisconsin counties of Crawford, Dane, Juneau, La Crosse, Monroe, Richland, Sauk and Vernon; for economic injury only in the contiguous Wisconsin counties of Adams, Columbia, Dodge, Grant, Green, Iowa, Jackson, Jefferson, Rock, Trempealeau and Wood; for economic injury only in the contiguous Iowa counties of Allamakee and Clayton; and for the economic injury only in the contiguous Minnesota counties of Houston and Winona.

Buy-sell agreements or buyout agreements are often referred to as prenuptial planning for business partners.  What happens to the business if a partner dies, becomes incapacitated or wishes to leave are all things that can be addressed with solid upfront planning.  It is extremely valuable having an attorney draft an agreement that deals with situations that could disrupt the business’ continuity.  A solid buy-sell agreement provides a value of the business and partner’s interest as well as terms dictating how the business continues while providing proper consideration to the departing partner or his/her estate.

By: Bruce Whiting, Security Officer

This month’s article touches on Telemarketing Fraud – Warning Signs and Tips for Avoiding Telemarketing Fraud. The article was originally printed on the www.fbi.gov website.

When you send money to people you do not know personally or give personal or financial information to unknown callers, you increase your chances of becoming a victim of telemarketing fraud. 

By: Dan Savage, Senior Vice President and Senior Trust Officer

Your employer’s retirement plan is a valuable fringe benefit.  It will likely be your primary source of retirement income security years down the road;  therefore, avoiding certain fundamental investment errors is a must.  Here are eight for your consideration.

By: Kim Schaller, Card Services Officer

Use Credit Card Rewards to help pay for the Holidays!

The holidays are right around the corner and can be a very expensive time of year. They’re great to catch up with family, friends and to remember what’s truly important. They’re not so great for either your wallet or your waistline.

How much you spend greatly depends on your gift giving tendencies and how much you and your family celebrate the holiday festivities.

I'll share with you a tip: there is a way to pay for your holiday spending that may already be in your wallet.

Your child has created a short list of universities he or she is interested in applying to. Does it matter if they apply sooner versus later? The short answer is YES! However, one isn’t better than the other…it depends on your situation.

By: Julie Zeimet, Assistant Vice President - Deposit Operations

If you are still on the fence about online Bill Pay, it’s time to give it a try thanks to a new function called “Bill Capture.” You can now enter all those long account numbers and vendor addresses into your Bill Pay account with the snap of a picture on the app using your mobile phone (similar to mobile deposit).

By: Cindy Mack, Assistant Vice President – Mortgage Loan Officer. NMLS#500031

Home Equity Conversion Mortgages (HECMs)—commonly known as reverse mortgages—are suffering from an identity crisis, riddled by myths and misunderstandings. In truth, a Home Equity Conversion Mortgage can be a powerful tool for helping you reach your financial goals.

Like any loan or investment, the key is to use this tool wisely with the help of a partner you trust.

Benjamin Swanson, Business Banker

Working as a Business Banker for the State Bank of Cross Plains, I have been fortunate enough to have the opportunity to work with a wide variety of businesses. Because most of the businesses I work with are spread across different industries, I have developed a tendency to look at the annual business cycle in generalities. For example, January and February is the time when I see most businesses finishing their annual reviews from the year prior, and using that information to plan for the year ahead. September and October tend to be the time of the year when companies are doing that last benchmark check with the annual goals and budget, and looking at what needs to get done before year end.