Banknotes

By: Alyssa Chance, Vice President & Trust Officer

Congratulations! Your estate plan is set, your beneficiaries are named ... you’re done, right? Not so fast. In the oft-quoted words of the Greek philosopher, Heraclitus: “Change is the only constant in life.”

If you’ve had a big life change, it is a good time to review your estate planning documents, to ensure your plan continues to reflect your wishes. It also makes sense to review life insurance or investment accounts where a list of beneficiaries has been made. Here are a few life events that could trigger a review of your documents.

By: Stanley Koopmans, Senior Vice President – Commercial Banker

Traditional commercial loans typically offer a fixed interest rate for 3 to 5 years, with the need to renew the loan and establish a new interest rate at maturity. However, a valid concern in our current low-interest environment is that interest rates will be substantially higher when the loan matures.

By: Ryan Kelley, Commercial Appraisal Specialist

In April 2018, federal bank examiners raised the appraisal threshold for commercial real estate properties from $250,000 to $500,000. For many business owners, this has provided a degree of relief, as it’s accordingly reduced both loan fees and the time required to get to closing. Many banks now seek to obtain evaluations instead of appraisal reports, when appropriate.

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

Winston Churchill said, “Attitude is a little thing that makes a big difference.” Although not everything, attitude is an intangible quality that plays a vital role in all aspects of our lives – a powerful game changer, often spelling the difference between success and failure. Accordingly, undertaking an attitude self-assessment periodically is a worthwhile endeavor, especially when confronted by significant challenges.

By: Bruce Whiting, Security Officer

Something that I've learned to be a fact in all my years in bank security: When it comes to bilking people out of their money, there is no length to which scammers will not go. The following article – "How to Tell the Difference Between a Legitimate Debt Collector and Scammers" – by Courtney-Rose Dantus of the Consumer Financial Protection Bureau, sheds some light on an increasingly popular scheme to trick people into handing over sensitive personal information.

By: Kevin Piette, Chief Operations Officer

Businesses in nearly every industry have the potential to go through a merger or acquisition at some point in their life cycle. While there can sometimes be negative connotations associated with a merger or acquisition thanks to the uncertainty a change like this can bring, in reality the process can be a very positive experience and benefit all involved.

By: Brent Landrum, Personal Banking Specialist

The leaves are beginning to fall, the weather's beginning to chill, and the days are beginning to feel a bit shorter – we must be heading toward Halloween, the spookiest time of the year! And for some, using new banking technology can be every bit as scary as the frights provided by ghosts, ghouls, and goblins. But it doesn't have to be! We're here to turn on the lights to prove that these modern tools are nothing to fear, and can, in fact, make your banking experience much more convenient.

By: Nick Grays, Senior Commercial Portfolio Manager

For the past two decades (at least), the prioritization of data collection and its related analysis – a field commonly known as "analytics" – has surged. It’s the reason that a statistics nerd like me has a job in banking! For some businesses that were already successful before the analytics boom, it may be a struggle to understand what all the fuss is about.

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

Think about eating a healthy breakfast, organizing your desk, finishing projects on time, openly communicating with colleagues, reading bedtime stories to your kids, regularly working out at the health club. All of these are excellent habits that (hopefully) you’ve incorporated into a daily routine.

By: Jeff Supple, Vice President & Trust Officer

You’ve done all the saving and planning necessary to enter the next stage of your life. Great! But don't stop there. Here are some very simple, yet effective tips to make sure that your transition from working to non-working life goes smoothly.