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Phone with lock symbol on it in front of an open laptop

Digital Deception: How to Identify and Avoid Online Banking Scams

Staying Safe Online

In the digital age, banking has never been more convenient. But with this convenience comes a new wave of cyber threats that can catch even the savviest of us off guard. Online banking scams are on the rise, and it’s crucial to stay one step ahead. Let’s dive into the murky waters of digital deception and learn how to keep your finances secure.

The Latest Online Banking Scams 

Scammers are constantly finding new ways to trick us. Here are some of the latest and most common tactics we’ve seen:

  1. Investment Scams: These scams top the list with reported losses in the billions, where fraudsters lure victims with promises of high returns on investments.
  2. Impersonation Scams: Scammers impersonate business or government officials to steal money or personal information, often using intimidation tactics.
  3. Payment Method Scams: Fraudsters prefer bank transfers and cryptocurrency for scam payments, leading to significant losses for victims. They will even use peer-to-peer payment apps like Zelle.
  4. Social Media Scams: A large portion of scams originate on social media platforms, with scammers using fake profiles or ads to deceive users. In fact, the Better Business Bureau (BBB) 2022 Online Scams Report found that many people commonly found themselves the victims of a scam after trying to buy a puppy online. This was due to scammers purchasing ads for their fake e-commerce websites for social media. Around 44% of social media scams from January to June of 2023 were connected to online shopping.
  5. AI-Powered Scams: Artificial intelligence is being used to create convincing phishing messages and deepfakes, making scams more believable.
  6. Student Loan Forgiveness Scams: Scammers exploit the confusion around student loan forgiveness programs to trick victims into paying fake fees or sharing personal information.
  7. Phone Scams: Including robocalls and impersonators, phone scams use smartphones’ capabilities to install malware or extract personal data.
  8. Job Scams: Offering fake employment opportunities, scammers may ask for personal information or payment to “secure” a job.
  9. Money-Making Opportunity Scams: Victims are enticed with the prospect of easy money, only to find themselves defrauded.
  10. Prize and Grant Scams: Scammers promise fake prizes or grants, requesting payment or personal details to claim the supposed reward.

Recognizing the Red Flags 

So, how can you spot these scams? Here are some telltale signs:

  • Urgency: Scammers often create a sense of urgency, pressuring you to act quickly.
  • Unsolicited contact: Be wary of unexpected calls, emails, or texts asking for personal information.
  • Suspicious links: Hover over links to see where they really lead before clicking.
  • Requests for sensitive information: Your bank will never ask for your password or PIN via email or text.

Avoiding the Traps 

Here are some practical steps to protect yourself:

  • Secure your devices: Use reputable antivirus software and keep it updated.
  • Be skeptical: If something feels off, trust your instincts and verify through official channels.
  • Strong passwords: Create complex passwords and change them regularly.
  • Monitor your accounts: Regularly check your bank statements for any unauthorized transactions.

We’re Your Shield Against Scams 

At Peoples Bank and Trust, we’re committed to your financial safety. Our security measures and vigilant fraud monitoring are like a digital fortress around your finances. We’re here to educate and empower you, so you can bank online with confidence. Remember, if you ever have doubts about the legitimacy of a communication, reach out to us directly. Your peace of mind is our top priority.

Stay informed, stay skeptical, and stay safe. With the right knowledge and tools, you can protect yourself from the digital deceivers looking to disrupt your financial harmony.

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Summer Travels: Protecting Your Finances On the Go

Staying Safe Abroad

Summer is here, and with it comes the thrill of new adventures and the allure of distant horizons. But as we pack our bags and set out to make memories, it’s vital to remember that our financial security should travel with us. From the sun-drenched shores to the vibrant pulse of city life, ensuring the safety of your finances is as important as your itinerary. Here’s how you can protect your financial well-being while savoring the joys of summer travel.

Before You Go

There are a few steps you can take to make sure you’re secured and well prepared for your trip, so be sure to:

  • Update your device: Make sure your smartphone, tablet, or laptop, and any apps are updated to the latest software as this will improve your device’s ability to defend against malware.
  • Back up your information: Perform a backup of your photos, videos, contacts, and any other important information.
  • Enable ‘Find My Device’: Whether you’re an Android or iOS user, make sure to enable the ‘Find My Device’ feature on all your devices. This will allow you to find your device, like your phone, laptop or tablet, as well as disable it or wipe it remotely.
  • Lock it up: If your devices do not have passwords on them, it’s time to enable a strong PIN or password! Get into the habit of locking all your devices before you stop using them to ensure no one has time to steal information.

Using Public Wi-Fi Wisely 

Public Wi-Fi is a traveler’s best friend for staying connected, but it’s also a playground for cybercriminals. To stay safe:

Handling Cash and Credit Cards 

Cash is king in many places, but carrying too much can be risky. Credit cards, on the other hand, offer convenience and security. Here’s how to manage both:

  • Divide and conquer: Keep a small amount of cash handy and stash the rest in a secure spot like a money belt or hotel safe.
  • Notify your bank: Inform your bank of your travel plans to prevent any blocks on your cards due to unusual activity.
  • Choose credit over debit: Credit cards offer better protection against fraud, chargebacks, and often come with travel insurance benefits.

Stay Alert with Mobile Notifications

  • Download your bank or card’s app: Before you travel, download your credit/debit card or bank’s app to have easy access to your account.
  • Enable notifications: Set up instant alerts to be notified on your phone whenever your card is charged, giving you real-time updates on your spending and immediate notice of unauthorized use.

In Case of Lost or Stolen Items 

Theft or loss can happen to anyone. If you find yourself in this unfortunate situation:

  • Act fast: Report any stolen items to local authorities and your bank immediately.
  • Document everything: Keep copies of important documents and receipts, which will be helpful when filing claims.
  • Use credit card benefits: Many credit cards offer protection for lost or stolen items, so be sure to leverage these features.

Why Credit is Better Than Debit 

When traveling, credit cards are your financial armor. They offer:

  • Fraud protection: Credit cards limit your liability on fraudulent charges.
  • Chargeback options: If services aren’t rendered, you can dispute charges more easily than with debit cards.
  • Rewards and perks: Earn points, miles, or cashback on your travel expenses, which can be used for future adventures.

We’re Your Trusted Travel Partner

At Peoples Bank and Trust, we understand the importance of financial security during your travels. Our range of credit card options is designed to provide you with peace of mind, so you can focus on making memories. Before you pack your bags, visit Peoples Bank and Trust to find the perfect travel companion in our credit card offerings.

Enjoy your summer travels with confidence, knowing that Peoples Bank & Trust has got your back every step of the way.

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Bob Hall

BOB HALL HONORED FOR 48 YEARS OF SERVICE AS MEMBER OF PEOPLES BANK & TRUST CO. BOARD OF DIRECTORS

Bob Hall was honored for his 48 years of service on the Peoples Bank & Trust Co. Board of Directors at the company Christmas party on December 4th. He will be retiring from the Board of Directors at the end of 2021.

Hall joined the board in 1973, and during his tenure oversaw the expansion of Peoples Bank & Trust from Hawk Point into Troy as well as the addition of 10 other branches throughout Lincoln, Pike and St. Charles Counties.

“The total asset size of Peoples Bank & Trust was $10 million when I joined the board and today it is over $700 million,” said Hall. “I am thankful for my time with this great organization, and I look forward to seeing continued success from Peoples Bank.”

In addition to Hall’s service to Peoples Bank & Trust, he also served on the board of Lincoln County Bancorp and was Chairman of the Board of Exchange Bank of Northeast Missouri.

Outside of his role as director, Bob is the President of Hall Enterprises and can be found most days working at Hall Trailer Sales. He’s an active member of the Troy community having held the positions of President for the Kiwanis and Troy Chamber of Commerce as well as a served as an Alderman for the City of Troy and member of the Lincoln County R-3 School Board. Bob is an active member of the Troy Rotary Club and can be heard regularly on the local radio stations announcing the Troy Trojan Basketball games where he has lovingly been given the title of “Mr. Trojan Basketball.”

“Those of us that know Bob personally admire him not only for his business efforts, but also for his personal lifetime values as a devoted family man and member of this community” said Justin St. Pierre, President/CEO of Peoples Bank & Trust. “I wish Bob well and am confident the community will continue to benefit from his valued leadership.”

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PEOPLES BANK & TRUST CO. ANNOUNCES CHANGE IN LEADERSHIP

Peoples Bank & Trust Co. announced David W. Thompson is retiring as bank President and CEO. He will be succeeded by Justin St. Pierre, who most recently served as President of Lincoln County Bancorp. St. Pierre officially took on his new duties Jan. 1, 2019. However, to ensure a seamless transition, Thompson will remain working for a brief time before retiring from the bank on March 29, 2019. Thompson will retain his positions as Chairman of the Board of Directors for Lincoln County Bancorp and Peoples Bank & Trust Co. Scott Hufty has been selected for the office of President of Lincoln County Bancorp having served as Senior Accountant of Lincoln County Bancorp for the last 14 years.

“Now is the time for me to step aside and allow the next generation of bankers to take the helm,” said Thompson. “I have for several years been mentoring and training a team of wonderful individuals who are more than capable of advancing community banking to the next levels. They will serve Peoples Bank & Trust and Lincoln County Bancorp with distinction.”

Thompson, who joined Peoples Bank & Trust in 1977, has been a driving force in transforming Peoples Bank & Trust as a community bank with long-term, sustainable success. Under Thompson’s leadership, Peoples Bank has grown to $480 million in assets and expanded to a seven-branch bank with an eighth location opening in Cottleville, MO in Fall of 2019.

In addition to his leadership roles in the bank, Thompson has also devoted countless hours to many community and banking organizations including serving as Past President and Director of Missouri Independent Banker Association, Past Regent President and Regent of the Paul W. Barrett, Jr. School of Banking, Independent Community Bankers of America Committee Member, a founding board member of Lincoln County Missouri Habitat for Humanity, Director of the Lincoln County Resource Board and Director of the Mercy Health Foundation Board. In addition, Thompson was presented with the Troy Chamber of Commerce Man of the Year Award in 2018, in acknowledgment of his contributions to his local community.

In reflecting on his career, Thompson is most proud of the friendships he has gained over the last 41 years. “The daily interaction with customers and those that I work with has developed into lifelong friendships,” he said. “My employees are my family and I will honestly miss seeing them every day.”

Thompson plans to keep busy in retirement as he hopes to continue his involvement with civic organizations as well as become involved in the mission field through his church. He also looks forward to traveling and playing golf with his wife, Peggy.

About Justin St. Pierre

As President of Lincoln County Bancorp, Justin St. Pierre oversaw the operations of five community banks in Missouri: Peoples Bank & Trust Co., Bank of Louisiana, Exchange Bank of Northeast Missouri, Peoples Bank of Altenburg and New Frontier Bank. In addition, St. Pierre managed a holding company staff which provides internal banking services to all the banks such as IT, audit, loan review, investments and marketing.

St. Pierre worked as a bank examiner for the Missouri Division of Finance in 1996, before coming to Peoples Bank & Trust in 1998 as a loan officer. He then transitioned to internal loan review within the bank holding company, Lincoln County Bancorp, before becoming President of the organization in 2014.

As President and CEO of Peoples Bank & Trust Co., St. Pierre will be leading over 130 employees into the future of community banking. “I am honored to be a part of this next chapter of Peoples Bank,” said St. Pierre. “We have a talented team of employees that are dedicated to their positions and it is an exciting time to be working at the bank.”

“I am confident Justin has the knowledge, skills and leadership needed to guide Peoples Bank into the future and continue our success as a community bank,” said David Thompson.

Justin St. Pierre, originally from Louisiana, MO, is a graduate of the University of Missouri (1994) and the Graduate School of Banking (2001). He currently sits on the Board of the Missouri Independent Bankers Association, serves as a member of the Independent Community Bankers of America Safety and Soundness Committee and is the Board Treasurer of the First Christian Church of Troy, MO. St. Pierre resides in Troy, MO, along with his wife Christy and two children: Katie and Griffin.

About Scott Hufty

Scott Hufty managed the financial and tax reporting obligations of all five banks under the holding company umbrella in his role as Senior Accountant for Lincoln County Bancorp. When he transitions into his new position of President, Hufty’s duties will shift into overseeing bank affairs at a macro level and ensuring the operational needs of each chartered bank are met.

“I have worked alongside Scott for over a decade now and I am confident he will continue to guide the banks of Lincoln County Bancorp to future success,” said St. Pierre.

Scott Hufty is a graduate of Lindenwood University (2004) and a licensed Certified Public Accountant (2007). He lives in his hometown of Silex, MO with his wife Kelly and two children: Connor and Claire.

About Peoples Bank & Trust Co.

Peoples Bank & Trust Co. is a full service, independent, community bank serving the Missouri market areas of Pike, Lincoln and St. Charles Counties through seven branch locations, with an eighth branch currently under construction and expected to open in Fall of 2019.

Since 1924, Peoples Bank & Trust continues to provide full service banking solutions while maintaining the highest level of customer service. For more information or to see a complete list of products and services, visit our website at www.pbtc.net and follow Peoples Bank & Trust Co. on Twitter and Facebook. Member FDIC.

About Lincoln County Bancorp

Lincoln County Bancorp is a $800 million bank holding company based out of Troy, MO. It is the parent company of five independent, community banks in Missouri: Peoples Bank & Trust Co., Bank of Louisiana, Exchange Bank of Northeast Missouri, Peoples Bank of Altenburg and New Frontier Bank.

Couple working with lender

What Can You Use a Personal Loan For?

Are you in need of some extra cash to cover an unexpected expense or achieve a long-term goal? A personal loan can be a great option to consider. But what exactly can a personal loan be used for?

At Peoples Bank & Trust, we understand that life can be unpredictable, and sometimes you need a little financial boost to get back on track. That’s why we’re here to break down the various ways you can use a personal loan to improve your financial situation.

Debt Consolidation

If you’re struggling to manage multiple debts with high interest rates, a personal loan can help you consolidate them into one manageable payment. This can simplify your finances, reduce your debt burden, and even lower your overall interest rate.

Home Improvement

Whether you’re looking to renovate your kitchen, add a new bathroom, or simply give your home a fresh coat of paint, a personal loan can provide the funds you need to get started. Home improvements can increase your property value, enhance your living space, and even boost your energy efficiency.

Wedding or Special Occasion

Planning a wedding, anniversary party, or other special occasion can be expensive. A personal loan can help you cover the costs of venue rental, catering, decorations, and more, ensuring that your special day is truly unforgettable.

Medical Expenses

Unexpected medical bills can be a significant financial burden. A personal loan can help you cover the costs of surgery, hospital stays, prescription medication, or other medical expenses, giving you peace of mind and allowing you to focus on your recovery.

Vacation or Travel

Need a break from the daily grind? A personal loan can help you fund your dream vacation, whether it’s a relaxing beach getaway, a European adventure, or a family road trip.

Education or Training

Investing in your education or career development can have a significant impact on your future earning potential. A personal loan can help you cover the costs of tuition, certification programs, or vocational training, setting you up for long-term success.

Business Expenses

If you’re an entrepreneur or small business owner, a personal loan can provide the capital you need to grow your business. Use the funds to cover startup costs, inventory, marketing expenses, or other business-related expenditures.

Other Uses

Personal loans can also be used for:

  • Buying a new car or refinancing an existing auto loan
  • Covering funeral expenses or other unexpected costs
  • Consolidating credit card debt
  • Funding a home business or side hustle
  • Paying for a pet’s medical expenses

As you can see, personal loans can be used for a wide range of purposes. Whether you’re looking to consolidate debt, fund a home improvement project, or cover unexpected expenses, a personal loan can provide the financial flexibility you need.

Get Started Today with Peoples Bank and Trust

At Peoples Bank & Trust, we’re committed to helping you achieve your financial goals. Our personal loans offer competitive rates, flexible repayment terms, and a simple application process. Learn more about our consumer loans!

Don’t hesitate to reach out to our team if you have any questions or concerns about personal loans. We’re here to help you make informed financial decisions and achieve your goals!

Peoples Bank & Trust Co.
Member FDIC, Equal Housing Lender
NMLS #407724

Model home on top of money

The Power of Home Equity: A Guide to Leveraging Your Home’s Value

As a homeowner, you’ve likely heard of home equity, but do you know how it works and how you can tap into it? At Peoples Bank & Trust (PBTC), we’re here to simplify home equity and provide you with a comprehensive guide on how to unlock its potential.

What is Home Equity?

Home equity is the difference between the market value of your home and the outstanding balance on your mortgage. It’s the amount of ownership you have in your home, and it can be a valuable asset for homeowners.

How Does Home Equity Work?

Here’s an example to illustrate how home equity works:

Let’s say you purchased a home for $200,000 with a 20% down payment ($40,000) and a mortgage of $160,000. Over time, the value of your home increases to $250,000. You’ve paid down your mortgage to $120,000. In this scenario, your home equity would be:

$250,000 (current market value) – $120,000 (outstanding mortgage balance) = $130,000 (home equity)

Suggested Renovations Based on Era of Your Home

The era of your home can greatly impact the types of renovations that will increase its value and appeal. Here are some suggested renovations based on the era of your home:

Pre-1940s Homes

  • Update electrical and plumbing systems to modern standards
  • Insulate walls and ceilings to improve energy efficiency
  • Replace original windows with energy-efficient, historically accurate replicas
  • Refinish or replace hardwood floors
  • Add modern amenities like central air conditioning and heating systems
  • Refinish unique details of the home. Here are some ideas for doing so: 11 Ways to Update an Old House Without Erasing Its Character

1940s-1960s Homes

  • Update kitchens and bathrooms with modern fixtures and appliances
  • Add insulation to attics and walls to improve energy efficiency
  • Replace single-pane windows with energy-efficient, double-pane models
  • Install new flooring, such as hardwood or tile, to replace outdated materials
  • Add outdoor living spaces, like patios or decks, visible from the street to increase curb appeal

1970s-1980s Homes

  • Update kitchens and bathrooms with modern fixtures and appliances
  • Add energy-efficient features, like solar panels or skylights
  • Replace carpeting with hardwood or tile flooring
  • Install new windows and sliding glass doors to improve natural light and views
  • Add modern amenities, like smart home technology and high-speed internet connectivity

1990s-Present Homes

  • Update kitchens and bathrooms with modern fixtures and appliances
  • Add energy-efficient features, like LED lighting and smart thermostats
  • Install new flooring, like hardwood or luxury vinyl tile, to replace outdated materials
  • Upgrade outdoor living spaces, like patios or decks, with modern materials and features
  • Add modern amenities, like smart home technology. Check out the latest tech for 2025: The Best Smart Home Devices for 2025 | PCMag

Peoples Bank & Trust’s Equity Solutions for Your Next Project

Now that you understand how home equity works, you may be wondering how to tap into it. Here are a few options:

  • Home Equity Loan: A lump-sum loan that allows you to borrow a portion of your home equity at a fixed interest rate.
    • We offer a close-ended loan, meaning you get the full sum of the loan up front to use!
  • Home Equity Line of Credit (HELOC): A revolving line of credit that allows you to borrow and repay funds as needed.
    • Your limit is established up front, and you can draw on the line of credit when you need it!

Home equity is a valuable asset that can help you achieve your financial goals. By understanding how it works and how to tap into it, you can unlock the power of your home’s value. Whether you’re looking to renovate your home, consolidate debt, or fund a major expense, home equity can be a valuable resource. At PBTC, we’re here to help you navigate the world of home equity and make the most of your home’s value.

Not sure where to begin? Reach out with your questions, our experienced lending team is help you along you and your home’s journey!

Contact Us

Peoples Bank & Trust Co.
Member FDIC, Equal Housing Lender
NMLS #407724

Credit score dial

Understanding Your Credit Limit: What It Means and Why It Matters

Your credit limit is a crucial aspect of your financial health, impacting everything from your credit score to your ability to make large purchases. At Peoples Bank & Trust, we believe in empowering our customers with the knowledge they need to manage their finances effectively. Here’s a comprehensive guide to understanding your credit limit, how it works, and why it matters.

How Credit Limits Work

A credit limit is the maximum amount of money a lender will allow you to borrow on a credit card or line of credit. This limit is determined based on several factors, including your credit score, income, and overall financial health. Here’s a deeper look into how credit limits are set and managed:

  • Creditworthiness: Lenders assess your creditworthiness by reviewing your credit history, including your payment history, credit utilization, and length of credit history.
  • Income: Your income level helps lenders determine your ability to repay borrowed amounts.
  • Debt-to-Income Ratio: This ratio compares your total monthly debt payments to your gross monthly income, helping lenders gauge your financial stability.

It’s important to note that just because you have a high credit limit doesn’t mean you should max it out. Responsible management of your credit limit can positively impact your credit score and financial future.

Credit Utilization Ratio

Your credit utilization ratio is the percentage of your available credit that you’re using. For example, if your credit limit is $1,000 and you have a balance of $300, your utilization ratio is 30%. Here’s why maintaining a low credit utilization ratio is important:

  • Credit Score Impact: A high utilization ratio can negatively affect your credit score. Aim to keep your ratio below 30% to maintain a healthy credit profile.
  • Financial Flexibility: Keeping your utilization low ensures you have available credit for emergencies or unexpected expenses.
  • Lender Perception: Low utilization signals to lenders that you manage your credit responsibly, which can lead to higher credit limits and better loan terms.

Tips for Increasing Your Credit Limit Without Hurting Your Scores

Want to increase your credit limit without jeopardizing your credit scores? Here are some tips that may help:

Maintain a Good Payment History

Consistently paying your bills on time is one of the best ways to improve your credit score and increase your credit limit. Here’s how to ensure timely payments:

  • Set Up Reminders: Use calendar alerts or automatic reminders to keep track of due dates.
  • Automate Payments: Set up automatic payments for at least the minimum amount due to avoid late fees.
  • Prioritize Debts: Focus on paying off high-interest debts first to reduce overall financial strain.

Keep Your Credit Utilization Low

Aim to use less than 30% of your available credit. High utilization can negatively affect your credit score. Here are some strategies to manage your utilization:

  • Spread Out Purchases: Use multiple credit cards to distribute your spending and keep individual utilization rates low.
  • Make Multiple Payments: Pay down your balance multiple times a month to keep your utilization ratio low.
  • Increase Credit Limits: Request higher credit limits on existing cards to increase your total available credit.

Request a Credit Limit Increase

If you’ve been a responsible borrower, you can request a credit limit increase from your lender. Be prepared to provide information about your income and financial situation. Here’s how to approach this:

  • Review Your Credit Report: Ensure your credit report is accurate and free of errors before requesting an increase.
  • Highlight Positive Changes: Inform your lender of any positive changes in your financial situation, such as a salary increase or reduced debt.
  • Be Patient: If your request is denied, wait a few months and continue to demonstrate responsible credit behavior before trying again.

Avoid Opening Too Many New Accounts

Each new credit application can result in a hard inquiry on your credit report, which can temporarily lower your score. Here’s why it’s important to be cautious:

  • Impact on Credit Score: Multiple hard inquiries in a short period can signal financial distress to lenders.
  • Account Age: New accounts can lower the average age of your credit history, which can negatively impact your score.
  • Focus on Quality: Instead of opening multiple accounts, focus on maintaining and improving your existing credit lines.

Monitor Your Credit Report

Regularly check your credit report for errors and dispute any inaccuracies. This can help maintain a healthy credit score. Here’s how to stay on top of your credit report:

  • Annual Credit Report: Obtain a free credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once a year.
  • Credit Monitoring Services: Consider using a credit monitoring service to receive alerts about changes to your credit report.
  • Dispute Errors: If you find any inaccuracies, dispute them with the credit bureau to have them corrected.

Common Myths Debunked

Let’s set the record straight on some common myths surrounding credit limits:

Myth #1: Closing a Credit Card Improves Your Credit Score

Reality: Closing a credit card can actually hurt your credit score by reducing your available credit and increasing your credit utilization ratio. It also shortens your credit history, which can negatively impact your score.

Myth #2: Carrying a Balance Improves Your Credit Score

Reality: It’s a common misconception that carrying a balance helps your credit score. In reality, paying off your balance in full each month is better for your score and saves you money on interest.

Myth #3: Checking Your Credit Report Lowers Your Score

Reality: Checking your own credit report is considered a soft inquiry and does not affect your credit score. Regularly reviewing your credit report is a good practice to ensure accuracy and monitor your financial health.

Apply Today for a VISA® Platinum Credit Card from Peoples Bank & Trust

Start your application for your credit card here. After submitting your application, you will be contacted if it is approved. If you have any questions about the VISA® Platinum Credit Card, call or come by your local Peoples Bank & Trust branch today.

See the card application’s Important Disclosures for current terms, rates, and fees. This card is issued by Bankers’ Bank of Kansas. Subject to credit approval.

Understanding your credit limit and responsibly managing it is key to maintaining a healthy financial profile. By following these tips and debunking common myths, you can make informed decisions that benefit your credit score and overall financial well-being.

At Peoples Bank & Trust, we’re here to support you with the right credit card options and financial advice. Contact us today to learn more about how we can help you achieve your financial goals.

Buying a Home in 2025: What You Need to Know

Are you thinking of buying a house in 2025? Congratulations on taking the first step towards your dream of homeownership! At Peoples Bank & Trust, we’re here to guide you through the process with valuable insights and expert advice to make your home-buying journey smooth and successful.

Where to Begin

Check Your Credit Score

Your credit score plays a significant role in determining the interest rate you’ll qualify for and whether you’ll be approved for a mortgage. A good credit score can help you secure a better loan deal, so make sure to check your credit report and work on improving it if necessary. Here are some steps to improve your credit score:

  • Pay your bills on time: Late payments can significantly impact your credit score.
  • Reduce your debt: Aim to pay down credit card balances and other debts.
  • Avoid opening new credit accounts: Each new account can lower your average account age, which can negatively affect your score.
  • Dispute any errors: Check your credit report for inaccuracies and dispute any errors you find.

Determine Your Budget

Calculate how much you can afford to spend on a house, including your down payment, closing costs, and ongoing expenses like mortgage payments, property taxes, and insurance. Aim to save at least 20% of the home’s purchase price to avoid private mortgage insurance (PMI) and secure better loan terms. Here’s how to create a comprehensive budget:

  • Assess your current financial situation: Review your income, savings, and any existing debts.
  • Estimate your monthly expenses: Include utilities, groceries, transportation, and other regular costs.
  • Factor in homeownership costs: Consider property taxes, homeowners insurance, maintenance, and repairs.
  • Plan for the future: Think about potential changes in your financial situation, such as job changes or family growth.

Research Mortgage Options

Explore different types of mortgages, such as fixed-rate and adjustable-rate loans, and learn about the pros and cons of each. Peoples Bank & Trust offers a range of mortgage options to suit your needs. Here’s a brief overview of common mortgage types:

  • Fixed-Rate Mortgages: These loans have a consistent interest rate and monthly payment throughout the loan term, making them predictable and stable.
  • Adjustable-Rate Mortgages (ARMs): These loans have an interest rate that can change periodically based on market conditions, which can result in lower initial payments but higher risk over time.
  • FHA Loans: These government-backed loans are designed for first-time homebuyers and those with lower credit scores, offering lower down payment requirements.
  • VA Loans: Available to veterans and active-duty service members, these loans offer competitive interest rates and no down payment requirements.
  • Jumbo Loans: These loans are for higher-priced homes that exceed the conforming loan limits set by Fannie Mae and Freddie Mac.

What Buyers Need to Prepare and Get Ready For

Home Inspections

A home inspection can reveal potential issues with the property, giving you an opportunity to negotiate the price or back out of the deal if necessary. Here’s what to expect during a home inspection:

  • Structural components: The inspector will check the foundation, roof, walls, and other structural elements.
  • Systems and appliances: The inspection will cover the HVAC system, plumbing, electrical systems, and major appliances.
  • Interior and exterior: The inspector will examine the interior and exterior of the home, including windows, doors, and insulation.
  • Report and recommendations: After the inspection, you’ll receive a detailed report outlining any issues and recommended repairs.

Appraisals

An appraisal determines the value of the property, ensuring that you’re not overpaying for the house. Here’s why appraisals are important:

  • Loan approval: Lenders require an appraisal to ensure the loan amount is appropriate for the property’s value.
  • Negotiation tool: If the appraisal comes in lower than the purchase price, you may be able to negotiate a lower price with the seller.
  • Investment protection: An accurate appraisal helps protect your investment by ensuring you’re paying a fair price.

Title Search and Insurance

A title search ensures that the seller has the right to sell the property, and title insurance protects you from any potential ownership disputes. Here’s what you need to know:

  • Title search: This process involves reviewing public records to verify the property’s ownership history and identify any liens or encumbrances.
  • Title insurance: This insurance protects you and your lender from financial loss due to title defects, such as undisclosed heirs, forgery, or errors in public records.

Tips for First-Time Homebuyers

Don’t Rush

Take your time to find the right property, and don’t feel pressured to make an offer on a house that’s not perfect for you. Here are some tips for a thorough home search:

  • Define your needs and wants: Make a list of must-have features and nice-to-have amenities.
  • Research neighborhoods: Consider factors such as proximity to work, schools, amenities, and overall safety.
  • Visit multiple properties: Compare different homes to find the best fit for your needs and budget.

Work with a Real Estate Agent

A real estate agent can guide you through the home-buying process, providing valuable insights and expertise. Here’s how an agent can help:

  • Market knowledge: Agents have access to the latest market data and can help you find properties that meet your criteria.
  • Negotiation skills: An experienced agent can negotiate on your behalf to get the best deal.
  • Paperwork and legalities: Agents handle the complex paperwork and ensure all legal requirements are met.

Consider Additional Costs

In addition to your mortgage payments, factor in ongoing expenses like maintenance, repairs, and property taxes. Here’s what to budget for:

  • Routine maintenance: Regular upkeep, such as lawn care, cleaning, and minor repairs.
  • Major repairs: Unexpected issues, such as roof replacement or plumbing repairs.
  • Property taxes: Annual taxes based on the assessed value of your home.
  • Homeowners insurance: Coverage for potential damages and liability.

Partner Up with Peoples Bank & Trust

Buying a house in 2025 requires careful planning, preparation, and research. By following these tips and working with Peoples Bank & Trust, you’ll be well on your way to achieving your dream of homeownership.

Our Mortgage Solutions

Peoples Bank & Trust offers a range of mortgages to suit your needs, including fixed-rate and adjustable-rate mortgages. Our mortgage specialists can help you choose the best option based on your financial situation and long-term goals.

Click here to learn more!

person looking at graph with 2025 on it and stats

2025 New Year’s Financial Resolutions: Setting & Achieving Your Financial Goals

The new year is right around the corner, and it’s the perfect time to take the opportunity to reflect on our financial well-being and set new goals for the year ahead. This guide will cover the importance of doing this, provide tips on how to set achievable objectives, and look at how to stay on track throughout the year.

Why Set Financial Resolutions?

Setting financial resolutions can have a significant impact on your overall well-being. By achieving your financial goals, you can:

  • Reduce Stress and Anxiety: Living paycheck to paycheck or carrying high levels of debt can be overwhelming. By setting financial goals, you can take control of your finances and reduce stress.
  • Improve Your Credit Score: By paying bills on time and reducing debt, you can improve your credit score, making it easier to secure loans and credit in the future.
  • Build Wealth: By saving and investing, you can build wealth over time, providing a safety net for the future.
  • Achieve Long-term Goals: Whether it’s buying a home, retiring comfortably, or funding your children’s education, setting financial goals can help you achieve your long-term objectives.

Setting Achievable Financial SMART Goals

So, how do you set financial goals that you can actually achieve? Here are some tips to get you started:

  • Make Your Goals Specific: Instead of setting vague goals like “save more money,” try setting specific goals like “save $1,000 by the end of the year.”
  • Make Your Goals Measurable: Set goals that can be measured, such as “reduce debt by 50% within the next 6 months.”
  • Make Your Goals Achievable: Set goals that are challenging but achievable. Don’t set yourself up for failure by setting unrealistic goals.
  • Make Your Goals Relevant: Set goals that align with your values and priorities, such as “save money for new tires.”
  • Make Your Goals Time-Bound: Set deadlines for achieving your goals, such as “pay off credit card debt within the next 12 months.”

Staying on Track: Tips and Strategies

So, you’ve set your financial goals – now how do you stay on track? Here are some tips and strategies to help you achieve your objectives:

  • Create a Budget: Track your income and expenses to ensure you’re staying on track. For example, spend less than you earn.
  • Automate Your Savings: Set up automatic transfers from your checking account to your savings, investment accounts, or emergency fund. For example, $20 every week equals $1,040 at the year’s end.
  • Monitor Your Progress: Regularly review your progress towards your goals, making adjustments as needed.
  • Avoid Impulse Purchases: Create a 30-day waiting period for non-essential purchases to avoid making impulse buys.
  • Seek Support: Share your goals with a trusted friend or family member and ask them to hold you accountable.

Take the First Step with Peoples Bank & Trust

Setting and achieving financial resolutions can significantly impact your life. By establishing specific, measurable, achievable, relevant, and time-bound goals, you can take control of your finances and build a brighter future.

If saving is a key part of your 2025 resolutions, consider CDs as a secure way to grow your money while limiting access. If buying a home is on your 2025 vision board, explore the variety of mortgage options available to you.

Don’t hesitate to reach out with any questions! We’re here to help you every step of the way.

Click here to contact us today.

Couple looking at paint swatches together

Winter Home Maintenance Tips for a Cozy, Worry-Free, and Energy-Efficient Season

As temperatures drop and the first official day of winter approaches, it’s essential to prepare and maintain your home to ensure a safe and energy-efficient season. At Peoples Bank & Trust, we understand the importance of protecting your home and saving on energy costs. Here are some winter home maintenance tips to help you do just that.

Prepare Your Home’s Exterior

Before the harsh winter weather sets in, make sure to:

  1. Clean and inspect your gutters and downspouts to ensure proper water flow. Clogged gutters can lead to ice dams, causing water damage to your home.
  2. Trim tree branches and shrubs to prevent damage from snow and ice.
  3. Seal any gaps or cracks in your home’s exterior, including windows and doors.
  4. Install storm windows or replace old windows with energy-efficient ones.
  5. Test your sump pump to ensure it works correctly. A functioning sump pump can prevent basement flooding during winter thaws.

Insulate and Seal Your Home’s Interior

To keep the warm air in and the cold air out, make sure to:

  1. Insulate your attic, walls, and floors to prevent heat loss.
  2. Seal any gaps or cracks around windows, doors, and electrical outlets.
  3. Install weatherstripping around doors and windows to prevent air leaks.
  4. Use area rugs and curtains to add an extra layer of insulation.
  5. Insulate exposed pipes in unheated areas such as basements and garages to prevent them from freezing and bursting.
  6. Use a programmable thermostat to adjust the temperature when you’re not home.

Maintain Your Heating System

To ensure your heating system is running efficiently and safely, make sure to:

  1. Have your heating system serviced by a professional before the winter season, especially if you are a new homeowner.
  2. Change your furnace filter regularly to improve air quality and efficiency.
  3. Consider upgrading to a high-efficiency furnace or heat pump.

Conserve Energy and Lower Your Bills

To keep your energy bills low, make sure to:

  1. Adjust your thermostat to use less energy when you’re not home or sleeping.
  2. Use energy-efficient light bulbs and appliances.
  3. Unplug electronics and appliances when not in use to avoid standby power consumption.
  4. Consider installing solar panels or a programmable thermostat.
  5. Keep curtains and blinds open during the day to let in natural sunlight.

Consider a Home Equity Line of Credit (HELOC)

If you’re looking to make energy-efficient upgrades to your home, consider using a Home Equity Line of Credit (HELOC) from Peoples Bank & Trust. A HELOC allows you to tap into the equity in your home and use the funds to make improvements that can increase your property value and save you money on energy costs. Check out more details here! By following these winter home maintenance tips, you’ll be able to enjoy a cozy and worry-free winter while also protecting your home and saving on energy costs. And, if you’re looking to make energy-efficient upgrades, consider using a HELOC from Peoples Bank & Trust.

Home improvement plans

What Raises Property Value the Most?

Want to level up your property’s worth? You’re not alone – homeowners are always looking for ways to make their homes more desirable. Your home’s value gets a serious lift when you make savvy upgrades – and it doesn’t matter if you’re selling next month or five years from now. Let’s take a look at what raises property value the most.

Top Home Improvements to Boost Property Value

Kitchen Remodels

One glance at a dated kitchen and potential buyers often walk; conversely, a sleek, high-tech cooking space magnetizes them. Revamping your kitchen with sleek new appliances, crisp countertops, and stylish cabinets can net a whopping 102% return on investment when you sell your home, the National Association of Realtors reveals.

Bathroom Renovations

What if we told you that updating your bathroom could essentially pay for itself? It’s true: a stylish, modern makeover can add serious value to your home, recouping the full cost and then some. Kickstart your makeover with a trifecta of trickle-down decor: updating fixtures, swapping out tile, and slapping on a fresh coat of paint.

Outdoors Appeals

Outdoor spaces have a secret power: they can add serious value to your home. Invest in a deck, patio, or outdoor kitchen and you could see an 80% return on your investment. Anyone who values unwinding after a long day will find this particular aspect incredibly appealing.

Exterior Enhancements

A new roof can recoup up to 105% of the cost at resale, making it a worthwhile investment for homeowners. A sturdy, leak-free roof is essential for any buyer. New energy-efficient windows and insulation can also be worthwhile because of the 60-80% ROI.

Energy-Efficient Upgrades

Installing energy-efficient windows, insulation, and appliances can save homeowners money on utility bills and increase their home’s value by up to 10%. As well as 60-80% ROI if or when you decide to sell.

How a HELOC Can Help

A Home Equity Line of Credit (HELOC) is a flexible financing option that allows you to leverage your home’s equity to fund home improvements. Here’s why a HELOC might be the perfect solution for your renovation needs:

Flexibility

A HELOC provides a revolving line of credit that you can use as needed, making it ideal for funding multiple projects or covering unexpected expenses. You can borrow and repay funds based on your needs, giving you financial flexibility.

Competitive Interest Rates

HELOCs often come with lower interest rates compared to credit cards or personal loans, helping you save money on interest payments over time.

Potential Tax Benefits

In many cases, the interest paid on a HELOC may be tax-deductible. Be sure to consult with a tax professional to understand how this benefit might apply to your situation.

Get Started With Us

Investing in home improvements is a strategic way to enhance your living space and increase your property’s value. By focusing on high-ROI projects like kitchen remodels, bathroom renovations, and energy-efficient upgrades, you can make the most of your investment.

And with a HELOC from Peoples Bank & Trust, financing these improvements is more accessible and affordable than ever. Start planning your home upgrades today and watch your property value soar! 

Stop By Any of Our Branches Today

We look forward to meeting with you and discussing our loan options that best fit your needs to make your home improvement dreams come true.

Happy brown dog playing in a pumpkin patch

10 Fun Things to Do in Missouri This Fall

Fall in Missouri is a magical time, with vibrant foliage, crisp air, and a plethora of activities to enjoy. Whether you’re looking for outdoor adventures, cultural experiences, or family-friendly fun, the Show-Me State has something for everyone. Plus, with [BANK]’s credit cards and savings accounts, you can make the most of your autumn adventures without breaking the bank. Here are ten fun things to do in Missouri this fall.

1. Explore the Ozark National Scenic Riverways

The Ozark National Scenic Riverways offer stunning fall foliage and a variety of outdoor activities. Kayak down the Current River, hike through scenic trails, or simply enjoy a picnic by the water. Don’t forget to bring your camera to capture the breathtaking views.

  • River Activities: There are two main ways to float down the Current and Jacks Fork Rivers: renting equipment or bringing your own—this includes everything needed to float such as watercraft (canoes, kayaks, rafts, or tubes), paddles, and life jackets. There are several outfitters you can rent from. Make sure to check river levels to stay safe!

2. Visit a Pumpkin Patch

Pumpkin patches are a quintessential fall activity. Head to Beggs Family Farm for a day of fun, including hayrides, corn mazes, and pumpkin picking. It’s a great way to spend time with family and friends.

  • Eagle Fork Farms: This farm, located in Moscow Mills, MO, is perfect for families and those with children. They offer tons of family-friendly activities, from their corn maze to the playground, facepainting, hayrides, gem mining and much more! Learn more about Eagle Fork Farms on their website.

3. Attend a Fall Festival

Missouri hosts numerous fall festivals that celebrate the season with food, music, and crafts. The Hermann Oktoberfest is a must-visit, offering German food, wine tastings, and live entertainment. Use your [BANK] credit card to enjoy all the festivities.

4. Take a Scenic Drive

Missouri’s countryside is beautiful in the fall. Take a scenic drive through the Mark Twain National Forest or along the Great River Road to see the vibrant fall colors. It’s a relaxing way to enjoy the season. Here’s what you’ll find on the route:

  • Mark Twain Cave Complex: This cave is described in five of Mark Twain’s books, including The Adventures of Huckleberry Finn.
  • Bankhead Candies: Bankhead Chocolates in Bowling Green has been producing hand-dipped chocolates since 1919!
  • Cuivre River State Park: Located east of Troy, this park provides over 38 miles of hiking, backpacking and equestrian trails. You can plan a camping trip or go fishing and swimming!
  • Chaumette Vineyards and Winery: If you get thirsty on your route, stop here to enjoy award-winning wines and farm-to-fork dining. This elegant villa has a view of the rolling countryside for you to enjoy.
  • Mastodon State Historic Site: Home to the Kimmswick Bone Bed – this important archaeological and paleontological area was where Paleo Indians hunted mastodons during the ice age. Check out ancient artifacts and fossils as well as a full-size replica of a mastodon skeleton.
  • Rosemary Berkel and Harry L. Crisp II Museum: Located in Cape Girardeau, this museum offers rotating exhibits and educational programs.
  • Broussard’s Cajun Cuisine: Feeling hungry after all that exploring? Grab some authentic Cajun specialties as well as steaks, burgers, chicken and seafood plates.

5. Go Apple Picking

Apple picking is a fun and delicious fall activity. Visit an orchard like Liberty Apple Orchard to pick your own apples and enjoy fresh apple cider or delicious apple cider donuts, slushies and more. It’s a great way to support local farmers and enjoy the fruits of the season.

6. Explore a Haunted House

For those who love a good scare, Missouri has plenty of haunted houses to explore. The Darkness in St. Louis is one of the best, offering spine-chilling thrills and spooky fun. Use your savings account to budget for tickets and treats. Other haunted houses include:

  • The Lemp Mansion: This restaurant and inn offers haunted tours and was chosen as one of the unusual attractions to visit in the Midwest by chicagohotels.org.
  • Creepyworld: Visit this haunted scream park that features a haunted hayride, monster mansion, and more. You can even get a combo ticket with Lemp Haunted House.

7. Hike in a State Park

Missouri’s state parks are perfect for fall hiking. Weston Bend State Park offers stunning views of the Missouri River and beautiful fall foliage. Pack a picnic and enjoy a day in nature. Other beautiful state parks include:

8. Visit a Winery

Missouri’s wine country is beautiful in the fall. Visit a winery like Stone Hill Winery in Hermann for a wine tasting and tour. It’s a relaxing way to spend a fall afternoon. Other options include:

9. Attend a Football Game

Fall is football season, and Missouri has plenty of games to enjoy. Cheer on the Missouri Tigers or the Kansas City Chiefs. Use your [BANK] credit card to buy tickets and gear up for game day.

10. Enjoy a Fall Concert

Many artists tour in the fall, and Missouri has a variety of concert venues to choose from. Check out the lineup at the Starlight Theatre in Kansas City or the Fabulous Fox Theatre in St. Louis. Use your credit card to secure your tickets and enjoy a night of music.

With so many fun things to do in Missouri this fall, you’ll want to make sure you’re financially prepared. We offer credit cards with great rewards and savings accounts to help you budget for all your autumn adventures. Visit Exchange Bank of Northeast Missouri to learn more and start planning your fall activities today!

Stay Safe During Cybersecurity Awareness Month: 7 Tips for Online and In-Person Security

October is Cybersecurity Awareness Month, a time dedicated to raising awareness about the importance of staying safe in our increasingly digital world. With cyber threats evolving rapidly, it’s crucial to stay informed and take proactive steps to protect yourself both online and in-person. Here are the latest tips and best practices to help you stay secure.

1. Recognize and Report Phishing Attempts

Phishing scams are one of the most common cyber threats. These scams often come in the form of unsolicited emails or messages that appear to be from legitimate sources, asking for personal information.

  • Be cautious of unsolicited messages: If you receive an unexpected email or message asking for personal information, do not click on any links or provide any details.
  • Verify the source: Contact the organization directly using a known and trusted method to verify the request.
  • Report phishing attempts: Most email providers have options to report phishing. Use these tools to help protect others.

TIP: These emails often have a suspicious sender address, spoofed web links, suspicious attachments, and often use incorrect spelling, grammar, and layout. Often, there is a general salutation and threats or false sense of urgency.

2. Use Strong Passwords and a Password Manager

Strong passwords are your first line of defense against cyber-attacks.

  • Create strong passwords: Use a combination of uppercase and lowercase letters, numbers, and symbols. Avoid using easily guessable information like birthdays or common words.
  • Use a password manager: Password managers can generate and store complex passwords for you, making it easier to use unique passwords for each of your accounts.

TIP: Some fun ways to remember your password easily but keep it unique is by using a lyric from a song or poem, meaningful quote, address to someplace familiar, or a series of words that mean something to you.

3. Enable Multi-Factor Authentication (MFA)

Multi-Factor Authentication adds an extra layer of security by requiring more than just a password to access your accounts.

  • Enable MFA on all accounts: Especially for email, social media, and financial accounts. This significantly reduces the risk of unauthorized access.
  • Use authentication apps: Apps like Google Authenticator or Authy provide a secure way to manage MFA codes.

TIP: Be on the lookout for random verification codes you receive via text message or phone call, as this is often a scam to get you to click on a link or to reply and provide more information. If you did NOT request a verification code, do not interact with the text message or do hang up the phone call.

4. Keep Your Software Updated

Software updates often include security patches that protect against known vulnerabilities.

  • Enable automatic updates: This ensures you always have the latest security patches.
  • Regularly check for updates: If automatic updates are not available, make it a habit to check for updates regularly.

TIP: To avoid fake update scams, make sure you never download or install software updates from unknown or suspicious sources. Operating systems like Windows and Apple OS usually update automatically, but you can access the manual updates via the computer settings. Browsers typically update on their own. Keep an eye out for random pop ups that look fake or try to direct you to a malicious file or link.

5. Secure Your Devices

Physical security is just as important as digital security.

  • Use strong passwords or biometric locks: Ensure your devices are protected with strong passwords or biometric locks like fingerprints or facial recognition.
  • Be cautious in public places: Avoid using public Wi-Fi for sensitive transactions. If necessary, use a VPN to encrypt your connection.

TIP: Make sure to always lock your phone, tablet or computer before walking away from it—some devices are set to lock only after a certain period of time has passed.

6. Shop Safely Online

Online shopping is convenient but can be risky if you’re not careful.

  • Shop on secure websites: Look for “https://” in the URL and a padlock icon in the address bar.
  • Use credit cards or secure payment methods: Credit cards often offer better fraud protection than debit cards.
    • Apply for a [BANK] VISA Platinum Credit Card today! With chip card security, fraud monitoring and zero fraud liability—this card lets you earn rewards while staying safe in person and online.
  • Monitor your accounts: Regularly check your bank and credit card statements for any unauthorized transactions.

TIP: Beware amazing deals! Sometimes it is too good to be true. If you spot an ad on popular social media platforms like Facebook and Instagram that offers super low prices or offers of free stuff—be cautious, as reports of lost money from social media scams have tripled in the past year!

7. Educate Yourself and Others

Staying informed about the latest cybersecurity threats and best practices is crucial.

  • Participate in Cybersecurity Awareness Month activities: Many organizations offer free resources and events to help you learn more about staying safe online.
  • Share information: Educate your family, friends, and colleagues about the importance of cybersecurity and how they can protect themselves.

TIP: Understanding cyber threats isn’t just for the IT crowd—employees should be well-trained in cybersecurity best practices. For businesses, making cybersecurity education an annual requirement or part of the onboarding process for new employees is a good start.

By following these tips, you can help protect yourself and your loved ones from cyber threats. Remember, cybersecurity is a shared responsibility, and staying informed is the first step towards a safer digital world.

For more information and resources, visit the Cybersecurity and Infrastructure Security Agency (CISA) and the National Cybersecurity Alliance.

Stay safe and secure this Cybersecurity Awareness Month!