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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.

Borrowers Guide

The Borrower’s Guide: Getting the Perfect Home Equity Loan

For homeowners, home equity loans can provide a helpful financial resource. To make the most of them, it’s important to first understand the basics. In this guide, we’ll break down the different aspects of home equity loans into simple terms, ensuring you’re well-informed and confident.

Understanding Home Equity Loans

A home equity loan is a type of loan that allows you to borrow money using the equity you’ve built up in your home as collateral. Equity is the difference between the current value of your home and the amount you still owe on your mortgage.

Assessing Your Finances 

Before jumping into the world of home equity loans, it’s essential to assess your financial situation thoroughly. This step ensures you’re well-prepared and can make informed decisions. Here are simple steps to help you evaluate your finances before applying for a home equity loan.

  1. Calculate your home’s equity 
  2. Check your credit score
  3. Evaluate your income and expenses
  4. Estimate your loan amount and monthly payments
  5. Consider your loan purpose 
  6. Prepare for additional costs 
  7. Anticipate future changes

Choosing the Right Home Equity Loan

Picking the perfect home equity loan involves a few key decisions:

  • Type of Loan: Decide between fixed-rate (predictable payments) and variable-rate (potential rate changes) loans based on your risk tolerance.
  • Loan Terms: Choose a repayment period that suits your budget and goals, considering shorter terms for less interest overall.
  • Interest Rates and Fees: Compare rates and fees from different lenders to ensure a fair deal and transparent costs.
  • Loan Amount: Borrow within your means and cover necessary expenses without overburdening your finances.
  • Lender Reputation: Opt for a reputable lender known for good customer service and flexibility if your circumstances change.
  • Prepayment Penalties: Avoid loans with penalties if you plan to repay early.
  • Loan Purpose and Tax Impact: Align the loan purpose with your needs and consult a tax advisor to understand potential deductions.

By considering these factors, you can select a home equity loan that aligns with your financial situation and goals.

Application Process

Once you’ve chosen the ideal home equity loan, the application process is straightforward, containing these steps:

  1. Gather Documentation: Compile necessary documents like income proof, property details, and identification.
  2. Complete the Application: Fill out the lender’s application form accurately and provide the required information.
  3. Property Valuation: Lenders evaluate your property’s value through an appraisal process.
  4. Lender Review: The lender assesses your application, credit history, and property valuation.
  5. Loan Offer: Upon approval, you’ll receive a loan offer detailing terms, rates, and costs.
  6. Acceptance: Accept the offer, set a closing date, and prepare for signing.
  7. Closing and Disbursement: Complete the closing process, sign documents, and receive the loan funds.
  8. Repayment: Start making regular payments based on the agreed terms.

Now that you’ve gained a clear understanding of home equity loans, you’re better equipped to make informed decisions about your financial future. 

At Peoples Bank & Trust, we’re here to support your financial aspirations. Our team of experts is ready to guide you through the home equity loan process, helping you secure the funds you need with favorable terms and competitive rates. Don’t hesitate to take the next step towards achieving your goals. Contact us today to explore how a home equity loan from Peoples Bank & Trust can make your dreams a reality!

AI in Banking

Artificial Intelligence’s Impact on Banking: Transforming the Customer Experience

Artificial Intelligence (AI) has emerged as a game-changer in various industries, and banking is no exception. The integration of AI technologies has revolutionized the way banks operate and interact with customers. One of the most significant transformations brought about by AI is the enhancement of the customer experience. In this blog, we will delve into how AI is reshaping the banking sector and elevating customer satisfaction to new heights.

Personalization

AI is now delivering individualized financial solutions to customers. From delving into your financial data to understanding spending habits and goals, to crafting tailored recommendations such as ideal investments or savings plans, AI’s deep insights guide you towards informed financial decisions. Effortlessly, AI keeps you in the financial loop with timely alerts, ensuring you stay on track. This new level of guidance empowers you to make choices aligned with your aspirations, making banking not just personal, but intuitive and empowering.

Virtual Assistants and Chatbots

In modern banking, virtual assistants and chatbots have revolutionized customer support. These digital helpers are available around the clock, providing instant assistance and information. They act as your personal banking guides, answering queries, offering explanations, and helping with tasks like checking your balance or transferring funds. Their user-friendly interfaces make interactions easy for everyone, ensuring you don’t need to be a tech expert to navigate them. 

Fraud Detection and Prevention

In the world of banking, your security matters, and AI is at the forefront of safeguarding your accounts. AI closely monitors your transactions, detecting any unusual activities and flagging potential threats. It ensures a rapid response by alerting the bank’s security team, and with each encounter, AI learns and becomes even better at identifying new fraud tactics. Through the analysis of extensive data, AI enables banks to implement advanced security measures that protect your personal and financial information. 

Credit Scoring and Risk Assessment

AI has revolutionized credit scoring and risk management in banking, creating a fairer and more inclusive system. It goes beyond traditional credit metrics, considering a wide array of factors to offer credit access to those with limited credit history. By incorporating diverse data sources like social media and online behavior, AI ensures that lending decisions are inclusive and reflective of individual financial behavior. Moreover, AI-driven processes help mitigate unconscious biases, promoting equitable access to financial opportunities. Through its predictive capabilities, AI enhances risk assessment accuracy, benefiting both lenders and borrowers by tailoring loan terms to individual circumstances.

Predictive Analytics for Customer Behavior

By analyzing your past actions, AI anticipates your future moves, allowing your bank to offer timely services and solutions tailored to you. Whether it’s suggesting a savings plan based on your spending habits or providing credit options aligned with your goals, AI’s insights lead to recommendations that match your unique needs. No more sifting through irrelevant offers – AI ensures that the promotions and deals you receive are perfectly suited to your interests.  

If you’re excited about experiencing the transformative power of AI in banking, look no further than Peoples Bank & Trust. Join us on this journey of innovation and convenience as we leverage cutting-edge AI technologies to provide you with a seamless, secure, and personalized banking experience. Your financial aspirations are our priority, and AI is our tool to make your banking experience truly exceptional. Discover the future of banking with Peoples Bank & Trust today!

Get the Most Out of Your Rewards

Getting the Most Out of Your Rewards: Christmas Shopping Edition

The holiday season is upon us! As we gear up for the most wonderful time of the year, it’s not just the spirit of giving that warms our hearts; it’s also the excitement of receiving rewards and making the most out of our Christmas shopping endeavors. In today’s festive guide, we delve into the art of maximizing rewards during the holiday season – a time when every purchase can bring a little extra sparkle to your holiday celebrations. 

Santa’s Secret: Plan Ahead

  • When it comes to getting the most out of your rewards while Christmas shopping, the early bird gets the best deals! Create a plan ahead of time including reviewing your rewards program, creating a shopping list, and setting a budget! 

Discover the Power of Points Perks 

  • Many credit cards offer exclusive discounts, deals, and bonus rewards during the holiday season. Check for partnerships with retailers and online stores to get the most out of your rewards. Don’t miss out on an opportunity to multiply your festive joy! 

Cashback Wonderland 

  • Many credit cards offer the option to earn cashback on your everyday expenses. During the holiday season, use your cashback rewards to replenish your budget or treat yourself! Every swipe is like getting a little extra Santa surprise! 

When In Doubt, Get a Gift Card

  • If you are struggling to find the perfect present, consider giving a gift card. Gift cards are versatile, and some rewards programs allow you to redeem points on gift cards! 

Spread Christmas Cheer with Travel Rewards 

  • If your credit card rewards include travel miles, the holiday season is the perfect time to explore magical travel options. You can turn your rewards into an unforgettable holiday experience by using your travel rewards this holiday season. 

Safeguard Your Information 

  • As you begin Christmas shopping, whether online or in-store, it’s crucial to prioritize security. Use your credit card’s security features such as contactless payments to help protect your financial information and regularly review your credit card statements for any unauthorized transactions. 

Leverage Online Rewards

  • Christmas shopping is now easier than ever with online options and your credit card can make the experience even sweeter! Some credit cards offer bonus rewards for online purchases, so be sure to review your credit card’s offerings to find out if you can earn more by Christmas shopping online! 

Earn Rewards Responsibly 

  • With the excitement of the holiday season and the multitude of reward options, don’t forget to set budgets and stick to them. You can maximize your rewards without losing sight of your financial goals by staying within your budget and not overspending. 

Make this holiday season more festive than ever by unleashing the potential of your credit card rewards! To learn more about our credit card options at Peoples Bank & Trust, head on over to our website or contact us. We hope that you have a joyful and rewarding holiday season! 

Financial Planning 2024

Get Ahead: Begin Your Financial Planning Now for 2024

As the new year approaches, there’s no better time to lay the groundwork for your financial success. Whether you’re aiming to save for a major purchase, build an emergency fund, invest wisely, or simply gain better control over your finances, careful planning and strategic decision-making are essential. In this blog, we’ll walk you through a series of insightful strategies to empower you to take charge of your financial future in 2024.

Assess Your Current Financial Situation

Assessing your current financial situation allows you to gain an understanding of where your finances stand. It helps you to get a clear picture of your income and expenses, how much you owe (debts), and what you own (assets). It is a starting point for your financial journey. By understanding these numbers, you’ll know how much money is coming in, how much is going out, and where you might have room for improvement. 

Define Financial Goals for the New Year

Defining your financial goals for the new year means laying out what you want to achieve with your money. These goals could include things like saving a certain amount of money, paying off debts, or investing in the future. When you set specific goals, you’re giving yourself a roadmap to follow. It helps you focus on where you want to go financially and gives you a sense of direction for your financial decisions. By having these goals in mind, you’re more likely to make choices that align with your priorities and move you closer to what you want to accomplish with your finances in the coming year.

Craft a Budget

Creating a budget involves making a plan for how you’ll use your money. You decide how much you’ll spend on things like bills, groceries, and entertainment. By setting limits and tracking your spending, you can make sure that you’re not spending more than you earn and that you’re directing your money towards the things that matter most to you. A budget gives you a clear picture of your financial choices and helps you make adjustments if you see you’re going off track. It’s a practical tool that puts you in control of your money, making your financial journey smoother and more organized.

Strategize Tackling Debt

Coming up with a plan to tackle your debt in the upcoming year involves creating a smart approach to paying back money you owe. It should be a step-by-step strategy to gradually lighten your financial load. You’ll prioritize which debts to focus on, whether it’s credit card balances, loans, or other obligations. By making consistent payments and considering techniques like consolidating debts or negotiating with creditors, you can make steady progress toward becoming debt-free. This strategy empowers you to take control of your financial well-being, alleviating stress and setting the stage for a more stable future.

Explore Investment Opportunities

Exploring investment opportunities for the upcoming year means investigating ways to grow your money over time. Whether you’re considering stocks, bonds, real estate, or retirement accounts, each option has its own potential for returns and risks. Diversifying your investments – spreading your money across different types – can help you manage risk while aiming for growth. By learning about various investment avenues and aligning them with your goals, you’re taking steps toward building a stronger financial foundation and potentially reaping rewards down the road.

Plan for Taxes

Preparing for taxes in the upcoming year involves getting your financial documents in order and making strategic choices to optimize your tax situation. By exploring deductions, tax credits, and tax-advantaged accounts, you can potentially reduce your tax burden. You can use various tax strategies to create a tax plan that works in your favor. Planning for taxes ahead of time helps you stay in control of your finances, ensuring that you’re not paying more than necessary and allowing you to make the most of your hard-earned money.

Taking control of your finances is within your reach and now is the time to put these insights into action, shaping your financial landscape for a brighter tomorrow. At Peoples Bank & Trust, we are here to guide you every step of the way. Connect with us to explore financial solutions that align with your goals, and let’s work together to make 2024 a year of financial achievements.

Tax Season Tips

Tax Season Tips for 2023 

With the new year comes tax season. As we jump right into tax season, here are some tips to keep you organized, ahead of the game, and prepared to submit your taxes on time.  

Step 1: Remember to Keep ALL Tax Related Documents 

One of the biggest hassles is organizing and finding your information to be prepared for tax season. Whether you do your own taxes or get help from a professional, it is important that you begin to collect and organize the proper documents. This includes last year’s tax return, this year’s W-2s and 1099s, receipts, and so on. Here are some recommendations from TurboTax of what to keep and what NOT to toss:  

  • Print out a tax checklist to help you gather all the tax documents you’ll need to complete your tax return. 
  • Keep all the information that comes in the mail in January, such as W-2s, 1099s, and mortgage interest statements. Be careful not to throw out any tax-related documents, even if they don’t look very important. 
  • Collect receipts and information that you have piled up during the year. 
  • Group similar documents together, putting them in different file folders if there are enough papers. 
  • Make sure you know the price you paid for any stocks or funds you have sold. If you don’t, call your broker before you start to prepare your tax return. 
  • Know the details on income from rental properties. Don’t assume that your tax-free municipal bonds are completely free of taxes. Having this type of information at your fingertips will save you another trip through your files. 

Step 2: Organize Your Documents  

As you begin to receive and gather your documents, find a folder to carefully organize your information. It is easy to throw an envelope into a drawer and forget where it has been placed. You’ll thank yourself as you begin filing that you kept the information needed organized and ready for use. Remember it is important to keep ahold of past year’s documents as well, as those could be needed for filing. If you haven’t already, find an organization method that works for you to begin organizing all records and carry that method on from year to year. The rule of thumb is if you don’t know if you’ll need it, it is safe to go ahead and keep it, just in case.  

Step 3: Itemize Your Tax Deductions  

By itemizing your tax deductions, you could potentially save a substantial amount compared to taking the standard deduction. If you own a home, live in a high-tax area, or are self-employed it may be worth taking extra steps to itemize your deductions.  If your qualified expenses add up to more than the 2022 standard deduction ($12,950 for singles and $25,900 for married couples filing jointly) itemizing your deductions is worth it to take the time to do.  

Some items to consider itemizing:  

  • Mortgage interest 
  • Charitable donations 
  • A portion of medical expenses 
  • Home office  

Step 4: Make a Plan for How You Will File Your Taxes 

If you are filing your taxes and expect a return, filing electronically may be the best and quickest option for you. The IRS processes electronic returns faster than manual paper returns, which means you could expect your refund three to six weeks sooner, especially if you have it set to deposit directly into your bank account.  

Step 5: File Your Return ON TIME 

Do not wait to begin gathering your documents and making your plan for filing your information. If you need assistance, it is important to do your research ahead of time and be proactive so you can file and pay on time.  

If you can’t finish your return on time, make sure you file Form 4868 by April 18, 2023. Form 4868 gives you an extension of the filing deadline until October 16, 2023. On the form, you need to make a reasonable estimate of your tax liability for 2022 and pay any balance due with your request.  Requesting an extension in a timely manner is especially important if you end up owing taxes to the IRS. 

Tax season is a stress to us all. The key is to be organized and proactive in getting ahead of filing and paying your taxes, so you are not late and potentially owe more. If you are curious about the basics of taxes or want to be aware of any changes when filing your 2022 return, visit the IRS website for assistance.  

Peoples Bank & Trust Co.    

Member FDIC    

Equal Housing Lender    

Top 5 Reasons You Need a Debit Card

Make Purchases Simple – Top 5 Reasons You Need a Debit Card 

If you don’t have a debit card, don’t worry these top five reasons will convince you to get one! A debit card is a great asset to your wallet and financial freedom. Keep reading to learn the top ways a debit card makes your purchases simple. 

1. Makes Purchases Convenient and Simple 

Ever reached into your wallet and are short on cash? Having a debit card on hand makes it incredibly easy to either withdraw funds from an ATM or simply use the card to make your purchases instantly. A debit card can truly be your only form of payment wherever you are. A debit card allows you the freedom to make everyday purchases conveniently and you can track your spending instantly from your PB&T mobile app.  

2. Budgeting Made Easy 

When you use your debit card, you are withdrawing money directly from your checking account. If you are working towards improving your budget, a debit card is a great tool to help you do so. When you make a purchase with your debit card you can be notified right away and have a mobile receipt to help keep your budget in line.  

3. Safe Form of Payment  

One of the huge benefits of utilizing a debit card are the safety factors. With a debit card you can make secure purchases and not have to worry about carrying cash. With your debit card you can be notified every time your card makes a purchase, that way if it is a fraudulent purchase, it can be reported through Peoples Bank & Trust immediately. If you lose your card, don’t worry you can cancel it immediately and have it replaced at any of our branch locations.  

4. Debit Cards Can Reward You  

Depending on the debit card you get, you can earn rewards simply by using it! To learn more about the specifics of our debit cards, head over to our website.  

5. Makes Paying Bills Effortless  

One of the huge benefits of using a debit card is the ability to set up your bills to be paid automatically. This will help you avoid a late fee or interest. This is a huge benefit to improving your credit score.  

If you are looking to get started on a debit card, we can help! At Peoples Bank & Trust we are focused on making your day-to-day financial goals effortless and with a debit card payment is made easy, safe, and convenient.  

Peoples Bank & Trust Co.    

Member FDIC    

Equal Housing Lender   

How to Budget Rising Food Prices

How to Budget Rising Food Prices  

It is no secret food prices have risen in the past few months. Food is generally at the top of the list for basic human needs, so how do we go about combating these rising food costs? Keep reading for top tips to fight rising food prices this winter.  

1. Eat Out Less 

Dining out is an extremely expensive option if you opt for it too often, especially if you are already budgeting for a full list of groceries as well.  Many meals you purchase out can be made for a fraction of the cost at home. And while fast food can be a cheaper dining out option, it may be a cost to your overall health – high-calorie and low-quality food is not as nutritional as food you can make at home.  

2. Don’t Shop on An Empty Stomach 

We’ve all been grocery shopping on an empty stomach and can agree that shopping while hungry will only fill your cart with unnecessary purchases. When grocery shopping on an empty stomach there is a likelihood of overspending and veering from your list. Stick to your necessities by grabbing a bite to eat or a small snack before you begin your shopping trip.  

3. Stick to Your List  

If shop without creating or sticking to a list, you may experience sticker shock when you check out your next grocery haul. If you fill your cart with everything that catches your eye, be prepared to spend a lot more than you planned. By creating a list in advance, you have the opportunity to plan out your meals and ingredient list to cohesively put together a plan for the week. This also allows you to plan around any sales the store may have or you may choose to shop elsewhere because there may be a better deal. Avoiding impulse buys is key to fighting these rising food costs. If you stick solely to your list, you won’t be tempted to go down every aisle. Many say all the products you need are on the edge of the store, so avoiding a couple of isles is a win! 

4. Fresh Over Prepared 

In a world that is already a fast-paced society, it is easy to opt for prepared items when shopping at the grocery store. Whether it’s convenience or to simply have on hand, these pre-ready meals are at a premium price tag compared to simply buying the fresh ingredients to make yourself. This same concept also goes for frozen items you may be grabbing. Yes, they absolutely are convenient and last longer, but they often are priced significantly higher than buying fresh ingredients to prepare yourself.  

5. Bulk May Be the Best  

Buying in bulk can save you time and money. It is important to pay attention to prices of family-sized options – if the price per unit is lower it is well worth your money to buy more if you have a place to store it and will use it before it expires. If you have items you go through consistently, it may be well worth the cost to purchase those at a big box bulk retailer such as Costco or Sam’s Club.  

6. Bulk Isn’t Always the Best 

If you find you are not utilizing a membership at a big-box retailer as often as you had thought, consider canceling. Chances are you don’t need nearly as much on hand and are paying for the  bulk items along with the membership price. It is very important to pay attention to your spending habits at these stores as well as your overall consumption. The prices at the big boxes aren’t always a bargain compared to discounts at other stores. In addition, the family-size packaging at these stores could mean you buy more than you need, driving up your grocery bill. 

7. Sign Up for Rewards 

If you are visiting the same stores consistently, it is well worth it to sign up for their rewards program. Some stores may raise their prices when they offer rewards so without the card your bill could be higher. Look into the rewards offered, they may have benefits such as a ham on the holidays or a discount on gas. Take advantage of the benefits at places you are already going to! 

8. Prices Are High, Look Low 

They strategically set up grocery stores to tempt you to spend money. As mentioned earlier, stick to the outsides of the stores. You also can avoid higher priced items by not shopping the end caps or checkout areas. The highest-priced items are placed where it is easy for you to look, such as the middle of the shelf at eye level. If you look down, chances are you’ll find generic and cheaper alternatives.  

9. Substitute the Expensive Items  

If you notice an item you use frequently has a price that is consistently climbing, look into finding a lower-priced alternative. For example, you could swap apple sauce for vegetable oil in recipes to cut the cost nearly in half.  

10. Maintain a Well-Stocked Kitchen 

Shopping infrequently or only when you need to is key to not overspending. If you shop when the best deals are available, you have the ability to stock up and put yourself in the position of only shopping when you need to or when the item is back on sale. 

Food is one of those purchases we simply cannot avoid. Be a careful and well-prepared shopper to minimize the amount you spend at the grocery store.  

Peoples Bank & Trust Co.    

Member FDIC    

Equal Housing Lender    

Advantages of Local Mortgage Lenders

Advantages of Local Mortgage Lenders 

When it comes to real estate PB&T understands it’s a localized market. If you are in the market for a new home, it is extremely important to understand the advantage of working with a local mortgage lender. In this blog, we will outline the top advantages and benefits of working with a local mortgage lender. 

#1 Local Expertise 

When it comes to a profession, most would agree your knowledge is unique to the market you serve – that is no different when it comes to real estate. A mortgage lender’s knowledge and resources are unique to the area served. Using a local lender benefits you highly in the sense of these neighborhoods are their neighborhoods. Working with a lender who is knowledgeable of your local market will keep you ahead of the game when it comes to purchasing your dream home. Every town and neighborhood is different, a local lender will know the ins, and outs, good, bad, and unfortunately the ugly. A local mortgage lender will help you navigate through all of this! 

#2 Local Network 

A huge advantage of pairing with a local mortgage lender is the cultivated relationships they’ve built within the community. Local lenders have spent years building relationships throughout the community to properly serve them. Your local lenders have vast working relationships and networks of support services, including local appraisers, title companies, and real estate agents. Some lenders can even recommend interior designers, landscapers, contractors, plumbers, pool services, you name it! You deserve a lending partner who will put just as much work into making sure you have the right home loan to make purchasing your dream home a reality.

#3 Local Approach 

Local lenders are available in the neighborhood you desire. The loan process can be difficult, but with an expert local lender, your next mortgage process will be made simple with guidance every step of the way. Purchasing a home can be an extremely overwhelming, confusing, and anxious process a local lender will be able to provide a localized approach to give you peace of mind. What is a localized approach? When using a local mortgage lender, you’re not routed through a call center, you don’t receive an auto-reply email and you don’t have to explain your situation to nine operators in the hopes that you’ll one day end up in the right hands. A local lender offers personalized service with a dedicated support team. 

#4 Local Communication

When working with a local mortgage lender, the communication and service you will receive will be unmatched. Local lenders are more likely to create an experience that matters, while cohesively making it the best process tailored to you. A local lender will know how to communicate in the area, as well as who best to partner with, if need be, to work through a portfolio of loan options. 

#5 Working with People Bank & Trust

At Peoples Bank & Trust, our local mortgage lenders are ready to serve you throughout your home loan process. We are always here to field questions, comments, and concerns, so feel free to contact us anytime. We are happy to go over your unique situation before determining the ideal loan program for you based on your goals and your desired market. Visit our website today to learn more about our mortgages and connect with a local lender. 

Peoples Bank & Trust Co.  

Member FDIC  

Equal Housing Lender  

Start Budgeting for Vacation

Start Budgeting for Vacation – What to Keep in Mind

One of the most important steps to pre-planning a successful vacation is your budget. There are many costs to manage and coordinate when booking a vacation. Keep reading for top tips on beginning your vacation budget now!

Step 1: Determine the Destination

A big factor in budgeting for vacation is getting an idea of the cost. Some may say you should set your budget in advance, which you absolutely can set a range, but your destination will be the main determinant for your budget. Depending on where you go can really change what you are willing to spend on what. Your budget can range depending on who is going, the type of trip, and your travel style. 

Step 2: Plan a Price 

Now that we have narrowed down the type of vacation you are planning and an idea of where you can begin nailing down a price point for what it will potentially cost so you can delve into the budget planning portion. As mentioned, your budget can really depend on your travel style, some people want to save money on where to stay and others are willing to splurge more in that category. Be honest with yourself and your idea of what you want out of your vacation to plan a budget range that you will not surpass. 

Step 3: Pick Your Priorities

As you nail down a budget, it is time to start picking your priorities for your trip. Everything will be included in a budget category such as food, activities, housing, travel, transportation, shopping, and really anything you intend to spend money on should have a budget within a category. Don’t forget to plan for the unplannable – it happens!

When you pick your priorities, identify your big-ticket items to ensure they are within budget and attainable. Typically, flights can be a huge expense especially if you are planning a family vacation. The more flexible you can be with your date and destination, the more you will most likely save. 

Step 4: Estimate Expenses

As we have picked our priorities, it is extremely important, to be honest with ourselves on estimating any and all expenses. Once your destination and travel plans are figured out it is important to look into a hotel on Airbnb rates and options for transportation as both of those can take a huge chunk out of your budget just so you can enjoy your time. 

It is important to think about your meals throughout the trip to weigh the cost of the hotel vs. Airbnb. If you have a large group, it may be more cost-effective to get an Airbnb and cook your own meals as you can more easily budget for groceries than meals out. 

Step 5: Start Saving Soon

By start saving soon, we mean begin saving NOW! Anything you can begin to set aside for your vacation budget will be a huge help in reaching your goal. Once you’ve worked out what you need, you can begin figuring out a map of how you need to save to be on track. To keep your motivation up, set a countdown on your phone or on your fridge so you see it daily and are reminded to save and not spend. 

Saving Tips 

  • Prioritize what you are spending money on. Clothing and items purchased leading up to the trip can add up, don’t let these offset your budget, plan for them. 
  • Try a budgeting app to stay on track.
  • Open a savings account for your trip so you can deposit it away and not touch it. 
  • Create a spreadsheet and track everything to map out your savings plan.
  • Find ways to save extra, whether that be a garage sale, side hustle, lightening some subscriptions – get creative. 
  • Change up your lifestyle. Challenge yourself to eat out less or spend less on costly activities.

You are going to thank yourself later if you began planning as soon as you could. How much you save will determine your travel plans and vacation priorities. Don’t let your vacation be financial stress, save now so you can relax and enjoy!

Peoples Bank & Trust Co.  

Member FDIC  

Equal Housing Lender