Author Archives: PBTC Blogger

Business Services: Financing Your Future

Business Accounts

Growing your business is a 24/7 job. Between promoting products and services, and managing the books, your inventory of hats continues to grow. At Peoples Bank & Trust we’d like to help you do what you do best. With our capable financial tools we can help you focus on tackling the day-to-day tasks while we help you ensure a brighter financial future for you and your business with our structured business centered services.

Deposit Accounts: Manage your funds through a checking or savings account to help your business maintain the cash flow it needs! Transfer funds and monitor transactions with our convenient online banking portal.

Business Credit Card: Every business needs capital to help it continue to grow. While using business credit cards from Peoples Bank & Trust you’ll receive monthly expenditure updates to help you track your spending. You can easily set spending limits for individual employees.

Small Business Services: Make the most of your time and your money with our helpful small business services. We’ll help take out the strain from processing transactions, and transferring funds, to help you focus on running your business.

  • Remote Deposit Capture: Securely deposit checks into your business banking account from your office. Using a scanner and web-based software, check images are encrypted and transmitted to the bank for deposit.
  • Merchant Card Processing: Accept debit and credit card payments for your business. Through Peoples Bank & Trust, you have all the benefits of low processing rates and quality customer service.
  • Wire Transfers: Send funds quickly and easily with this convenient service.

No matter your business size, Peoples Bank & Trust is here to assist in all your business’ financial needs. With options to fit every operation, we have the optimal solutions to help your business grow! Get started today and speak with one of our experienced lenders to see how your business could benefit with Peoples Bank & Trust.

 

Peoples Bank & Trust Co.

Equal Housing Lender

Member FDIC

Community Banks: The Advantages of Banking Local

Banking Local

At Peoples Bank & Trust we pride ourselves on providing the best and most reliable service to our valued customers. Being a local community bank we offer unique insight into the inner workings of both commercial and personal financing, giving you, the consumer, the most bang for your buck. The next time you’re considering working with a locally operated bank, remember these important characteristics that truly make community banks stand apart from the rest.

Financing Farmers: Did you know that community banks make up almost 90% of all agricultural loans in the United States? By providing local producers with the capital needed to operate their business, banks like Peoples Bank & Trust are doing their part to help feed America.

Employing Citizens: With 51,000 community banks nationwide, the local banking sector employs approximately 700,000 Americans in their immediate areas, while also creating endlessly opportunities through their small business financing.

Rooted History: Knowing how to predict markets and financial tangibles is something that only time can teach. With more than 2,500 community banks stretching well over their first century, community bankers work together to share a wealth of knowledge when it comes to analyzing the past and anticipating the future.

Supporting Small Business: America was founded upon hard work and dedication. The idea that you can create anything you want is the dream. Community banks continue to help make those dreams happen by financing more than 50% of all small business loans within the United States.

Lasting Relationships: When working with a community banker you are not working with someone under the thumb of management, who takes months for approval. By banking locally with Peoples Bank & Trust you speak one on one with your lender, no red tape guarding your next financial decision.

There are volumes of reasons why banking local can help secure you a better financial future. This April we celebrate Community Bankers month to showcase the advancing capabilities of local financing institutions and the unparalleled service they offer. If you want to start banking locally with Peoples Bank & Trust, call us at (636) 528-7001 or stop by today!

 

Peoples Bank & Trust Co.

NMLS# 407724

Equal Housing Lender

Member FDIC

Make the Most of Your Spring Projects with a Cash-Out Refinancing!

Refinance

How do you decide if cash-out refinancing is for you? Do you like your home? Do you need more funds for repairs or renovations? Do you have a portion of your mortgage already paid off? If you can answer yes to all these questions, then refinancing your mortgage with a cash-out may be the best fit for you!

How does it work?

Refinancing is a strategic and beneficial financial tool. By utilizing the equity built into a home, owners are able to negotiate new rates of their loan, and potentially borrow additional funds. These funds are typically limited to the amount of the original mortgage, minus the current outstanding loan. The difference between these numbers is the amount home buyers may be able to use for renovations and other current financial needs.

What’s the benefit?

Once you receive the funds you are not tied to any one project. So whether you want to build a new deck, remodel a bathroom, or pay for another planned purchase, the options are endless. With a home equity loans however, borrowers are required to take on an additional monthly payment on top of their existing mortgage. Unlike a home equity line of credit, a cash-out mortgage refinancing offers a specific amount that is tied within your mortgage, typically offering a lower comparable interest rate. This lending option also allows the home owner to replace their existing mortgage with updated rates, so they have one affordable monthly payment instead of two!

Get started today!

In 2015 the average kitchen remodel cost between $11,261-$28,716, and the average bathroom remodel totaled $9,285. With spring time approaching, now is the perfect time to look at the benefits of refinancing your home! With other projects such as a new deck, pole building, or landscaping project, spring is the perfect time to start evaluating your home refinancing to see what your equity is capable of.

We’d love to help get you started, call us at (636) 528-7001 or check us out online today!

Peoples Bank & Trust Co.

NMLS# 407724

Equal Housing Lender

Member FDIC

How-To Save for Your New Vehicle

auto savings

Purchasing a new vehicle is always an exciting venture. Peoples Bank & Trust wants to help you maximize your buying experience with a strategic and helpful savings plan! Before you start roaming the car lots, glance at our easy auto check list to see what type of vehicle both you and your budget are searching for.

Determine if you want a new or used vehicle.

Many auto dealers today offer both new and used. While new can offer updated technology and the assurance of no prior owners, choosing a used vehicle can drastically diminish cost and offers a comparable quality with moderate mileage.

Decide on a budget and a timeline.

When choosing the right vehicle to purchase, there are many questions to help you research which option may be best on your pocket book in the long run.

-How long do you want to drive this vehicle?

-What does your budget allow you to spend for the down payment and installments?

-When do you need your vehicle by?

-What type of MPG do you need to keep gas costs within your overall budget?

-How long do you want to be paying the loan off?

With these questions in mind you can better view the credentials needed in the ideal vehicle for you and your family.

Do your part to save.

Once you have your budget set, it’s time to start saving! By putting aside a designated amount from each paycheck towards your new car, you can create a timeline for when you plan on purchasing it! In addition to these savings, cutting any additional spending can help you allocate more funds towards your new ride. Eating in more, buying generic, and carpooling to work are just a few ways to save some extra change.

Talk to us!

If you have questions regarding your savings plan stop by your nearest location today. We’re happy to help, and look forward to making your auto buying dreams a reality.

Peoples Bank & Trust Co.

Equal Housing Lender

Member FDIC

 

How-To Make Your Spring Renovations with a Home Equity Line of Credit

Home Equity

Remodels can be an exciting and trying experience. If you’re looking to make some updates to your home, a Home Equity Line of Credit is the perfect way to use the equity you have already built in your house. Here at Peoples Bank & Trust we offer both Home Equity Loans and Home Equity Lines of Credit, let us show you which may work best for you!

Home Equity Loan: Using your home as your collateral you are able to borrow funds in addition to your mortgage to complete home projects or unexpected repairs. After speaking to a Peoples Bank & Trust loan officer, a loan amount will be determined along with a loan term for repayments. The funds from this loan are presented in one check to use as needed.

Home Equity Line of Credit: Also utilizing your residence as collateral this option allows you to obtain a line of credit, with an agreed upon loan amount. Accessed through the use of a checkbook, a credit line allows you to access funds as you need them instead of receiving one lump sum at the loan closing. With a designated cap there is a limit to your available funds.

Regardless of which loan type you choose, the loan amount will be determined by the current value of your home, your individual financial history and other factors.  If your home appraises for more than you anticipated, that’s great news; but remember, it is always recommended to secure a loan only for the amount you need, ensuring you don’t overextend your budget!

If you’re interested in beginning the process for your next home renovation, start the journey with Peoples Bank & Trust and our Home Equity options!

 

Peoples Bank & Trust Co.

NMLS# 407724

Equal Housing Lender

Member FDIC

Home Buying in 5 Easy Steps

Mortgage

So you’ve decided to buy a home. Congratulations! You are about to embark on one of the most important purchases of your life. With so many options and financial decisions ahead of you, here are some key tips we want to share to help determine your ideal path to home ownership.

  1. Evaluate your Financial Readiness

There are many factors in determining your current financial capabilities when considering the purchase of a home. Add up your current monthly expenses, except for your current rent payment, and see if a mortgage payment can effectively be added without diminishing your overall monthly budget. If the answer is yes than it’s time to check your credit history! Every bank, and the individual loan types they offer, have various requirements. Take the time to research these programs and determine which suits your specific needs.

  1. Get a Mortgage Pre-Approval

Once you know your ideal lending option, it’s time to get pre-approved! By speaking with one of our experienced lenders you can determine if you qualify for various loan offerings, and at what amount and terms.

  1. Determine Your Overall Budget

Even if you qualify for more, it may be beneficial to cap your budget at a smaller amount. This will help you prepare for any unforeseen expenses, or higher than anticipated utility bills. Other factors to consider in setting your budget are savings goals, planned future expenses, additional costs to commute, and any unplanned repairs or renovations to the home.

  1. Find Your Perfect Home

Take your time while searching for your perfect home. Most home buyers stay in the same home for nine years before moving again, so you want to make sure this new house has everything your family needs. By working with a trusted local realtor you can ensure that you see all available properties within your budget, and act on new listings quickly!

  1. Close the Deal

Once you’ve made an offer on your dream home it’s time to make the purchase official! Work with your realtor to sign the purchase agreement, and close the transaction. Your mortgage lender at Peoples Bank & Trust will work to ensure the funds for your home mortgage arrive quickly and hassle-free. Once the t’s are crossed and the i’s are dotted, you are officially a home owner!

After becoming an official home owner it’s time to celebrate! You did it! At Peoples Bank & Trust we want to help guide you through your home buying adventure! Give us a call at (636) 528-7001 or apply online today to get started.

 

Peoples Bank & Trust Co.

NMLS# 407724

Equal Housing Lender

Member FDIC

Gearing Up for Planning and Planting this Spring!

agriculture

With spring right around the corner, there are so many things to check off the list before your operation gets going! At Peoples Bank & Trust we offer a variety of agriculture lending options to suit your specific needs! With our custom financing options we work alongside agriculture’s best to help secure them a successful planting season through well-planned finances. Since every operation has different needs and functions, we offer a wide variety of lending options to solve problems at every level.

Farmer Mac Loans- These loans be used for a variety of farm-related expenses, an all-encompassing option for a majority of operations, these are generally considered for day-to-day expenses.

Operating Lines of Credit- Make purchases with ease! Instead of running to the bank for every purchase, this loan enables you to have money transferred directly into your account for each specific check you write.

Equipment Loans- In need of new equipment? This is the perfect solution. Whether looking for new or used, an equipment loan offers the custom financing you need.

Livestock Loans- Propel growth this year with our Livestock Loans! Whether purchasing calves, breeders, or simply growing a herd, this loan option has you covered.

Capital Improvement Loans- Add value to your operation this season with our helpful Capital Improvement Loans. This fulfilling loan helps add to buildings and other current structures, increasing capabilities while adding value to your operation.

FSA Guaranteed Loans- Another great option for your day-to-day expenses, a FSA Guaranteed loan offers assurance and flexibility to our agricultural customers.

We applaud all of our agricultural customers for all that they do and the people they help by doing it! We at Peoples Bank & Trust want to send a sincere thank you to our farmers and operators who work day in and day out, to feed our nation. We appreciate all that you do!

If you’d like to learn more about our agriculture lending or other banking options please visit our website, or call us at (636)528-7001, we’d love to help!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

NMLS #407724

 

Building Your Dream Home in 10 Steps!

construction

It’s almost spring, which means it’s construction season! In a time where anything can bloom, learn the ins-and-outs for how to grow your dream home into reality. Discover how to navigate the home building waters with these 10 easy tips to constructing your ideal home:

  1. Budget

No matter if you’re building the city’s largest mansion, or a humble abode out in the country, you’ll need proper financing to make it happen. To secure your home lending you’ll need a plan, and a budget. Sit down with your family and decide the bare bones of what you’re looking for and what it will cost. Be sure to account for potential problems, additions, and upgrades.

  1. Find your ideal land.

With so many options, sizes, locations, and other factors, be sure the price tag on your ideal plot is factored into your budget. Working with a realtor and your financial lender can help determine what factors to consider when choosing.

  1. Get a home mortgage from Peoples Bank & Trust

Now that you know your price point, you can get a pre-approved mortgage from Peoples Bank & Trust. Make the search for your future contractor easier by having quick and easy access to your designated financing.

  1. Hire a contractor.
    Ask your realtor to provide some contractor recommendations, and be sure to research companies before investing in a signed contract. Contractors are like any other company, they want your business, so shop around and don’t be afraid to negotiate.
  2. Set Timeline and stick to it

Work with your contractor to establish a goal for both the big picture, and all the little projects to get there. Speak with your provider and if you’re handy, there may be projects that you can complete to save on labor, such as speaker wiring or painting.

  1. Adjust Financing if needed.

Building a home is a process, and along the way there may be aspects of construction that change. We’ll help work with you and your budget to adjust your financing as needed, or work to include an option for a line of credit.

  1. Complete the Home Building Process

Ta-da the day is finally here! Now that you have your keys in hand it’s time to start making your house a home. Decorating, and adding those family details will help make your new construction feel like a familiar family retreat.

  1. Reorganize Finances

After the building process is complete it’s time to take another look at that budget. Did you stick to your financial goal, spend more or less than you planned for? If you’ve spent less than planned for congratulations! You can now lower your principal amount by paying off a portion of your mortgage with the surplus of funds. If you’ve spent more than budgeted for, just be sure to look into your finances and see if you need to adjust your spending or if you have the cushion to continue with larger payments.

 

  1. Make a New Household Budget

With a new home, come new expenses. Be sure to keep your eye on the prize by tracking monthly expenses and creating a strategic spending plan including utilities, mortgage payments, insurance, and any home owner association fees.

  1. Enjoy Your New Home

After all the time and effort that goes into creating a home it’s time to enjoy it! Have a house warming get-together or just sit back and relax, but be sure to celebrate because this is surely an accomplishment!

We know home building can be a hectic process, and that’s why we’re here to help you along the way! Stop by or call us today to learn about all of our home financing options! We can’t wait to see your dream home come to life.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

NMLS#407724

The Number One Reason to Bank Locally – We are invested in YOU!

community

What makes the most impact when you step into a bank? The lighting, the decorations, the technology? At Peoples Bank & Trust it’s our people! The wonderful customers we have, and the incredible employees who make our work possible are what make us unique. After being your trusted bank for over 90 years, we are humble to be so appreciated in our local community.

Take a look inside our day-to-day operations and see how we are working to better serve you!

We Know Our Customers

We genuinely care and want to see our customers succeed! This helps not only our customers grow financially, but also enables us to become better lenders. Speaking with our customers one-on-one encourages interactive dialogue to help us better understand the specific needs of each and every individual we work with. From lending to savings, planning options, and more, we work to find the optimal financial fit for you and your family.

We Make Decisions In-House

No more untimely out-of-office decision makers. At Peoples Bank & Trust each and every loan is made in-house by one of our experienced lenders. Instead of contracting work out to other institutions we keep all of your hard earned funds close to home! Offering quick decisions can make a big impact when it comes to getting the most efficient loan for your needs. By getting approvals sooner our customers can ensure they start their desired project or purchase on time and within budget!

We Support Our Community

Many banks deem “Community Involvement,” to be writing a check and posing for a photo op. At Peoples Bank & Trust that isn’t the case. Deeply invested in our local communities, our employees are active participants in many local organization donating their time and talents. To us, community involvement is truly getting outside of our immediate operations, and working to make our thriving community a better place for everyone.

Our highest priority at Peoples Bank & Trust is YOU and your specific banking and lending needs. No matter what stage of life you’re in, if you’re looking to open a checking account, put some money away for retirement, or take the first step to home ownership, we’re ready to help you along the way! Get to know us and the incredible people that choose to be a part of our organization, and you’ll be glad you did.

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender

 

Save $5000 This Year with our 52-Week Challenge

savings

Whether it’s a house, a new vehicle, or other lending options, having a down payment is always a great first step.  In this 52-week challenge you will begin saving a little at a time to accumulate $5000 this year! Here’s how it works, every week you deposit a different amount into your savings account. As the weeks go on you begin to build a steady base little by little. At the end of the year you will have saved $5000 when done correctly. You can also add to the numbers shown below if you’d like to save more than $5000. Simply take the additional amount you would like to save, and divide it by 52. Now add that number to each of the deposit amounts for the year and you have your game plan.

Savings

$5000 is a substantial sum of money that offers endless potential, so here are some ideas to get you started!

Vacation: Take a break and enjoy an exciting new destination with your family! Cruises start at less than $700 per person, and a week in Florida typically runs $4000+ for a family of four. The possibilities are endless!

New Vehicle: You can purchase a used vehicle with the $5000 (or less), or you can use the $5000 to put a down payments on a more expensive vehicle you’ve had your eye on.

Down Payment on a Home: Now with FHA loan offerings new home buyers can afford a mortgage easier than ever! Every home is different, but with $5000 you’re off to a great start!

Wedding: A little creativity may be involved but the celebration can go on! With the largest event expenses being the venue, food, and photographer, finding inventive shortcuts can turn $5000 into the wedding of your dreams!

With so many exciting things to save for, be sure to start our 52-week saving challenge ASAP! The sooner you begin saving, the sooner you can enjoy your reward. Let Peoples Bank & Trust help you get off on the right food with our easy and affordable savings account options!

Peoples Bank & Trust Co.

Member FDIC

Equal Housing Lender