Month: January 2019

Categories
Blog Home Buying & Refinancing Personal

Choosing a Lender: What You Need to Know

Congratulations! You’ve found the home of your dreams, and now it’s time to choose a lender. Follow these steps to get the best deal on your mortgage.

Gather Essential Information

In order to choose the right mortgage for you and your family, you must know the basics. Become familiar with loan terms, interest rates, and any extra fees incurred when buying a home. 

Access Your Finances

Before you apply for a home loan, determine what you can afford. Essential elements to consider are how much debt you have, what your credit score is, and how much of a down payment you plan to make.

Organize Your Documents

You will need the following when applying for a loan:

  • Tax returns
  • Recent financial statements
  • Pay stubs
  • Additional monthly payments such as credit cards, car loans, student loans, etc.
  • Additional information that may help your banker positively evaluate your credit request – such as proof of other income

If you’ve misplaced any of the above documents, you can access much of it online.

Trust is Key

Choosing a lender is a huge decision. Talk to family and friends and get recommendations. Research potential lenders and read online reviews. Get in touch with the Better Business Bureau and inquire about specific candidates. Consider choosing a fully regulated bank which is required to operate under a high level of regulatory supervision. And be sure to read between the lines of advertising, salespeople, telemarketers, etc. If it sounds too good to be true, it is.

Compare Quotes

Find an online calculator (link: http://www.aba.com/aba/static/calculators.htm) that will help you determine which loan is the best value. Interest rates, closing fees, commissions – all of these add up.

Don’t be afraid to ask questions.

You’re making an important decision when choosing a lender. Don’t hesitate to get all the information you need, and when you are unclear on details, ask for clarification.

Categories
Blog Business Growth & Capital Managing Your Business

Is Rest the Key to Business Success?

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Working harder, longer, faster gets the best results, right? Well, maybe not. After all, there’s a reason for the old saying, “All work and no play makes Jack a dull boy.” With increasing numbers of business owners and entrepreneurs reporting exhaustion, burnout, and crippling anxiety, people are beginning to think that there must be a better way. Turns out, there is. Being busy and being productive are two entirely different things. Being busy implies that you are filling the hours of the day with work. Being productive means that the work you’re doing has an impact. And to be productive, you must be well-rested.

Sleep

A recent study compared the effects of sleep deprivation to those of drunk driving. Yikes.  A good night’s sleep, or even a quick power nap, could be key to thinking clearly and efficiently at work.

Exercise

But rest isn’t all about sleeping. Restorative activities like hiking, walking, biking, and yoga are all incredible forms of rest. And if you can go outside to exercise, then that’s even better. Business owners spend far too much time indoors staring at their computer screens. Wide open skies, fresh air, and nature can do wonders for recharging your brain and body. Just be sure to bring along your phone or a small pad of paper and a pen – you’ll be amazed at how some of your best ideas will emerge when you’re moving your body and giving your brain a rest.

Make Time for Reflection

Built into every workday should be time to sit quietly and reflect, read, strategize, etc. Close your laptop, turn off your phone’s ringer, put a ‘Do Not Disturb’ sign on your office door, and give your mind the time and space to reflect. Does this sound like a waste of precious time? Bill Gates, Mark Zuckerberg, and Tim Ferriss sometimes take a full week of their time to reflect quietly.

Embrace the Break

Does all this sound impossible? Would you like to try doing less and resting more, but you can’t conceive of how to begin? Start small. Take small breaks throughout your day and set alarms on your phone so that you’re sure to stop what you’re doing to take a break. Can’t go for a long walk outside? Take a stroll around your office. Have coffee with a friend or colleague and don’t talk about work. Do an online search for ‘desk yoga’ or ‘stretches you can do in the office’ and incorporate these movements into your day. As you get comfortable with smaller breaks and see the positive change happening in your body and mind, you will naturally begin to look for other ways to include more rest in your day.

Not convinced? We highly recommend the book “Rest: Why You Get More Done When You Work Less” by Alex Soojung-Kim Pang. The book is well researched and written, and it gives examples of how some of the greatest minds and most accomplished people of our time and in history embraced resting.

Categories
Blog Business Fraud & Security

Protect Your Small Business Account

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Corporate Account Takeover – Business Identity Theft – Commercial Account Fraud – these are all different terms that add up to the same thing: cyberthieves gaining control of a business’ finances by stealing employee passwords and other valid credentials and then using the information to steal customer information, transfer funds from the company, make unauthorized transactions, etc. Scary.

So how do you protect your business, and in turn your customer’s information, from fraud?

Make sure your online activities are secure:

Never use unprotected internet connections. If your server warns you that a website is compromised in any way, leave it immediately. An easy way to tell if a website is secure is to look at the web address. There should be an ‘s’ in ‘https’ – if there isn’t an ‘s,’ the website is not secure. Keep updated antivirus software on your computer and always encrypt sensitive information.

Use complex passwords:

Passwords should be complex with a mix of small and capitalized letters, numbers, and symbols. By using common passwords like your birthday, your children’s or pet’s names, or even ‘password’ and ‘123password’, you are setting out the welcome mat for your account to be hacked.

Partner with Pinnacle Bank:

We can help you safeguard your account. If you’re unsure that your bank account is safe from cyber thieves, talk to us! We’re happy to guide and help you in any way we can.

Find out what you don’t know:

Your account agreement details what you are responsible for concerning security measures that you must take. If you don’t implement these security safeguards, you could be liable for losses incurred during a takeover. Don’t know what you don’t know? Pick up the phone or make an appointment to speak with one of our staff. 

Employee Education:

Chances are, one of your employees will be the first to suspect that your account has been compromised, but they must know the warning signs before they can spot potential fraud. Be sure your employees have the tools they need, as well as safe practices and how to respond if they suspect account fraud.

Be Aware of Suspicious Activity and React Immediately:

Beware of strange emails, phone calls, pop-ups, etc. Never give your password information, social security number, and other valuable information to someone via email or phone. If you suspect that your computer or accounts have been violated, cease all online activity and contact Pinnacle Bank for further instruction. And be sure to keep thorough records of what happened.

Categories
General News

Available Now for Treasury Management Customers!

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If you are a Treasury Management customer, a new statement is coming soon in addition to the monthly account statement. It is set-up to show your products, services, fees and balances in a clearly understandable presentation. If you have any questions, please feel free to call your Electronic Banking Support Team at 877-759-7939.

If your business is not a Treasury Management customer but you are interested in learning about products to assist you in running your business more efficiently, learn more here or contact a member of our Treasury Management Team listed on that page.