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Improving Your Credit Score

Posted by First National BankPosted on Banking 101

Your credit score has a huge bearing on many aspects of your life. Your credit score helps financial institutions and lenders determine your creditworthiness. According to Fico.com, the FICO score was first introduced in 1981 by the Fair Isaac Company (now called FICO.) “Lenders use credit scores to evaluate the probability that an individual will repay their debts. A person’s … Read More

Updates to the SECURE Act You Should Know About

Posted by First National BankPosted on Trust & Investments

The 1.4 trillion dollar SECURE Act was signed into law effective January 1st of 2020. The SECURE Act, which stands for, “Setting Every Community Up for Retirement Enhancement,” was designed to make retirement an attainable goal for all Americans. This legislation will be the largest change to retirement plans in this country for over a decade. Whether you have a … Read More

Things To Consider When Applying For A Mortgage Loan

Posted by First National BankPosted on Home Ownership, Loans, Mortgages

Getting approved for a mortgage loan is one of the most important parts of the home buying process. Here are some things to keep in mind to help you get approved for a mortgage loan. Calculate your income  It’s a good idea to hold onto pay stubs when your looking for a home, as your mortgage lender will likely ask … Read More

I Started A Business…Now What?

Posted by First National BankPosted on Entrepreneurs & Start Ups, Operations & Processes

Congratulations! Starting your own business is no small feat! Business ownership is an exciting and rewarding endeavor with many twists and turns. Now that you have officially started your business, you may be wondering, “What do I do now?” Continue reading to learn where to continue on from here. Creating a Visual Identity Visual identity is defined as, “Visible elements … Read More

6 Different Types of Trust Accounts

Posted by First National BankPosted on Trust & Investments

Let’s talk about estate planning for a minute and how important and helpful a trust can be. Most individuals do not like to talk about what might happen when they pass away, but if you plan ahead it can create an easier process for your children or spouse. Having a will or trust in place can prevent your assets from … Read More

5 Things To Think About When Buying A New Home

Posted by First National BankPosted on Home Ownership

When buying a new home things can easily get overlooked; here are some important things to keep in mind before you decide to buy: Ask plenty of questions before buying Why is the previous owner moving? Are there a lot of repairs to be made? (Remember to get a thorough inspection done before buying) How long did the previous owner live … Read More

Personal Credit vs. Business Credit

Posted by First National BankPosted on Banking 101, Money & Metrics

Credit is something we are all familiar with. We use it to pay bills, put gas in our cars and so much more. Every person has their own credit history that follows them throughout their lives. The same could be said for businesses. Even though they aren’t people, businesses generate their own credit history and scores. Personal Credit According to … Read More

Teaching Your Kids About Personal Finance

Posted by First National BankPosted on Banking 101

Children whose parents don’t teach them about handling money, may grow up to be adults who don’t know how to handle their finances.  Start when they’re young, but keep it simple. Take your child to the grocery store and plan to pay with cash. Tell them that you have a certain amount of money to buy food today, and when … Read More

Women in Farming

Posted by First National BankPosted on Agriculture

aerial view of farmland

When you think about farming you might think this is a male-dominated industry, which it is, but the ratio is changing. According to the USDA Census of Agriculture, in 2012 about 75 percent of farm operators in Iowa were male and 25 percent female, and in 2017 male ownership dropped to 66 percent while women rose to hold 34 percent … Read More

Key Components That Make Up A Strong Business

Posted by First National BankPosted on Entrepreneurs & Start Ups, Operations & Processes

There are many moving parts to the machine that is a small business. You may have successfully started your business, but keeping it going and growing is a challenge in itself. According to Fundera.com “20% of small businesses fail in their first year, 30% of small business fail in their second year, and 50% of small businesses fail after five … Read More

How To Start A Small Business

Posted by First National BankPosted on Entrepreneurs & Start Ups

According to the U.S. Small Business Administration, at the end of 2018, there were 30.2 million small businesses operating in the United States. These small businesses make up 99.9% of all businesses in the U.S. as a whole. With such a massive amount of small businesses vying for the affection of the American consumer, how do you set yourself and … Read More

Homeowners Insurance: The Importance & Benefits Of Having It

Posted by First National BankPosted on Home Ownership, Mortgages

There’s no denying homeowners insurance is important, but most homeowners don’t completely understand all the benefits that they are getting from their insurance. Below are five benefits of having homeowners insurance. It’s required by your mortgage lender The minimum amount of homeowners insurance that you need depends on the size of your mortgage. If you fail to get the proper … Read More