Wednesday, January 13, 2021

Here Are The Latest PPP Updates!

We're sure you have heard plenty about the Paycheck Protection Program by now, but have you heard the latest news? As a business owner, it's important that you stay as informed as possible. This affects your business and your employees. With that in mind, our bank at the Lake of the Ozarks is here to give you the latest updated information regarding the Paycheck Protection Program or PPP in this week's blog. In the first round of PPP, First Bank of the Lake helped more than 4,000 small businesses gain access to over $500 million of financial relief. 


Here’s what you need to be eligible for a PPP loan in the new round:

• Demonstrate at least a 25% reduction in gross receipts (to be defined by SBA) in any quarter of 2020 relative to the same quarter in 2019.
• Employ fewer than a 300 employees per physical location.
• Demonstrate that you have used or will use the full amount of your first PPP loan.
• A business that was not in operation on February 15, 2020 shall not be eligible for an initial PPP loan and a second draw PPP loan.

What else has changed?

• Borrowers in industries assigned to NAICS Code 72 are entitled to receive loans up to 3.5x their average monthly payroll costs, during the year prior to the loan or the previous calendar.

PPP Forgiveness: Here's what you need to know.

• Borrowers with loans less than $150,000 now have a simplified, one-page application. The SBA has until January 20, 2021 to provide guidelines for this application.
• Forgiveness is now tax-exempt for all borrowers.
• The covered period for expenses has been extended from 8 weeks to 24 weeks.
• Expenses allowable and forgivable are expanded to include certain payments for software, cloud computing expenses, property damage, supplier costs, and worker protection.

We know that small business owners have been eager for another round of Paycheck Protection Program (PPP) and that these funds are vital to your business. While we are unable to predict how quickly the funds may be exhausted, we do expect demand to be high. So, don’t wait. Start your application today!


Do You Have Any Questions About PPP?


We get it. This is A LOT of information to absorb. For more information on PPP2, visit our FAQ page at: https://loans.firstbanklake.com/ppp2/ and learn how to simplify your payroll calculations with a CARES Act Payroll Report by visiting: https://loans.firstbanklake.com/ppp-loan-payroll-calculations/

We've been working diligently to ensure getting a second PPP loan isn't something you have to stress about. Our experienced professionals have decades of experience in the loan industry and we’re committed to helping guide your business through the process of securing the funding you need. Our PPP support team can be reached at 866.806.1644 or by email at pppsupport@firstbanklake.com.

First Bank of the Lake - We Put You First. Four simple words, but they are at the core of everything we do at First Bank of the Lake. They are the difference that sets us apart. Be sure to follow us on our social media channels listed below to stay up to date on our latest announcements.




First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

Tuesday, January 5, 2021

Take Your Savings To The Next Level in 2021!

Happy New Year everyone! Bye Bye 2020, Hello 2021! What are your plans for this brand new year? Perhaps you made a New Year's resolution for this year to finally meet your savings goal? If that's the case, you're in luck. Our bank at the Lake of the Ozarks is here to give you all the important information regarding our Free Kasasa® Saver in this week's blog. Start taking your savings to the next level and choose First Bank of the Lake, where we put YOU first. Four simple words, but they are at the core of everything we do. They are the difference that sets us apart.


Take Your Savings To The Next Level in 2021!

FREE Kasasa® Saver

A FREE account that builds your savings effortlessly – earn up to 0.75% APY!*

  • FREE Savings
  • Competitive Interest Rate
  • 0.75% APY* on balances up to $24,999.99!
  • 0.75% to 0.35% APY* on balances over $25,000 (depending on balance in account)
  • 0.05% APY* on the balance if qualifications aren’t met on Kasasa® Cash Checking or Kasasa® Cash Back Checking Account
  • Links to your Kasasa® Cash or Kasasa® Cash Back Checking Account
  • Automatic transfers of Kasasa® Cash or Kasasa® Cash Back Rewards
  • $25 Minimum Opening Deposit
  • No Minimum Balance to earn rewards
  • Up to 6 preauthorized transfers allowed per statement cycle
  • $1 charge for each transfer or withdrawal over 6
  • FREE Online Banking
  • FREE eStatements

Rates effective as of 01/05/2021

*Annual Percentage Yield (APY) is accurate as of today's date and may change without notice at any time after the account is opened. Fees may reduce earnings on these accounts.

Save more so you can do more.

An account like this can help you develop good savings habits while earning interest on your money. Let’s save up. Starting today.


Ready To Start Simplifying Your Savings Today?

Perfect! We are ready to help you with all your savings needs. Here at First Bank of the Lake, we don't believe in trying to sell you on a product you don't actually need. We're in the business of providing solutions for financial problems. If you've been searching for a savings account at the Lake of the Ozarks that actually meets YOUR needs and would like to hear more about the Free Kasasa Saver®, please feel free to give us a call today. We can be reached at the phone number listed below. To stay up to date on our latest important announcements or financial solutions we may be featuring, please follow us on our social media channels listed below. We are constantly posting and tweeting each week, so that is one of the BEST ways to stay "in the know."




First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

Tuesday, December 29, 2020

The History of First Bank of the Lake

Over 35 years ago, a dedicated group of individuals came together with one shared goal: to create a local community bank that truly cares about the people it serves and provide ways for them to thrive. First Bank of the Lake is so grateful, to get to know so many loyal customers over the years. Though the technology of banking has changed, we remain committed to our most valuable assets – our customers and employees. Keep reading this week’s blog to learn the history of First Bank of the Lake



Our Story

First Bank of the Lake’s story began in October 1985, when a group of local investors along with a group of St. Louis investors with interest in the lake area founded First Bank Centre in Osage Beach, Missouri. These well-respected and savvy investors recognized the need for a bank whose focus was on the local community. In May 1987, First Bank Centre proudly opened its doors to serve the Lake of the Ozarks Community. The bank’s name was changed to First Bank of the Lake in January 1998, to highlight our banking roots, while closely defining our identity with the Lake area community we proudly serve.

In order to further enhance our growth strategy, First Bank of the Lake was purchased by new investors in December 2010. The bank is affiliated through common ownership with nationally recognized Advantage Capital Partners. Recognizing the need for a strong leader to take the bank into the future, Mike Anderson was hired as President & CEO in December 2014. Mike brought over 40 years of banking experience, serving in executive positions in Missouri and Oklahoma banks and holding companies. The goal of the new investors and Mr. Anderson was to develop a strong community bank serving the Lake of the Ozarks and to build a national government guaranteed lending program. This national expansion was greatly enhanced in August 2019 when Annemarie Murphy joined the bank as Executive Vice President and President of the SBA Lending Division. Since then, additional staff were hired with significant government guaranteed lending experience and they are located throughout the United States. It’s an exciting time of growth for the program as we continue to hire top talent, applying their knowledge to structure financing solutions that transform businesses across the country.

We have created a culture where good people are valued, customers’ needs are surpassed, and new ideas are embraced. Each day we build on the day before, measuring our performance by the high standards set by our founders. Caring for our employees and customers as well as the communities in which we serve is the basis for our success and the roadmap for our future performance. We continue to grow because we have talented people in place who are committed to doing their very best every day.

Moving forward, nothing defines us more completely than these four simple words that are at the core of everything we do and the difference that sets us apart – We put you First!



All of us here at First Bank of the Lake hope you enjoyed learning more about our story as much as we enjoy getting to know you. If you are looking to bank with a community bank in Osage Beach, give us a call today. We can be reached at the phone number listed below. You can also stay up to date on our latest announcements by following us on our social media channels listed below. Be sure to check out our NEW website, HERE.




First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

Wednesday, December 23, 2020

Financial New Year’s Resolutions for 2021

2020 has been such a difficult year for so many reasons. Who's ready for a BETTER year? Our bank at the Lake of the Ozarks is here to give you a few sample New Year's resolutions you can make for yourself for 2021, in this week's blog. If you'd like some help from a community bank in Osage Beach that can recommend the right financial products to help you achieve some of these goals, please call First Bank of the Lake today. We can be reached at (573) 348-2265. Be sure to check out our NEW website for more information too at www.FBLake.bank.


Financial New Year’s Resolutions for 2021


Start your New Year off right by setting some goals for yourself that you can realistically strive to achieve. For example, your goals may sound something like this:

I'M MAKING A GOAL TO:

TAKE MY FAMILY ON A DREAM VACATION IN THE SUMMER OF 2021.

Travel may be complicated right now, with everything going regarding COVID-19, but that may not be the case come summer 2021. Who knows? In the meantime, why not hope for the best? Start saving as soon as possible. Try using a FREE account that builds your savings effortlessly, like the Free Kasasa Saver®.

END MY STUDENT LOAN DEBT.

Aren't you tired of having to make payments every month to your student loan debt collectors? So many people are in debt due to student loans. Having that debt can really weigh you down and affect your credit negatively if you don't have a steady plan for paying it off. If you are struggling to at least pay the minimum payment each month, take a hard look at what you spend money on. Try Online Bill Pay. Having your payments automatically pulled from your account can keep you from forgetting to make a payment and help you avoid any late fees, which can also help you pay off your loans faster.

SAVE FOR A DOWN PAYMENT TO BUY MY FIRST HOME.

So many people have taken advantage of the incredibly low mortgage rates in 2020 and have bought homes at the Lake of the Ozarks. However, low rates don't necessarily mean it was the right time for you to buy in 2020. Perhaps, your financial situation prevented you from buying a home this year, but you still have a dream of being a homeowner. Make that dream a reality in 2021. Learn more about our mortgage loans, HERE. 1st Home. 2nd Home. Your Dream Starts Here! 


Happy New Year From First Bank of the Lake!

Everyone here at First Bank of the Lake would like to wish you a very Happy New Year. 2020 has been tough and we hope that 2021 is so much better for everyone! Remember, if you would like to hear about some helpful financial products that can help you achieve specific goals you may be setting for yourself in the new year, such as paying off debt or saving for something special, please give us a call. We can be reached at the phone number listed below. You can also stay up to date on our latest announcements by following us on our social media channels listed below.




First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

Friday, December 18, 2020

Check Out First Bank of the Lake's NEW Website!

Our bank at the Lake of the Ozarks is excited to announce that we have a NEW website. Keep reading this week's blog to learn all about it. This website will be more responsive and user-friendly and we are happy to unveil it to you. If you end up having any questions, please do not hesitate to give us a call at 573-348-2265. 



Check Out First Bank of the Lake's NEW Website!


First Bank of the Lake is excited to announce the launch of our all-new website! Here are some of the key features we've added that put you first.


MORE RESPONSIVE

No more pinching and zooming. Whether you're at home or on the go, the new site adapts to all your devices. 


MORE CONVENIENT

Get where you need to go faster with improved navigation, new Quick Access Icons and Resources. 


MORE SECURE

Only certified financial institutions can be a .Bank.

This domain type adds a layer of security to better protect our customers from cyber risks like phishing and offers peace of mind with secure online transactions and communications.

Come take a tour today!


Don't Forget! IMPORTANT INFORMATION – LOBBY

With Covid-19 cases on the rise, since Wednesday, December 2, we have temporarily closed our lobby and offer drive-thru and lobby access by appointment only until further notice. 

Drive-thru services will operate business as usual and we will continue to provide all services. Protecting the health and welfare of our clients, employees and the community is our highest priority. If you need lobby access or require in-person service, please call us at 573.348.2265. 



Do You Have Any Questions?

All of us here at First Bank of the Lake hope that you enjoyed learning about our new website. We know this is quite a bit of information. If you have any questions about any of this, please do not hesitate to give us a call. We are here to answer any questions you may have. You can stay up to date on our latest announcements by following us on our social media channels listed below. We are constantly posting on a weekly basis about new products that we are featuring and our latest updates regarding First Bank of the Lake. Happy Holidays!





First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

Friday, December 11, 2020

Our Lobby Is Closed, But We Are Still Offering FREE Online Services and Our Drive-Thru Is Still Open!

2020 has been quite the year! There have been a lot of challenges all across the world as a result of COVID-19. Our bank at the Lake of the Ozarks wants you to know that we WILL get through this together. That being said, our bank in Osage Beach would like to talk to you about our recent lobby closing announcement, free online services that are being offered, and our drive-thru, in this week's blog. If you end up having any questions, please do not hesitate to give us a call at (573) 348-2265.




IMPORTANT INFORMATION - LOBBY ACCESS


With Covid-19 cases on the rise, we have temporarily closed our lobby effective Wednesday, December 2, 2020. We are offering drive-thru services. Lobby access will be by appointment only until further notice.

Drive-thru services will operate business as usual and we will continue to provide all services. Protecting the health and welfare of our clients, employees and the community is our highest priority.
If you need lobby access or require in-person service, please call us at 573.348.2265.

WE ARE HERE TO HELP

Our online channels, ATM, and drive-thru remain open and ready to serve you. Given the benefits of social distancing, we ask you to receive services from our drive-thru lanes and ATM, as well as using all the free online banking products we offer with your checking account. We are open for business and stand ready to serve you.

FREE ONLINE SERVICES

Online Banking - Access your accounts 24/7. Reminder: To use the Mobile Banking App, you must be enrolled in Online Banking.

Mobile Banking - If you don’t already have the FBOL Mobile App, download it in the Apple Store or Google Play.

Mobile Deposit - Easily deposit checks with your mobile phone. While in the Mobile Banking app, just snap a picture of your check and follow the prompts.

Bill Pay – Pay your bills, set up automatic payments, or transfer funds.

At First Bank of the Lake, we intend to do everything we can to keep our communities healthy and safe while still supporting your everyday banking needs. We are committed to providing our customers and communities with high-quality products, great customer service, and a friendly smile. We’re here to make sure your health and safety are protected as you conduct your banking.

Please contact us during normal business hours at 573.348.2265 to make an appointment or to find out how we can best assist you. Thank you for your understanding and patience during this challenging time.



This has been one BUSY year for sure. We would also like to announce:


First Bank of the Lake will soon be launching an all new website that puts you first! 

Here are some of the key features:

MORE RESPONSIVE - No more pinching and zooming. Whether you're at home or on the go, the new site adapts to all your devices. 

MORE CONVENIENT - Get where you need to go faster with improved navigation, new Quick Access Icons and Resources. 

MORE SECURE - Only certified financial institutions can be a .Bank. This domain type adds a layer of security to better provide you with the most secure banking experience for anyone accessing both personal data and general information on our website. 

Look for our new website, FBLake.Bank, launching soon!

We will keep you updated throughout this process and let you know when the site is LIVE. Be sure to follow us on our social media channels listed below to stay up to date on our latest announcements.




First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

Friday, December 4, 2020

Why eStatements Are The BEST!

We hope everyone had a VERY Happy Thanksgiving! This has been a tough year for all so we hope that you and your loved ones got some time to enjoy the holiday! Time is precious and you shouldn't waste it waiting on your paper bank statement to come in the mail. Our bank at the Lake of the Ozarks has the PERFECT alternative to that - eStatements! Keep reading this week's blog to learn all about the benefits you can enjoy when you choose eStatements. If you end up having any questions, please do not hesitate to give us a call and speak with one of our friendly staff members. First Bank of the Lake can be reached at 573-348-2265.



eStatements: Less paper. Faster access. More secure.


Paper statements are an easy target for identity theft. They can be stolen from your mailbox or picked right out of your trash. eStatements are more secure! You can easily view up to 6 months of banking statements for all your accounts online.  They're easy to store and more efficient. Once you’re enrolled, we’ll send you an email when each statement is ready.  You’ll love how convenient they are. Enroll today!


GREEN

eStatements are good for the environment. Save paper each month, which means fewer trees need to be harvested and less energy needs to be used to make the paper. Choosing eStatements is an easy step that’s really is earth-friendly!

 

FAST

Enjoy instant delivery of your monthly statements. You get your statement when it's ready, not when the mailman delivers it. You'll receive an email notification to let you know when a new statement is ready.


SIMPLE

Stay organized by making the switch to online statements. With electronic statements, your account information is easily accessible and readily available when needed. We store copies of your statements, so you don't have to. Now that's efficient record keeping.


SECURE

Keep your financial documents private and increase account security. Identity theft experts actually recommend electronic statements. Why? eStatements keep your sensitive information out of the mailbox or the trash, where identity thieves can easily grab your account information. Your electronic statements are password protected and encrypted on our secure online banking system. 



FREE

It costs you nothing to switch to eStatements — and to have access to every transaction in your account, including check images, right at your fingertips.


Enroll today and discover all the advantages of eStatements. Simply log into Online Banking, and enroll for eStatements under the Profile tab.


Enroll for eStatements today! Just Log In to Online Banking.

Log in HERE.


Not Enrolled in Online Banking?

Enroll Today, HERE.



All of us here at First Bank of the Lake hope you found this information truly enlightening. Our community bank in Osage Beach doesn't try to sell you a financial product you don't need. If you'd like to learn more about our convenient eStatements, please give us a call at the phone number listed below or visit our website at www.FirstBankLake.com, scroll to the right, select the More tab and click on Education. From there you will see our video on eStatements. Enjoy!





First Bank of the Lake - Striving For Excellence
Member FDIC. 


Connect With Us On LinkedIn

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265