First Bank of the Lake: March 2018

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway
Suite 100
Osage Beach, MO 65065

(573) 348-2265

Friday, March 23, 2018

Why Free Kasasa Cash® Checking?

If you have been searching for the bank account you deserve, it's the Free Kasasa Cash® Checking. Our bank at the Lake of the Ozarks offers an account that basically pays you to bank here. Just think of what you can do with those rewards! First Bank of the Lake is here to give you some key information regarding this incredible checking account.

Why Free Kasasa Cash® Checking?

Reason #1
Get paid monthly!
You will get paid in high interest and refunds on ATM withdrawal fees. Earn up to 2.00% APY and get refunds on your ATM withdrawal fees, nationwide. At First Bank of the Lake, we basically pay you to bank here.

2.00%% APY* on balances up to $10,000
2.00% to 0.41% APY on balances over $10,000 depending on balance in account**
0.05% APY* if qualifications aren't met
Refunds on ATM withdrawal fees, nationwide (up to $25 monthly)

**Please Click Here For Our Kasasa Cash Disclaimer

*APY=Annual Percentage Yield

Reason #2
Get rewarded for using your debit card.
Open a free Kasasa Cash® checking account and get rewarded for doing simple banking activities.

Reason #3
Link to free Kasasa Saver to build savings automatically.
Add Kasasa Saver® to your account to make saving easy and automatic. Visit us today to open your accounts!

Reason #4
Kasasa Protect™ available at a discounted rate

Stay ahead of fraud — add comprehensive fraud protection to your checking.
Kasasa Protect™ is like invisible armor for your sensitive information. It’s around-the-clock protection for your personal and financial data against fraud and identity theft.

Reason #5
The FREE stuff

Free online banking
Free e-statements
Free debit card

Please note that enrolling in e-statements is a condition of having this account and there is a $25 minimum deposit to open, but no minimum balance to earn rewards and no monthly service fee.

Earn Your Rewards! Here's How:

To earn your rewards, just do the following transactions and activities in your Kasasa Cash® account during each Monthly Qualification Cycle.

Have at least 12 debit card purchases post and settle
Be enrolled in and log into online banking

Even if you don’t meet these qualifications, there are no penalties and you still have a free account. Plus, you’ll still earn our base rate. You can get right back to earning your full rewards the very next cycle that you qualify.

Ready to Bank With People That Basically Pay You to Bank Here?

These great rewards can make you feel like you are literally getting paid to bank here. When you choose Free Kasasa Cash® Checking with First Bank of the Lake, you are choosing to bank with your 5 Star Community Bank and we want you to feel appreciated and REWARDED. That's how it should be. To learn about the fantastic financial products we have here at our bank in Osage Beach, visit our website at www.FirstBankLake.com. If you aren't sure whether or not a certain product may be right for you, ask our friendly staff by calling us at 573-348-2265 or stop by and visit us at 4558 Osage Beach Parkway, Suite 100.

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First Bank of the Lake - Striving For Excellence

Member FDIC. Equal Housing Lender.

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway
Suite 100
Osage Beach, MO 65065

(573) 348-2265

Friday, March 16, 2018

Banking Tips for Businesses

Choosing a bank you can count on for your business is crucial. You've worked so hard to get your business up and running, you need to feel comfortable with who you trust your money to. Our bank at the Lake of the Ozarks takes business banking seriously and we don't offer a product to someone who doesn't need it. We treat our clients how we'd want to be treated if the roles were reversed. If you're starting your new business and are in the market for a bank in Osage Beach that has the experience and passion for helping the community, call First Bank of the Lake at 573-348-2265. Keep reading for a few banking tips for businesses.

Banking Tips for Businesses

Tip #1
Don't just stay with the same bank you use for your personal banking because you assume it will work for your business too.
This is not always the case, the bank you choose for your personal banking may not offer as many products such as SBA loans, specific bank accounts made for businesses, and savings accounts that have interest rates geared for businesses.

Tip #2
Check out the fees.
Do not get sidetracked by unnecessary fees because you didn't read the fine print or ask the right questions ahead of time. For example, a business credit card might come with unexpected fees because you chose to have paper statements versus online statements.

Tip #3
Ask your friends, family, and professional contacts their opinions about this bank.
Word of mouth is powerful! Take these opinions into account when choosing a bank for your business. Learn from the negative or positive experiences of others.

Tip #4
Look into SBA loans.
Does the bank you are looking into offer good SBA loans? Are there low down payments and long-term financing? Our SBA loans at the Lake of the Ozarks, for example, offer both. Our SBA loans offer low down payments to make them more affordable for businesses that are just starting up. The long-term financing can help improve cash flow.

Tip #5
Building banking relationships.
You may need something quickly, such as approval on a loan application or a business checking account set up and ready to go. Networking with the right people at the banks you are looking into and developing those relationships may help your cause.

Start Your Business Banking Relationship With Your 5-Star Community Bank

Congratulations on starting your new business! This is a big step and you have a lot ahead of you. If we can make the transition any easier for you financially, please let us at First Bank of the Lake know. Our goal is to find the right product or service to meet your financial needs. We've been happy to be a community bank at the Lake of the Ozarks for over 30 years. When you work with us, you work with a local bank and you are putting your money to work growing this economy. Grow this economy with us! We can't wait to hear from you.

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First Bank of the Lake - Striving For Excellence

Member FDIC. Equal Housing Lender.

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway
Suite 100
Osage Beach, MO 65065

(573) 348-2265

Friday, March 9, 2018

5 Questions to Ask Yourself When Looking for a Loan

If you are looking to buy a house, renovate a house, start a new business or buy a new car, the odds are you will need a loan. No matter what type of loan you are getting, you will be entering into a commitment, whether it be for months or years. You need to be ready for that sort of financial choice, so ask yourself the following questions before you make this decision. If you are interested in applying for a loan at a community bank at the Lake of the Ozarks, call First Bank of the Lake at 573-348-2265.

5 Questions to Ask Yourself When Looking for a Loan

Question # 1
What do I really need this loan for?
Identify what you really need this loan for and determine if it's worth going into a long financial commitment over. Is it to buy a car you desperately need to get to work every day or is to buy a fun car to enjoy on occasion, but will most likely sit in your garage most of the time? Think about these things before you apply for a loan.

Question # 2
What are the chances I will qualify for a loan?
If you already know that your credit score is very poor and that you don't have much of a credit history, then you may have more of a challenge qualifying for a loan. Just be prepared for that going in. That doesn't necessarily mean you won't qualify for a loan, it just may be more difficult.

Question # 3
How much money do I really need?
Know ahead of time how much money you will need for your purchase. Don't start looking up the cost while you are in the bank, you will be there longer than what you planned and it can make your experience stressful. Show the loan officer you are prepared and ready to apply for this loan.

Question # 4
How quickly will I need this money?
Not all loans give you the funds you need immediately, it can take some time and this is an important factor to consider before applying for a loan. Don't put yourself in a situation you don't want to be in.

Question # 5
What all will I need to bring when applying for a loan?
It's not always as simple as bringing in your credit history, depending on the type of loan you are applying for, you may need several documents, such as:

A form of ID
Employer contact information
Proof of your income
Proof of assets
Tax returns
Car title
A valid bank account check

The items may vary, so if you aren't sure, call ahead and ask your loan officer at the Lake of the Ozarks first before making the drive to the bank.

Visit With Our Lending Staff at First Bank of the Lake

If you are looking for a loan at the Lake of the Ozarks, whether it be for starting your new business, a new car or a new house, First Bank of the Lake is here to listen to your needs and offer you the financial product that is best suited for your needs. We don't try to sell you a loan or service you don't need and we make all of our decisions right here at home - we use judgment and compassion when evaluating customer requests. Our goal is to find the right product or service to meet your financial needs. For a bank that has been a part of this community for over 30 years and understands its needs, call First Bank of the Lake. We are your local neighbors and we enjoy having face-to-face relationships with our customers. We understand local needs because we are locals. For information on the products and services we provide, visit our website at www.FirstBankLake.com or call us at 573-348-2265.

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First Bank of the Lake - Striving For Excellence

Member FDIC. Equal Housing Lender.

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway
Suite 100
Osage Beach, MO 65065

(573) 348-2265

Friday, March 2, 2018

Valuable Lessons to Teach Your Children About Money

Have you ever thought, "Wow, I wish my parents would have trained me how to save money early on in life?" Odds are you probably have. Teaching our kids the fundamentals of money can make a huge difference in their lives. Our children are our future so it's important we educate them on how to save, count, earn and invest money. There are a few simple ways to do that and our bank at the Lake of the Ozarks is here to give you a few tips.

Valuable Lessons to Teach Your Children About Money

Lesson #1
Show them how to earn money by giving them an allowance.
Give your child an allowance and you will open up so many opportunities for teaching your children about money, which takes us to lesson # 2.

Lesson #2
Start saving as early as possible.
Just think, if you can teach your child to put just $5 of their allowance away a week, starting at age 5, they will have over $1000 by the time they are 9. Teaching your children how to save like this can only better prepare them for the future and show them how to support themselves when the time comes.

Lesson # 3
Teach them about cost, by showing them what their toys cost.
Next time you take your kid to the store and they ask for a toy, explain how much it costs in a way they understand. For example, if you give them $5 every time they take out the trash and the toy costs $25, explain that that toy costs 5 times of taking out the trash.

Lesson # 4
Budget, Budget, Budget!
If your kid has an allowance and they start wanting to buy things, you can teach them to budget their money. For example, if you are at the check out line at a grocery store and your child wants 2 lollipops, but can only afford one, teach them to budget their money, buying one now and saving up more money so that that next time, they'll have enough money for two.

Teach Your Children to Save! Help them Open Their First Savings Account at the Lake of the Ozarks.

First Bank of the Lake offers Minor Savings Accounts. They only require $50 to open this account with no minimum balance required. Teaching your kids to start saving as early as possible is essential. That way, by the time they are grown adults, they will have a good understanding of how saving money works and they will be more apt to making smart decisions with their money. To learn more about our savings accounts, visit our website at www.FirstBankLake.com or call us 573-348-2265.

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First Bank of the Lake - Striving For Excellence

Member FDIC. Equal Housing Lender.