Ju n e 42010
Volume
Issue 1
Account
STATE BANK
Annual Foundation Fundraiser Held on Fairway
by Chris Schneiderman - As many If you have any further questions regarding this ­article,
of you know, the employees of please stop by or call me at 815.297.0900 or e-mail at
State Bank formed our very own [email protected].
Foundation in 2011 as a way to
continue our mission of supporting
the well-being of our community. Our
employees realize the importance
of giving back to the communities
where we live and work. Building
a Foundation through employee dedication,
perseverance and caring provides a significant
impact in strengthening our communities for future
generations. The Foundation’s mission is to support
art, health, youth and educational programs that make
a positive difference and encourage meaningful and
sustainable change within the communities we serve.
For the first time, State Bank provided 3 grants during
2012 totaling $4,500. The three recipients included On a beautiful summer day, golfers line up in
RAMP, VOICES and the Northern Illinois Food Bank.
­anticipation for the 2012 Golf Outing.
A major fundraiser for the Foundation is our ­annual
Golf Outing. Many friends and customers have
­supported this golf outing for the past 8 years. We had
a very successful event last year thanks to all of our
customers and friends who sponsored and golfed.
We cannot thank you enough for your t­remendous
support. This year’s outing will be held at the ­Freeport
Country Club on Friday, May 17th, at 2:00 PM. A
nine-hole shotgun start will be followed by dinner and
numerous prize giveaways. If you would like to golf
or be a general sponsor for $60 or sponsor a hole
for $100, please contact Amanda at 815-297-0900 or
[email protected]. Again, thank you for your
previous support and we look forward to seeing you
in May.
In this issue:
2
Golfers: $60
General Sponsor: $60
Hole Sponsor: $100
3
Avoiding
Malware
Escaping
Bank Fees
Local
Unemployment
Data
Sales Tax
Revenue Data
F O U N D A T I O N
4
FDIC Insurance
Local
Home Sales
Data
What is malware and how to avoid it?
Malware, short for malicious software, is software
designed to secretly access a computer system
without the owner’s informed consent.
•Man-in-the-middle. Users think they are
communicating with a website they trust. In
reality, a cybercriminal is collecting the data.
The Anatomy of Malware Attacks
To infect a computer through a web browser, an
attacker must accomplish two tasks.
•Keyloggers. Users are tricked into downloading
keylogger software using any of the techniques
mentioned above.
They must find a way to connect with the victim.
The attacker must install malware on the victim’s
computer. Both of these steps can occur quickly
and without the victim’s knowledge, depending on
the attacker’s tactics.
Common Types of Malware Delivery Mechanisms
•Software updates. Malware posts invitations
inside social media sites, inviting users to view
a video. The link tries to trick users into believing
they need to update their current software to view
the video. The software offered is malicious.
•Banner ads. Unsuspecting users click on a
banner ad that then attempts to install malicious
code on the user’s computer.
•Downloadable documents. Users are enticed
into opening a recognizable program, such
as Microsoft Word or Excel, that contains a
preinstalled Trojan.
As a valued State Bank Online Banking
customer, we want you to know that:
1 We will never send you an email requesting
your password, user identification number,
State Bank account number, or social security
number. State Bank does not use email to
request our customers’ personal information.
2If you receive a suspicious email or telephone
call from State Bank, please contact our
Customer Service Team at (815) 297-0900.
3If you have responded to an email and
provided information, such as your account
number, credit card number, or social security
number, please contact us at
(815) 297-0900 as soon as possible.
4If you suspect that you have received a fraudulent email from State Bank, report it immediately by emailing [email protected].
Acknowledgement: ACI Worldwide
STEPHENSON COUNTY • FREEPORT UNEMPLOYMENT
13%12.
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Dec ‘10
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Mar ‘11
Jun ‘11
Sep ‘11
Dec ‘11
Mar ‘12
Jun ‘12
Sep ‘12
Dec ‘12
21,568
21 568
5
STEPHENSON COUNTY • FREEPORT EMPLOYMENT
25,000-
22,,131
22,131
20,000-
21,501
21 501
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22,195
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21,784
21
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15,00011,229
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10,909
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Dec ‘10
Mar ‘11
Jun ‘11
Sep ‘11
Dec ‘11
Mar ‘12
Jun ‘12
Sep ‘12
10,000Acknowledgement: Illinois Department of Employment Security
10 560
5
10,560
Dec ‘12
State Bank Minimizes Customer’s Fees
State Bank has put an emphasis on
minimizing our customer’s fees as we
charge only for what our customers
actually need or will utilize.
In
the February 24, 2013 edition of the Rock
River Times, there appeared an article and chart
showing local bank’s non-interest income statistics.
A bank’s non-interest income is exactly as it sounds,
meaning all income besides that earned from loans
or investments. Historically, a majority of earnings for
banks were derived from interest income earned from
loans, but that has changed in recent years as banks
attempt to diversify their revenue base. Non-interest
income can be derived from such sources as overdraft
charges, account activity charges, minimum balance
requirements, wire transfers, on-line banking and
bill pay, and many other charges related to business
accounts. We take pride when reviewing the chart
because it shows something that we have known
for a long time. State Bank has put an emphasis on
minimizing our customer’s fees as we charge only for
what our customers actually need or will utilize. As
shown by this chart, State Bank ranks high in low fees
based on the measurement. It is worth noting that the
larger banks continue to lead the industry with their fee
structure. State Bank will continue to help minimize
your fees and if you have any friends or family members
who are prone to bank fees, please refer them to a
State Bank team member. Also, please do not hesitate
to call us about any charges you may be incurring. We
take pride in making sure our customers are placed in
the correct type of account and utilizing services that
benefit their individual needs.
Acknowledgements:
- “Rock River Valley Insider: Banking rules can cost you money”,
Paula Hendrickson, Register Star Media
-FDIC.gov
FREEPORT’S SALES TAX REVENUE
October
November
December
2010
585,767
600,808
643,873
2011
607,563
621,088
640,795
Acknowledgement: Illinois Department of Revenue
2012
588,717
613,495
636,334
Rock River Valley
Proportion of Fees
to Deposits
Deposit
­Service
Charges
Core
Deposits
Services
Charges/
Deposits
State Bank
of Davis
$115,000
$106,975,000
0.11%
State Bank,
Freeport
$203,000
$171,091,000
0.12%
Byron Bank
$224,000
$173,073,000
0.13%
Citizens State
Bank of Lena
$238,000
$181,272,000
0.13%
Community Bank
of Winslow
$154,000
$116,649,000
0.13%
Holcomb
State Bank
$238,000
$145,335,000
0.16%
Midwest
Community Bank
of Freeport
$318,000
$169,246,000
0.19%
Rockford
Bank & Trust
$391,000
$200,204,000
0.20%
Northwest Bank
$423,000
$203,303,000
0.21%
Stillman
BancCorp
$799,000
$340,575,000
0.23%
German-American State Bank
$384,000
$157,345,000
0.24%
Riverside
Community
$882,000
$294,693,000
0.30%
BMO Harris Bank
$224,278,000
$70,856,430,000
0.32%
Union
Savings Bank
$520,000
$143,111,00
0.36%
Alpine Bank
$3,465,000
$946,143,000
0.37%
Associated Bank
$68,917,000
$15,137,104,000
0.46%
PNC Bank
$988,316,000
$209,859,330,000
0.47%
US Bank
$1,193,460,000
$225,453,498,000
0.53%
JPMorgan Chase
$4,627,000,000
$861,607,000,000
0.54%
Blackhawk Bank
$2,694,000
$487,623,000
0.55%
First National
B&T of Beloit
$3,778,000
$662,760,000
0.57%
Fifth Third Bank
$509,924,000
$89,322,130,000
0.57%
Bank
Unlimited FDIC Insurance for Certain Transaction Accounts Comes to an End
As in the past, noninterest-bearing transaction
accounts will be insured up to the standard coverage
amount of at least $250,000, along with any other
deposits held in the same ownership capacity (such
as single or joint accounts). “We have been getting
questions from depositors who think noninterestbearing transaction accounts are no longer insured at
all, and that is incorrect,” emphasized Martin Becker,
Chief of the FDIC’s Deposit Insurance Section.
Funds in special trust accounts that lawyers
establish for their clients—commonly known as
“Interest on Lawyer Trust Accounts” or “IOLTAs”—
also will be protected for at least $250,000. Under
a special exemption, IOLTAs previously qualified for
the temporary unlimited coverage for noninterestbearing transaction accounts even though they
can pay interest. IOLTAs typically hold deposits for
multiple clients, and under the rules the insurance
coverage “passes through” to each owner’s share of
the account for up to $250,000. “That means the total,
fully insured amount in the IOLTA account can greatly
exceed $250,000,” Becker explained.
The standard FDIC deposit insurance coverage amount
of at least $250,000 per depositor at each insured
institution is still in effect. In 2008, Congress passed a
law increasing the basic FDIC coverage from $100,000
to $250,000, but only through 2013. Then in 2010,
the lawmakers approved a permanent increase to the
$250,000 coverage amount. However, some depositors
are still asking whether the standard deposit insurance
coverage of $250,000 will revert back to $100,000 at
the end of 2013. “The answer is no, Congress made
permanent the standard coverage amount of at least
$250,000 in 2010,” Becker stressed.
- Acknowledgement: FDIC.gov
BRAT DAY
From December 31, 2010, through December 31,
2012, certain transaction accounts that pay no interest
were entitled to unlimited deposit insurance coverage.
This special, temporary protection was created by
Congress to help maintain confidence in the financial
system for depositors who had large balances in
noninterest-bearing checking accounts, typically for
businesses but any depositor qualified. Now that the
unlimited coverage has ended, FDIC Consumer News
wants to clear up some common misconceptions
about this law, and a related one.
MEDIAN HOME SALE PRICE* - Qtr 3
$100,000-
82,900
$80,000$70,000-
STEPH CO HOME SALES - Qtr 3
100-
97
71
50-
72,000
$60,000-
June 25, 2013
150-
98,500
$90,000-
Don’t miss it!
20102011 2012
0-
85
20102011 2012
*Stephenson County single family/condominium sales. Acknowledgement: illinoisrealtor.org
BANKING HOURS:
Lobby
Mon-Thurs 8:30am - 5:00pm
Friday
8:30am - 5:00pm
Saturday
Closed
Drive-up
Mon-Thurs
Friday
Saturday
8:00am - 5:30pm
8:00am - 6:00pm
8:00am - 12:00pm
www.statebankfreeport.com