Banking Is Personal - Blog

Welcome to Banking is Personal. This blog is a place where Salin Bank hopes to give you information you can use. Our goal is to arm you with resources and knowledge about mortgages, wealth management, business lending and other banking-related issues that affect you and your financial objectives.

Email Scam Targeting Businesses Is Billion-Dollar Problem, FBI Warns

By Denise Maines, Security Officer, Salin Bank on November 30, 2015

There’s a sophisticated wire payment scam taking place, one that the Federal Bureau of Investigations (FBI) says has the potential to quickly become a global threat to American businesses.
More than 7,000 U.S. companies have become victims to a scam known as the “Business Email Compromise (BEC),” with total dollar losses exceeding $740 million. And that figure doesn’t even include victims outside the U.S. and unreported losses, according to the FBI.

Here’s how BEC works: Scammers use fraudulent emails to trick companies into directing financial transactions into accounts that the scammers control. In one BEC scam, the FBI says an employee received a legitimate-looking e-mail supposedly from the company’s chief executive officer requesting the employee to transfer funds on a time-sensitive acquisition by the end of the business day. The employee ultimately wired the requested money to a foreign bank. 
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Buying a Home During Autumn: The Deals Are Waiting

By Kevin Schultz, Mortgage Consultant, Salin Bank on November 23, 2015

The real estate market isn’t like most businesses - it’s open every day, 365 days a year. It’s true that some months of the year are better than others for buying and selling, as seasonal shifts in real estate are well documented. Spring is hands-down one of the busiest times of the year, but fall has quickly become a close second.
The changing of the leaves can indeed shed some good deals and extra perks for prospective homebuyers:
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Trusts: Why Set One Up?

By John Coughlin, Vice President, Wealth Management Business Development Officer, Salin Bank on November 16, 2015

You don’t have to be Warren Buffet to need a trust. A trust is an excellent way for many people to protect the assets they’ve worked so hard to build and to ensure those assets pass on to the people or organizations of their choosing. The challenge is determining what kind of trust to establish.
In simple terms, a trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries. There are many different types of trusts, each with its own benefits and sometimes potential pitfalls. Below are some of the more common trust options:
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How to Get the Perfect Commercial Loan for Your Business

By John Belden, SVP, Central Indiana Market President, Salin Bank on November 9, 2015

A commercial loan can be the life blood of a business, providing the means to take you to the next level of success. Securing a business loan can be challenging, however, whether you’re an entrepreneur or an established business.
So what do lenders look for when deciding to fund a business? There are a myriad of factors that make up the “ideal loan application,” but the following tips may help you get off to a winning start.
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Lessons Learned From the Lamar Odom Case

By Bill Varanka, Vice President, Wealth Management Business Development Officer, Salin Bank on November 2, 2015

The recent medical crisis involving former NBA basketball star Lamar Odom offers a valuable lesson on the importance of estate planning - and what can happen if you fail to update key legal documents.
As most of the world knows by now, Odom was in a coma for four days after being found unconscious in a Las Vegas, Nevada, brothel on Oct. 16.  Details would later emerge that Odom’s estranged wife, reality TV star Khloe Kardashian, had become the person in charge of making decisions about his health care because he could not do so himself.  
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