Small Business & Jobs

Often overlooked when discussing economic conditions is the impact small business has on the number of jobs being created.  Small firms with less than 500 employees accounted for 63% of the net new private-sector jobs created between 1993 and mid-2013.  What's more, small businesses make up 99.7% of U.S. employer firms and 48.5% of private-sector employment.  Clearly small businesses are important to our economy and the community banks that largely serve them.

Your Branch is your Phone

The use of mobile devices is increasing at a pace that is impacting business sales like nothing before!  This includes banking.  Eventually, it's inevitable that more consumers will turn to mobile and new merchants will come up to speed.  20 years from now I envision banks looking entirely different than we know them today.

50 years

It is not often someone spends 50 years in a profession and is starting on their second 50!  But that's me.  Doubt if I will complete the next 50, but who is counting?  I could talk for hours about how banking used to be and how it is today.  But with all the changes interest rates today are actually lower than when I started in banking in 1964. 

Elite We Are!

Bo Ryan never ceases to amaze me.  I knew after watching Baylor play last Sunday, and listening to everyone comment about how tough Baylor would be for Wisconsin, that Bo would see it as a challenge.  And he met the challenge!  Someone who has been around as long as he has needs that special challenge once in a while to keep the fun in what they're doing!

Madness!

Well, my possibility of winning the billion dollars by getting all 64 games in NCAA tourney correct ended yesterday!  The wins of No. Dakota State; Dayton and Harvard took my money away!

Savings VS Debt

A recent bankrate.com report shows that nearly 50% of Americans have more credit card debt than emergency savings.  What's more, Americans' comfort levels with their savings have fallen to their lowest point in a year.

Ethics

As we see the corruption that exists in big government, it is refreshing to be led in this state by one who, in my opinion, exemplifies courage and ethics like not often seen.

Happy States

I saw a results of a recent study on what states in the U.S.A. have the happiest people and which the unhappiest.  Surprisingly, the top 5 happiest states are all in the north;   No. Dakota, So. Dakota, Nebraska lead the list for the happiest.  West Virginia is the most unhappy state, followed by Mississippi and Alabama.  Wisconsin was not in the top 10.

Business Cheerleader

We like to think of ourselves as a cheerleader for small business.  Beyond providing loans and business banking products, we also have an important role to play as a sounding board and trusted advisor.  We think being an effective cheerleader is not waving pompoms, shouting morale-boosting chants into megaphones, or flying 15 feet in the air.  Instead we try to focus on being a good friend to small business owners.  We try to tailor our offerings to our clients and perform a supporting role with gusto and a high level of enthusiasm.  Rah, rah, rah......

American TV

The small business community has been rocked by the news of American TV's closing.  Here is a Madison-based business that has been around for 30 years closing shop.  Just down the road a 50 plus year business, Johannsen's closed not that long ago.  While all the talk is about the future plight of small business, I can tell you that small business is alive and well.  There are thousands of small business in Wisconsin thriving and who have a bright future.  So don't despair, quality personal service and products is still here!

Why Do You Leave

Research indicates there are two leading reasons people leave their preferred banking institution:

1.  An increase in a fee or fees;
2.  Poor customer service.

Any change we make in fees we feel is necessary and justified.  Those of you on the receiving end of these fees should call us anytime you feel a fee is not understood by you or justified.  And it goes without saying that we always encourage input on our client service level.

Student Loans

Student loans and the repayment of student loans is a real problem in our economy.  It seems those who own up to their commitment to repay the loans are being penalized by those who do not repay.  The rates on the loans to those who are paying keeps going up to offset the losses of those who do not.  I think getting these loans is too easy.  Another example of government taking over what had been a rather successful program and turning it into a mess.

Markets

A little correction in the stock market is taking place.  Was due. 

Arctic Air

A person certainly gets a feel for what those who live inside the Arctic Circle experience!  It is damn cold out.  People are always telling me this must remind me of Upper Michigan, where I grew up.  The fact is, it seems colder here.  Granted winters up there are longer with lots of snow.  But I much prefer snow over brutal cold!  Another factor is that the U.P. is almost completely surrounded by open water, which at 32 degrees or more tends to produce snow and milder temps.  So if you want to escape this cold, go to the U.P.  (tongue in cheek!) 

Here and There

One has to wonder where the 110,000,000 credit and debit card theft from Target will end up.  It also sounds like this is only the tip of the iceberg and that many other retailers may have also been hit.  Does that mean 90% of people in the U.S. have already had their information stolen?  One has to wonder.

Global Warning

I am aware that the issue of global warming is more than just one winter, but I sure am not hearing much about global warming this winter around here!

Target

Target Corporation is offering one year free credit monitoring and identity theft protection to anyone who was affected by the recent Target data breach.  So if your credit or debit card was affected, you can go to the following site to get the free monitoring and protection.

https://corporate.target.com/discover/article/free-credit-monitoring-and-identity-theft-protection

Weather

Yesterday when the temperature got way up to 9 degrees ABOVE zero with the sun shining, one could not help buy notice the lift in peoples'  spirits!  The sun is a powerful intoxicant! 

Fair Weather Fans

Minus 7 degrees at kickoff in Lambeau this Sunday.  I'll be there and not in a suite.  I have a outfit worn by those who compete in the Alaska Iditarod and boots good to minus 130!  Two son-in-laws; 2 daughters and 3 grandchildren accompanying me.  They have been to cold games before, but not as cold as this will be.  Hope it beats the 1967 Ice Bowl for low temp!

Happy 2014

Today ends a successful year for Oak Bank.  But as of tomorrow, it is history and we start all over.  There is still a lot of uncertainty in our economy.  But we are optimistic that our team will do what it takes to make 2014 special.  Happy New Year to all!!