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First State Community Bank is a community bank located in southeast Missouri. First State Community Bank has been a locally owned, community bank and a Farmington landmark since its grand opening as First State Bank of Farmington on May 9, 1954. The bank has grown to become the second largest banking corporation headquartered in southeast
One advantage of a fixed rate certificate of deposit over a money market account, high yield savings account or bond mutual fund is that you know exactly what the interest rate will be over the term of the CD. Most bank CDs are for a fixed rate and a fixed term. Money market accounts, savings
The right to buy or sell a security or commodity at a specified price during a specified period. The holder of an option has the right, but not the obligation, to buy (call option) or sell (put option) a security or commodity at a specified price during a specified period. The writer of an
Not so long ago if people knew they were about to be coming into some money yet they needed to pay a bill right now, they could do what is known as “floating” a check. This involves writing a check when there actually isn’t enough money to cover the balance, at least at the
The notice required by the Equal Credit Opportunity Act advising a credit applicant or existing debtor of the denial of their request for credit or advising of a change in terms considered unfavorable to the account holder.
Be cautious of bank courtesy overdraft protection. Your bank may offer this service to pay or cover your check when you have insufficient funds in your account. However, this feature will cost you. S ome of the highest fees charged by banks are for courtesy overdraft protection. To avoid this, either avoid writing the checks
A group of different mutual funds, each with its own investment objective and policies that is structured as a single corporation or business trust.
A line of credit that may be used repeatedly up to a certain limit. Also referred to as a charge account or revolving credit.
Short term savings refers to money that you keep out of your checking account and stash away somewhere close in case of an emergency or a planned expense in the not too distant future.
This may be a fund for something unexpectedly unhappy like car repairs, or it may be for something like college tuition in
The Fed Wire is an electronic communications network connecting the Federal Reserve Board of Governors, the 12 Federal Reserve Banks, the U.S. Treasury and some other federal agencies. The Fed Wire is used by Reserve Banks for Fed Funds transactions, U.S. government securities sales and financial transfers from the connected institutions.
Federal Farm Credit Banks that provide short and intermediate credit to the agriculture industry. Securities issued by the Federal Farm Credit Banks are secured by acceptable collateral with value equal to the bonds outstanding. The bonds are secured joint and several obligations of the Federal Farm Credit Banks operating under federal charter with governmental supervision.
The FDIC recently released an article regarding the topic of certain unfair and deceptive acts within the banking industry. The purpose of the article is on the analysis for determining an FTC Act violation not actual incidences within the banking industry.
In the publication, the standards are reviewed for what constitutes a deceptive or unfair business
Bank CD’s have become a more popular savings vehicles as competition among banks has increased interest rates and the accounts offer security provided by the insurance by the FDIC. However, a commonly mentioned drawback to CD’s is the early withdrawal penalty. CD early withdrawal penalties are easily managed and should not be a barrier to sound investing
Community banks are seen as an integral part of the economic of small towns and large cities in every U.S. state. Very often, the best terms for loans and bank savings rates can be found at community banks. A community bank that has been providing a wide selection of financial services as well as high
Computer controlled terminals through which customers may make deposits, withdrawals, or other transactions as they would through a bank teller. Groups of banks sometimes share ATM networks located throughout a region of the country that may include portions of several states.
Profits distributed to shareholders resulting from the sale of securities held in the fund’s portfolio.
Bank certificate of deposit rates were lower on all maturities for the week ending November 27, 2009. CD interest rate reductions for the average of the best bank rates were relatively modest, albeit from relatively low current yields. The long term bank CD rates, five year term CDs, as well as well as the short
The share price of mutual funds is based on their net asset value. Shares of mutual funds are bought and sold at the fund’s net asset value. The price that investors pay to purchase mutual fund is the approximate per share NAV, plus any fees that the fund imposes at purchase, such as sales loads
Northfield Savings Bank offers a variety of personal bank products and services for consumers in central Vermont. Northfield Savings Bank was founded in 1867 as a mutual bank that is owned by its depositors. The bank is now one of the nation’s few remaining mutual, depositor owned organizations, and the second largest bank that is
The key news for today is the monthly CPI or inflation figures produced by the Bureau of Labor Statistics within the U.S. Department of Labor. Today’s announcement showed that the CPI increased by 0.4% for the month of August. Without the volatile food and energy component, the CPI increased by 0.1%. For July, the aggregate
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