Financial Education Center

Client Spotlight: A Slice of St. Louis History

At First Bank, we celebrate like-minded, family-owned businesses that have survived and thrived through multiple generations of change. Now, in its fourth generation, First Bank has also done just that.

Establishing a Healthy Board in a Family-Owned Business

A board of directors is the fiduciary arm of a company on behalf of its shareholders. Its purpose is to help guide the company on important decisions, including hiring senior team members and setting salaries; making decisions on investments and dividends, mergers and acquisitions; and setting goals for the team and providing the resources to support those objectives to help ensure a company’s long-term success.

Uncle Sam Wants to Know About Your Gig Income

If you earn money through an app or online digital platform, you may be affected by a tax reporting change that took effect on January 1, 2022. A provision of the 2021 American Rescue Plan requires third-party payment processors to report business transactions totaling over $600 per year by issuing a Form 1099-K to the taxpayer and the IRS. In prior years, the reporting threshold was much higher (200 business transactions and $20,000).

Investor Insights: First Half Recap and Current Market Conditions

While various financial market returns are down double-digits and many are in correction territory, undoubtedly, the first half of 2022 has been nerve-racking for most investors. We started the year with unprecedented, soaring inflation at rates that have not been seen since the late 70’s and early 80’s, as well as higher food and energy prices, supply chain disruptions, the Omicron variant, and to top it off, news of Russia invading Ukraine!

Planning for Travel

Whether you want to take a dream trip around the world or simply want to visit your cousin in Indianapolis for a few days, you can benefit from some pre-trip planning. If you plan far enough in advance of your departure, you'll usually get better rates on airline fares, lodging, and packages than if you wait until the last minute, particularly if your travel plans are flexible.

Coping with Identity Theft

Whether they're snatching your purse, diving into your dumpster, stealing your mail, or hacking into your computer, they're out to get you. Who are they? Identity thieves.