Banknotes Blog

In an Amazon world, where everyone is accustomed to unlimited selection and two-day delivery, the current supply chain crisis is officially affecting all aspects of life, from groceries to gift giving and from cars to kitchen remodels. What are your options for serving customers through this challenge when so many factors feel like they are outside your control?

“Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.” Most people are familiar with this time-worn adage, or some variation on the theme, and for good reason: there’s a lot of truth in it. The same principle can be applied to finances.

As a business owner, you have a company to run, and when it comes to retirement options, you just want something that is easy and inexpensive to set up and operate. This is where an SEP IRA or SIMPLE IRA can make a lot of sense.

Inflation is on the rise, the economy slowed dramatically in the third quarter, and yet, the markets staged a strong rally in October. Like the song says, “We got to beware,” and “Everybody [needs to] look [at] what’s going down,” if we want to be able to navigate through the uncertainty.

"Together, everyone achieves more." More than simply a clever mnemonic device that encapsulates the importance a unified collective working toward a common goal – a TEAM – this phrase underpins the approach that Lake Ridge Banks' commercial & ag, treasury management, wealth management, private banking, and other financial professionals bring with them to the office (or home office) every day. It's a mindset that allows us to maximize results for our partners, and that's helped propel our own business forward for the past 110+ years.

Cryptocurrency is, in a lot of ways, the new Wild West of finance. The following PSA details one of the newer scams out there, and how to avoid it.

Interest rates may go up, prices may come back down. We simply cannot predict the future with any certainty. The best strategy is to just do what is best for your current business operations.

Choosing the right person to administer your estate can be hard. Many feel compelled to choose a family member, not realizing there are other, perhaps better, options.

As things continue to play out in ways both expected and unexpected in the markets and economy, we can’t really say that this is just what we thought would happen.

From supply chain issues to employee shortages, the challenges affecting every corner of commerce are also creating difficulties in the ag industry. Your local ag lender can help.

While economic uncertainties are beyond our control, we can be proactive by focusing on things that aren’t. Here are five moves you can make to benefit your retirement over the longer term.

Lake Ridge Bank has an easy solution to greatly reduce the opportunity for check fraud from your business deposit account: Positive Pay.

When to file for Social Security should not be a one-size-fits-all proposition. Many factors come in to play, and your decision should not be made in a vacuum and certainly not based on a headline.

If your business requires a physical location, one of the biggest dilemmas can be whether to build, buy, or rent. In truth, there is no one-size-fits-all answer to that question. The most important thing to remember is, the answer that's best for you and your business should be based on facts and not fear of the unknown.

Understanding your income versus liabilities is important when establishing a budget that works for you and your household. Winning at this means your finances win both today and in the future.

Normally, when a flight encounters turbulence, something outside of the airplane is the cause. That’s not the case with this Delta flight, however – the widespread variant of COVID-19 is causing strife in our society (mask mandates; less activity, like going out to eat; etc.) and could result in sustained disruption to our economy going forward.

We’ve written about gift-card scams in this space before, but there’s a new one going around that’s taken a novel approach to the time-tested strategy. The following article discusses what that approach looks like in more depth, and can help you make sure that your money stays where it belongs: in your pocket.

If a prospect or client derives value from our conversation, that next meeting is probably assured. If not, there may not be a next time, or they will delegate us to a subordinate. Both are dead ends. Given that decision-influencer prospects & clients are time-starved and could easily fill their days twice over with meeting requests, why should they make time for us? The answer may be found in the "four pillars of value for time" upon which we need to intentionally draw: Insight, Perspective, Relevance, and Resilience.

Can you put a price on peace of mind? If you're a life insurance policyholder, chances are, you'd say yes. And if you're not, it may be time to reassess your situation.

When it comes to customer retention and acquisition, there are some less obvious, but particularly important, characteristics worth remembering. Here are three for your consideration.

If you are looking to purchase a home, understanding what a Debt to Income Ratio means, and what your DTI is, is important in securing a great mortgage.