Summer is Vacation Time!

julia-warmer

Julia Warmer

Post written by Julia Warmer, Digital Media Manager 

Summer is vacation time!

Plan a trip to your dream destination! Pack your bags to explore our beautiful state or venture farther and travel in the US or abroad.

You may have heard that spending money on experiences makes us happier than buying material items.

Research shows that how you choose to spend your hard earned money can significantly contribute to long-term happiness.

In fact, that same research shows that planning a trip is known to make you as happy as the actual trip itself.

To keep your memories positive and long-lasting, we recommend you take the time before you depart to do a few straightforward steps.

  • Summer BoatingCall or drop by your local branch and let us know your plans. Give us the dates and places you’ll be visiting to help keep your account safe.A charge on your card, miles away from usual activity may cause your account to be flagged for fraud. Our Customer Service phone number is 1 (877) 300-9369 or go to our website to get the phone number of your branch.
  • If you lose your debit card, remember that you can turn off your card in our mobile app.
    1. You can block your debit card not to allow new, in-person transactions. Pending and recurring transactions will NOT be affected.
    2. You can set location limits and merchant limits on your card.
    3. And it is easy to unblock your card at any time. Just turn the block off.

We want you to enjoy your vacation and make lasting memories.

We might even have a recommendation to offer for that must-see sight or the restaurant no one should miss.

Finally, if you have time, here’s an article with even more travel tips.

Safe travels and happy summer!

Bank Disclosures

Bill Coffee

Coffee Talk: Quarterly Report – Q2 2018

Bill Coffee

Bill Coffee, Chief Executive Officer, Stockman Bank

This year, Stockman Bank celebrates its 65th Anniversary!

There have been many changes in our state and the banking industry since we first opened our doors.

But not all has changed.  At Stockman Bank, our mission remains unchanged and strong: to serve all Montanans of every walk of life with a focus on creating long-standing relationships through integrity, expertise and results.

We live our mission every day by continually building and refining our products and services to meet the unique needs of our Montana customers and communities. A good example is Stockman Wealth Management.

When our customers started to ask us for assistance beyond traditional banking services, we knew we needed to find a way to help them achieve financial goals in all aspects of their lives.

So, we created Stockman Wealth Management to provide investment and financial planning services and help our clients build a pathway to a successful financial future.

If you think you don’t have enough wealth to benefit from Stockman Wealth, think again. Have you ever wondered or worried about having enough money for retirement, for college expenses or that vacation home you’ve always dreamed about?  Then you need to visit with our team at Stockman Wealth.

We’ll help you create and follow a financial roadmap uniquely designed for your long-term prosperity. Stockman’s approach is firmly based on a “client-first” philosophy.

Our talented team will work directly with you to guide you through a variety of financial solutions including retirement and estate planning. We make sure we understand your entire financial picture and then design a plan to meet your individual goals.

Stockman Wealth can assist you with managed investments as well. Our professional advisors can assist you to determine the proper investment plan and optimal mix of investment securities to allow you to reach your goals.

Then, we create an investment portfolio for you, customized to reflect your investment objectives and time horizons, while minimizing tax consequences and risk exposure. Our advisors manage and monitor your portfolio, always ensuring it remains aligned with your individual financial goals.

Since 2002, Stockman Wealth has provided individuals and families with a level of financial expertise and service that makes us a valued and trusted partner. If you are in need of investment and financial planning services, please contact us.

With locations around Montana, we have local professionals available to guide you every step of the way throughout your financial journey. High-quality decisions are easy when values are clear.

Our team is empowered to make local, independent decisions based on what is best for you, our client.  This has been our mission for our first 65 years and will continue to guide us into the future.

We thank you for being a part of the Stockman family and wish you a safe, fun-filled Montana summer!

Stockman Bank Wealth Management Disclosure

Jim and Cathy 600

My Father’s Footsteps

Jim and Cathy

Jim and Cathy

Post written by Cathy Fitzgerald, Credit Review Officer

Just as the Yellowstone River runs through Billings, banking runs through my family’s veins.

My dad, Jim Bennett, has been in banking his entire professional career. In fact, because of banking, my father met my mother.

They were both working at Montana National Bank in Havre, MT, where my father was an assistant cashier and my mother a teller.

They found love in one another that has lasted for 65 years through all of the ups and downs in the banking industry, never losing their love for this profession.

Little did they know that this passion for banking would be shared by their children and grandchildren.

Shortly after my parents were married, my family moved to Livingston State Bank where my father was hired as a cashier and worked his way up to become a loan officer.

Joining the lending world helped my father create a clear vision for his future and for his family.

Don and Blayne

Don and Blayne

Working closely with a few key investors, he was able to start First Citizens Bank in Billings in the late 1960’s.

In 2003, he ended his career as President of what grew into a multi-state bank holding company.

My dad’s vision was extended to my brother, Don Bennett, who, with the help and guidance of my parents, decided to start a family-owned bank in Columbia Falls, MT.

Don has followed in our father’s footsteps and is bringing his daughter, Blayne Furey, along with him.

My niece Blayne has joined Don in the banking world by facilitating their electronic loan file product, eFinancial Solutions.

When the opportunity arose for me to return to Billings in 2015 to work for Stockman Bank as a Credit Review Officer, I saw a great opportunity to use my accounting degree in the banking industry, working for this family-owned bank for the first time.

Jeff and Cathy

Jeff and Cathy

To the delight of my father, I too entered into the unique world of banking.

Shortly after my return, my son, Jeff Fitzgerald, became the corporate pilot for another Billings bank.

Although we might not all be following the exact same career path as my father, we’ve all learned from his work ethic and love of the banking industry.

My dad is now proud to say, “It has taken a long time, but we now have five members of the family in banking, so we are getting there!”

Our family is grateful to have such an inspiring man as a father and grandfather.

Happy Father’s Day Dad!

I’m so proud to be a part of a family following in your footsteps.

Unlocking the Mystery of Uninsured Motorist Coverage

Two Drivers Arguing After Traffic AccidentPost written by Marcy Parks, Stockman Insurance Officer Manager

What do Uninsured Motorist Bodily Injury and Underinsured Motorist Bodily Injury mean on my Personal Auto Policy?

And if my agent says they aren’t mandatory coverages and I can save money by “rejecting” them, why would I want to pay for them?

Are they necessary?

The purpose of Uninsured Motorist Bodily Injury (UM) and Underinsured Motorist Bodily Injury (UIM) are to allow insureds to collect from their own insurance company, that which they should have been able to collect from the negligent uninsured or underinsured third party.

In other words, if someone hits your car and causes bodily injury to you or others who are in your car, and the person who hit you either has no insurance or less than enough to pay for your medical bills, your policy should kick in.

In addition, UM/UIM also covers you while on a bicycle or as a pedestrian.

Why would I want this coverage if I already have health insurance?

UM/UIM covers more than just medical bills. It should also cover compensatory damages such as pain, suffering, loss of relationship for a spouse or child, and lost wages while injured or due to death.

Coverages and Exclusions vary by policy, so please be sure to read your policy or talk to your agent. Aside from not covering lost wages, health insurance usually has a deductible and a co-pay, and some health insurance policies exclude auto accidents as covered losses.

Stressed Driver Sitting At Roadside After Traffic AccidentUninsured Motorist Bodily Injury liability (UM) coverage kicks in if the person driving the vehicle that caused the bodily injury isn’t insured, or their limits are less than the state required minimum limits where your covered auto is garaged.

Underinsured Motorist Bodily Injury liability (UIM) language in the policy differs by company. It’s important to read your policy or visit with your agent to find out what triggers this coverage in your policy.

Some policies state that UIM kicks in only if the injuries are caused by a motorist whose bodily injury liability limits are less than the injured person’s auto policy UM/UIM.

So if someone carries UIM limits of $25,000 per person, $50,000 per accident, and the driver who caused the accident has the same limits or higher for his Bodily Injury Liability, there is no coverage.

Some policies state that UIM kicks in if the negligent driver’s Bodily Injury Liability limits are not enough to cover the damages caused by the accident.

The bottom line is, UM/UIM are very important coverages and quite reasonably priced. Stockman Insurance agents can answer any questions you might have regarding this, and make it a priority to be sure you understand your policy and have the right protection you need.  Contact an agent today for more information.

To reach a Stockman Insurance agent near you, call our toll-free number 1-866-441-8485. We have offices in Miles City, Conrad, Glendive, Richey, Worden, Great Falls, Billings, Helena, Stanford, and Missoula.

Insurance Disclosure

Embracing A Faster Tomorrow

Ian Berryman

Ian Berryman

Post written by Ian Berryman, Assistant Manager, Cash Management Support

Innovation is often defined as the creation of new ideas, products or processes.

At Stockman Bank, we define innovation a little differently.

We believe that innovation requires not only fresh ideas, but also improvement. And we work hard to apply that definition to the products and services we offer.

In addition, we strive to improve our industry as a whole by collaborating with other stakeholders to reimagine banking for our customers in an increasingly digital world.

The National Automated Clearing House Association (NACHA) oversees and regulates the ACH network in the United States.

ACH transactions provide the backbone for many of the electronic funds transfers in use today.

This includes everything from direct deposit of payroll, check conversion, bill payments, debit card transactions and point-of-sale transactions, as well as PayPal, Venmo and other person-to-person (P2P) transfers.

In fact, in 2017 the ACH network processed 21.5 billion transactions totaling 46.8 trillion dollars!1

As part of our efforts at Stockman Bank to improve our industry, we submitted a proposal to the NACHA Challenge, an international competition open to corporations, think tanks and financial institutions to find creative solutions to complex problems within the payments industry.

The focus of this year’s challenge was finding simple ways for businesses and consumers to provide their bank account info without the need to recall their account and routing numbers.

award_acceptance

Other organizations submitted proposals, but only four teams were selected to present at NACHA’s annual PAYMENTS conference for thousands of payments experts from around the world.

The four finalists consisted of teams from Stockman Bank, IBM, Alacriti and Redwood Credit Union.

I had the pleasure of leading the Stockman Bank team in the competition and presenting our proposal at the conference.

Our solution is simple: let customers provide account information in an easy-to-remember access code, much like an email, without requiring major infrastructure changes to the banking industry.

Our competitors also proposed innovative solutions leveraging new technologies and creative systems, but I ‘m proud to announce that Team Stockman Bank was selected as the Audience Choice Award winner for the 2018 NACHA Challenge, reaffirming our commitment to innovation and the improvement of our industry.

In addition to the NACHA Challenge, I was able to gain a valuable perspective on the future of the payments industry while attending the conference… and the future is faster.

nacha_stats

We’re rapidly approaching a future where days and hours will be replaced with minutes and seconds for everything from new account opening to settlement of electronic funds transfers.

With these advancements come certain risks, but new technologies and processes are enabling financial institutions to prepare, analyze and execute strategies to mitigate risk faster and more effectively than ever before.

At Stockman Bank, our dedication to our customers guides us as we innovate and implement new tools and services to protect our customers’ assets and help them achieve their goals.

1 NACHA, https://www.nacha.org/resources/ach-network-volume-and-value-2017, Retrieved: 5/10/2018

 

Bank Disclosures