Stockman Bank: Bill Coffee - Coffee Talk Q1 2019

Coffee Talk – 1st Quarter 2019

Growth and Celebration

Stockman Bank: Bill Coffee - Coffee Talk Q1 2019

Bill Coffee, Chief Executive Officer

2018 was a milestone year for Stockman Bank as we celebrated 65 years of serving Montana with the best in banking services. Over the past year, we enjoyed growth in virtually all areas of the company with more and more Montanans placing their trust in Stockman to help manage their money, achieve their goals and realize their dreams.

When customers share why they have chosen Stockman Bank, it’s clear that trustworthiness, homegrown community service and western values are more important than ever.

“Love this bank. Montana owned and operated.”

“Only bank for me, my family and my business. Top notch service and community servants.”

“Best bank I’ve ever banked with. Been banking with them since I was 17 years old.”

“Great people and they do a great job in our community!”

“Love Stockman Bank.They have supported our business and ambitions for 20 years.”

Stockman Bank: 65 Years Badge

Looking Ahead

Putting our customers at the center of all we do has always been and will continue to be our priority as we begin our next 65 years. During 2019, we focus on new and enhanced digital banking tools and services designed to give you the freedom to bank when, where and how you want.

We recently introduced Stockman Home Lending, our new digital home loan application. You can complete the application process, start to finish, on your computer, tablet or mobile phone. It’s easy, quick, convenient, and backed by a team of local real estate lending experts right in your community.

Stockman Bank: TY to Laptop/Tablet/Mobile
Later this year, we’ll roll out a new digital service to make payments to friends and family even easier. You’ll also enjoy a new online/mobile banking experience, allowing you to more conveniently manage your money all in one place.

It’s All About You.

What isn’t changing is our focus on the people and communities of Montana. Why Montana?

Stockman Bank: Montana State Flag

Simply, we don’t want to be anywhere else. While other banks are looking to other states for growth and opportunity, we remain firmly committed to Montana. We don’t need to look west for growth and success. We still believe there is great opportunity right here in Montana for businesses of all sizes, for our families, our communities and Stockman Bank.

As our customer, you will never take a back seat to customers in other states. As Montana’s largest privately held, family owned bank, we answer to you – not to corporate analysts and Wall Street investors. It’s all about you and only you at Stockman Bank.

Thank you for choosing Stockman Bank and placing your trust in us. We appreciate your banking relationship!

– Bill

Bank Disclosures

Welcome Home Mat on Front Porch

Investing in Real Estate as Part of your Retirement Plan

Kim Tomljenovich

Kim Tomljenovich
Loan Officer at Billings Grand Avenue

Retirement can seem like a long way off for many people, but it is amazing how fast time flies. At this stage in my career, I am picturing what my retirement will look like. When should a person think about retirement and plan for it? As a real estate lender, I know that one of the most accessible ways a person can invest for retirement is in real estate. You have to pay to live somewhere anyway, right?

Net Worth of Renters vs. Homeowners

In a recent study by Keeping Current Matters, a real estate consulting firm, they compiled information from the Federal Reserve on the net worth difference of renters and homeowners.

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released.

The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).” 1

Buy or Rent?

If you purchase a home before the age of 36 and have a 30 year mortgage, then potentially you could have it paid off by retirement – which will allow you to live without monthly mortgage payments upon retirement. Then, if you wanted to live elsewhere, you could sell the house and purchase another home paying cash – still not having a mortgage and potentially (if purchasing a home for less) could keep some cash for yourself.

Of course there are pros and cons to owning a home.

I’ve heard remarks about rising interest rates and rising house prices. Yes, there is market fluctuation and we do not know what rates will do or what housing prices will do at any given time. However, I still believe owning a home is a wise investment and a person should jump in when they can. If the interest rates drop during the ownership, you can always refinance (at a shorter term to pay off sooner) or if interest rates rise we will help you find the best solution for your mortgage.

I often hear from renters how they’d love to paint or update some things in their home. However, they won’t because they don’t own it and it doesn’t make sense to invest in someone else’s house. When you own it, you can “invest” in your home with improvements to enjoy as well as increase the value.

When should you not buy a house?

I believe if you don’t know where you want to live or you know for certain that you will be moving within the year, it may not be a good thing to purchase a home. In my life, I have owned seven houses and one commercial building and made money with all but one house.

Buying your first home doesn’t have to be overwhelming. My advice is to seek out an experienced home mortgage loan officer who will educate you and help with every step of the process. I am proud to be part of Stockman’s team of experienced loan officers. We can help find the right home loan for you.

The Right Home for You

Investing in the home that you live in is one way to help set yourself up for retirement. I like to think of my home as an investment toward my retirement goals and hope to own it “free and clear” when that time comes.

Bank Disclosures

References:

  1. https://www.keepingcurrentmatters.com/2018/08/20/the-net-worth-of-a-homeowner-is-44x-greater-than-a-renter/
Stockman Bank: Combining Wheat

Farmers and Ranchers: America’s Unsung Heroes

National Ag Day LogoMarch 14, 2019 is National Ag Day, celebrating and recognizing the contribution of agriculture in our everyday lives.

The National Ag Day program encourages every American to:

  • Understand how food and fiber products are produced.
  • Value the essential role of agriculture in maintaining a strong economy.
  • Appreciate the role agriculture has in providing safe, abundant and affordable products.

The contribution of agriculture is profound in our everyday lives.  Agriculture provides almost everything we eat, use and wear on a daily basis.  Each American farmer feeds more than 165 people, a dramatic increase from 25 people in the 1960’s. In addition, agriculture is one of the biggest sources of employment in rural areas. To put it simply, American agriculture is doing more and doing it better.  As the world’s population soars, there is an even greater demand for the food produced in the United States.

Stockman Bank: Combining Wheat

Farmers and Ranchers in Montana

For those who farm and ranch in Montana, the weather can be a friend or foe. The past few years have been a challenge for ranchers who are trying to calve or lamb in negative temperatures and blowing snow. Getting feed and straw to animals, plowing snow, and keeping newborns alive and warm is a constant battle. One tends to hear a lot of salty language regarding the snow, the cold, this cow, or that ewe and on it goes.

Cow

Young Cow

Weather is a Big Factor

Farmers are in constant prayer mode for moisture and sunshine to come at all the appropriate times during the year, so they can seed, fertilize, hay, and harvest. No doubt about it, keeping up with the weather report whether it be via TV, radio, smart phone, carrier pigeon or any other means is crucial to those who make their living in agriculture.

Sheep with Dog

Changing Market Prices

And of course commodity prices are up and down depending on the year and what catalyst(s) are driving the markets in any given month. The fear of market pricing is stressful in itself.  Unlike folks with regular jobs who get a guaranteed paycheck, ranchers and farmers are dependent on what the markets will bare. Will you hit the top of the market this year or the bottom – and will the top of the market even cover costs?

Pivot over some Beets

It’s Hard Work

Undoubtedly this lifestyle isn’t for everyone. It takes strong-willed and dedicated individuals to earn a living this way. Farmers and ranchers are the backbone of our country. Take time to thank a farmer or rancher for their contribution to life in our country and the world.  The difference they make in everyone’s life is immeasurable.

Farming is hard work

All of us at Stockman salute the men and women who choose to make their living in agriculture, and please know that we appreciate each and every one of you!

Bank Disclosures

Baby Boomers, Gen Xers, and Millennials, are they really that different?

Generations VLOG: Baby Boomers, Gen Xers, and Millennials.

Baby Boomers, Gen Xers, and Millennials, are they really that different? We assembled a dream team to find out! Check out the video below to learn, laugh, and reminisce with us. Be sure to stop by the comments and tell us a little bit about your generation as well.

Stockman Bank: Disclaimer