CUSTOMER SPOTLIGHT - Resource Construction in Troy, IL Has a 20 Year Focus on Building Communities

Resource Construction provides a complete design build service for residential and commercial developments.  “Our primary goal at Resource is not simply to build houses, 
but to build communities. We continually seek development projects that provide the added opportunity to create something special”, said Chris Geiler, President of Resource Construction. 

Resource Construction is seeing a great deal of growth in both residential and commercial developments. Projects cover much of the Metro East with a heavy concentration in the Troy, Edwardsville, Collinsville triangle. Mike Ward, AVP Corp. Banking Officer with National Bank, understood Chris’ vision of building communities from his background as a community banker. National Bank provided the financing for the early stages of the Villas at Windsor Way and has enjoyed playing a small part in the growth and expansion of Resource Construction. 

The Villas at Windsor Way, a Resource community on the outskirts of Troy, is wrapping up phase 1 of the 2 phase development. Windsor Way offers homes in the $180,000 to $280,000 range, for homeowners looking for a maintenance free lifestyle. The villas are just 20 minutes from downtown St. Louis and border the Madison County Trail System.

Resource Construction’s California Timbers development was one of the first new developments in the city of Collinsville after the recent construction slowdown and recession. California Timbers subdivision has homes in the $215,000 to $300,000 price range. “We have some really nice wooded walk-out lots. A total of 22 homesites, from 12,000-21,000 square feet, will round out the development. Currently 4 homes are completed with 2 more under construction,” Geiler said.

Resource Construction continues to seek development opportunities that will create future residential and commercial communities. This will continue to be the blueprint for success at Resource Construction.

A Bank Customer’s Guide to Cybersecurity from the FDIC

What Consumers Can Do ... and What Banks and Regulators Are Doing ... to Help Prevent Online Fraud and Theft.

• Safety precautions for Internet banking or shopping 

• How to avoid identity theft online

• The roles of banks and the government in protecting customers

• Additional resources from the FDIC that can help educate consumer

Click on the newsletter below for the following articles:

Protect Your “Cyber Home” With a Solid Foundation 

Simple steps to secure your computers and mobile devices for Internet banking and shopping

Going Mobile: How to be Safer When Using a Smartphone or Tablet 

What Banks and Bank Regulators are Doing to Protect Customers From Cyberthreats 

Beware of Malware: Think Before You Click!

Beware of Phishing Scams: Don’t Take the Bait 

Using Social Networking Sites: Be Careful What You Share

For Parents and Caregivers: Tips for Protecting Your Child’s Personal Information 

How Federal Laws and Industry Practices Limit Losses From Cyberattacks 

Cybersecurity for Small Businesses: Ways to Stay Protected 

How to Protect Business Assets in an S Corporation vs. Partnership

From the Houston Chronicle

The use of limited liability entities -- including S corporations, C corporations, limited partnerships and limited liability companies -- is a vital component in any asset protection strategy. However, it is not the only technique you can use. You can also implement legal techniques that serve to deter potential plaintiffs from targeting your business for a lawsuit, or to cause them to settle on more favorable terms than they otherwise might.

Step 1

Identify liability-generating assets. These are assets that have a high likelihood of generating a lawsuit.

Step 2

Separate liability-generating assets from non-liability-generating assets. For example, you may own a building and a business. If the building is not likely to generate a lawsuit, but you work in a highly litigious industry, don't have the entity that owns the business also own the property. Instead, you may have two separate companies: One S corporation owns the business itself, while another entity -- perhaps another corporation or an LLC -- owns the real estate. The company that owns the business leases the building from the other entity. This way, the building is not put at risk if the S corporation is targeted in a lawsuit.

Step 3

Strip the entity of equity. For example, you may wish to encumber a corporation that owns real estate with loans against that real estate. You may have some cash on hand, but that cash on hand is offset by your liability for the loan, making your business substantially less attractive to plaintiff's attorneys looking for a deep pocket.

Step 4

Separate your name from your business name. For example, if you are a prominent individual and your name is John Harold, don't name your corporation "John Harold Enterprises." The idea is to keep a low profile, and avoid being targeted as a deep pocket.

Warning

Consult an attorney for advice pertaining to your specific situation before making any major moves. For example, if you wait until after a liability-generating event, such as a workplace injury, to move assets out of your S corporation, you could be cited under fraudulent conveyance laws, and have the transfer disallowed. Be conscious of ownership restrictions on S corporations. S corporations cannot own shares in other S corporations, but they can own a membership interest in an LLC.

Learn How to Effectively Protect Your Business at the First of Four Free Educational Business Seminars Sponsored by National Bank

DATE: Wed., Sept. 23, 2015, 8:30 am to 10:30 am
LOCATION: Comfort Inn, 8 Commerce Dr., Collinsville, IL 62234
COST: FREE (Space is Limited, reservations are required)  

Make reservations today, space is limited (RSVP by Sept. 20).
Online reservations at national-bank.com or call Matt Stallard at 618-656-5804 Ext 4008.

 

Montgomery County Plat Books on Sale at National Bank Hillsboro

National Bank is a distributor for the 2015 Montgomery County Plat Books. Stop by the Hillsboro Bank at 230 South Main and purchase yours today for $40. Customers of National Bank receive a discount off the $40 price.

Montgomery County CEO Program Offers Experiential Entrepreneur Learning for High School Seniors

The Montgomery County CEO Program seeks to prepare people, especially youth, to be responsible, enterprising individuals who become entrepreneurs or entrepreneurial thinkers and contribute to economic development and sustainable communities. The CEO program is much more than a textbook course. Rather, students are immersed in real life learning experiences with the opportunity to take risks, manage the results, and learn from the outcomes. The program is an experiential entrepreneur class for high school seniors and is funded and guided by the business community in cooperation with the area high schools.

A total of 46 businesses in the county are involved as investors in the program. National Bank, headquartered in Hillsboro, is not only an investor but has hosted CEO Program activities and is proud to have Misty Borrowman, CEO of National Bank as one of the Board Members. 

The CEO Program is dedicated to providing entrepreneurial leadership in communities across the country.

National Bank Personal Lending Code of Conduct

10 specific promises made to every commercial lending customer.

National Bank will take the time and make every effort to know and understand your business. 

National Bank will propose business and lending suggestions/solutions with the overall growth and success of your business as their number one concern.

National Bank will provide prompt response to your loan requests.  

National Bank will meet the customer at their convenience.

National Bank will work to establish a long-term customer relationship that creates a productive business partnership.

National Bank will structure loan terms & repayment schedules to meet your individual needs.

National Bank will provide updates throughout the loan process as specified by the customer.

National Bank will service all the commercial loans that we originate.

National Bank lenders will demonstrate their knowledge of local markets and provide creative lending solutions.

National Bank will make all commercial lending decisions locally by Directors and Bankers that live and have a stake in the communities they serve.