Latest "COVID-19" Posts

July 6, 2021 – Our lending team has been busy preparing and processing PPP Forgiveness Applications over the past few weeks and has made tremendous progress. If you currently have an outstanding PPP loan, you do not need to do anything until you are contacted by someone from our lending staff.  Our team has been […]

April 26, 2021 – The U.S. Small Business Administration (SBA) is awarding funding through the Restaurant Revitalization Program to restaurants, bars, and other similar places of business that serve food or drink.  The purpose of this funding is to provide support to eligible entities that suffered revenue losses related to the COVID-19 pandemic.   Funds must […]

March 31, 2021 We are happy to share that Congress has extended the PPP program to May 31st, 2021 to help provide further relief to small businesses.  There have been many updates to this program since March 2020 including: Owners Draws:  If you are using Gross or Net Income to calculate Loan Amount, you must […]

March 31, 2021 – We are now accepting Forgiveness Applications for 1st and 2nd Draw PPP Loans. You may submit your Forgiveness Application at this time, but please note we will wait at least 11 weeks from the date of loan disbursement to apply for forgiveness to ensure full forgiveness. Please note, you must complete […]

March 3, 2021 – The SBA has issued an interim final ruling which allows individuals who file an IRS Form 1040, Schedule C to calculate their maximum loan amount using gross income.  SBA has issued updated forms for borrowers and lenders reflecting these changes and outlined how to calculate the loan amount.  The ruling clearly […]

January 11, 2021 – The Economic Aid Act was signed into law on December 27th, 2020. Part of this act is the Paycheck Protection Program (PPP) Second Draw Program aimed at helping small businesses impacted by COVID-19. Providing $284 billion in new lending capacity, the program is set up to support our local businesses who […]

December 30, 2020 – The second round of Economic Impact Payments (EIPs) are already arriving for direct deposit at the Bank and will continue over the next few weeks. Paper checks and prepaid cards will be sent by mail over the next few weeks. Customers may see a pending deposit as early as today. Please […]

December 28, 2020 – With the signing of the new stimulus bill, there will be a second round of PPP lending. We have no details yet from the SBA. We know this can be very frustrating, but our advice is to sit tight.  We should know more shortly. We will update our website and social […]

December 4, 2020 – On December 1st, the Small Business Administration released public data about Paycheck Protection Program borrowers – specifically, the borrowers’ names, addresses, exact loan amounts, and who their PPP lenders were.  This was done by court order following lawsuits brought by media organizations seeking the data.  Today’s SBA release involves PPP loans […]

August 14, 2020 – We are dedicated to providing you with an extraordinary banking experience. Our lobbies are now open for teller traffic! While we welcome you with open arms, we are taking certain precautions to help slow the spread of COVID-19. We care deeply about our customer’s and employee’s health and well-being. If you […]