Latest "COVID-19" Posts

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 […]

July 17, 2020 – To protect you and our community, beginning Monday, July 20th, we will require all customers to wear masks or face coverings in our branches. This requirement does not apply to young children or individuals who cannot wear a face covering due to a medical condition. Bank employees will also be wearing masks […]

July 10, 2020 – Many American’s are still waiting for their Economic Impact Payment (EIP). There are several different reasons as to why this is, depending on individual circumstances, but the Internal Revenue Service (IRS) reports that many may have accidentally thrown their payment away. Four million American’s received their EIP in the form of […]

June 22, 2020 – We have recently received the following updates for borrowers regarding the PPP Forgiveness Application: The Treasury reduced the requirement for payroll expenses from 75% to 60%. They are offering a 24 week covered period to maximize your loan forgiveness. Loans made prior to June 5th may elect to use the 8 […]

June 10, 2020 – Last week changes to the Paycheck Protection Program were finalized.  Good News: many (but not all) concerns of our small business customers were addressed. Our friends at Pioneer Bank in Mankato, Minnesota, recorded an excellent video on the updates. They are graciously allowing us to share this video with you.  Please […]

June 5, 2020 – We want to thank all our customers for your patience and understanding throughout the last few months. Though our lobbies were closed, we are grateful to have continued serving your financial needs in various ways. We are excited to announce that Cresco Bank will be reopening on June 8th and Decorah […]

May 29, 2020 – The Coronavirus Food Assistance Program’s (CFAP) direct payments have widespread application for producers.  Most row crops and specialty crops qualify, as do dairy and most classes of livestock. Visit https://www.farmers.gov/cfap for a summary of the features, a payment calculator, and requirements for this program.  Signup began on May 26, so be […]

May 29, 2020 – We have received questions about individuals receiving their Economic Impact Payment (EIP) in the form of a prepaid debit card, questioning its legitimacy. The IRS has announced that nearly 4 million people are being sent their EIP in this way, instead of a paper check. The payment will be on a […]

May 11, 2020 – The IRS has released guidelines on how to return an Economic Impact Payment (EIP). If your deceased loved one received a payment, follow these steps to return the EIP. If the payment was a paper check: Write “Void” in the endorsement section on the back of the check. Mail the voided […]

 April 30, 2020 – It is the seventh week since we initially closed our bank lobby. This week has been busy with the second wave of Paycheck Protection Program loans. We have been able to approve loans for 84 additional small businesses, making a total of almost 290 area small businesses receiving this loan since […]