Latest "COVID-19" Posts

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 […]

October 8, 2020 – After many long weeks of waiting and wondering, we’re very pleased to announce that the SBA has started to approve and fund PPP loan forgiveness applications. The first was received yesterday. If your application was already submitted, we anticipate action by the SBA shortly and will let you know once funding […]

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 […]