Summer 2015 Bank Notes

SUMMER
2015
TOMPKINS
VIST
BANK
Good Time for
Mortgages and
New Construction
Loans If you’ve got your eye
on a new home, or are looking
to build a home or purchase
land simply for recreational use,
Tompkins VIST Bank’s got you
covered.
“Mortgage interest rates are still low, so
if our customers are interested in buying
a property, or refinancing or building a
home, now is a good time,” says Pam
Shenk, SVP and Manager of Residential
Mortgages. “We also offer land loans,
something few of our competitors do.”
She also points out that, unlike many
other banks, Tompkins VIST Bank doesn’t
currently sell the servicing of their
mortgages. This means you can stop
by any local Tompkins VIST Bank branch
and make your mortgage payments.
Tompkins VIST Bank can finance up to
95 percent of the combined cost of the
land value and construction of a new
home. Mortgage insurance required.
“What’s more, we have local decision
making, which expedites decisions, and
we work with the builder, which makes
things easier for our customers,” she
says.
If you’re interested in purchasing up
to 50 acres just for recreational use,
perhaps to hunt, fish or camp, Tompkins
VIST Bank can help there too. “As a
Pennsylvania community bank, we know
how beautiful our state is, and we like
helping customers buy property for their
own enjoyment,” Pam says.
Loans subject to credit approval.
A Different Kind of Pie Fundraiser
(But Even More Successful Than Last Year’s)
A different kind of pie was the focus
of the second annual Tompkins
VIST Bank fundraising event for the
Muscular Dystrophy Association,
but it succeeded in bringing in even
more funds than the 2014 event.
Last year, Tompkins VIST Bank
employees and supporters paid $6,000
for the chance to throw a dessert pie in
Jonathon Werley
the face of a bank executive. At this year’s
event – Cow Pie Bingo – the bank raised a total of $10,000, including $7,000 from
employees and a $3,000 matching gift from the Jeremy Carroll foundation. The funds
were used to send children with MD to a summer camp in June.
The event was held at Classic Harley Davidson in Berks County. Tompkins VIST Bank
employees and guests watched as two steer calves wandered around a grassy pen
adjacent to the dealership. Employees purchased $20 squares for the chance to
claim where the cow would lay a pie. To everyone’s delight, one of the calves picked a
spot in just a few minutes.
The calves belong to Jonathon
Werley, 11, who is raising
them for a 4H Dairy project.
Jonathon is the son of Travis
Werley, head of the bank’s
agribusiness group and a
farmer himself.
At the check presentation are, from left, “TCU,” the
“winning” steer calf held by its owner, Jonathon
Werley,11; Ethan Pyles, 12, and Austin Whitmoyer,
18, MDA goodwill ambassadors; Katrina Schreefer,
executive director, MDA; Meghan Dashe, MDA
fundraising coordinator; and Scott Gruber, President
and CEO, Tompkins VIST Bank.
“This was a fun way to support
this very worthwhile cause,”
said Scott Gruber, President and
CEO of Tompkins VIST Bank.
“I’m proud that our employees
responded so enthusiastically, and we are very appreciative of the generous donation
from the Jeremy Carroll foundation.”
Managing Cash Flow in Retirement
Detailed budgeting, frequent monitoring of income and expenses, and prompt action to address potential cash flow problems are
essential elements of financial planning for retirees. Despite careful planning and reasonable assumptions about investment returns,
inflation, living costs, and other variables, retirees are likely to face many developments affecting their cash flow over the years.
Expenses vary depending on individual lifestyles and health. Income may be affected
by changes in investment performance and interest rates. Other factors bearing on cash
flow include changes in tax rates and rules and alterations to Medicare, Social Security, and
employer-provided retiree benefits.
Except for the fortunate few who don’t have to worry about money, the ultimate
goal for most retirees is making sure their assets last as long as they live. Once
a person or household no longer can rely on earned income to pay the bills and save for the
future, balancing income and expenses becomes the primary focus of financial planning.
And because of increasing longevity, managing cash flow is more critical than ever. A typical
American electing to retire in his or her mid-60s may expect to live 20 or more years after
retirement.
If you are retired, or about to retire, Tompkins Financial Advisors can help you
gather and organize key information before you can tackle the ongoing tasks of monitoring and
managing your cash flow in retirement. The process can provide you with a clear and complete
picture of your current financial situation, as well as of any significant changes you expect.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC. Insurance products offered through LPL Financial or
its licensed affiliates. The investment products sold through LPL Financial are not insured Tompkins Trust Company deposits and are not FDIC insured. These products are not
obligations of Tompkins Trust Company and are not endorsed, recommended or guaranteed by Tompkins Trust Company or any government agency. The value of the investment
may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.
Right Financing Options Key for Businesses Looking to Grow
The harsh winter of 2015 kept many consumers inside and hurt business sales, but now summer is here and the
business outlook is brighter like the summer sunshine. Many companies that delayed plans for growth are now more
confident. With the economy still sluggish, however, they remain cautious: they want to increase revenue, but not at
the expense of higher costs and debt load.
For these businesses, our community bankers can offer some recommendations:
• Many companies have allowed their equipment to grow
old or delayed preventive maintenance and are now ready
to move ahead. Instead of using a line of credit for such
purchases, you should consider a term loan. Term loans
provide repayment of debt over a reasonable time frame,
which allows businesses to use their line of credit for short
term or working capital needs.
• Businesses that have become stable and profitable may
now be considering purchasing the locations they occupy or
buying additional property. Like owning a home, business
property ownership has many benefits such as building
up equity and providing tax advantages. We can help you
evaluate financing options for purchasing real estate. For
example, the Small Business Administration offers programs
that are available precisely for this purpose. What’s more,
your community banker can help make the application
process faster and easier.
• Some small business owners continue to manage their
companies from their checkbooks. This prevents them
from getting an overall financial picture of their business,
including cost versus revenue and the “break-even” point.
Your bank relationship manager can assist you in this
process, which will help determine how much the business
needs to borrow to support your plans.
• When reviewing financing plans, the business should
look into our bank’s remote deposit, cash management and
internet services. These enhance efficiency, make funds
available sooner and allow the owner to better manage cash
flow.
Summer is the ideal time for small businesses to take steps to improve their businesses. We care about our customers
and are ready with options suited to your particular needs. Contact your local branch office for more information or visit
our website.
How to Work with a Financial Advisor
No matter your level of investment experience or sophistication, you may benefit from developing a relationship with a
financial advisor. Most people can benefit from professional guidance when they venture into the complex and confusing
world of managing their financial affairs.
A trusted professional with Tompkins Financial Advisors will be able
to assess your risk tolerance, analyze your resources and current asset
allocation, take into account your tax liability, and make investment
recommendations in the form of a written financial plan that will
help you pursue your goals. The plan may help ensure that your
current and future assets are used to their best advantage given your
current financial situation and your financial goals.
A flurry of new investment products, the emergence of global
investing, the shift from company-funded pension plans to employeedriven retirement plans (like 401(k) plans), and uncertainty about Social Security have all contributed to the increased
need for qualified financial advice. By deciding to consult a financial advisor with Tompkins, you have begun to take
charge of your finances. Together, you will create a strategy to maximize the earning power of your assets so that they
are working toward establishing a secure financial future.
If you are interested in speaking with a representative of Tompkins Financial Advisors,
contact your local bank branch office. They can arrange an appointment for you.
Points to Remember
1. A financial advisor has been trained to analyze your personal financial situation.
2.Financial advisors can earn certifications or designations by completing
accredited courses of study.
3.There are a number of ways you can benefit from working with an advisor.
4.The first thing you and your advisor will do is uncover the strengths and
weaknesses of your financial situation.
5.Your advisor must have an accurate picture of your financial situation to create a
workable financial plan for you to follow.
6.Be prepared to answer, or at least discuss, questions about retirement, college
savings and estates, among others.
7. Involve your financial advisor in investing decisions.
8.Knowing what to expect from your financial advisor is an important first step in
establishing a potentially long and prosperous relationship.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC. Insurance products offered through LPL Financial or
its licensed affiliates. The investment products sold through LPL Financial are not insured Tompkins Trust Company deposits and are not FDIC insured. These products are not
obligations of Tompkins Trust Company and are not endorsed, recommended or guaranteed by Tompkins Trust Company or any government agency. The value of the investment
may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.
Guests (Including the FourLegged Kind) Celebrate
Humane Society Fundraiser
May was National Pet Month, and what better way to
celebrate than hosting an Adopt-a-Pet event? That’s what
Tompkins VIST Bank’s Northeast Reading Branch did to mark
the end of its two-month-long fundraiser to support the
nearby Humane Society.
The branch collected
donations of dog and
cat food, toys and
other items as well
as “Dollars for Paws”
starting in early April.
By the end of May,
the staff had received
more than $1,000 in
donations as well as
nearly 100 pet items.
Paula Barron Honored
By United Way
Paula Barron, senior vice president of Retail
Banking, has long been a supporter of many
community organizations and initiatives. She
continues to receive accolades for her efforts. The
United Way of Berks County, for example, recently
recognized her contributions by naming her this
year’s Community Champion.
“The Community Champion award is presented
to an individual or organization that provides
extraordinary support to promote United Way’s
mission and message,” said Chris Spanier, United
Way’s Marketing/Communications director.
Enjoying the NE Reading Branch Adopt-a-Pet
“Customers as well as event is staff member Sara Woodland and
bank employees were Prince Harry, a white Maltese lap dog.
very generous,” said
Lori Johnston, branch manager, who came up with the fundraising
idea. “One employee even donated $100.”
On May 29, the last day of the fundraiser, the Humane Society
brought adoptable animals to the branch. Prince Harry, a maltese
lap dog, and Emily, a shih tzu, were a big hit with customers and
staff, and Emily was lucky enough to be adopted that day.
“We’ve had a lot of positive comments about this event, and we were
happy to do it,” said Lori. “Since the Humane Society is just three
blocks away, we not only supported the community, we supported
our neighbor.”
Paula Barron (center) with Tammy White, president of
the United Way of Berks County, and Chris Kraras, right,
chairman of the organization’s board.
Chris noted that Paula has served the United Way
in many capacities, including in strategic planning
and as a board and executive member. She also is
chairperson of the Marketing and Communications
cabinet, where she advises the United Way on
its messaging and communications strategies,
which support its fundraising efforts. “We greatly
appreciate Paula’s contributions,” said Chris.
Eagles Honor Tompkins Employee
Terri Ives, a Personal Insurance Relationship Manager at the Tompkins Insurance Blue Bell Office, has
been awarded the Philadelphia Eagles Community Quarterback Award for her outstanding volunteer
work with Cradles to Crayons. This program honors individuals who exemplify leadership, dedication and
a commitment to improving the communities in which they live through volunteerism. As a communitybased organization, Tompkins is proud to have an employee like Terri who serves as a role model for all.
Please send us your thoughts on Tompkins VIST bank’s services.
Customer Care Center 1-888-238-3330
Tompkins VIST Bank | PO Box 6219 | Wyomissing, PA 19610
VISTinfo@tompkinsfinancial.com www.VISTBank.com
Tompkins Financial Advisors 610-372-7737 | Insurance Services 888-601-2611
24-HR Telephone Banking 800-382-8128
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