as use - United Bank of Iowa.

December 2015
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Member FDIC
Message from the President
In This Issue:
•MerryChristmas
from UBI
•ChristmasOpen
House
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•AgVantage
•EmeraldClub
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Perhaps you’ve heard the saying
“If you are standing still you
are actually moving backward.”
Contrary to that, 2015 has been
another year of moving forward
at United Bank of Iowa. In March
we welcomed new customers
from the Onawa area and in May
we moved into our new Pierson
facility. As the year winds down,
we are pleased to have opened
our new office in Pocahontas.
At a recent banking conference
the comment was made that
“Banking is changing from a
place you go, to something you
do every day.” To stay in step with
today’s banking, UBI is committed
to providing you the latest in
modern electronic banking
services and security, as well as
establishing a solid foundation
for future enhancements in
this area. Improvements made
during this past October regardin
e-statement availability and
delivery were a step toward this
commitment. Thank you for your
patience as we undergo any
“remodeling” of our electronic
banking platform. Like any
other remodeling project, it can
sometimes be a bit frustrating,
however we are confident you will
be pleased with the modifications
you will experience in the coming
months. I encourage you to
contact any of our offices if you
have any concerns or questions
along the way.
The effects of lower corn and
soybean prices are being
softened this fall by some of the
best yields ever experienced by
some producers; however, the
prospects to produce at this year’s
levels in 2016 would be difficult
to predict. Based on that and the
potential for continued prices at
or below the cost of production,
there is a strong likelihood that
our farm customers may face
some real financial challenges
in the coming months. Success
in overcoming these challenges
will be easier realized by those
that become better in all phases
of production, marketing, and
Directors
Directors
financial management. United
Bank of Iowa has the commitment
and our ag staff has the expertise
to assist you in identifying
financial strategies for success.
Pictures of the UBI staff are once
again featured in this issue. They
are an awesome group, dedicated
to service, and ready to meet the
opportunities and challenges
that each day brings their way.
Be sure to stop by and say hello
during our Christmas Open
House on Friday, December 11th
at all our locations.
4
Thank you for being part of
another year of forward progress
at UBI. Have a Merry Christmas,
a safe New Year, and we look
forward to serving you in 2016.
0
Owen C. Bolte, President & CEO
4000
4000
The Perfect Gift
for Christmas
Give the special people on your list
the gift of choice with
a Visa® Gift Card!
Front Row: Lance Moore, Sharon Godbersen, Larry Hultgren, Ken Van Kekerix
Back Row: Jack Eggspuehler, Curtis Rupert, Dan Dotzler, Owen Bolte, Duane
Buehler, Steve Vohs
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Merry Christmas
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Denison
FROM ALL OF US AT UNITED BANK OF IOWA
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Front Row: Deal Bock, Kayla Thielen, Sue
Back Row: Jane
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Pocahontas
Storm Lak
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Front Row: Suza
Khamdaeng Mn Graham, Samantha Robinson
Yasmin Santizo,iddle Row: Jody Martinez, Julie , Peun SihachakHahn, Carla Lind
Schable, Kristo Maria Cervantes Back Row: Ka
pher Hauswirth,
ren Hartje, Jakegren,
Tami Tendal
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Ida Grove
Rivas, Lauren
Front Row: Jean Heiden, Ken Blair, Janet Kluver Middle Row: Paloma Schillerberg,
Candis
Row:
Back
Salgado
Kim
Esser,
Paula
Mohrhauser, Paula Ball,
Annie Schrum, Karen Koch, LaDonna Christensen
Dunlap
Wendy
Yohnke, Erin Beery, Sandy Sykes,
Front Row: Heidi Rollefson, BrendaPat Bielenberg, Lorraine Todd, Jackie Susie,
Lorenzen Middle Row: Mary Davis, Back Row: Ellen Schable, Cheryl Gosch, Karl
Amanda Van Houten, Tyann Juelfs
Wittorf, Austin Drey, Calvin Moser
0
Churdan
Galva
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Front Row: Jay Lally, Marla Raasch Back Row: Beth Maack,
Sarah Weinbrandt, Becki Berens, Deb Deiber
Ida Grove
Tim Woodward, Joan Nepple, Eric Happe
0
4
Sac City
Front Row: Marty Boyle, Will Riley Back Row: Trish
Niemeier, Janet Graybill, Sue Grieme
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Front Row: Beth Hatch, Hayley Mauer, Cassie Gree
Back Row: Jeff Neubaum, Kellen Jacobson, Shery n, Carol Hansen
l Middleton
Moorhead
Front Row: Linda Schoenherr, Sherry Reiling, Carol Thomson, Robin Thornhill, Val
Georg Middle Row: Dana Phillips, Melissa Jensen, Sandy Ullrich, Tara Ruble, Taylor
Walker Back Row: Anita Whitney, Dan Dotzler, Allen Lansink, Julie Modrell
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Susan Johnson, Rozz
Reimers, Peggy Arch Fundermann, Whitney
er
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Front Row: Janet Schrad, Lois Smith, Sarah Iler Back Row: Dianne Graeve, Arnie
Koeppen, Troy Whipkey, Faye Huster, Alysia Marken
Ida Grove
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er, Lisa Witten, Joe Cutshall, Jeff BueTaylor
Front Row: Brook Boeckman, Clay Mill
s, Kevin
Burn
Jean
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Spo
Jim
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Boy
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Van Kekerix
Middle Row: Sharon Krambeck,
n, Dave Wilken, Todd Schultz, Ken
Back Row: Owen Bolte, Bart Thoreso
Front Row: Sara Block, Devin Landgraf, Kelly
Holtorf, Bob Roby, Sally Wenell, Jolene RastyFeaker Middle Row: Debra
Back Row: Denise Siefken, Paulette Ringgenbe, Christine Sedlacek
rg, Melody Collins
Lake City
y, Nick
Arthur
Deb Fineran, Dennis Johnson, Ardie Buller
Glawe Middle Row: Jessica Burk, Alicia Drury,
Front Row: Monita Kelly, Patti Haack, Lisa Lundell, Angie Wulf, Emily Row: Jenny Steinkamp, Andrea Ulrich, Jeff
Back
Lansink
Laura
Hieber,
Avery
,
Kasey Schwanz, Stephanie Konradi
Ullrich, Theresa Boger, Melonie Petersen, Mary Richardson
ehart, Kim Kerse
Shelly Brus, Daniel Rin
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Miller, Dena An
Rockwell City
en,
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Jessica Neumann, Conn
Sabrena Summerfield
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Baumhover, Bev Schultes
Front Row: Cindy Janning, Joyce Brincks, CindyDawn Baumeister, Brittany
nd,
Middle Row: Christie Haberl, Debbie Niela Nelson, Greg Nessa
Schwartz Back Row: Katie Wall, Jim Friel, Jeff
Shirley Thompson, Jill Bobolz, Craig Moritz,
Heather Gilles, Desiree Roling
Charter Oak
Hope Radke, Jake Heuton, Heather Schoon
Lohrville
Pierson
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Ida Grove
Carroll
Odebolt & Kiron
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naller, Angie Bengford, Brandi Dros
Matt Huegerich, Tami Eck, Neil Sibe
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Carolyn Hoelscher, Magie Qua
Moville
Tanja Shever, Brittany Boyle, Erin
Bose, Steve Rippke, Alissa
Polkinghorn, Jeannie Krueger
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Kingsley
Fort Dodge
Norma Nielsen, Vicki Anstine, Craig Moritz, Jerri Hardie,
Shawn Doran, Susan Petersen
Harlan
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Front Row: Deb Cher, Margaret Cape, Lynne Peterson, Carol Meyer, Bette Habhab
Middle Row: Janice Carlson, Janice Fiala, Jennifer Brandt, Kathleen Meldrem
Back Row: Steve Mileham, Mike Biedenfeld, Kathleen Husske, Kerry Viken, Rich Bahls
Holstein
uck Obrecht
uck, Lee Schoof, Ch
Front Row: Randy Br , Lynne White, Shaila Leuschen,
Back Row: Stacy Ferry
Shirley Arkfeld
Onawa
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Lynette Henry, Sheila Soellner Midd
Front Row: Meg Young, Kallie Voge, ier, Amanda Currie, Nicole Brandt Back
dme
Row: Bridget Drey, Hilary Grun
en Radke, Logan Patterson
Row: Adam Struck, Kiley Todd, Stev
Ida Grove
Front Row: Heather Bellis, Marilyn Struble, Patti
Back Row: Maryjo Skelton, Christine Kennedy, Parks
Brandon
Krapfl, John Streeter, Rochelle Pitt
0
0
Schleswig
Amy Meseck, Ashley Reiser, Alan Weiss, Lila Bubke,
Theresa Beeck
Front Row: Sheryl Wo
Middle Row: Carol Bresnder, Molly Woerdehoff, Marcia Cates
Back Row: Earleen Uh nahan, Teresa Lansink, Marissa Wayt,, Waneta Leege, MaKayla Roeder
l, Greg Burnside, Ad
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Christiansen
am Dreeszen, Asger rissa Skirvin, Kari Siegner
Sepstrup-Sorensen,
Lisa
PRST STD
U.S. Postage
Return Service Requested
PAID
Permit No. 1209
Sioux Falls, SD
501 2nd Street
Ida Grove, IA 51445
Arthur
Carroll
Charter Oak
Churdan
Denison
Dunlap
Fort Dodge
Galva
Glidden
Harlan
Holstein
Ida Grove
Kingsley
Kiron
Lake City
Lohrville
Moorhead
Moville
Odebolt
Onawa
Pierson
Pocahontas
Rockwell City
Sac City
Schleswig
Storm Lake
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www.unitedbk.com
Christmas
Open House
We value the strong personal relationships we’ve built with our customers
and appreciate the loyalty and confidence you’ve placed in us.
Join us as we celebrate with an Open House at all of our UBI locations.
Friday, Þecember 11
10:00 a.m. to 2:00 p.m.
Stop in for refreshments and pick up a 2016 calendar.
We sincerely appreciate your business and look
forward to serving you for generations to come.
0
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0
4
40 k
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Wendy Lorenzen
Emerald Club
Coordinator
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December 11, 2015 • 10:00 - 2:00
Christmas Open House
All United Bank of Iowa Offices
February 2015
Pie Day at the following UBI locations:
Thursday, February 4
Pierson office • 1:00 - 3:00
Thursday, February 11
Denison office • 11:00 - 2:00
Friday, February 12
Schleswig office • 10:00 - 3:00
Wednesday, February 17
Carroll office • 10:00 - 1:00
Moville Fire Station • 1:00 - 3:00
Charter Oak office • 10:00 - 2:00
Thursday, February 18
Kingsley office • 2:00 - 4:00
Moorhead office • 10:00 - 2:00
Tuesday, April 26 or Thursday, April 28
Mystery Trip • (L, D)
Test tubes, beakers, long white coats.
Lots of people taking notes.
Crumpets, scones and pettit fours.
Things you need to make some doors.
Kermit, grass and Christmas trees.
Julia & Jacques’ friend wants to please.
Keep your pinky in the air.
We won’t tell you where, but we’ll take you there.
Depart from Sac City, Lake City, and Rockwell
City on Tuesday, April 26.
Depart from Holstein, Ida Grove, Arthur, and
Odebolt on Thursday, April 28.
$139/person everything included throughout the day
GREAT LAKES ADVENTURE • JUNE 16-24, 2016
Thursday, June 16
Board motor coach, morning
and afternoon break and on
your own lunch stop en route.
Overnight • Comfort Suites
Benton Harbor, MI
Sturgeon Bay, WI. Wine-tasting
at Door Peninsula Winery,
prime rib dinner at a Wisconsin
supper club.
Overnight • Settlement Courtyard
Inn • Fish Creek, WI
Friday, June 17 (B, D)
Explore the largest freshwater
sand dunes in the world in 18
passenger dune buggies. Buffet
dinner will be served at a 1918
European castle.
Overnight • AmericInn
Charlevoix, MI
Wednesday, June 22 (B, L, D)
Tour of Door County and
Bjorklunden Stave Chapel,
filled with wood carvings and
41 fresco paintings. Lunch at Al
Johnson’s Swedish Restaurant
where goats graze on the roof!
Tour of a 1868 Eagle Bluff
Lighthouse and a traditional
Wisconsin fish boil.
Overnight • Settlement Courtyard
Inn • Fish Creek, WI
Saturday, June 18 (B, L, D)
Tour Charlevoix and ‘mushroom houses’. Cross the Straits
of Mackinac aboard a ferry.
Overnight • Island House Hotel
Mackinac Island, MI
Sunday, June 19 (B, L)
Horse-drawn carriage tour
of Mackinac Island. Grand
Luncheon Buffet in the
legendary Grand Hotel.
Overnight • Island House Hotel
Makinac Island, MI
Monday, June 20 (B)
Ranger-guided walking tour
of Tahquamenon Falls, the
largest waterfall between
Niagra Falls and Yellowstone.
Narrated sunset cruise of Lake
Superior and Pictured Rocks.
Overnight • Holiday Inn Express
Munising, MI
Tuesday, June 21 (B, D)
Guided tour of Evergreen
Schoolhouse and Gardens in
Thursday, June 23 (B, L, D)
Tour and lunch at Lambeau
Stadium, Green Bay Packers
field. Fireside Dinner Theatre.
Overnight • Holiday Inn Express
Ft. Atkinson, WI
Friday, June 24 (B)
Stop at a Wisconsin cheese
house and buy cheese not
available in Iowa!
Pricing:
$2,125/person triple or quad
$2,275/person double or twin
$2,825/person single occupancy
$500 due at sign up.
Reservations can be made
by calling or stopping in any
United Bank of Iowa office.
Deadline • April 1, 2016
Departure cities to be
announced
B=Breakfast L = Lunch D=Dinner (Included in price)
REMINDER: We reserve the right to make itinerary and pick-up location changes.
Members can invite a guest to any event or trip except the annual luncheon.
Cancellation Policy: Trip cost is not refundable unless a person is available to take your
place or we are able to get a refund from the supplier.
Member FDIC
0
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As this article is written on Veteran’s
Day, harvest is nearly complete, days
are getting short and the weather today
is reminding us all that winter is not far
away. For many, what a fantastic harvest
it was with yields that were the best ever
for a lot of farmers.
Our article in the fall newsletter talked
about how studies have shown that
over time there is little positive margin
in farming, and the need for improved
marketing and cost control to separate
yourself from average.
We’d like to discuss this a little further.
It’s no secret that even with big crops and
the ARC payment, margins are tight after
seeing a roughly 40% drop in grain prices
from the highs in 2012.
But let’s all be honest, the current
period is closer to the historical normal
for farming than the 2007-2013 period.
So while the pendulum always seems
to swing back too far the other way, the
current environment is probably not that
far from a fairly normal one. So how does
one manage today?
First of all, distinguish between favorable
circumstances and overall management
skill. There are those that seem to have
the knack for when to buy land, when to
buy cattle, when to speculate on the board
of trade profitably, etc. But let’s face it, the
vast majority of people are successful in
business not because they’re one of these
rare breeds, but because they’re good
managers.
If you back out equity gains from nonoperational factors,
factors, such
such as
as inheritances
inheritances
operational
or
other
forms
of
non-farm
income,
those
or other forms of non-farm income, those
who
have
succeeded
in
the
long
run
who have succeeded in the long run
have
done
so
primarily
because
they’re
have done so primarily because they’re
good managers,
managers, both
both in
in terms
terms of
of daydaygood
to-day
management,
achieving
realistic
to-day management, achieving realistic
long-term goals,
goals, and
and understanding
understanding the
the
long-term
balance
between
the
two.
balance between the two.
In terms
terms of
of marketing
marketing we’ve
we’ve all
all heard
heard the
the
In
term
hit
the
“home
run.”
Management,
term hit the “home run.” Management,
as aa whole,
whole, is
is like
like marketing.
marketing. You
You don’t
don’t
as
have
to
hit
the
home
run
to
be
successful.
have to hit the home run to be successful.
In fact,
fact, the
the risk
risk that
that goes
goes with
with one
one big
big
In
decision,
and
its
potential
for
being
decision, and its potential for being aa
make or
or break
break one,
one, can
can loom
loom large.
large.
make
Winter 2015
Rather, consistently sound management
that on average makes a little better
decisions in all facets of the business, is
a proven winner.
Three critical components are proper
planning, monitoring, and urgency.
Planning
One of the planning exercises most will
go through this time of year, as they renew
their line of credit, is the cash flow. Make
sure that you take an active role in this
exercise, not just supply the minimum
amount of information so your lender can
complete one.
Don’t get caught in the trap of being one
of those that uses wishful thinking as your
guide, underestimates expenses, and is
overly optimistic on income. Expenses
should be projected based on well
documented records. History is usually a
pretty good guide.
Monitoring
Regular monitoring is another critical
element that is associated with good
managers. We all know that rarely do
things go exactly as planned, so be
proactive in recognizing where changes
are occurring and when plans needs to be
modified.
Urgency
Finally, there needs to be urgency. Once
you’ve identified that your operation
needs improvement in certain areas, get
busy on an action plan to implement
the changes. Rarely does doing nothing
or doing it too slowly help correct
deficiencies.
k
Yes, it’s
Yes,
it’s no
no secret
secret that
that margins
margins are
are tighter,
tighter,
yet
farming
has
been,
and
will
continue
yet farming has been, and will continue to
to
be, aa great
be,
great industry.
industry. You
You can
can expect
expect our
our
staff to
staff
to help
help and
and challenge
challenge you
you to
to be
be the
the
best
that
you
can
be.
best that you can be.
Have aa Merry
Have
Merry Christmas
Christmas and
and aa Blessed
Blessed
years!
New Year.
New
Year.
Agriculture!
We’re Committed to Agriculture!
Iowa’s
#1 Ag Bank
11
Crop insurance
Crop
insurance has,
has, of
of course,
course, become
become the
the cornerstone
cornerstone of
of risk
risk management
management
for
virtually
every
crop
operation
and
it
was
upsetting
to
for virtually every crop operation and it was upsetting to see
see itit on
on the
the
chopping
block
as
one
of
the
bargaining
chips
for
the
two
year
budget
chopping block as one of the bargaining chips for the two year budget deal
deal
that was
that
was struck.
struck. We’ll
We’ll be
be watching
watching closely
closely to
to see
see ifif the
the cut
cut is
is restored
restored in
in
the
omnibus
appropriations
process
in
December,
as
was
promised
the omnibus appropriations process in December, as was promised to
to farm
farm
state legislators.
state
legislators.