Q: “What can your business do to combat check fraud”?
“With Positive Pay we create a proactive approach to eliminating check fraud. Positive Pay allows you to electronically upload your check register to American Bank. We will match the items presented for payment to those issued according to your check register and only pay the checks listed to the precise specifications you indicate. Items that do not match are sent to you for verification before they clear your account. So, you only need to look at the items that don’t match the check register. Reduce fraud, save time and money and put yourself in control”.
— Amy Lynch, AAP, Manager - Treasury Management Services
Q: My child is 16 and has his first job. Can he open an account with the bank?
"Yes, he can open a savings account to receive payroll by direct deposit and access the money in his savings account by taking a withdrawal at the bank or at an ATM with an ATM card. A savings account will also enable him to deposit and cash paper checks."
— Peggy Zickert, Banking Officer, Customer Service Department
Q: " Where do I make my mortgage payments?"
“This is a question I get frequently. One of the benefits of having your mortgage loan with American Bank is that we service our loans. For you, our customer, that means your loan will not be sold to another lender and you can make your payment at any of our offices or even online. Local servicing, another added convenience of working with American Bank for your home loan needs."
— Victoria Andes, Mortgage Loan Originator, NMLS #447073
"Some helpful information to bring with you and that will help save some time in the application process include:
-Social Security number and driver's license information for all applicants
-Your W-2's from the previous year
-2 recent paystubs with detailed earnings information
-Copies of checking and savings account statements for the past 2 months
-If self employed, 2 years tax returns of personal and corporate income taxes
We can complete the application together and contact you with an answer! Give me a call today!"
— Kimberly Klaetsch, Mortgage Banking Officer, NMLS#634586
Q: When is the right time for my business to purchase a building?
Investing in a building is a difficult decision for many business owners and should be considered carefully. Typically, purchasing real estate for a business is part of a long term strategy. Owning real estate allows a business owner to build equity and increase net worth instead of just paying rent to someone else. Some factors to consider are: What are your plans for growth? Does one location allow you to grow or do you need multiple locations? Does the size of the building you are buying allow for growth or will a building expansion be necessary? Another consideration for long term strategy is the ability to sell your business, but not the real estate, which may provide a source of income for retirement.
In the end, you must decide if investing your capital in real estate will provide the best return on your investment and assist in your long term strategy for growth. Also, don't forget to get your accountant and attorney involved in your decision-making process.
Stop by any of our locations and talk with a commercial lender today!
— Randy Lorenz, Vice President Commercial Lending, NMLS#1263633