Family-Owned and Closely-Held Retreat Reflections

Recently, David Fritz and Pat Marget were panelists at the Wisconsin Bankers and Illinois Bankers Association’s Family-Owned and Closely-Held Bank Strategic Retreat held in Madison, Wisconsin.  The discussions with the banks that identify as closely-held and/or family-owned focused on the challenges of transferring ownership to the next generation if proper estate planning and succession planning… Read more »

VIDEO: Are BOLI Yields Competitive?

David/Pat, BOLI Yields (canva.com) BOLI yields have remained competitive to other bank investments partly due to the tax-free build-up of BOLI earnings.  The yields on BOLI products have been attractive, and has sustained their competitiveness during the low interest rate environment we’ve experienced for the last several years.  Learn more in our video!

Video: What is BOLI?

EBN is answering some commonly asked questions on Bank Owned Life Insurance (BOLI), starting with the basic question of What is BOLI? BOLI is the purchase of a single premium permanent life insurance policy that is owned by the bank and generally issued on the lives on key bank employees and directors. Watch the short… Read more »

Celebrating 20 Years!

EBN is celebrating 20 years in business!! Thank you to our clients who trust us to provide service and plans that fit your needs, to our employees who go above and beyond to assist our clients, and to the different organizations that allow us to partner together to provide “Knowledge You Can Bank On.” We look forward to… Read more »

2021 COLA Numbers

The 2021 Cost of Living Adjustments for various qualified retirement plans and other amounts have recently been released by the Internal Revenue Service. The numbers have been updated based on IRS Notice (2020-79). The change in the employee benefit plan limitations is due to an increase in the Cost of Living Index meeting the statutory thresholds…. Read more »

Factors in Choosing the Top-Hat Group

Determining Who is in the Select Group In today’s market there is a strong focus to recruit, retain and reward your key executives.  To accomplish this, companies are implementing Top-Hat plans known as Nonqualified Deferred Compensation (NQDC) plans that are “unfunded” and maintained by the employer.  Top-Hat plans are exempt from the Employee Retirement Income… Read more »