On January 19, EBN had the opportunity to spend the morning volunteering with Prevent Blindness Wisconsin. As a team we did vision screening for 241 children at a local Milwaukee Elementary School and referred 93 students to further vision care. We had a fun morning as a team and always enjoying partnering together.
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 »
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!
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 »
Each year, there is an increasing amount of Bank Owned Life Insurance (BOLI) purchased in the United States. BOLI is life insurance owned by the bank and issued on the lives of bank employees and directors. According to the FDIC, in 2021, 66% of all US banks owned BOLI. Listed below are the primary reasons… Read more »
On Monday, October 18, EBN had the opportunity to volunteer for the Hunger task Force Farm in Franklin, Wisconsin. We learned so much about the Hunger Task Force and all that they provide for the Community. We were grateful to help such a great Organization. We spent the afternoon washing over 1,500 pounds of collard greens!
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 »
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 »
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 »
Take a Look at BOLI 2020 has seen a significant drop in interest rates with several cuts by the Fed over the past several months. While these dramatic steps work to ward off an economic recession, it is also creating major issues on bank margins by shrinking yields on the short-end of the yield curve…. Read more »