Thank you for visiting First Bank.
You are now leaving our website and entering a website hosted by another party. Please be advised that by continuing you will no longer be subject to the protection of our privacy and security policies. First Bank does not guarantee the experience and content accuracy of the new website you will visit.
We are pleased to present below all posts archived in 'November 2019'. If you still can't find what you are looking for, try using the search box.
Black Friday may still be the biggest shopping day of the year to serious shoppers, but consumers wanting to make an impact on their communities are encouraged to “shop small” the Saturday after. Small Business Saturday is an annual day set aside on the Saturday following the Thanksgiving holiday. During the peak of the holiday shopping season, it can often be hard for small business owners like you to manage the influx of sales, monitor inventory levels, and gauge staffing levels appropriately.
Small Business Saturday – Its impact on the Economy and Small Business Owners
Small Business Saturday first appeared in the holiday shopping scene in 2010. The goal behind this day was to showcase all of the products and services local retailers could offer consumers, to offer support for smaller, family-owned ecommerce shops, and to create awareness of the significant impact small and family-owned businesses have on the economy. Based on the statistics, small to mid-sized businesses, such ...
Cybersecurity and fraud prevention are now essential to every business. The impact of fraudulent activity is staggering. In fact, according to Juniper research, cybercrimes have resulted in $2 trillion in losses in 2019 with an estimated $6 trillion per year by 2021¹. Although businesses of all sizes are not immune, it’s estimated that half of all cyberattacks are made against small-to-middle sized businesses. “Business cybersecurity and fraud schemes are here to stay and, unfortunately, criminals are only getting more sophisticated,” said Jon Moen, CTP, Senior Vice President, Director of Product, and previous Director of Treasury Management for First Bank. “It’s important to be prepared, educate your teams, and invest in the latest technological resources.”
Although there are many fraudulent scams, currently, there are three types impacting businesses at an alarming rate as a result of Business Email Compromise (BEC). These include executive, vendor, and payrol ...
Continuing its fourth generation
of family ownership,
Michael Dierberg serves as
Chairman of the Board at
FB Corporation (First Bank).
You may recall in the 1978 film starring Christopher Reeve, Superman was orphaned as an infant and only learns about his extraterrestrial background later in life when he creates the Fortress of Solitude. Through the help of glowing crystals preserved from his childhood, holographic images of his parents interact with Superman to answer his questions and share the history and culture of his planet, community, and family.
While there is much to the Fortress of Solitude that is beyond our own reach, we too can benefit from a greater connection to and knowledge from those who have come before us. We all have a desire to feel rooted to something meaningful, and can benefit from the wisdom of previous generations.
Whether you are a leader of a company, a parent, or both, you can do a lot for those around you and the nex ...
Objective: To identify the importance of liquidity management from a business perspective, specifically for those businesses with a family-owned and privately-held ownership structure.
Chances are, the majority of the businesses that you purchase goods and services from, as well as many of the restaurants that you frequent on a regular basis, are small to medium sized. With over 64% of the Gross Domestic Product (GDP) currently generated from family-owned businesses in the United States, there’s also a high probability that the business you’re purchasing your goods or services from is a family-owned or privately-held business¹. The bulk of these business owners and leaders would agree that liquidity, or access to readily available cash, in order to fund short-term investments, cover debts, and pay for goods and services, is critical to the long-term success of their business. In fact, it’s consistently cited as one of the top concerns for business owners².
Liquidity r ...
When I ask family-owned and other privately-held businesses about their competitive advantages, one of the most common answers I hear is about their ability to create a great environment for employees to thrive. Often, the culture of the organization is described as having a “family feel” in which employees feel closely connected to their colleagues, more engaged, face less turnover, and can be more nimble in how they anticipate and react to their customers’ needs.
So, how do successful family-owned and other privately-held businesses create great cultures? By playing to their strengths. Such businesses may not have the resources available at larger organizations to help them develop a strong culture, such as large human resource departments to maximize team engagement, and the depth of talented leaders at the top of the company. Yet what they lack in resources, they make up for in other ways.
By MICHAEL DIERBERG, Chairman of the Board, FB Corporation
Security breaches, identity theft, card fraud, ransomware, malware. It's a lot to remember and a lot to pay attention to.
Visit Our Security Center
Would you like to be a part of a growing company that is truly committed to its' employees and clients?
Visit Our Career Center