A health savings account (HSA) is similar to a personal savings account, but it can only be used for healthcare expenses. You must be enrolled in a high-deductible health plan to be eligible for an HSA. They have become an increasingly popular option for people seeking to manage their healthcare costs, and they also work as a tax-advantaged savings tool.
Read more ...As prices rise on gas and goods, hotels and airfare are climbing alongside them, and many people’s budgets are getting tighter. You might be wondering how you can justify getting out and taking a vacation this summer. But there are plenty of ways to plan a vacation that fits your lifestyle and will keep you on track to meeting your financial goals.
Read more ...First Independent Bank, Russell MN, and Citizens State Bank of Tyler, Inc., announced the signing of an agreement to merge. Completion of the transaction is scheduled for May 31, 2022.
Read more ...We are excited to introduce two new bankers who have joined our team through the merger with United Southwest Bank!
Read more ...We know that cash flow rises and falls when it comes to your business. Sometimes a commercial loan is what you need to move your business forward, whether that’s so you can hire more employees, make improvements to your store, or buy new equipment.
Read more ...In the current hot housing market, many people are thinking about buying homes that need some work. But is buying a fixer-upper right for you? Here are the pros and cons of buying a house that needs renovations.
Read more ...Did you know that 25% of all farmers are beginning farmers (in business less than ten years); their average age is 46 (source: Farm Bureau). In Minnesota, we rank fifth in the nation in agricultural production, and our top five agricultural commodities are soybeans, corn, livestock products, wheat, and processed vegetables.
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Knowing your home buying budget and the loan amount you will qualify for is an important part of the search process when you’re in the market for a new home. That’s where mortgage preapproval comes in. Getting preapproved for your mortgage can help give you confidence and show you are a serious buyer in a competitive housing market.
Read more ...On February 8th, 2022, the Board of First Independent Bank elected Thomas Koerber as President. Tom has currently been serving as Executive Vice-President and Chief Credit Officer. He has been in banking since 1987, with First Independent since 2017, and served as Chief Credit Officer of First Independent Bank’s sister Bank, Northview Bank, from 2005-2017.
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To make the best decision when evaluating whether to buy or lease ag machinery for your operations, it’s essential to understand the factors affecting the economics and compare the financial aspects of each option.
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