Every year on August 14, National Financial Awareness Day encourages individuals to take control of their financial well-being. It’s a day to reflect, reset, and make informed choices that help you reach your money goals whether that means finally starting a budget, reviewing your credit, or simply checking your bank accounts more often. No matter where you are on your financial journey, here are five practical, meaningful ways to boost your financial awareness today and set yourself up
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This blog post was published by Jean Chatzky, with reporting by Casandra Andrews, both from SavvyMoney and commenting by Wendy Hoekstra, Vice President – Retail Lending from First Community Bank and Trust. Understanding Private Mortgage Insurance in the U.S. Plan ahead: Thinking of buying a home in the next few years? Set up a meeting with Wendy Hoekstra, Vice President – Retail Lending at First Community Bank and Trust to get an idea of how much you’ll need to save to
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How does a phone call look like it’s coming from the bank, when in reality, it’s not? Scammers commonly use software, both free and paid, to exploit VoIP (Voice over Internet Protocol), allowing them to manipulate the caller ID to display any number they choose. Often times, the local number exchanges (708) 946 or (708) 258 are used to increase the chances of the recipient picking up. In some cases, the software can even alter the caller ID display name, like First Community Bank and
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For more in depth information regarding this article, download the entire report here. What is the Beige Book? The Beige Book is a Federal Reserve System publication about current economic conditions across the 12 Federal Reserve Districts. It characterizes regional economic conditions and prospects based on a variety of mostly qualitative information, gathered directly from each District’s sources. Reports are published eight times per year. What is the purpose of the Beige Book? The
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Cash flow is important for every business, regardless of how profitable it may look on paper. A monthly or quarterly profit & loss statement might show positive earnings, but that doesn’t always translate to available cash. The real challenge is having the liquidity to cover day-to-day obligations like payroll, fuel, utilities and rent. What if your company is short on cash to pay for these short-term expenses? These obligations need to be paid in a timely manner in order to avoid any interruption
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Press Release: Beecher, IL. (June 27, 2025) - First Community Bank and Trust, a trusted and locally owned financial institution serving families and communities since 1916, has announced a new partnership with GoodTrust, a leader in smart digital estate planning services. This collaboration brings cutting-edge estate planning tools directly to First Community Bank and Trust customers, enabling them to safeguard their family, assets, and legacy with ease and confidence. Through this partnership,
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Press Release: Beecher, IL. (June 2, 2025) - In recognition of National Homeownership Month, First Community Bank and Trust (FCBT) and the Independent Community Bankers of America (ICBA) are encouraging consumers to consult their local community banker to make the homebuying process, simple, efficient and more affordable. “An important component in building financial independence is owning a home,” said Wendy Hoekstra, Vice President – Retail Lending. “At First Community
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This is the Executive Summary of U.S. Economic and Regulatory Highlights from the Experian Commercial Pulse: Small Business Insights for May 2025. For more in depth information regarding this article, download the entire report here. The advance estimate for Q1 2025 GDP showed the U.S. economy shrunk at an annual rate of 0.3%, a drop from the 2.4% growth recorded in Q4 and marking the first contraction since Q1 2022, as imports surged ahead of anticipated new tariffs being imposed. Q1 GDP grew
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If you are a business owner and have applied for a loan, you have likely been asked by your lender to submit business financial information and personal financial information. The business financial information can come in the form of prior year tax returns and business financial statements prepared by the accountant. Personal financial information can be personal tax returns and a personal financial statement. The personal financial statement will ask about the individual’s assets and any
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Press Release: Beecher, IL. (May 6, 2025) — First Community Bank and Trust (FCBT) and the Independent Community Bankers of America (ICBA) encourage Americans to reinvest in their local community by shopping with small businesses during National Small Business Week, May 4-10, 2025. Small businesses account for two out of every three jobs added to the economy.  “At the center of our commitment to fostering local prosperity is empowering small businesses,” says Cameron Ohlendorf,
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