A flat quarter, a few bright spots, and some pressure points for Midwest businesses For more in depth information regarding this article, download the entire report here. Every few weeks, the Federal Reserve gathers on-the-ground reports from business owners, lenders, and economists across the country and publishes them in the Beige Book. The October 14 edition from the Federal Reserve Bank of Chicago covers the Seventh District, which includes Iowa and most of Illinois, Indiana, Michigan,
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For any business, having adequate cash reserves can make the difference between successfully navigating an unexpected challenge or facing a cash crisis that creates serious financial strain. While profitability is important, cash reserves provide flexibility, stability, and the ability to respond when circumstances change.  Cash Reserves Provide a Financial Cushion Unexpected expenses can arise at any time. A business may face equipment repairs, higher inventory costs, slower customer
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Most of us have gotten pretty good at spotting the obvious scams. The email with the strange address. The text that says you won a prize you never entered to win. The message that somehow needs your immediate attention at 2:17 A.M. But scams are getting more convincing, and protecting your information takes more than spotting a suspicious message. October is National Cybersecurity Awareness Month, making it a good time to look at a few simple habits that can help protect your information and your
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Source: Consumer Financial Protection Bureau with additions made by First Community Bank and Trust. After a disaster, your priority is your own safety. Organizations in your community can provide help and services. Expect help from the companies you use As you recover from a disaster or emergency, you should contact your lenders and companies where you have accounts and ask for help. You might ask for: A way to refinance your existing debts, or new loans with terms that are more realistic
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Severe storms can happen with little warning. A damaged roof, fallen tree, broken windows or other unexpected repairs can quickly turn into a significant expense. When storm damage occurs, your first step should be to document the damage and contact your homeowner’s insurance provider to understand what may be covered. Review your policy’s coverage limits, deductibles and any exclusions or special deductibles that may apply to storm damage. Keeping photos, receipts and repair estimates
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This article was written by GoodTrust and published on February 27, 2023. If you've been thinking about creating a trust or a will, you may be wondering which one is right for you. If you don’t know the answer, rest assured - you’re not alone. As a matter of fact, many people wonder about this when starting their estate plan. The truth is, it depends on your individual circumstances. Wills vs. Trusts You can plan for your estate with both a will and a trust but they each
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This blog post was published by Chris O’Shea from SavvyMoney. Practical tips that help you manage debt. Getting out of debt can feel overwhelming—but it doesn’t have to be stressful or all-consuming. With a clear plan and a few intentional changes, you can make steady progress without adding more stress to your life. Here are some steps to take. Start with Awareness Before you can fix the problem, you need to understand it. The first step to getting rid of debt is to
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For many business owners, financing becomes a priority only when an opportunity or need is right in front of them. Maybe new equipment is needed for a particular job, or a dealer is offering attractive pricing to move inventory. Or perhaps cash flow becomes tight because a receivable you expected to collect remains on the books and has not yet been converted to cash. This reinforces a common theme advocated by many community bankers: talk to us before you need the money. By planning ahead, your
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The U.S. Department of Treasury originally published this article on December 23, 2025. The following recommendations are non-binding guidance. All must comply with otherwise applicable restrictions. Frequently Asked Questions: Businesses Why is penny production being suspended? Over the past 10 years, the total production cost of the penny has risen from 1.3 cents to 3.69 cents per penny. These production costs include materials, facilities, and overhead. The U.S. Mint projects an immediate
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This article was published by Freddie Mac and last reviewed on January 13, 2026. As a homeowner, maintaining your home is an important responsibility. Timely maintenance, repairs and improvements help protect your home, provide your family with greater comfort and even enhance your home's value. Maintaining your home can also help you avoid costly problems later on. Once you move in, it's a good idea to set aside part of your monthly budget toward savings that could go to your home
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