SouthStar Bank, Author at SouthStar Bank, S.S.B.

by SouthStar BankNovember 19, 2025

Saving For Retirement in Your 30’s: The IRA Advantage

Your 30s are often marked by major financial milestones, such as buying a home, starting a family, and advancing your career. With so many competing priorities, saving for retirement can easily slip down the list. Still, this decade of your life is actually one of the most important times to focus on your financial future! An Individual Retirement Account (IRA) can be a great way to help you build long-term security without requiring a significant investment upfront. Why Your 30s Matter for Retirement Planning By your 30s, you’ve likely settled into your career and are earning more consistently than in your early 20s. This will give you a unique advantage while retirement planning: time plus earning power. Every dollar you save now can grow for decades through compound interest, making it much easier to reach your retirement goals later. Starting early doesn’t just mean more savings; it means flexibility. A solid retirement foundation can give you greater freedom to handle life’s surprises and make future decisions with confidence. The IRA Advantage An IRA is one of the most effective tools for retirement savings because it offers tax benefits, flexibility, and control over investments. Even if you already contribute to a workplace retirement plan, an IRA can help you build additional savings on your own terms. There are two primary types of IRAs to consider: Traditional IRA: Contributions may be tax-deductible, which can lower your taxable income today Investments grow tax-deferred Qualified withdrawals in retirement are taxed as ordinary income Pay taxes when you withdraw the funds in retirement, ideally at a lower tax rate Roth IRA: Contributions are made with after-tax dollars Investments grow tax-free Qualified withdrawals in retirement are completely tax-free. Great option for younger earners who expect their income (and tax rate) to rise over time. For 2025, the IRA contribution limit is $7,000 (or $8,000 if you’re 50 or older). Even small, consistent contributions can make a significant difference. Get Started with SouthStar Bank Your 30s are the perfect time to take control of your retirement strategy. With an IRA from SouthStar Bank, you can turn today’s small steps into tomorrow’s financial independence. Visit your local SouthStar Bank branch or explore our IRA options online to start building lasting retirement security, one wise decision at a time. Whether you’re opening your first IRA or looking to roll over an existing account, SouthStar Bank offers personalized guidance and local service to make the process simple and stress-free! Have any questions? Reach out to our IRA experts at 512.384.3948 or IRA@southstarbank.com, and they will be happy to assist!

Mortgage Lending

by SouthStar BankNovember 10, 2025

SouthStar Bank Mortgage Programs: Helping Texans Achieve Homeownership

For more than a century, SouthStar Bank has been helping Texans achieve their dreams of homeownership through personalized service, flexible financing, and local decision-making. Whether you’re buying your first home, upgrading to your forever home, or refinancing an existing mortgage, SouthStar Bank’s local experts are here to help you find the right loan for your needs! Personalized Mortgage Solutions with a Local Touch At SouthStar Bank, we treat every loan as more than a transaction; we treat it as a relationship. As a community bank with deep Texas roots, SouthStar Bank’s mortgage professionals take the time to understand your needs, identify the best loan program for you, and guide you through every step of the homebuying process. With underwriting decisions made locally, borrowers benefit from faster approvals and genuine customer care you won’t find with larger national lenders. A Range of Mortgage Options for Every Buyer SouthStar Bank offers a variety of home loan programs to serve a wide range of borrowers: Conventional Loans: Ideal for buyers with strong credit and established savings, offering competitive rates and flexible down payment options. VA Loans: Exclusively for qualified veterans, active-duty military, and surviving spouses, VA loans offer zero down payment options and no private mortgage insurance (PMI). ITIN Loans: Specifically designed for those pursuing homeownership without a Social Security Number. Jumbo Loans: For luxury properties or higher-priced homes that exceed conventional loan limits, SouthStar Bank provides customized jumbo loan solutions. Rural Living Loans: Available for customers looking for something more than a postage-stamp lot and big-city congestion. Refinance: Refinancing options as rates change Lot and Construction Loans: Funding options from raw land to construction and permanent mortgage financing Empowering First-Time Homebuyers Buying your first home can feel overwhelming but with SouthStar Bank, it doesn’t have to be. The H.O.P.E. Home Loan Program is designed to make homeownership more accessible, affordable, and less intimidating. H.O.P.E. Loan Advantages: No downpayment required No mortgage insurance (PMI) requirement No origination fees No SouthStar Bank closing costs While first-time buyers get to take advantage of low-down payment options, down payment assistance, and competitive fixed-rate loans tailored to fit their budget. They also get access to SouthStar Bank’s expert loan officers, who offer local expertise, one-on-one guidance, education on credit requirements and loan terms, and what to expect at closing. Start Your Homeownership Journey Today Whether you’re just starting to explore homeownership or ready to apply for a mortgage, SouthStar Bank is here to help you every step of the way. With local expertise, flexible loan options, and a commitment to putting people first, SouthStar Bank is more than a lender, it’s your homebuying partner. Ready to get started? Contact your local branch or start your application today!

Employee News

by SouthStar BankNovember 4, 2025

Welcome Blake Anderson

Blake Anderson, Assistant Vice President of Lending & Portfolio Manager | SouthStar Bank Georgetown Blake Anderson has joined the SouthStar Bank Georgetown team as an Assistant Vice President of Lending and Portfolio Manager. Blake has five years of experience in the banking industry and specializes in Portfolio and Secondary-Market loans. Being a part of such an important milestone in people’s lives has given Blake a love for his profession. Helping them understand their options, feel confident in their decisions, and finally get the keys to their new home is one of the most fulfilling parts of Blake’s position. Having been born and raised in Georgetown, Blake looks forward to joining the SouthStar Bank team and giving back to the community that shaped him. His deep Georgetown roots have taught him the importance of local relationships, and he looks forward to helping customers and local businesses thrive and grow! Outside of work, Blake enjoys golfing, watching baseball, or walking the Georgetown Square. He has also become involved in the community, serving as Co-Founder and Vice President of a BNI Group called Ultra Hospitality, which focuses on networking with other local professionals and businesses. Blake also co-founded a run club in Georgetown, a testament to his commitment to keeping the community connected. Welcome to the team, Blake! NMLS# 2237200

Employee News

by SouthStar BankNovember 3, 2025

Welcome Angela Sanchez

Angela Sanchez, Assistant Vice President of Lending | SouthStar Bank Harker Heights Angela Sanchez joins SouthStar Bank Harker Heights as an Assistant Vice President of Lending. Angela brings a wealth of experience, having spent more than 2 decades in the banking industry. Leveraging her expertise and experience, Angela delivers innovative financial solutions that meet her clients’ complex needs while upholding risk management standards. By establishing genuine, long-term relationships with both new and existing clients, she consistently uncovers new lending opportunities that drive growth and customer satisfaction. Angela’s commitment to exceptional service has earned her clients’ confidence and loyalty over the years. She finds joy in helping clients identify the right loan for their needs, not only now, but in the years to come! In her role, Angela looks forward to contributing to SouthStar Bank’s strong reputation for personalized service and community-focused banking. Joining a team that values both innovation and relationship building aligns perfectly with her approach to lending. Angela is eager to apply her experience in developing creative financing solutions, deepening client relationships, and helping the bank continue to grow. Angela is consistently active in community service initiatives that promote local development and support those in need. She dedicates time to mentoring emerging small business owners, guiding them to build a strong foundation for growth and sustainability. Additionally, Angela contributes to the planning and marketing of community food and toy drives, ensuring these efforts effectively reach and benefit local families. When she finds time to herself, Angela enjoys spending time with her family and friends and staying active outdoors. Welcome to the team, Angela! NMLS# 452289

Employee News

by SouthStar BankOctober 21, 2025

Welcome Eric Jon Simmons

Eric Jon Simmons, Vice President of Lending | SouthStar Bank Harker Heights Eric Jon Simmons has joined the SouthStar Bank Harker Heights team as a Vice President of Lending. Eric Jon holds more than two decades of experience in the finance industry developing a diverse expertise including Mortgage Originations, Sales Leadership, and Call Center Management. Eric was educated at Central Texas College in Broadcast Journalism and received additional education specific to Real Estate and Insurance. In his career, Eric Jon has successfully originated loans across both the wholesale and retail sectors. He finds great joy in helping clients on the verge of realizing their dreams. As a home loan expert, Eric Jon dedicates himself to helping families identify the ideal loan that aligns best to their unique needs as they embark on their homebuying journey. Eric Jon is eager to make a positive impact within the community and join a team that also prioritizes its communities. Outside of work, Eric Jon enjoys giving back to the Refuge Corporation (Mobile Food Pantry) through Christian House of Prayer Ministries in Killeen, TX, competing in Barbeque Competitions, Hiking and enjoying Dallas Cowboys and UT Longhorn Football! Welcome to the team, Eric Jon! NMLS# 741375

Retirement, Savings, Self-Directed IRA

by SouthStar BankOctober 15, 2025

Common Mistakes Made with Self-Directed IRA Accounts (SDIRAs)

A Self-Directed IRA (SDIRA) can be a powerful tool for those looking to diversify their retirement portfolio beyond traditional stocks and bonds. With the freedom to invest in real estate or other qualifiable assets. A Self-Directed IRA offers greater control, but also greater responsibility. Without proper guidance, it’s easy to make costly mistakes that can lead to penalties or even disqualification of your IRA. Here are five common mistakes consumers make with Self-Directed IRAs—and how you can avoid them. 1. Engaging in Prohibited Transactions One of the most common (and serious) mistakes is violating the IRS rules around prohibited transactions. These include buying or selling assets between your IRA and “disqualified persons”—such as yourself, your spouse, parents, children, or any entities they control. For example, you can’t use your Self-Directed IRA to buy a property that you or a family member lives in. Doing so could disqualify your entire IRA and trigger heavy taxes and penalties. Please abide by IRS guidelines to avoid prohibited transactions. 2. Failing to Understand IRS Rules and Compliance Unlike traditional IRAs, Self-Directed IRAs require you to stay informed about compliance regulations. The IRS has specific rules about valuation, recordkeeping, and annual reporting. If you fail to provide accurate valuations or don’t maintain proper documentation, your account could fall out of compliance. Checkbook style IRAs allow account holders flexibility, but it is your responsibility to ensure your investments remain compliant and properly reported. 3. Overlooking Due Diligence on Investments Because Self-Directed IRAs allow investment in nontraditional assets, the burden of research falls squarely on the account holder. Unfortunately, this can lead to investing in high-risk or fraudulent opportunities. Before committing your retirement funds, thoroughly vet each investment opportunity. Review financial statements, verify ownership, and assess long-term viability. If something seems too good to be true, it often is. 4. Neglecting Liquidity Needs Self-Directed IRAs often hold illiquid (cannot be sold or exchanged quickly) assets like real estate or private equity. While these investments can yield strong returns, they can also create challenges when it’s time to take required minimum distributions (RMDs) or cover unexpected expenses. It’s important to maintain some liquid assets within your IRA to ensure you can meet obligations without forcing the flash sale of long-term investments. 5. Doing It Alone Without Professional Guidance Managing a Self-Directed IRA can be complex. From IRS compliance to asset management, there are many moving parts that can trip up even seasoned investors. Working with your SouthStar Bank experts can help provide some oversight and structure needed to keep your account on track. At SouthStar Bank, we believe that every customer deserves the freedom to shape their financial future, without unnecessary risk. Whether you’re exploring real estate investments or diversifying your retirement portfolio, our experienced team can help guide you through the process with personalized support and trusted service. Have any questions? Ready to start your SDIRA journey? Contact your SouthStar Bank IRA experts today at 512.384.3948 or IRA@southstarbank.com. SouthStar Bank does not provide tax, legal or investment advice. […]

Savings

by SouthStar BankOctober 9, 2025

Savings Accounts for Kids: Benefits of Opening a Savings Account for Your Child

When it comes to teaching kids about money, starting early makes all the difference. One of the best tools parents in Texas can use to help their children build a strong financial future is a child savings account. At SouthStar Bank, we believe in making banking accessible, educational, and rewarding for families. Opening a savings account for your child provides long-term benefits that extend far beyond simply setting money aside; it lays the foundation for lifelong financial responsibility. 1. Building Financial Literacy from an Early Age A child savings account provides kids with a hands-on opportunity to learn about money management. By watching their balance grow with each deposit, children start to understand the value of saving and the rewards of patience. This type of financial literacy is a skill they’ll carry into adulthood. 2. Teaching Goal-Setting and Responsibility Whether your child is saving for a new bike, a college fund, or simply learning to save, having a dedicated account makes their goals more tangible. A child savings account helps children see the connection between discipline and rewards. Each deposit reinforces responsibility and encourages positive financial habits that will benefit them for years to come. 3. A Safe Place to Grow Savings Unlike a piggy bank or cash tucked away at home, a savings account at SouthStar Bank offers safety and security. Funds are federally insured, providing parents with peace of mind as their child’s savings steadily grow. 4. Strengthening the Parent-Child Connection Opening a savings account together provides a shared experience for parents and children. Visiting your local SouthStar Bank branch to make deposits or track balances online can turn into valuable teaching moments. These experiences help kids feel proud of their financial accomplishments while allowing parents to guide them every step of the way. 5. Preparing for the Future From school expenses to college tuition, savings can play a critical role in a child’s future. A child savings account at SouthStar Bank makes it easier to plan for the future. Starting small today can create a foundation for future financial stability, helping children be better prepared for the responsibilities of adulthood. 6. Local Support You Can Count On As an actual Texas bank with 105 years of experience in our communities, SouthStar Bank is dedicated to serving families with Southern hospitality and a personal touch. Our team makes it easy for parents to open an account, explain savings to their children, and keep the process stress-free. We take pride in being more than just a bank; we’re your partner in building a brighter financial future for your family! Opening a child savings account with SouthStar Bank is more than a financial step—it’s an investment in your child’s future. From building strong money habits to providing a safe place for savings to grow, the benefits are lifelong. Visit your nearest SouthStar Bank branch today to get started and give your child the gift of financial confidence.

Business, Commercial, SBA

by SouthStar BankSeptember 30, 2025

SBA Loans Explained: Which Option is Right for Your Business?

For many entrepreneurs, access to the right financing is the key to growing and sustaining a successful business. Whether you’re looking to expand, purchase equipment, or buy commercial real estate, the U.S. Small Business Administration (SBA) offers several loan programs to support small business owners. At SouthStar Bank, we’re proud to be an SBA-Preferred Lender, which enables us to approve loans in-house and streamline the process. If you’re searching for SBA loans in Texas, our team is here to help guide you toward the program that best fits your needs. SBA 7(a) Loan Program The SBA 7(a) Loan is the most popular and flexible option available to small businesses. With loan amounts up to $5 million, it can be used for a wide range of purposes, including: Debt consolidation Equipment purchases Working Capital Business acquisition Commercial real estate purchases or construction The extended repayment terms, often ranging from 10 to 25 years, make the SBA 7(a) loan a powerful tool for business owners seeking to manage cash flow while pursuing growth. SBA Express Loan The SBA Express Loan offers a faster approval process, with a more limited underwriting scope; however, this varies from lender to lender based on internal processes. While similar to 7(a) loans, Express Loans have a maximum loan amount of $500,000, but similar uses and terms are available. This program supports a Revolving Line of Credit option. This program is ideal for Texas small businesses needing quick access to working capital or short-term financing opportunities. The SBA Express Loan combines speed with flexibility, giving you the funds to seize opportunities when they matter most. SBA 504 Loan Program SBA 504 Loans provide financing for owner-occupied commercial real estate and equipment, which are considered fixed assets for expansion and modernization. More specifically, this includes: Purchasing existing buildings Acquisition of land Ground-up construction Financing building improvements Equipment acquisition Refinance and cash-out opportunities (that meet program requirements) As such, they offer long-term, fixed-rate financing at below-market rates. This type of loan requires a minimum down payment of 10%. An SBA 504 Loan promotes business growth and job creation by expanding capital access. This specialized program brings two separate lenders together – in this case, SouthStar Bank and a Certified Development Company (CDC). CDCs are nonprofit corporations dedicated to promoting economic development within their communities. Other SBA Loan Options Beyond the 7(a), Express, and 504 programs, the SBA also offers additional options to meet specialized needs: CAPLines: Revolving lines of credit for working capital. Export Loans: Support for businesses expanding into international markets. Microloans: Up to $50,000 for startups or smaller capital requirements. Disaster Loans: Assistance for businesses recovering from declared disasters. NEW– Manufacturers Access to Revolving Credit (MARC) These programs can provide targeted solutions for unique challenges faced by Texas business owners. Partner with Your Local Experts at SouthStar Bank Choosing the right SBA loan depends on your goals, timeline, and financing requirements. As a trusted SBA-Preferred Lender, SouthStar Bank has the expertise and authority to help you secure funding […]

Retirement, Savings

by SouthStar BankSeptember 18, 2025

Retirement Plans for Your Small Business: SEP and SIMPLE IRAs

Running a small business means wearing many hats—managing operations, building client relationships, and keeping your team motivated. One of the most important responsibilities is finding the right retirement plan for your small business. While large corporations often offer 401(k) plans, small business owners may find SEP and SIMPLE IRAs to be cost-effective, flexible retirement solutions. At SouthStar Bank, we’re committed to helping Texas business owners build strong financial futures. Here’s what you need to know about SEP and SIMPLE IRA options for small business owners. What Is a SEP IRA? A Simplified Employee Pension (SEP) IRA is designed for self-employed individuals and small businesses. It’s one of the easiest retirement plans to set up and maintain, offering high contribution limits and tax advantages. Key Benefits of a SEP IRA: High contribution limits: For 2025, you can contribute the lesser of either 25% of the first $350,000 of an eligible employee’s compensation or $70,000. Employer-funded: Only the employer makes contributions, which can vary each year depending on cash flow. Tax advantages: Contributions are tax-deductible, reducing taxable income for your business. Easy setup and administration: Minimal paperwork and no annual IRS filings make SEPs highly suitable for small businesses. A SEP IRA is a wise choice for solo entrepreneurs or business owners who want flexibility in contributions while keeping administrative costs low. What Is a SIMPLE IRA? A Savings Incentive Match Plan for Employees (SIMPLE) IRA is another excellent retirement option for small businesses, especially those with fewer than 100 employees. Unlike SEP IRAs, SIMPLE IRAs allow both employers and employees to contribute. Key Benefits of a SIMPLE IRA: Employee participation: Employees can make salary deferral contributions, encouraging them to save for retirement. Employer match or contribution: Employers must either match up to 3% of employee compensation or make a 2% non-elective contribution. Lower contribution limits than SEPs: For 2025, employees can contribute up to $16,500, with an additional $3,500 catch-up contribution for those 50-59 and 64 or older. Catch-up contributions for those ages 60-63 are $5,250. Tax savings: Employer contributions are tax-deductible, and employee contributions are made pre-tax. SIMPLE IRAs are ideal for small businesses that want to offer retirement benefits as a tool to attract and retain talent. Which IRA Is Right for Your Business? Choosing between a SEP IRA and a SIMPLE IRA depends on your business size, goals, and budget. If you’re self-employed or have just a few employees, a SEP IRA offers flexibility and higher contribution limits. If you want to encourage employees to contribute to their own retirement while providing a company match, a SIMPLE IRA may be the better fit. Partner with SouthStar Bank At SouthStar Bank, we understand that small business owners need retirement solutions that are both practical and rewarding. Our IRA experts are happy to help you explore IRA options and determine the best retirement plan for your business and employees. Ready to take the next step? Have any questions? Contact your SouthStar Bank IRA experts today at 512.384.3948 or IRA@southstarbank.com.

Employee News

by SouthStar BankSeptember 16, 2025

Congratulations Kimberly Moore

Kimberly Moore, Vice President & Branch Manager | SouthStar Bank Shiner Kimberly Moore has been promoted to Vice President and Branch Manager of the SouthStar Bank Shiner branch. Kimberly has accumulated more than two decades of experience with SouthStar Bank, most recently serving as BSA and AML-CMT Officer, a vital role in fraud prevention and consumer protection. In her new role, she looks forward to being in front of the customers she has dedicated so much time to protecting, as well as engaging further with the community as a whole! An active community advocate, Kimberly is involved in several local organizations, serving as Vice President of Shiner ISD PTO and the Shiner Band Boosters, as well as volunteering with a local Girl Scout Troop and the Shiner Junior Livestock Show. When she finds time for herself, she enjoys spending time with her friends and family, attending family gatherings and sporting events, as well as supporting her children and all their endeavors. Kim is also never opposed to a cruise or a spontaneous day trip! Congratulations Kimberly!