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Author: SouthStar Bank

Posted in Savings
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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.

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Posted in Business, Commercial, SBA
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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 […]

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Posted in Retirement, Savings
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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.

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Posted in Employee News
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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!

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Posted in General Education
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The Benefits of Community Banking With SouthStar Bank

When choosing where to bank, consumers have more options than ever, ranging from large national chains to digital-only institutions. But for those who want personalized service, local decision-making, and a financial partner invested in their success, community banking is the clear choice! At SouthStar Bank, we have proudly served Texas communities for more than a century, blending modern financial tools with the warmth of traditional, hometown service. What Is Community Banking? Community banking means putting people first. Unlike big banks focused on national markets, community banks in Texas like SouthStar Bank are locally owned, locally managed, and committed to reinvesting in the neighborhoods we serve. This approach not only benefits individual customers but also strengthens local businesses and the overall economy of the communities they serve. Personalized Service and Trusted Relationships At SouthStar Bank, customers aren’t just account numbers; they’re our neighbors. Our bankers take the time to understand your goals, whether that’s buying your first home, saving for retirement, or growing a small business. By offering customized financial solutions, we ensure you have the tools and support you need to succeed. This relationship-driven approach is one of the key advantages of using a community bank over big national banks. Local Decision-Making for Faster Results One of the most important benefits of using a local Texas bank is that decisions are made right here in the community. At SouthStar Bank, loan approvals and account services aren’t tied up in distant corporate offices. Instead, you’ll work directly with people who know the local market and can move quickly to help you. For small businesses, this flexibility is crucial. As an SBA Preferred Lender, SouthStar Bank provides streamlined access to funding, enabling Texas small businesses to thrive. Supporting Texas Communities When you choose SouthStar Bank, your money stays close to home. We proudly reinvest in the places we serve, funding local businesses, creating jobs, and supporting community events. Unlike large national institutions, community banks measure success not just by numbers but by the positive impact we make on our neighbors. By banking locally, you help build stronger communities across Texas. Modern Technology with a Personal Touch Community banking doesn’t mean outdated banking. SouthStar Bank combines modern financial tools with hometown service. With mobile check deposit, online banking, and secure digital access, you’ll enjoy the same conveniences as a big bank with the added benefit of having a trusted local banker just a call or visit away. Why Bank with SouthStar Bank? Choosing SouthStar Bank means choosing: A Texas community bank with over 100 years of service Personalized financial guidance tailored to your needs Faster, local decision-making SBA Preferred Lender advantages for small businesses A strong commitment to supporting Texas communities At the end of the day, banking isn’t just about managing money; it’s about relationships, trust, and community. Experience the personalized, local service you deserve by contacting your local branch today!

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Posted in Employee News
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Welcome Rosie Weaver

Rosie Weaver, Assistant Vice President & Branch Manager | SouthStar Bank Steiner Ranch Rosie Weaver has joined the SouthStar Bank Steiner Ranch branch as an Assistant Vice President and Branch Manager. Rosie brings over three decades of experience in the banking industry to the Steiner Ranch team and customers. She excels at building strong customer relationships and helping them achieve their financial goals. Rosie is excited to bring her passion for community banking and personalized service to the SouthStar Bank family. Above all, Rosie values the community banking environment – where every customer can feel seen, heard, and appreciated. Her mission is to deliver exceptional service that keeps customers coming back. Outside the office, Rosie enjoys spending time with her children, whom she describes as the light of her life! She is also very active in her church, serving as a Greeter at Celebration Church on Sundays and enjoying fun outings and fellowship with her Celebration Sisters Small Group. When she finds time to herself, her favorite thing to do is curl up on the couch with her dog and watch Law & Order SVU. Welcome to the team, Rosie!

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Posted in Retirement, Savings, Self-Directed IRA
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Self-Directed IRA (SDIRA) Rules You Need to Know

A Self-Directed IRA (SDIRA) can provide you with unique benefits to maximize your retirement. At SouthStar Bank, you can utilize your SDIRA to invest in options beyond stocks and bonds, including real estate, private equity, tax liens, and private loans. While there are numerous benefits to using an SDIRA, the IRS enforces strict regulations to protect your retirement savings and maintain your account’s tax advantages. In this guide, we’ll cover the most important Self-Directed IRA rules you need to know to avoid penalties and maximize your retirement benefits. What Is a Self-Directed IRA? A Self-Directed IRA is an individual retirement account that allows investors to diversify their portfolios with alternative assets. Unlike traditional IRAs, which limit investments to stocks, bonds, and mutual funds, SDIRAs offer a broader range of investment options, including real estate, precious metals, private loans, and other alternatives. Top Self-Directed IRA Rules You Must Follow 1. Account Holders Must use an IRS-approved Custodian or Trustee Every Self-Directed IRA must be held by a qualified IRA custodian or trustee. SouthStar Bank offers custodial services to customers for their SDIRAs that have Checkbook Control-style accounts1. This structure allows you to invest in alternative assets beyond conventional options and provides easier access to your funds compared to traditional IRAs. 2. Account Holders Must Avoid Prohibited Transactions and Disqualified Persons The IRS prohibits certain transactions, known as prohibited transactions, involving disqualified individuals. Disqualified individuals include the IRA owner, spouse, ancestors, descendants, and controlled entities. Examples of prohibited transactions are: Buying property from yourself or a family member Using IRA-owned property for personal use Lending money to yourself or related parties Violating these rules can trigger taxes and penalties, disqualifying your IRA’s tax benefits. 3. No Self-Dealing Self-dealing occurs when you personally benefit from your SDIRA investments outside the account. For example, living in or using real estate owned by your IRA is strictly forbidden. All income and expenses must flow through the IRA to preserve its tax-advantaged status. 4. Know What You Can and Cannot Invest In While SDIRAs allow many alternative investments, certain assets are banned by the IRS, including: Collectibles like art, antiques, and most coins (except specific precious metals) Life insurance policies Always verify investment eligibility with your custodian before proceeding. 5. Required Minimum Distributions (RMDs) Apply If you have a traditional SDIRA, you must start taking required minimum distributions (RMDs) by age 73 (as of 2023). It’s important to note that Roth SDIRAs do not require RMDs during the owner’s lifetime. 6. Be Aware of UBTI and UDFI Tax Rules Investments generating Unrelated Business Taxable Income (UBTI) or Unrelated Debt-Financed Income (UDFI) can incur additional taxes. For example, using leverage (non-recourse loans) to buy real estate or investing in an active business may trigger these taxes, which reduce your overall returns. In Conclusion Understanding the rules of a Self-Directed IRA is crucial to legally maximizing your retirement account’s growth and avoiding costly penalties. From working with an experienced custodian to steering clear of prohibited transactions, knowledge is […]

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Posted in Savings
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5 Benefits of Saving Early for Your Child’s Future with a Youth Savings Account

When it comes to securing your child’s financial future, opening a youth savings account early can make a significant difference. Whether you want to help your child build wealth, teach money management, or set them up for long-term financial independence, saving money for your child from an early age offers numerous advantages. Read on to explore the key benefits of contributing early to your child’s savings and why opening a dedicated children’s savings account is a smart financial move for any parent. 1. Harness the Power of Compound Interest in a Savings Account One of the most significant advantages of starting a child savings account early is the power of compound interest. Compound interest allows your savings to grow significantly over time as you earn interest on both your initial deposit and the accumulated interest. Even small, consistent deposits in a youth savings account can add up significantly by the time your child is headed off to college or heading into adulthood. 2. Set Your Child Up for Long-Term Financial Independence Opening a youth savings account can help your child build a strong financial foundation. The money saved can serve as a launching pad for important life goals, such as buying a first car, moving out, or starting a business. By establishing a healthy savings balance early, your child gains greater financial freedom and independence in the future. 3. Reduce Financial Stress by Saving Consistently Saving early through a child savings account helps spread out contributions over time, making it easier to build a substantial nest egg for your child’s future without pressure to make large deposits. Automating deposits into the savings account ensures consistent growth and encourages disciplined saving habits without financial strain. 4. Teach Your Child About Money Management Through a Youth Savings Account Opening a youth savings account can be an excellent tool to teach your child financial responsibility. Involving your child in monitoring their savings account balance or setting savings goals encourages good money habits from an early age. Kids who learn about saving and budgeting through their own accounts tend to develop lifelong financial skills and respect for money. 5. Encourage a Positive Relationship with Money Early On Early exposure to managing their own savings account can help your child develop a positive attitude toward money, saving, and investing. This early experience fosters confidence and prepares them for more complex financial decisions later in life. Financial knowledge is crucial for long-term success and viability. Establishing strong principles early can be essential to your child’s development. How to Get Started with a Youth Savings Account Get started today at your local SouthStar Bank branch with our Shooting Star Savings account featuring no minimum balance requirement and no monthly service charges! While setting up the account, ask the team about automating monthly contributions to make saving effortless and encourage your child to take part in the process. Even small amounts grow over time, so the key to reaping the full benefits of a youth savings account is […]

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Posted in Mortgage Lending
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7 Smart Tips for Saving for a Down Payment on Your First Home

Saving for a down payment is often the biggest hurdle for first-time homebuyers. Whether you’re planning to save the standard 20% down payment or planning to use a first-time homebuyer program, a clear strategy and consistent habits are essential. Below are seven smart, actionable tips to help you save—plus how SouthStar Bank can support you on your journey to homeownership. 1. Set a Realistic Down Payment Goal Before you begin saving, it is essential to determine how much you’ll need. While a 20% down payment is standard for conventional loans, many first-time homebuyer programs require as little as 3% to 5%. SouthStar Bank’s H.O.P.E Home Loan1 program goes beyond traditional first-time homebuyer programs to offer even more support to help you get into your first home. If you are interested in learning what kind of down payment you may need, SouthStar Bank’s local lending experts are available to discuss your options and determine your down payment goal. 2. Open a Separate Down Payment Savings Account Creating a dedicated savings account to keep your down payment funds separate from everyday spending can be a great help in accomplishing your final goal. Using an account for regular transactions can make saving more challenging to track and control. A dedicated account, on the other hand, allows you to monitor your progress closely and manage your spending more effectively. 3. Automate Your Savings Setting up automatic transfers into your down payment account ensures consistency and removes the temptation to skip months. Even modest contributions—such as $100 per week—can add up quickly. Some employers also allow you to split direct deposits to multiple accounts. Setting up this feature can be a good tool for accomplishing your down payment savings goals. 4. Cut Back on Expenses Lowering your daily expenses, whether it be skipping your morning latte or rethinking big trips, can offer a boost to your savings. Work to reduce discretionary spending by limiting takeout, pausing unused subscriptions, or shopping more intentionally. Funnel those extra funds directly into your down payment fund every month. 5. Increase Your Income with a Side Hustle Consider freelance work, online selling, or part-time gigs. Any extra income can make a big difference when directed straight into your savings account. Currently, there are many credible side-hustles you can do online. Starting an online storefront or pursuing a profitable creative venture can be a great way to make some extra money without interfering with your current work schedule. 6. Use Windfalls to Boost Your Savings Large windfalls of funds can significantly accelerate your down payment savings. Put tax refunds, work bonuses, or monetary gifts toward your down payment. These unexpected funds can make a significant dent in your savings goal if handled wisely. 7. Take Advantage of First-Time Homebuyer Assistance Programs Purchasing your first home can feel like a major financial and mental endeavor. Thankfully, many first-time homebuyers qualify for grants, forgivable loans, or down payment assistance programs at the local, state, or federal level. SouthStar Bank offers several mortgage options […]

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Posted in Employee News
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Welcome Clint Meyer

Clint Meyer, Senior Vice President of Lending | SouthStar Bank Leander Clint Meyer has joined the SouthStar Bank Leander branch as a Senior Vice President of Lending. Clint received his undergraduate degree from Texas Tech University and pursued further education at St. Edward’s University, where he earned his Master of Business Administration degree. A specialist in commercial and CRE lending, Clint spent more than two decades in the Central Texas commercial and industrial construction industry. In his role with SouthStar Bank, Clint looks forward to building lasting personal and community relationships as well as helping businesses within the local economy. Clint takes great pride in being a part of projects that physically shape communities. He finds it rewarding to analyze complex deals, structure financing based on each client’s unique needs, and serve as a trusted resource and partner for every deal, from concept to completion. Outside of the office, Clint enjoys spending time with his family, working on his family ranch in South Texas, and fly fishing in the Rocky Mountains. Clint also spends time giving back to his community through Meals on Wheels. Welcome to the team, Clint! NMLS #2740734

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