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

by SouthStar BankSeptember 5, 2025

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!

Retirement, Savings, Self-Directed IRA

by SouthStar BankAugust 29, 2025

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 […]

Savings

by SouthStar BankAugust 27, 2025

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 […]

Mortgage Lending

by SouthStar BankAugust 18, 2025

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 […]

Employee News

by SouthStar BankJuly 24, 2025

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

Construction Loans, Land Loans, Mortgage Lending

by SouthStar BankJuly 23, 2025

Your Home for Rural Lending

If you’re looking for a trusted partner for your rural lending needs, choosing the right financial partner matters. National banks may offer convenience, but they often fall short when it comes to understanding the unique financial needs of rural borrowers. At SouthStar Bank, we value the rural communities we work and live in. Our local expertise makes us the smart choice for individuals, families, and businesses in rural areas. With a strong commitment to local communities and decades of experience in Texas rural lending, SouthStar Bank delivers personalized service and flexible loan solutions that national lenders simply can’t match! Deep Local Knowledge and Personalized Lending SouthStar Bank’s lending team lives and works in the same rural communities they serve. This gives them a clear understanding of local land values, agriculture cycles, and the economic challenges rural Texans face. Whether you’re applying for a farm loan, purchasing rural property, or expanding your ranch, SouthStar Bank provides fast, locally made decisions backed by real expertise. Flexible Financing Options for Rural Texans No two borrowers are alike—especially in rural areas where traditional loan models often don’t apply. SouthStar Bank specializes in customized rural lending solutions, including: Farm and Ranch Loans Rural Living Mortgage Program Star Advantage Program: Mortgage Solutions for Unique Situations Lot and Construction Loans Commercial and SBA Lending Beyond living and working in our communities, we also make our decisions in house, this allows us to offer flexible terms and creative solutions tailored to your situation. Investing in Texas Communities As a true Texas community bank of more than 100 years, SouthStar Bank reinvests in the areas it serves. The money you deposit stays local—supporting other families, farms, and small businesses in your region. That means when you bank with SouthStar, you’re not just getting financing, you’re helping build a stronger local economy! Trusted Relationships, Not Transactions SouthStar Bank is relationship-focused, not transaction-driven. Our loan officers take time to get to know you and your goals, providing expertise and support throughout the entire lending process. We have worked hard for over 100 years to earn the trust of our local communities and develop relationships that last generations. Choose SouthStar Bank for Your Rural Lending Needs If you’re in need of rural lending solutions in Texas, SouthStar Bank offers the local expertise, flexible financing, and personalized service you deserve. Whether you’re buying land, financing a farm, or building your dream home in the country, SouthStar Bank is your trusted partner for success. Ready to start your Rural Lending journey? Contact your local experts today!

IRA Accounts

by SouthStar BankJuly 16, 2025

Transitioning Your IRA

If you’re planning for retirement and looking for a better way to manage your investments, transitioning your IRA to a trusted local bank can be a wise step. Whether you’re consolidating accounts, seeking better service, or rethinking your strategy, making the move to SouthStar Bank offers personalized support, a broad range of account options, and peace of mind for your retirement future. In this guide, we’ll walk you through why and how to transition your IRA to SouthStar Bank, and what you need to know to make the process smooth and tax-efficient. Why Consider an IRA Transfer? An Individual Retirement Account (IRA) is one of the most powerful tools for long-term saving, but not all IRA providers offer the same value. You might consider transitioning your IRA if: You’re looking for more personalized, local service. You want to consolidate multiple IRAs into one, easier-to-manage account. Your current IRA has high fees or limited investment options. You’ve changed jobs and need to roll over a 401(k) into an IRA. You’re interested in a Roth conversion for tax-free retirement income. At SouthStar Bank, our experienced financial team works with you one-on-one to understand your retirement goals and help you make informed choices about your future. Benefits of Moving Your IRA to SouthStar Bank Transitioning your IRA to SouthStar Bank gives you access to: Local, personalized service from real people who know your name and care about your future Flexible IRA options including Traditional, Roth, SEP, and SIMPLE IRAs FDIC-insured IRA savings accounts and Certificates of Deposit (CDs) for low-risk investors Self-Directed IRA with Checkbook Control offering flexible investment options Simple rollover and transfer support to make the transition stress-free Whether you’re nearing retirement or just getting started, our retirement solutions are designed to meet you where you are and grow with you. How to Transition Your IRA to SouthStar Bank Review Your Current IRA Start by looking at your current IRA account. Note the type (Traditional or Roth), the investment performance, fees, and if it aligns with your long-term goals. Contact a SouthStar Bank Specialist Our team is here to guide you through every step. We’ll discuss your options, explain the benefits of different IRA types, and help you choose the best solution. Contact our IRA experts at ira@southstarbank.com or 512.384.3948. Initiate a Direct Transfer We recommend a direct trustee-to-trustee transfer, which moves your funds from your existing provider straight into your new SouthStar Bank IRA. This avoids taxes and early withdrawal penalties. Monitor and Confirm Our team will keep you informed throughout the process, and we’ll ensure your funds are moved safely and securely. IRA transfers typically take 7-14 business days, but in some cases transfers can take longer. Let SouthStar Bank Help You Plan Your Retirement When it comes to transitioning your IRA, you deserve more than just a transaction—you deserve a relationship. At SouthStar Bank, we believe retirement planning is personal. That’s why we offer tailored advice, responsive service, and a commitment to helping your savings grow. Ready to transition […]

Savings

by SouthStar BankJuly 8, 2025

Money Market vs Traditional Savings: What Account is Right for You?

When deciding how to save money effectively, money market accounts and traditional savings accounts are two popular and safe options offered by banks. Both types of accounts provide interest earnings and federal insurance protection, but they differ in features, interest rates, access, and minimum balance requirements. Understanding the differences in each account is crucial to finding the right account for your needs! What Is a Traditional Savings Account? A traditional savings account is a basic deposit account that allows you to securely save money while earning interest. It’s a low-risk option insured by the FDIC up to $250,000 per depositor, providing peace of mind that your funds are safe. Features of Traditional Savings Accounts Lower interest rates: Typically range between 0.01% and 0.50%. Check our current rates here. Easy access to funds: Withdrawals and deposits are simple, though federal regulations limit certain withdrawals to six per month. Low minimum deposit requirements: A Traditional Savings Account at SouthStar Bank has a minimum opening deposit of $100 (as of 6/26/25). Minimal or no fees: Monthly fees are often waived when minimum balances are maintained. What Is a Money Market Account? A money market account (MMA) combines features of savings and checking accounts, often paying higher interest rates due to investments in short-term government securities and other low-risk instruments. Like traditional savings, MMAs are FDIC insured up to $250,000. Features of Money Market Accounts Higher interest rates: MMAs generally offer better returns than traditional savings accounts. Check our current rates here. Limited check-writing privileges: You may be able to write checks, offering more transactional flexibility. Higher minimum balance requirements: Usually require $1,000 or more to open and avoid fees. Money Market Account vs Traditional Savings Account: A Side-by-Side Comparison Feature Traditional Savings Account Money Market Account Interest Rates Typically Lower Typically Higher Minimum Deposit Low Higher ($1,000 or more) Access to Funds Limited withdrawals, no checks Checks allowed Fees Usually none or low Possible monthly fees if balance not met Safety FDIC insured FDIC insured Which Is Better: Money Market Account or Traditional Savings Account? Choosing between a money market account vs traditional savings account depends on your savings goals, balance, and how frequently you need access to your funds: If you want a straightforward, low-maintenance account to grow your emergency fund with easy access, a traditional savings account is likely the better choice. If you want to maximize interest earnings and appreciate some check-writing access with your savings, and you can maintain a higher balance, a money market account may be more suitable. Tips to Maximize Your Savings Avoid monthly fees by meeting minimum balance requirements. Use money market accounts for larger emergency funds or short-term savings that require occasional access. Use traditional savings accounts for smaller balances or savings goals with less frequent withdrawals. Both money market accounts and traditional savings accounts offer safe, insured ways to save money, but they serve different needs. Money market accounts typically provide higher interest and more access options but require larger balances. Traditional […]

Bank News, Giving Back

by SouthStar BankJuly 7, 2025

Resources for Texas Communities Following the July 2025 Floods

Our hearts go out to the families and communities impacted by the devastating flooding in Central Texas this past weekend. SouthStar Bank stands ready to support those in need during this difficult time. We are committed to being a resource for our neighbors. Please note that law enforcement officials are asking the public not to self-deploy for relief efforts. However, there are many safe and meaningful ways to get involved. Below is a list of resources for everyone impacted or wanting to help during this difficult time. Residents Impacted by the Floods FEMA (Federal Emergency Management Association): Disaster assistance customer service at 800-621-3362, or by registering online at www.disasterassistance.gov. DR-4879-TX Texas Severe Storms, Straight-line Winds, and Flooding Information Disaster Distress Helpline – Call or text 1-800-985-5990 Texas Disaster Portal at disaster.texas.gov. Check Road Conditions: DriveTexas.org Flooding Resources: TexasFlood.org‍ Flood Safety Tips: Ready.gov/floods‍ Call 2-1-1 for information on evacuation shelters, or visit tdem.texas.gov/shelter‍ Homeowners Impacted by the Floods 3 steps homeowners should take after a natural disaster: Talk to a housing counselor at no cost to you by calling 1-855-HERE2HELP or schedule an appointment. Contact your insurance company Contact your mortgage loan servicer How To Help The Red Cross The Salvation Army Austin Pets Alive! World Central Kitchen SouthStar Bank Relief Fund Assistance for Small Business Owners SBA Disaster assistance: SBA’s Customer Service Center at 1-800-659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. SouthStar Bank Relief Fund SouthStar Bank has opened two accounts dedicated to relief efforts for communities in Kerr and Williamson County impacted by the recent floods. Donations can be made in person or, if you prefer, by check, payable to SouthStar Bank. All 16 SouthStar Bank branches will accept donations through July 31. Locations within Williamson County include Georgetown and Leander, and within Kerr County, the Kerrville branch. SouthStar Bank has initiated fundraising efforts by making a $2,500 donation to both the Kerr County and Williamson County Relief Funds. For more information, contact your local SouthStar Bank branch. Be Aware of Fraud & Scams How To Avoid Scams After Weather Emergencies and Natural Disasters Frequently Asked Questions About Disasters How to/Where to report a scam Charity and Disaster Fraud Change of Address: If you need to update your address, please use the United States Postal Service website or visit a post office to make any necessary changes.

Retirement, Savings, Self-Directed IRA

by SouthStar BankJune 17, 2025

5 Benefits of a Self-Directed IRA (SDIRA)

When planning for retirement, most consumers assume that traditional options, such as 401(k)s, IRAs, or employer-sponsored plans, which typically include mutual funds and stocks, are the only available options. However, many people long to have more control over their retirement and are unaware of the other options available. Enter the Self-Directed IRA (SDIRA) — a powerful yet often overlooked retirement account that puts the customer in control of their investments. Understanding the benefits of using a self-directed IRA will help an investor optimize their retirement planning. Benefits of Self-Directed IRAs: Expanded Investment Options Unlike traditional IRAs, SDIRAs allow account holders to invest in a variety of investment options, including: Real estate (residential, commercial, raw land) Precious metals (gold, silver, etc.) Tax Liens Private Equity/Companies Having investment control opens up opportunities for higher returns, better diversification, and investment in areas where investors have personal knowledge and expertise. Diversification Outside of the Stock Market Relying solely on the stock market can expose your retirement to volatility amidst economic downturns. With a SDIRA, investors can hedge against inflation and market risk by investing in hard assets or alternative markets. For instance, real estate or private lending can provide stable, passive income streams even when the stock market is down. Tax Advantages Just like traditional and Roth IRAs, SDIRAs offer tax-deferred growth depending on the account type: Traditional SDIRA: Contributions are tax-deductible, and growth is tax-deferred until withdrawal. Roth SDIRA: Account holders make contributions after tax, but qualified withdrawals are tax-free. Greater Control and Flexibility With an SDIRA, the account holder has complete control over their investment. They decide which assets to invest in and when to make a move, which is especially attractive to experienced investors or entrepreneurs who want more input in the use of their retirement funds. Potential for Higher Returns By investing in assets, the account holder will typically invest in options that they have a strong understanding of and feel confident will be a beneficial investment. One commonly chosen investment is real estate used as rental properties. Building a portfolio centered around unique investments may generate higher returns than a traditional stock-based portfolio. While these investments may carry higher risk, they also offer the potential for substantial rewards. Before Opening a SDIRA While SDIRAs offer numerous advantages, they also include additional responsibilities for the investor. For example, account holders must avoid prohibited transactions (such as self-dealing or using SDIRA assets for personal benefit) and follow IRS rules carefully. It’s critical to work with a qualified custodian, such as SouthStar Bank, and consult with financial or legal professionals who have experience working with SDIRAs. In Conclusion A Self-Directed IRA isn’t for everyone, but for investors looking to diversify and take control of their retirement planning, it could be a top account option. Whether you’re a real estate investor or simply looking to escape market dependency, an SDIRA gives you the flexibility to build a retirement portfolio on your terms. Interested in starting your SDIRA journey? SouthStar Bank is ready to […]