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

by SouthStar BankAugust 10, 2020

How is my IRA affected by the CARES Act?

Learn about recent IRA changes Through the Coronavirus Aid, Relief, and Economic Security Act, known as the CARES Act, several provisions were made to help those financially or medically affected through these tough times. Although the CARES Act impacted more than individual retirement accounts (IRAs), the impact on IRAs is significant. IRA owners and beneficiaries of a deceased IRA owner should be aware of these changes in relation to their unique goals and circumstances. THE 2020 REQUIRED MINIMUM DISTRIBUTION (RMD) HAS BEEN WAIVED IRA owners and IRA beneficiaries are not required to take a distribution. The RMD provision is applicable to any Traditional IRA, including Simplified Employee Pension (SEP) and Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) IRAs. If an IRA owner turned age 70.5 in 2019 and postponed his/her RMD after 2019 (until the required beginning date of April 1, 2020), the RMD is eligible to be waived. THE RMD ROLLOVER DEADLINE HAS BEEN EXTENDED TO AUGUST 31, 2020 If you have already taken your 2020 RMD, you may have the opportunity to return funds as a rollover contribution. This is also applicable to surviving spouse beneficiaries. Non-spouse surviving beneficiaries may rollover only the RMD death distribution amount received in 2020 back into the same IRA. AUTOMATIC WITHDRAWALS ARE ELIGIBLE FOR REVISIONS If you previously set up an annual RMD to be automatically withdrawn, you may contact your banker to revise the schedule. In most cases, including existing SouthStar Bank IRA Accounts, if you do not request an adjustment, it will be assumed that you intend the 2020 RMD to take place even though it is not required by law. It is recommended that you consult a tax professional regarding your intentions when adjusting planned disbursements. If you have questions regarding your SouthStar Bank IRA account, we’re here to help. Please reach out by emailing contact.us@southstarbank.com or contacting your nearest SouthStar Bank branch.

Employee News

by SouthStar BankAugust 6, 2020

Welcome Courtney Schweitzer

Courtney Schweitzer, Personal Banker | SouthStar Bank Georgetown Branch Courtney Schweitzer is joining the SouthStar Bank team as a Personal Banker at our Georgetown location. She has two years of industry experience and is excited to bring her outside perspective and knowledge to the job. A fun fact about Courtney is that her favorite travel destination is Colorado. Welcome Courtney!

Bank News, Event

by SouthStar BankAugust 5, 2020

SouthStar Bank Then & Now: 1920

A look back on the Banking Industry 100 years ago. This year SouthStar Bank is celebrating its 100th anniversary. The Bank opened its doors as The Farmers and Merchants Bank of Moulton in October of 1920. The Bank was located at the present site of Moulton City Hall, and F.T. Fehrenkamp served as President along with Rudy Jaeggli as Vice President. Banking looked a bit different back in 1920: Banks offered installment loans, mortgages, and loans to stock market speculators on 90 percent margins. Printing tabulators were introduced, which not only improved speed and accuracy of balancing vault balances, but set the stage for future technology. There were no insider-trading laws 100 years later, the SouthStar Bank headquarters remains in Moulton, TX. Mark your calendar and join us to celebrate this historical milestone on October 21! 100 S. Main St. Moulton, TX | 5-7pm

Employee Spotlight

by SouthStar BankJuly 28, 2020

Employee Spotlight – Kristin Ross

Kristin Ross, Commercial Loan Closing Coordinator| SouthStar Bank Round Rock Kristin Ross joined SouthStar Bank as a Commercial Loan Closing Coordinator in the beginning of 2020. She offices out of our Sendero Springs Branch which is located in Round Rock. Kristin has worked in banking for a little under two years and enjoys that she is always learning something new from the industry. A career highlight for Kristin, were the efforts put in by her team to help small businesses and independent contractors get their PPP loans. When she is not at work, Kristin loves to volunteer with Texas Sled Dog Rescue, where she has adopted her two dogs from. One of her favorite moments from volunteering was being able to foster a twice returned dog until he found his forever home with her best friends. Kristin has many hobbies including hiking, sailing, water sports, woodworking, and cooking. Something that most people don’t know about Kristin is that she has lived in 7 different states, attended 8 different schools, and has moved a total of 15 time. Her idea of a dream vacation would be an around the world cruise. NMLS# 1965650

Bank News, Event

by SouthStar BankJuly 23, 2020

SouthStar Bank 100th Anniversary Book Drive

Help us reach our goal of 100 books for 100 years. Over the past 100 years SouthStar Bank has built a tradition of community service, supporting past generations and the generations to come. In honor of our 100th Anniversary, we are continuing the tradition by hosting a bank-wide book drive. Every branch has partnered with one to two schools to help add some new books to their libraries this fall. Please consider helping us reach our goal of 100 Books for 100 Years. Our book drive is running now through September 8. New and gently used books for local students will be accepted at all SouthStar Bank Branches. Bins will be placed outside each location to adhere with social distancing guidelines. If you would like to donate virtually, click on one of the participating schools below to view their Amazon Wishlist: Bremond Elementary School– Bremond Calvert Elementary School– Calvert Chandler Oaks Elementary School– Round Rock East Avenue Primary School– Gonzales Hearne Elementary School– Hearne Lake Pointe Elementary School– Austin McCasland Christian Academy– Georgetown Moulton Elementary School– Moulton Mumford Elementary School– Mumford Norman-Sims Elementary School– Austin Pleasant Hill Elementary School– Leander Richard E. Cavazos Elementary School– Nolanville Roland Reynolds Elementary School– Franklin Rooster Springs Elementary School– Austin Shiner Elementary School– Shiner St. Ludmila Elementary School– Shiner Steiner Ranch Elementary School– Austin Sycamore Springs Elementary School– Austin Wild Peach Elementary School– Brazoria

Employee Spotlight

by SouthStar BankJuly 20, 2020

Employee Spotlight – Kimberly Moore

Kimberly Moore, Vice President and BSA & OFAC Officer| SouthStar Bank Shiner Kim Moore started her career with SouthStar Bank 18 years ago and hasn’t looked back since. Kim is SouthStar Bank’s BSA & OFAC Officer as well as a Vice President. As a BSA officer, Kim makes sure that operations throughout the bank comply with the Bank Secrecy Act and on a daily basis watches over cash transactions to make sure nothing is out of the ordinary. She offices in the Shiner Branch. Achieving satisfactory scores on all exams and audits since becoming the BSA officer is one of her biggest career achievements. Kim loves working in the banking industry because of her awesome co-workers and customers. Kim is very involved in her community outside of work. She volunteers with the Shiner ISD PTO, Shiner Jr. Livestock Show, Halfmoon 4-H, the Ladies Auxiliary for the Shiner VFD, Shiner Little League, and the Shiner Youth Soccer Association. One of Kim’s most cherished moments from volunteering was helping the community of Woodsboro, TX clean up after Hurricane Harvey. Getting to see the amount of people willing to help friends, family, and complete strangers was extremely humbling. In her free time, Kim loves to spend time with her family, go to the beach, and travel. Her idea of a dream vacation is to spend a week on a secluded island living on island time, with no connection to others and a drink in hand.

Employee Spotlight

by SouthStar BankJuly 6, 2020

Employee Spotlight – Kendra Thurman

Kendra Thurman, Mortgage Processor| SouthStar Bank Calvert Kendra Thurman joined the SouthStar Bank team last year as a Mortgage Processor. She is based at the SouthStar Bank Calvert location. Kendra began without previous experience in the banking industry but has quickly excelled in her role. She attributes this in part to the friendly and helpful people she has met while with SouthStar Bank, and truly enjoys working in the industry. Outside of work, Kendra loves to help people in any way she can. She currently volunteers with the Humane Society and the Agri Women’s Association. The most rewarding moment of volunteering for Kendra is seeing people’s faces light up when they receive the help they need. Kendra’s free time is spent with her two young daughters. When her daughters aren’t keeping her too busy, she enjoys putting her event planning skills to use – from simple birthdays to extravagant weddings. Something that most people don’t know about Kendra is that she is a minister and can perform baptisms and weddings. Kendra’s idea of a dream vacation would be sipping a drink on the white sand beach of Bora Bora.

Employee Spotlight

by SouthStar BankJune 29, 2020

Employee Spotlight – Kacy Kirk

Kacy Kirk, Vice President & Branch Manager| SouthStar Bank Hearne Kacy Kirk is the Vice President and Branch Manager at the SouthStar Bank Hearne Branch. She joined the SouthStar Bank team five years ago after working in the banking industry for two years. Kacy enjoys developing long term relationships with her clients and using her problem-solving skills to assist other employees and customers. One of Kacy’s biggest career achievements was being awarded the 2018 SouthStar Bank Star Service Award. Outside of work, Kacy serves on the Board of Directors of the Hearne Community Development Corporation as both Secretary and Treasurer. The HCDC helps fund projects that benefit the small businesses and citizens of Hearne. Kacy’s favorite aspect of working with the HCDC is supporting and learning more about her community. Kacy also enjoys reading, traveling with her husband, and visiting family. Kacy and her husband spent three years living in Germany and have traveled to over 20 different countries.

Bank News, Important Notice, Press Release

by SouthStar BankJune 17, 2020

SouthStar Bank COVID-19 Update 6.17.20

Serving our friends, families, and communities. We’re in this together. SouthStar Bank continues to monitor guidelines from health and government officials relating to the ongoing COVID-19 pandemic. As a precaution, lobby access is limited across all locations. Drive thru remains open (please see below for limited hours at select locations). Customers who have a critical need to conduct an in-person transaction or access a safe deposit box should contact your local branch for an appointment. REDUCED HOURS All locations will maintain normal drive thru hours. REMOTE BANKING SERVICES We are committed to providing uninterrupted, exceptional services while balancing the interests of our clients, our employees and others we serve. For your convenience, we provide a variety of options to help manage your accounts and maintain productivity. Allpoint ATM Network: world-wide, surcharge free ATMs CardValet®: Manage and monitor debit card activity Direct Deposit: Deposit paychecks automatically into your account Mobile App: Deposit checks with a picture and transfer funds Loan Payments: Secure, online payments using a debit card, checking or savings account Online Banking: Review transactions, transfer funds, pay bills and open accounts Online Applications: Mortgage Loan or Refinance Consumer Checking or Savings Account Zelle: Person-to-person money transfer Telebanking: 24/7 account access (866.333.9064) Unfamiliar with our remote banking options? Watch our video tutorials to learn more. ONGOING MONITORING & UPDATES Our hearts go out to all those impacted by COVID-19—including not only those diagnosed with the virus, but also their friends and family, those whose jobs and schools have been impacted, and many more. We will continue to monitor the situation as it evolves, taking additional measures as public safety authorities recommend. In the meantime, we’re grateful for your support and want you to know that the health and safety of you and your family are top of mind for us.

Employee Spotlight

by SouthStar BankJune 16, 2020

Employee Spotlight – Justin Kleiber

Justin Kleiber, Senior Vice President & Branch Executive| SouthStar Bank Hearne Justin Kleiber has been with SouthStar Bank for the last seven years. He is Senior Vice President, IRA Lending Specialist, and Branch Executive at SouthStar Bank’s Hearne location. Justin is a proud alumnus of Sam Houston State University where he graduated with his undergrad in 2010 and his MBA in Banking and Financial Institutions in 2017. Justin completed his MBA while working full-time and remains appreciative of the support he received from his family and SouthStar Bank during his studies. Justin enjoys working in the finance industry because he is able to build lasting relationships with his clients, becoming a strategic partner in planning their financial goals. Justin also enjoys his work as a community banker because it has allowed him to be involved in numerous organizations and events in Robertson County. Currently, Justin is on the board for Franklin Little Dribblers and runs the play clock for the Franklin Lions football team every Friday night. In the past, he also served on the Robertson County Appraisal Review Board, the Franklin Chamber of Commerce, and Franklin Little League as a t-ball coach. Getting to watch all of the kids in the community get to play a team sport is what makes volunteering so rewarding for Justin. Outside of work, Justin enjoys golfing, attending sporting events, traveling, and going to the beach. He has been married to his wife for 10 years and together they have two daughters. NMLS# 1081538