General Education Archives - SouthStar Bank, S.S.B.

by SouthStar BankJanuary 28, 2026

Tips to Get Ready for Tax Season

Tax season has a way of sneaking up on even the most organized households. A little preparation now can help you avoid last-minute stress, reduce errors, and even uncover opportunities to save money. Whether you’re filing on your own or working with a tax professional, using these tax tips to get ready for tax season can help you feel confident and prepared. 1. Gather and Organize Key Tax Documents One of the most critical portions of tax preparation is gathering essential documents early. Important documents can include W-2s, 1099s, mortgage interest statements, and investment income records. If you’re self-employed, organize business income and expense receipts. You can review what documents you may need on the IRS website. Keeping everything organized in one secure place makes filing taxes more straightforward and more efficient. Tax forms for SouthStar Bank accounts can be accessed through your Online Banking portal. 2. Review Last Year’s Tax Return Reviewing last year’s return can highlight deductions or credits you may qualify for again. It also helps identify changes such as a new job or increased income, a home purchase, or a growing family that may affect your tax return this year. The One Big Beautiful Bill Act (signed into law 7/4/2025) has significant effects on credits and deductions; you can review all of these provisions here. 3. Track Deductible Expenses Throughout the Year Many taxpayers miss out on valuable tax deductions because their expenses are not tracked consistently. Medical costs, student loan interest, charitable donations, and education expenses may be deductible. Keeping a running list is a great practice to adopt going forward if you are not currently tracking these expenses consistently. 4. Maximize Retirement Contributions Contributing to tax-advantaged retirement accounts, such as IRAs, can help lower your taxable income while building long-term savings. Depending on eligibility, you may be able to make contributions before the tax filing deadline. SouthStar Bank offers retirement savings options that support both financial planning and tax savings strategies. Contact your local branch to learn more! 5. Review and Adjust Tax Withholding If you owed taxes or received a large refund last year, it may be time to adjust your withholding. Updating your W-4 can help align your paycheck with your tax liability, improve cash flow, and help you avoid unwelcome surprises during tax filing season. 6. For More Complex Returns, Consider Working with a Tax Professional Tax laws change often, and situations involving small businesses, investments, or significant life events can make tax preparation more complex. A qualified tax professional can help you identify credits, deductions, and compliance requirements you may overlook. 7. File Early and Use Direct Deposit Filing early helps protect against tax-related identity theft and speeds up refunds. Direct deposit is the fastest way to receive your refund, and the IRS is currently working to phase out all paper tax refund checks. Following this change, the IRS is encouraging taxpayers without a bank account to open one so they can receive refunds by direct deposit. Prepare for Tax […]

General Education, Important Notice, Scams

by SouthStar BankJanuary 23, 2026

Scam Updates

Scammers are constantly finding new ways to steal personal and financial information, often by pretending to be trusted businesses, government agencies, or even friends and family. Educating yourself on current scams is one of the most effective ways to protect yourself, as awareness helps you recognize red flags before damage is done. By staying informed and knowing how to verify suspicious messages or requests, you can significantly reduce your risk and keep your information secure. Please keep checking this blog for updates on current scams we are seeing in the financial industry. January 2026 USA Warranty Scam: Scammers are sending letters by mail asking you to contact them to verify your home warranty, which they claim is secured by SouthStar Bank. SouthStar Bank does not require this type of warranty and is also not associated with this company. January 26-30: Happy Identity Theft Awareness Week! Remember, identity theft can happen to anyone at any age. Educate yourself to protect yourself! November 2025 Impersonation Scam: Fraudsters are making calls, sending texts, and emailing recipients impersonating SouthStar Bank employees to request personal account information. A true SouthStar Bank team member will never contact you to ask for personal information. If someone tries to contact you, hang up and contact your local branch immediately using your branch’s direct number. What To Do If You Think You Have Been Scammed If you believe someone is trying to scam you, stop engaging with them immediately and do not share any personal or financial information. Avoid clicking links, opening attachments, or responding to urgent or threatening messages. Always take your time in verifying the request by contacting SouthStar Bank or the person they are imitating directly using a trusted phone number or website, not the contact details provided in the message. Finally, report the attempt to your bank, employer, or the appropriate authorities so they can help protect you and others from future scams.

General Education, Savings

by SouthStar BankJanuary 14, 2026

Financial Resolutions for the New Year

The new year is the perfect time to reset your financial goals and build habits that support long-term success. Whether you’re focused on saving more, paying down debt, or planning for the future, setting clear financial resolutions can help you start the year with confidence. At SouthStar Bank, we’re here to help you turn those resolutions into realistic, achievable steps toward a stronger financial future. 1. Evaluate Your Spending Review your spending from the previous year by reviewing your bank and credit card statements. Understanding where you’ve spent in the past is a great way to identify areas where you can save in the new year! 2. Reassess Your Budget An annual budget review is an excellent idea as we head into the new year! Review how you performed against your budget in the previous year. Identify areas where spending was too high and adjust for the new year. Assess any new fixed or variable costs you anticipate will impact you and ensure you plan for them. 3. Stay Consistent and Track Your Progress Consistency is paramount when it comes to your financial goals. Tracking your progress weekly or monthly is a great way to ensure you stay on target while also encouraging you to keep working toward your goal! 4. Automate Savings/Payments Making the most of automation can be a great way to ensure you stay on track with savings goals and don’t miss any recurring payments. You can set up automated bill payments as well as automated transfers through your Online Banking login. 5. Establish or Evaluate Your Emergency Fund An emergency fund is a vital backdrop for your finances. Determining exactly how much you need in your emergency fund depends on several factors (number of dependents, income stability, cost of living, etc.). Establishing an emergency fund if you don’t have one currently should be a priority. If you already have a fund established, it is still best practice to review it annually to ensure it remains sufficient. 6. Establish an Estate Plan Preparing for the future is never a bad idea. Establishing an Estate Plan can offer you peace of mind and allow you to evaluate your current assets. If you already have an Estate Plan in place, it is never a bad idea to review your plan annually to ensure you make any necessary adjustments. 7. Evaluate Contributions to IRA/HSA/401 (k) IRA, HSA, and 401 (k) accounts all offer unique benefits that consumers should take advantage of when possible. Evaluate your current contributions and ensure you are getting the most from these accounts! The updated contribution limits for 401 (k) and IRA accounts in 2026 can be found 8. Pay Off High-Interest Debt It is always wise to prioritize your high-interest debt (credit card debt, payday loans, private student loans, etc.). These interest rates are often higher than your returns on investments and savings and thus can eat into your savings potential. Consolidating debt can potentially help to lower your interest rate. Using the Snowball or […]

General Education

by SouthStar BankDecember 20, 2025

Snowball vs Avalanche: Two Smart Ways to Pay Off Debt

Managing debt is always a great financial resolution, but finding the right repayment strategy is vital to making sure you accomplish your goals. Two of the most effective and widely recommended approaches are the snowball and avalanche debt repayment methods. At SouthStar Bank, we believe understanding your options is the first step toward long-term financial success. The Snowball Method: Build Momentum with Quick Wins The snowball method prioritizes paying off debts from the smallest balance to the largest. You make minimum payments on all accounts and apply any extra funds to your smallest debt first. Once it’s paid off, you roll that payment into the next smallest balance. This approach is popular because it delivers quick victories, helping people stay motivated and committed to their debt payoff plan. The Avalanche Method: Save More on Interest Over Time The avalanche method focuses on interest rates rather than balances. With this strategy, you target debts with the highest interest rates first while continuing minimum payments on the rest. Over time, this approach typically reduces the total interest paid and can help you become debt-free faster. It’s an ideal option for those focused on long-term savings and financial efficiency. Which Debt Repayment Method Is Best for You? Both methods are effective and offer their own benefits; the right choice depends on your financial goals and personal motivation style. Whether you’re seeking momentum or maximum interest savings, consistency is the key to success! At SouthStar Bank, our team is here to help provide you with the right knowledge and tools your repayment strategy, making paying off debt feel more achievable and building your financial stability for the years to come!

General Education

by SouthStar BankSeptember 12, 2025

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!

General Education

by SouthStar BankJune 16, 2025

Secure Documents: What to Keep and How Long

Over the years, the number of essential documents in your possession often stacks up. The accumulation of documents can make it increasingly challenging to determine which documents should be kept secure and for how long. Outlined below is a list of several documents that are vital to keep safe and secure, along with a rough timeline for their retention. Forever Documents: Birth Certificates Marriage and Divorce Records Social Security Cards Loan Payoff Statements Retirement/Pension Records Estate Documents Military Service Records Death Certificates Loan Documents Loan Statements and Documents should be kept until the loan is paid off, at which point you should keep the Loan Payoff Statement Vehicle Titles Titles should be held for as long as you own the vehicle Home Improvement Purchase Receipts Proof of all home improvements should be kept until you sell the home Investment Statements Three to Seven Years: Tax Records Medical Bills One Year: Credit Card Statements While keeping physical and/or original copies of these documents is beneficial, it is also wise to scan important documents and store them digitally on a secure device. For monthly, quarterly, or annual statements, options are often made available for electronic statement delivery. This can expedite the record-keeping process and prevent potential fraud in the event that one of your statements is lost or stolen. Always remember to keep your accounts updated in the event you change your email, phone number, home address, etc., to ensure no documents are delivered to the wrong place. Source: The Washington Post