Kara Tesch, Author at The First National Bank in Sioux Falls

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Roth vs. traditional: Choosing the best retirement account for my situation

Deciding whether a Roth or traditional account is best for you is a very personal experience. Differences in income, retirement expectations, and state tax treatment will all be determining factors in your choice. In a previous blog post, we discussed the difference between Roth and traditional tax-advantaged retirement accounts.

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New federal reporting requirement for beneficial ownership information (BOI)

Updated December 6, 2024: In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.

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Join us for the 2025 Hutterite Banking Institute program

As the old saying goes, “the only constant in life is change.” That message is applicable to nearly everyone, but for the purpose of this article, I want to apply it to what we are seeing with Hutterite colonies.

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Selling your business? Here's your guide to a successful transition

So, you’re thinking about selling your business. What is your “why”? Is it to create a financial legacy? To pass along your business to family? To get the most money from the sale or the best outcome for your employees? Are you looking for a clean break or delayed retirement?

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Elections and how they impact your money

Common Cents on the Prairie™

Are markets more volatile in an election year? Does the person or party in the Oval Office have any effect on my returns? With the 2024 election right around the corner, the latest episode of our podcast, Common Cents on the Prairie™, is all about elections and how they impact your money.

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Harvest time: A season of new beginnings

First on the Farm Newsletter

In last year’s fall newsletter, I focused on three themes as we approached harvest season: Abundance Reflection Preparation This year feels a little different going into 2025. As such, we’ll focus on one theme that seems relevant to me personally and to our Ag Banking team and customers.

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Do you practice safe checks? Tips for preventing check fraud

Do you practice safe checks? It should come as easily as airline safety, so buckle up for this one. Despite the fact that check use has declined by 25%, reports of check fraud have soared. Actually, they’ve nearly doubled since 2021.

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First National Bank named 'Disability Inclusion Partner' by Employment Disability Resources

The First National Bank in Sioux Falls has received the Disability Inclusion Partner award from Employment Disability Resources, a local nonprofit organization that aids businesses in recruiting, retaining, and promoting individuals with disabilities. The City of Sioux Falls and Employment Disability Resources developed the award in 2013 to recognize businesses that employ one or more individuals with a disability.

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Can you spot a phishing scam?

Every day, thousands of people fall victim to fraudulent emails, texts, and calls from scammers pretending to be their bank. And in this time of expanded use of online and mobile banking, the problem is only growing worse.

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