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F&M Newsletter - April 2004
We have a monthly publication, which we send to our customers. If you'd like to receive our newsletter by regular mail, let us know. Otherwise, we'll keep the latest version here. These are the articles from April 2004.
Would you like to refinance your existing mortgage to take advantage of low mortgage rates? Do you need to update or remodel your existing home? Or are you interested in purchasing or building a new home? While residential real estate loan rates remain at historic lows, F & M has a multitude of loan options and can tailor one especially for you. Farmers & Merchants State Bank offers fixed rate loans with amortizations up to 30 years. Low down payment plans are available, and you can make your payments at your hometown bank. Farmers & Merchants State Bank continues to offer adjustable rate mortgages with competitive rates. These loans feature initial rates fixed for five years that are then adjustable. Amortizations up to 25 years are also available.
If spring fever has you wishing for a new home or remodeling project, or just wanting to take advantage of low rates, F&M has the program to cure the fever! Do you want to try to shrink your house payment? Does the birth of those twin boys make you feel like your house shrank in size? As your last teenager goes off to college and the ‘empty-nest’ syndrome sets in, do you feel like your family has shrunk to the point that you need a smaller house?
Whatever your needs, stop by the Farmers and Merchants State Bank loan department. Patricia, Don or Doug are here to assist you Monday through Friday, 8:30 AM to 4:30 PM, and Saturday morning 8:30 AM to noon. With over 70 years of loan experience, they can create a loan package especially foryou!
If you lose your job you will need cash. However, nearly half of American households are not prepared for emergencies, and do not have a savings account or make regular contributions. Instead, they drain their retirement savings pools. When you face an unexpected emergency, contemplate your other options before you touch your retirement account.
Stop by the loan department at Farmers & Merchants State Bank and ask Pat, Don or Doug for assistance if you are considering refinancing your home mortgage. They will discuss your options and work with you. Start saving “for that rainy day” and ask Susan, Debbie, Missy, Rachel, or Kathy D. in F & M’s bookkeeping department to help open your savings account. Save as little as $20 a week now while you’re working, and in less than a year you will have over $1,000, a nice emergency fund. If an emergency never arises, and you continue to save, you will not only feel good about yourself, but your retirement years will be more comfortable than you’d originally planned!
Several local residents recently celebrated milestone wedding anniversaries, including Bob and Pauline Roark (62 years) of Bushnell, Harry and Shirley Nicholas (52 years) of Bushnell, Jack and Phyllis Sublett (51 years) of St. Augustine, Gene and Joann Hickenbottom (51 years) of Bushnell, and Richard and Evelyn Wolf, Sr. (50 years) of Abingdon. F & M sends special anniversary wishes to each of you! Recent birthday celebrations included Clifford Connor (101 years) of Macomb, Mildred Hobbs (90 years) of Bushnell, Berneice Huffman (90 years) of Bushnell, George Swartzbaugh (82 years) and Daisy Swartzbaugh (80 years) of Marietta, and Hillis Howard (82 years) of Avon. Birthday wishes are extended to each of you from Farmers & Merchants State Bank.
Bushnell-Prairie City High School graduation will not be held Memorial Day weekend this year. It has been scheduled a week earlier, Sunday, May 23rd. Mark your calendars. On February 24, our own Melissia (and Tug) Reimolds of Bushnell, delivered a beautiful baby girl, Tessa Lee. Congratulations, Missy and Tug! Now the fun begins!! While you are doing your banking at Farmers & Merchants State Bank, you can get your blood pressure checked. The next visit is Friday, May 7th,10 a.m. and 11:30 p.m.
Our own Debra Powell will celebrate on April 10th. Yes, Debbie will observe her 15-year service anniversary at F & M that day! Many of you may think you remember her longer ago than that. Well, you’re right. Actually Deb provided Farmers & Merchants State Bank with six additional years of service from 1981 to 1987 before leaving, and then returning to the bank in 1989. Good luck on the next 15 years at F & M, Debbie!
Dan Cortelyou joined Farmers & Merchants 25 years ago this coming July. He served as its auditor, comptroller, and Sr. Vice President before becoming President. Dan was born to Bob and Shirley Cortelyou, grew up in Bushnell, and graduated from B-PC High School, Southern Illinois University and the Graduate School of Banking in Colorado. Dan and wife Pat have two sons, Darrin and Derek, a daughter, Monica, and two grandchildren, Myles Cortelyou and Rebecca Cortelyou. When Dan is not working at the bank, he serves as the Bushnell city treasurer (19 years), on the executive committee and as treasurer of MAEDCO, and on the Enterprise Zone Committee. To avoid letting any grass grown under his feet, he mows his yard twice a week, fishes (summer and winter) and hunts deer and turkey. Being a staunch Cardinal baseball fan (to aggravate the Cub fans!) and Rams football fan, Dan attends a few games each season. Dan cooks a number of the meals served at his home and some of his favorite recipes include:
Beat egg whites until stiff. Beat yolks and add about 1 lb. powdered sugar. Beat until fairly stiff. Gradually add and mix egg yolks to egg whites. Use one jigger of brandy and one teaspoon of rum per serving. Add hot water and a dash of nutmeg to each cup before serving.
Brown hamburger. Add green beans and soup. Pour into greased 1½ qt. casserole dish. Prepare potatoes for four and drop by mounds on top of meat mixture. Sprinkle with cheese and bake 25 to 30 minutes at 350º.
Mix one cup sugar, egg yolk and vanilla into cream cheese. Spread one package crescent rolls in 9” x 13” pan to cover the bottom. Apply cream cheese mixture evenly over rolls. Press the remaining crescent rolls on top, sealing together the seams. Bake 30 minutes at 350º. Sprinkle remaining sugar and cinnamon on top and serve.
Ruby Tuesday, Inc. (ticker RI) owns and operates a chain of about 430 casual, full-service restaurants concentrated primarily in 25 states in the Southeast, Northeast, Mid-Atlantic and Midwest. RI also franchises over 200 units, including 19 internationally. Ruby Tuesday began operating in 1972 in Knoxville, Tennessee, and was sold in 1982 to Morrison restaurants. In March 1996, Morrison’s spun off the family dining business to its current shareholders. RI recently traded at $31.31 with a 52-week trading range of $16.65 to $32.95. The price-to-earnings ratio is 21.6 and the company pays an annual dividend of $0.05 per share. Since the spin off in 1996, revenues-per-share have increased from $8.88 to $14.19, and earnings-per-share from $0.28 to $1.36. The long-term debt is currently $201.8 million, about a 30% debt-to-capital ratio. Ruby Tuesday recently announced plans to be the first national restaurant chain to provide information (calories, fat grams, carbohydrates, dietary fiber, etc.) on all food items on its menu, including appetizers, entrees and desserts. The program will be implemented this month, and clearly supports recommendations of the FDA’s Obesity Working Group regarding restaurant nutritional labeling. For further information on Ruby Tuesday, Inc. or any investment, please contact Shirley Rapp or any of the professionals of Trust-Mart® to help you implement your investment decisions.
*This column is informational only, with no investment advice given or intended. Investments in securities are not insured by the FDIC, and involve risk, including the possible loss of principal. All material presented is compiled from sources believed to be reliable, but accuracy cannot be guaranteed. Before buying any security, its prospectus should be carefully read. Trust-Mart© is a full-service trust department of the Farmers and Merchants State Bank of Bushnell, Illinois.
The Bushnell Sesquicentennial Museum, located at 454 E. Main, Bushnell, is now open. During April it will feature spring cleaning and home gardening items and tools, and household items. Museum hours are Monday to Saturday, 11 a.m. to 5 p.m. and Sunday 1 p.m. to 4 p.m. If you have an item that you could loan or donate to the museum, please contact Peggy Hood.
After you visit downtown Bushnell’s newest museum, head just a few doors north and view Farmers & Merchants State Bank’s front window display. It contains many items nearly a century old!
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In addition to these first mortgage products, the bank offers home equity and home improvement loans. Either of these products present a variety of options, that once again can be customized to your wants and needs.
