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F&M Newsletter - November 2003
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 November 2003.
Harvest season is nearly over. You’ll soon be cleaning your equipment and putting it away for the winter. Now is the time to review your financial needs, both current and future. Interest rates on real estate and equipment are as low as they’ve been in decades, and you may never see them this low again in your lifetime. Many of you have postponed equipment purchases because of the sluggish farm economy. With the bountiful crop and these historic low interest rates, now may be an excellent time to update. The F & M loan department personnel will work out a finance program just for you. A recent IRS change in the amount of immediate tax deduction (depreciation) allowable for equipment purchases may be an additional favorable factor. Check with your tax advisor or the F & M tax experts at Trust-Mart®. This is also a good time to take a look at your operating needs for the upcoming crop year. Is your present source of operating funds providing you with the service and rate you deserve? At F & M we pride ourselves on “high-touch, personalized service” as well as competitive rates. If you have a land purchase in mind, now is a great time to make a decision because of the low interest rates. F & M offers a vast selection of real estate financing options, including state and federal guarantees. If you have already made a purchase and your loan has a variable rate that is no longer competitive, you may be able to reduce your expenses by refinancing at Farmers and Merchants.
Whatever your financing needs, we can help you with flexible terms that will meet your needs. Call Don, Doug or Patricia today at (309)772-2171.
Support your Bushnell stores this holiday season and help support and preserve your community! One extra purchase in town will make a difference, will retain jobs and will provide tax monies for your community.
A few of the bigger birthdays recently observed were Hulda Boden (106) of Prairie City, Aleen Caylor (91) of Avon, and Merideth Filbert (91), Henry (Lee) Howerter (85) and Maxine Howerter (78) all of Bushnell. Best wishes to each of you!
What coin is about to change for the first time in 65 years? The nickel! Yes, the U. S. Mint is moving quickly in hopes of producing a redesigned nickel in late 2003, and again in 2004 and 2005. The “heads” side will continue to bear images of President Thomas Jefferson, and the “tails” side will show images emblematic of the bicentennials of the Louisiana Purchase and the Lewis and Clark expedition. In 2006, the nickel will return to the current depiction of President Jefferson on the “heads” side and his home, Monticello, on the “tails” side. This is a new century, and coin collectors will now have the opportunity to accumulate newly designed nickels, in addition to the 50-state quarters program. Farmers & Merchants will have these nickels as soon as they are available.
Members of the Bushnell Historical Society are assembling a book of photographs and stories covering Bushnell’s history. If you have a story or photograph you would like to share, please send it to Bushnell Sesquicentennial History, P. O. Box 53, Bushnell, IL 61422. A few restrictions include: (1) Send only copies of photos or documents, as originals will not be returned. (2) Attempts will be made to give credit for material and information provided, but cannot be guaranteed. (3) The book drafting committee reserves the right to edit all material at all stages of production. (4) All materials must be submitted no later than December 1, 2003. (5) The book will include the history of the city of Bushnell, not histories of individual families. (6) Any profits arising from the sale of the Bushnell Sesquicentennial History will be used solely for the celebration and/or the Bushnell Historical Society.
Two souvenirs commemorating the sesquicentennial will soon be available for purchase. One is a 10-inch utility pottery crock with the sesquicentennial logo emblazoned on the side. Monmouth Pottery is making the crocks, and they will be ready for purchase this month, in plenty of time for Christmas gifts. The second item is a coffee mug with a 3-D logo etched on the side, and should be ready for purchase by the end of this year. Other souvenir items will be available sometime next year, and will help provide funds for the celebratory events scheduled in 2004.
One of the newest members of the Farmers & Merchants family is Jennifer Hood. This ever-smiling young lady was born to Michael and (the late) Vickie Bartlett, raised in Bushnell, and graduated from B-PC High School in 1999. Jennifer’s family also includes a brother, Jason, who is in the National Guard and attends Spoon River College. Jennifer worked at Ludlum Food Mart for six years before coming to F & M as a teller at the drive-in. She and her husband, Justin, and daughters, Haley (4) and Sarah (2) reside in Bushnell, and when Jennifer is not at work, her number one priority is spending time with her family. She also enjoys watching football and hockey games (especially the Peoria Rivermen), and scrapbooking if time allows. A couple of Jennifer’s favorite recipes are: CREAMY SPINACH DIP
Combine ingredients. Mix well and chill before serving. Serve with assorted vegetables of your choice.
PASTA SALAD
Cook pasta as directed, until tender. Soak pasta in one cup cooking oil for 10 minutes. Chop cucumber and tomato. Add all ingredients to pasta and toss. Chill several hours, or over night if possible.
Did YOU get a check? Farmers & Merchants State Bank mailed out 167 Christmas Club checks recently. Those customers who saved regularly may now have a less stressful Christmas season, knowing that many of their gift purchases are already paid for. Plan now for Christmas 2004. Open a Christmas Club with a minimum deposit of $5, or save as little as $20 a week and receive a check next November for over $1,000. Let F & M pay you interest on your money, instead of you paying interest to your credit card company.
Come see Susan, Debbie, Becky, Kathy or Missy today at the F & M bookkeeping department. Saving now can make your pre-paid Christmas in 2004 a reality.
Helen of Troy recently traded at $23.90 per share, a price-to-earnings (P/E) ratio of 13.2, and a 52-week trading range of $8.20 to $27.20. The company’s long-term debt is $55 million with a debt-to-capital ratio of 16%. HELE earnings-per-share have increased from $.35 to $1.32 in the past ten years, with sales-per-share increasing from $4.80 to $16.26 during the same period. Total sales have also increased from $123 million to $510 million in the past ten years. HELE does not pay a cash dividend. However, the company’s board of directors authorized the repurchase of up to three million shares of outstanding stock, which should help boost shareholders’ value. For further information on Helen of Troy Ltd. 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.
YEAR-END TAX PLANNING! The earlier you start, the fewer headaches you’ll have when it comes to year-end tax planning. Here are a couple of strategies you can use to help reduce your tax burden at the end of the year. Gifting. You are permitted to gift $11,000 per year per person without it becoming a taxable event. Capital gain. If you sold an investment during the year that realized a capital gain, consider rebalancing your portfolio. If you have an investment that has not performed well, you may want to sell it to take the loss and offset your gain. Net losses in excess of $3,000 can be carried forward to offset capital gains in later years. Roth IRA conversion. If you plan to convert your traditional IRA to a Roth IRA, do so before you start collecting Social Security. The converted funds are counted as income when figuring taxes due on Social Security.
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Friends in Motion
Several really big anniversaries recently celebrated included Henry (Lee) and Maxine Howerter (62 years) of Bushnell, Richard (Doc) and Dorothy (Dort) Frank (60 years) of Bushnell, Bert and Marilyn Parker (55 years) of Sun City, Arizona, and Murrel and Kathy Hollis (40 years) of Bushnell. We hope each of you celebrate many more happy years together!
(Mom's recipe)
Helen of Troy Ltd. (ticker symbol HELE) is a leading designer, producer and marketer of brand name personal and hair care consumer products. The company’s products include hair dryers, curling irons, hair setters, shavers, brushes, combs, foot baths, body massagers, paraffin baths and skin care products. The HELE consumer products are distributed to retailers under trademarks including Vidal Sassoon, Revlon, Dr. Scholl’s, Sunbeam, Sea Breeze, Hot Tools, Hot Spa and Salon Edition to name a few. The Company acquired Brut in September 2003, and expects to acquire six brand names from Proctor & Gamble in the near future.
