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F&M Newsletter - October 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 October 2003.
Leaving your job because of retirement? Or are you changing professions? Either way, the money in your 401K QRP (qualified retirement plan) is an issue you must think about. It may be tempting to take a lump-sum distribution directly from your 401K. Beware, however, as the IRS requires your employer to withhold 20% of your balance for federal income tax , and if you are under age 59 1/2, you will also be assessed a 10% penalty on the distribution.
Some of the benefits of an IRA are: freedom to choose nearly any type of investment (stocks, bonds, mutual funds), greater flexibility in choosing beneficiaries, and fewer restrictions on how you elect to receive your distributions. Distributions that avoid the 10% tax penalty include distributions for the purchase of a home by first-time home buyers, and the payment of qualified higher education expenses.
Before making any decisions, it is always a good idea to consult with your tax advisor. The professionals at Trust-Mart® will be happy to discuss your retirement account and IRA options with you. Stop by the Farmers and Merchants State Bank and see Betsy Powell, Shirley Rapp or Connie Morrow between 8:30 a.m. and 4:30 p.m. Monday through Friday, or Saturday morning until noon.
Lance Curtis, Prairie City, ran away with honors this past summer. Lance ran in the Quad-City Bix Race with 222 other 9 year-olds, and when it was all over, he’d finished in first place!! Way to go, Lance! It’s nice to see so many of our Hometown Heroes back in town after serving in the Middle East. Farmers and Merchants State Bank and all of Bushnell are proud of each and every one of you, thankful for your safe return home, and appreciate your efforts to keep America and the world safe and free. Kermit and Helen Oliver of Bushnell recently celebrated their 70th wedding anniversary, while Robert and Maxine Perdue of Avon celebrated their 50th, and David and Judy Webb, formerly of Bushnell, celebrated their 40th. We wish all of you many more happy years together. Leland Arter of Prairie City recently celebrated his 90th birthday. We wish you many more, Leland!
The new colored $20 bills sporting a hint of peach, blue and yellow will be available at F & M in mid-October!
If you become incapacitated after you have appointed your POA, then the POA may have to take care of all of your bills, investments, real estate and much more for a very long time. If the POA is your very capable husband or wife, then it’s probably okay. However, if you have named your very busy nephew, who has his own job and family to care for, it could be a difficult task for him. POA’s should keep detailed records, and should act only in your best interests. Sometimes family disputes arise that make it difficult for your POA. What are your alternatives? Check with your attorney to decide what is best for your particular situation. A power of attorney might be right for you. Perhaps an agency account or trust at Farmers and Merchants State Bank will be the best answer. Professional trained trustees and agents, acting for your benefit, will administer your account in correlation with your attorney and accountant as you desire.
Stop by the trust department between 8:30 a.m. and 4:30 p.m. Monday through Friday, or Saturday morning 8 a.m. to noon. Betsy, Shirley and Connie will be available to visit with you and help you determine what type of account best serves your needs.
One of the newest members of our F & M family is the ever-smiling Rachel Martin, who started in April as a full-time teller. Rachel graduated from B-PC High School in 2002, while working part-time at Ludlum Food Mart for four years, and is now taking classes at Carl Sandburg College in the evenings. Rachel’s family includes her parents, Jim and Shirley Martin, a brother, Jamie, a sister, Nichole (and Tony) Donaldson, all of Bushnell, and a sister, Heidi (and Blake) Grafton of Peoria. When Rachel is not working, she loves playing with her niece and nephew, Abbey Donaldson and Tyler Donaldson, her black lab (Tipper) and her cat (Nibbles), spending quality time with her friends and boy friend, scrap booking and collecting stickers. Rachel’s favorite recipes are: NO-BAKE BARS
Put cereals, peanuts and M & M’s in large mixing bowl and set aside. In a saucepan, bring corn syrup and sugar to a boil, and stir until sugar is dissolved. Remove from heat and stir in peanut butter and vanilla. Pour over cereal mixture and toss until evenly coated. Spread in jelly roll pan and cool. Cut in bars and enjoy! 15 MINUTE CHICKEN & RICE
Heat oil in skillet and cook chicken until golden brown. Remove chicken. Add soup, water, paprika and pepper to skillet and bring to a boil. Stir in rice. Top with chicken. Season with extra paprika and pepper. Cover and cook on low heat about 5 minutes, until rice is done. Serves four.
MONKEY BREAD
Cut each biscuit into four pieces. Put white sugar and 1 tsp. cinnamon in dish or plastic bag. Roll or shake each biscuit piece in mixture, and place pieces in greased bundt pan. Melt together the margarine, brown sugar and ½ tsp. cinnamon. Pour over biscuits and bake 35 to 40 minutes at 350º. Remove from pan and serve.
Don’t be duped by national advertisements that advise you to call 1-800-DONOTCALL to be placed on the registry. You will end up paying $2.95 for something that is free if you call the correct number.
If you registered before August 31, telemarketers must stop calling you after October 1, 2003, or you can file a complaint. If you registered after September 1, they must stop calling three months afterwards.
During the 1940s and 1950s GIS expanded beyond its food-related research by developing instruments for the Navy and Army, and developed the Ryan Flight Recorder (the “black box”). In the early 1960s, the Electronics Group was formed, and the “ALVIN” submarine (later used to explore the wreck of the Titanic) was built. Some of General Mills brands and products today include Pillsbury, Green Giant, Progresso, Old El Paso, Betty Crocker, Totinos, Cheerios, Wheaties, Hamburger and Tuna Helpers, Chex Mix, Pop Secret and Yoplait. GIS helps raise money for our schools, too, through its “Box Tops for Education” program. For complete details, visit the company’s website at: www.generalmills.com. GIS recently traded at $46.20, with a P/E (price-to-earnings) ratio of 19. The company pays an annual dividend of $1.10 per share, and has a dividend reinvestment program available. During the past ten years sales have grown from $5.14 billion to $10.5 billion, and earnings-per-share from $1.36 to $2.65. For further information on General Mills, 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.
THANKS, BUT NO THANKS, GOOGLE! Did you know that when you go to the Internet search engine Google and type a telephone number (complete with area code) into the search bar and hit enter, you’ll get that person’s name and complete street address? Follow up by clicking “map” and you get a detailed map to their house. When you are planning a trip you can now look up your friends on the other side of the country and find out where they live. (Note: If a number is unpublished you should not be able to retrieve this information.) 
If you want to block Google from divulging your private information, you can do so. Simply put your phone number into the search bar, press enter, and click on the telephone icon next to your phone number. You will see a link that allows you to remove yourself from this service. Complete the information according to directions, and it will be removed from Google searches.
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For most people, transferring their 401K fund into an Individual Retirement Account (IRA) is the best option. A rollover allows you to continue tax deferral, only paying income tax on money when you retire. You can let IRA funds continue to grow until you are age 70 1/2 before distributions are required and you may still be eligible to make annual contributions.
The F & M family grew in two ways in August! The smiling new face in the teller line belongs to Jennifer Hood, our newest employee, and we will introduce her in more detail in an upcoming issue. 
On August 23rd, our own Sherry (and Kyle) Pico of Avon delivered a beautiful baby boy, Griffen Lane, and he was welcomed home by his big brother, Jack. Then on August 31st, Shirley (and Ron) Rapp of Bushnell became grandparents to handsome little Dawson Wayne (parents Trisha and Todd Pardue of Bowling Green, KY). Welcome to our family, Jennifer, Griffen and Dawson, and congratulations, parents and grandparents, on your newest little miracles! Your fun is just beginning!
Nearly 150 years ago, General Mills Inc. (ticker GIS) was in the works, starting as a flour mill. By 1880 the company had the best flour in the world, Gold Medal, which is still the No. 1 flour in America today. When the stock market crashed in October 1929, General Mills had traded on the NYSE 18 months, and yet the company’s net income rose steadily, and had a reputation for safety, stability and growth.
