First National Bank of South Miami


 
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Online Banking
Use the FNBSM Mobile Banking app to deposit checks, pay bills, transfer/send money, chat with a banker and check balances.
 
To assist you with the changes happening due to Covid-19 we have compiled a list of commonly asked  questions to keep you up to date on the latest changes.
 
Online banking let's you accomplish all your banking from the comfort of your own home. Sign in today to check your balances and move money. 
 

 

Your security is our number one priority!


With the crisis occurring in global politics, we are at heightened risks for cyber-attacks. We want our clients to know how seriously we take financial security. In an age where most losses occur online as a result of cybercrimes, we have continually invested in a security infrastructure that will help keep your money “Safe at First”. Because protecting your finances is our top priority, we provide the highest levels of security, monitoring, encryption, and firewalls. We monitor our IT Systems 24 hours a day for 365 days a year! We don't stop there! Given the critical nature of the risks facing online security, please know that we have increased our vigilance and will be adding additional security measures to secure our financial systems even further.

Here are some tips on how to better protect yourself at home.
  1. Industry security experts recommend the use of a stand-alone computer to perform cash management activities if possible.
  2. Ensure that any computer you use has the latest versions of anti-virus and that all the required operating system security patches are installed and kept current.
  3. You can also add additional layers of protection by ensuring that your account passwords are at least 8 characters long and are comprised of a mixture of upper and lower case characters and symbols. The longer the password, the harder it is to crack. Never use the same password with multiple accounts.
  4. If you need help keeping track, try using a password manager such as LastPass or 1Password.
  5. Another tip which will help you minimize your risk of getting victimized, is to exercise caution when surfing the web. Only visit sites that are known to be safe.

We've provided supplementary ideas that you can consider as additional security layers to protect your assets even further. 

Please refer to the following webpage for all your available options: https://www.fnbsm.com/security-center. We work hard to ensure that your accounts are "Safe at First!". For more information or to enroll in the enhanced security options, please contact our Security & Cash Management Professionals at 305-667-5511.


 

Cryptocurrency Brochure


Before you use or invest in cryptocurrency, FNBSM wants you to understand what makes it different from cash and other payment methods, and how to spot cryptocurrency scams. The brochure “Cryptocurrency, What it is and How it Works” from the Florida Department of Financial Services- Consumer Protection Services, will provide you valuable information and government resources if you engage in cryptocurrency transactions and need to file a complaint, the brochure also describes the risk associated with these transactions”.

 
 

 

Critical Fraud Alert - Keeping Your Money Safe
 
As the holiday season gets into full swing, so do cybercriminals. The December Holidays are the busiest shopping days and bad actors devise new schemes daily to scam you. To keep our clients Safe at First we want to remind you that First National Bank of South Miami will never call and ask you for personal information such as your social security number or account number.

We were alerted by authorities of the latest sophisticated scam of Social Engineering. In fact, the criminals will ‘spoof’ the phone number of a bank, so to the client, it may look like the bank is calling. The caller represents themselves as a banker. Clever and cunning, they use scare tactics, to trick you into providing sensitive information. Then within minutes, money is withdrawn from your account!

If you do not feel comfortable with someone claiming to be from the bank calling, hang up immediately, and contact the bank directly. Never provide any sensitive information that the bank should already have. Be careful when sending money out with Zelle; once it is sent, it is gone and cannot be stopped. Make sure that you know and trust to whom you are sending money. Watch out for phishing attempts via email where a cybercriminal will send an email posing as a legitimate service that you may have registered for and asks you to divulge financial information or log into online banking. In the past week, I have personally received several texts supposedly from Target, Walmart, or Amazon claiming there was a problem with payment information. They send a link hoping that you will provide payment information. Just like that, your money is gone!
 
Here is an excerpt from a law enforcement website…
"The criminal quickly goes through a password reset process and asks the victim to read out loud the one-time-code sent to reset the password. Armed with a set of new credentials, they log into the victim’s mobile banking account; at this point, the user is already locked out of their account. The criminal enrolled to Zelle, asking the user to provide a second one-time code, and then went ahead and made payments of a few thousand dollars from the victim’s account."

The moral of the Story: don’t ever give out your private 7-digit verification passcode!
 
Your financial security and safety is our priority; we have compiled a list of the Top Holiday & Fraud Prevention Cybersecurity Alert Tips:
 
  1. Never provide any sensitive information that the bank should already have no matter who contacts you.
  2. Never provide your personal and private 6 Digit Verification code that is sent to your mobile device. This is for your eyes only.
  3. If you receive a 7 Digital Verification code without attempting to log into online banking contact the bank immediately.
  4. Never use the same password that you use on other websites for your online banking. Use a unique and strong password for your banking accounts.
  5. If sending money through Zelle only send to people you know and trust, remember it's like paying in cash!
  6. Regularly check your banking account to make sure all transactions are correct. You can even setup text alerts that will advise you if there has been any money movement.
  7. Only connect to known Wi-Fi networks; beware of network names that have typos or extra characters. Do NOT use public Wi-Fi services.
  8. Be cautious of email phishing and do not click on links for emails that you do not trust, recognize, or expected.
We hope that everyone stays safe during this tumultuous time; both in terms of personal and financial terms.




Holiday buying cybersecurity tips

 
"It's Holiday Season for the bad guys too! But not the way you might think. They go into scam-overdrive mode. December and the Holiday's are the busiest online shopping days and the bad guys are planning to get rich with your money. So, here are this year's Top 10 Holiday Cybersecurity Alert Tips:
 
  1. Keep all devices up to date with basic security measures to lessen your chance of becoming the victim.
  2. Only connect to known Wi-Fi networks; beware of network names that have typos or extra characters.
  3. Use strong, unique passwords on all accounts. This is a good time to update passwords!
  4. Be safe on all social media; don't overshare and take the time to review your privacy settings on the platforms you use.
  5. Keep an eye on your bank accounts and monitor your credit report regularly.
  6. Be careful with messages regarding shipping changes. Always use official channels to stay updated.
  7. Watch out for holiday greeting cards that may not be the sender you think! Don't open these unless you're certain you can trust who they came from.
  8. Keep devices in view (or know where they are) throughout the course of all holiday travel.
  9. Pay close attention to the websites you visit and shop on. It's safest to only use those you trust.
  10. Be wary of ads, giveaways, and contests that seem too good to be true. These run rampant during the holiday season!
 


 

2021 Economic Outlook Webinar
These are trying times filled with great uncertainty. This informative economic forecast presented by renowned economist Amit Khandwala brings you a plethora of data. Amit is a gifted presenter that delivers these complex concepts and statistics in a manner that is easy to understand. He transfers this information in a manner relatable to you. 

Enjoy the video and please reach out to your FNBSM banker to discuss your options further. We are here to assist you every step of the way. Whether that be with your private banking, financing, investment, trust or estate planning needs.

View the webinar on our YouTube Channel


 
 
 

Preparing for a safe return to school Webinar




Right now, parents struggle with many issues to address as they prepare to have children attend school, either in person or in a virtual world. This program brings together three experts from medical, school administration and social aspects in order to provide practical and timely guidance for parents as they navigate these uncharted and turbulent waters. Our panelists shared their insight on how to help children cope with online learning this school year without having the structure and socialization of a traditional school environment.

View the webinar on our YouTube Channel
 
 
 
  

Payroll Protection Program Most Recent Changes:


Owner Compensation and Self-Employed Individuals:  You will recall that in our presentation on the loan forgiveness application process we highlighted and stressed that within the PPP forgiveness application Schedule A, the SBA excluded “owners” from Table 1, which listed all the employees of the business. At the time it was unclear why.


Interim Final Ruling 20 (IFR 20) now clarifies why and it has to do with establishing a “cap” on owners’ compensation. The SBA explains that in keeping with the spirit of the CARES ACT, Congress did not intend for this program to create a “windfall” for business owners. Therefore, through Interim Final Ruling 20, the SBA has established a maximum forgivable compensation for a business owner and self-employed individual.


For borrowers that will use the 8-week Covered Period, the amount of forgivable compensation for a business owner will be $15,385.

For borrowers using the 24-week Covered Period, the amount of forgivable compensation for a business owner will be $20,833.


Notwithstanding, these fixed amounts and under BOTH scenarios, the maximum will be the lesser of 8/52 of 2019 compensation (24/52 of 2019 for the 24-week Covered Period) or the amounts indicated above.


There was also clarity provided for owner benefits (payroll costs). For self-employed individuals, as well as General Partners, health insurance and retirement benefits are not to be included in payroll costs as they are part of “compensation” and subject to the caps indicated above.


In the case of owner-employees, health insurance is not to be included in the forgiveness amount and the retirement benefit contribution is limited to 2.5Xs the 2019 contribution.


Alternative Covered Period Limited to Weekly or Bi-Weekly Payrolls:

You will recall that to minimize disruption in how businesses managed their payroll, the concept of an Alternative Covered Period was introduced when the forgiveness application was first introduced.  At the time there did not appear to be any restrictions on which businesses could elect to use an Alternative Covered Period. With the most recent changes, it seems that the SBA is limiting the use of an Alternative Covered Period exclusively to those companies with weekly or bi-weekly payrolls. This means that if your business pay cycles are any other than weekly or bi-weekly, you are going to have do some more computations to align your forgivable costs with the Covered Period.


A “Simplified” Forgiveness Form:

For those businesses that can avail themselves of certain Safe Harbor provisions or who have not adversely affected either the number of employees or reduced wages by more than 25%, there is an abbreviated forgiveness form that you may use. Factors to consider for the EZ application; you can use the 3508 EZ Form if any of these 3 statements are TRUE:


  1. You are self-employed, an independent contractor, or a sole proprietor who had NO employees at the time of the PPP loan application and you did NOT include any employee salaries in the computation of the average monthly payroll when you applied for the PPP Loan.


-or-

  1. You did not reduce any employee annual salary or hourly wages by more than 25% during the Covered Period or the Alternative Covered Period when compared to the period Jan. 1, 2020 through March 31, 2020. Here an employee means anyone who during any payroll period in 2019 earned less than $100,000 annualized.


AND


You did not reduce the number of employees or the average paid hours of employees between Jan. 1, 2020 and the end of the Covered Period or you can avail yourself of the Safe Harbor exemptions. The Safe Harbor exemption allows you to exclude any employees that were reduced if you were unable to rehire individuals who were employees on Feb. 15, 2020 by Dec. 31,2020 or you were unable to hire similarly qualified employees for the unfilled positions by Dec. 31, 2020.


Another exemption allows you to exclude the employee from your computation if the employee was offered to be restored to Pre-Covid hours and he/she refused. Remember that documentation is important in these situations.


-or-

  1. You did not reduce any employee annual salary or hourly wages by more than 25% during the Covered Period or the Alternative Covered Period when compared to the period Jan. 1, 2020 through March 31, 2020. Here an employee means anyone who during any payroll period in 2019 earned less than $100,000 annualized. 


AND


Your business was unable to operate during the Covered Period at the same level of business activity as before Feb. 15, 2020 due to compliance with requirements established or guidance issued between March 1, 2020 and December 31, 2020 by the Secretary of Health and Human Services, the Director of the Centers for Disease Control and Prevention, or Occupational Safety and Health Administration, related to the maintenance of standards of sanitation, social distancing, or any other work or customer safety requirement related to Covid-19.


So, when should you apply forgiveness?

With the change from 8 weeks to 24 weeks covered period, a December 31, 2020 vs. June 30, 2020 Safe Harbor date, and the many allowable exemptions for excluding reductions in FTE (Full Time Equivalent employees) there really should be no reason why the vast majority of businesses that received PPP would not be entitled to full forgiveness.


There is talk in Washington D.C. that Congress is entertaining a “blanket” forgiveness for all PPP Loans less than either $250,000 or $150,000. It is expected that this may occur by the end of July. A blanket forgiveness would greatly reduce the work of gathering the information, making the computations and applying for forgiveness. It would certainly also help the banks reduce their review and approval requirements significantly.


With all this said, we believe that a good target date to start accepting PPP Forgiveness applications and documentation for our clients is August 17, 2020. This will ensure that we have given Washington an opportunity to act on behalf of our small business community and ensure that we are able to have a smooth and complete forgiveness process in place for our clients.


At First National Bank of South Miami our goal is to provide you with the maximum amount of information to make this process as efficient and simple for you.  These government programs tend to be confusing and complex. Remember that we do not offer accounting, legal nor tax advice and you should always seek assistance from your accountant or lawyer for specific concerns that relate to your business.

observing juneteenth
What is Juneteenth?
Juneteenth is the oldest known celebration honoring the end of slavery in the United States.
On June 19, 1865, the Union army arrived in Galveston, Texas to announce that all African American slaves in the state were free in accordance with President Abraham Lincoln’s Emancipation Proclamation. Texas was the last state in the Confederacy to learn that the Civil War had ended and that slavery had been abolished.
In 1980, the Texas legislature made Juneteenth an official state holiday. Currently, 46 U.S. states and the District of Columbia mark the occasion as a holiday or a day of observation.
Just this month, several corporations and institutions like Nike and the NFL have announced plans to recognize Juneteenth as a company holiday.
“... all persons held as slaves within any State or designated part of a State, the people whereof shall then be in rebellion against the United States, shall be then, thenceforward, and forever free; ...” – President Abraham Lincoln, Emancipation Proclamation.




SBA PPP Calculator

Download our SBA Paycheck Protection Program Qualification Calculator. The calculator can help you calculate an estimate of how much you can receive with an PPP loan.4




CARES Act Zoom Conference Series

Last week FNBSM hosted several Zoom webinars covering details about the CARES Act and the SBA Payroll Protection Program (PPP). The series received overwhelming response. To say that these times are challenging and stressful is the understatement of the decade! FNBSM has worked quickly with our most talented bankers to bring you this webinar series. We are elated that our local community businesses found the information useful and timely. 
 
As your community bank since 1952, we are proud to bring you this needed financial relief in a timely and expedited fashion. Our task force worked for days analyzing hundreds of documents and the ACT itself to understand how we can play a vital role in YOUR recovery form this economic crush. If you would like to replay the video from one of our webinars, you will find it here:
 
 
We stand ready to assist you through these difficult times. WE are proud to be community bankers focused on you, our clients and on our community. We thank you for CHOOSING FNBSM. WE KNOW THAT YOU HAVE A CHOICE. WE WORK TO EARN YOUR LOYALTY EACH AND EVERY DAY.
 
Feel free to share this presentation material with others. We are happy to support their needs as well.
 
 
 
 
 

Are you ready for the CARES Act provisions?

As you may be aware The US government is preparing to send out direct payments to help individuals amid the coronavirus pandemic. The first payments are expected go out within three weeks to those for whom the Internal Revenue Service already has direct deposit information on file. It was added that a web portal would be established for people to supply their details and that checks would be sent to anyone else, but did not specify a timeline. In order to be ready for the stimulus check you can download the FNBSM Mobile App and request to enroll your accounts in mobile deposit. 
 
Download our mobile app available for iOS and Android:1
 
Download App on Apple App Store Button Download App on Google Play Store Button    


 
 
 
 

Learn more about the SBA Payroll Protection Program (PPP) and other loan assistance programs

 

What Is the Paycheck Protection Program

Recently added as an SBA loan program, the Paycheck Protection Program provides federally-guaranteed loans to eligible small businesses. Loans can be up to $10 million and may be partially forgivable. These loans are intended to help small businesses retain employees throughout and after the Coronavirus (COVID-19) crisis.2
As dictated by the CARES Act, the SBA will commit to helping small business owners across America borrow $349 billion. The Paycheck Protection Program covers operational expenses beginning February 15, 2020 and ending on June 30, 2020.

You can apply for your Paycheck Protection Program loan as early as Friday, April 3, 2020.
 

 
 
 
 

Be on the lookout for SBA Fraud Attempts

 

Social Engineering Based on Stimulus Covid-19

 
Please be on High Alert as cyber criminals are taking advantage of the recently
passed Stimulus Bill. Social engineering is at an all time high and unfortnatley
bad guys take advantage of situations at the worst time. First National Bank of South Miami
will never ask you to email or provide sensitive account or personal information electronically.
Please becareful when receving an email from an uknown source with attachments and 
do not click the link unless you were expecting that email. All news related email from FNBSM 

 

 

 
 

Operational Changes

 
Our top priority is our valued stakeholders especially our clients and our staff. Social distancing is very critical to help our country level the curve and help slow down the spread of this horrible virus. We continue to take steps to do our part. We know that you may be anxious about your financial health and needs. To assist you with your immediate financial needs we have made a few changes
 
Banking Operational Changes
 
  • Increased ATM withdrawal limits
  • ATM fee waivers
  • Increased mobile deposit limits

New Branch Hours of Operation
 
  • Coral Gables and Doral offices closed.
  • South Miami Lobby and Drive-thru weekday hours: 9am to 4pm
  • Please call ahead or schedule an appointment online prior to visiting South Miami lobby for better service.
  • The Falls office weekday Drive-thru hours: 9am to 4pm. No access to the lobby.
 
Although we are reducing our hours of operations in order to safeguard our staff please know that our bankers are available to assist you with any needs or concerns you may have via phone, online chat, or email. Our bankers have full access to address your banking and investing needs. Please feel free to reach out to them. 
At FNBSM your health and well being is our very top priority. Please call us if there is anything we can do for you. 
 


Branch office hours of operation changes: 

 
As we continue to navigate the coronavirus and the safety of our employees and clients we have made changes to our operating hours. To find out the new schedule of our branch network and operating hours please click on the button below. We have also updated our Google listings to reflect the new hours.
 


Special message from our COO Veronica B. Flores

 
 
As we continue to navigate the global health and economic challenges caused by the coronavirus outbreak, please know that our priority is to continue our long-standing commitment to provide exceptional service to our clients while protecting the health of our employees. We continue to closely monitor coronavirus developments and have taken several precautionary measures to minimize the risk to our clients, colleagues, families, and others.
Our Actions Include:
 
• Remote Access. In line with best practices, we are vigorously enhancing our staff’s ability to work remotely so that we may continue to provide excellent customer service if we cannot be physically present at our offices. In addition, to reduce the spread of the virus we immediately began to conduct internal and external meetings virtually.

• Business Continuity. We have maintained a preparedness and continuity program for many years, and we will continue to update it to account for the changing challenges presented by COVID-19 and the needs of our clients. We are operating at full capacity and we will continue to provide uninterrupted and high-quality service using the technology and protocols we have put in place.

• Business Impact. More than a month ago we launched a task force with our senior officers to address issues arising from COVID-19, and to provide proactive business guidance for affected clients.

In this difficult and unprecedented time, the safety and well-being of our employees, clients, and communities remain our highest priority. Our thoughts are with all those directly impacted by the coronavirus, especially our health care professionals who are on the front line of this health crisis.


Special message to our clients

 

Coronavirus


We are closely monitoring the evolving circumstances related to the Coronavirus (COVID-19). A dedicated task force has been created and meets daily to review the most current guidance from the Centers for Disease Control and Prevention (CDC), World Health Organization (WHO), and state and local authorities and make proactive adjustments to our preparedness and response plan.
 
Please be assured that we are keenly focused on our business continuity and ability to provide the service and support you depend on daily. We will provide ongoing updates as necessary.
 

Employee Wellbeing


We have established a company-wide reporting process to identify any employee with emerging symptoms consistent with the flu or Coronavirus and take immediate actions to reduce exposure to other associates. Business and personal travel of our associates is being monitored. We will impose a CDC-recommended self-quarantine for those returning from locations of concern.
 
We have communicated with our staff the recommendations from the CDC on hygiene recommendations in order to control the spread of the virus in our workplace. We have provided Lysol, Clorox and Purell products for all areas. We have requested that any sick employees stay home to avoid transmission in the workplace. We have even taken the steps to request that clients who are clearly ill with respiratory issues to please allow us to serve them either in the drive in, via phone, or online in order to reduce the likelihood of the virus in the bank premises, thus protecting our clients and our staff.
 

Business Continuity

 
While the actual impact of the evolving Coronavirus is unknown at this time, we have proactively reviewed our business continuity plans and do not anticipate any scenario that would impede our ability to meet our business continuity obligations. We have prepared and tested our preparedness and ability to respond to scenarios like this.
 

Client Business Continuity Plan Reviews

 
We strongly encourage our diverse clients to carefully evaluate their business continuity plans based on the potential and unique impact of the Coronavirus.
 

Market Jitters


COVID-19 has been an important contributor, albeit not the sole contributor, to the turmoil on Wall Street. We continue to see a rise in the number of cases and a corresponding increase in deaths. We are seeing most major governments taking decisive actions including restricting travel and entry. We recognize that there is no imminent vaccine and that test kits are at a premium. The elderly and the infirm are being asked to “stay-home” and to stay away from large groups. All of us are being asked to reconsider travel within confined quarters, like cruise ships.
 
For the markets, the medical aspect is not the only driver. The key driver of the market’s free fall of Monday, March 9th is (was) the economic impact. It is expected that the consequences of the virus will directly translate to lower expectations of global and US GDP (Gross Domestic Product) growth for 2020.
 
While we continue to believe that the virus will eventually be contained, the economic impact will be much harder to estimate. Estimates are that the virus may shave 0.5% to 1.0% off global GDP in the short run and a 0.1% to 0.2% US GDP reduction. We already are seeing supply-side disruptions as fewer working hours result in lower output. Demand will be impacted too, particularly for services.
 

Travel and Tourism


The cruise industry has seen the greatest impact and has been the most visibly affected by the virus as we see ships turned away from ports of call and some having to wait out the incubation period to ensure that they have contained the virus. Trips are being cancelled and not many people are booking new cruises. We have our leaders warning against taking cruises, particularly if you are a senior citizen or have health conditions.
Hotels and Airlines are also feeling the brunt of the virus. Conventions are being cancelled. Companies are restricting or discouraging travel. Families are canceling vacations. Travel and Tourism represented 7.8% of the US GDP in 2018.
 

Supply Chain


115,000 people have been confirmed to have contracted the COVID 19, and there have been nearly 4,000 confirmed deaths. Those are today's (March 10) numbers based on Johns Hopkins interactive map on the reported cases of coronavirus.
 
The issue for the global economy is that fewer people are out on the streets (eating, shopping, and spending money), fewer people are working, and fewer people are making our much-needed materials to supply goods that the world uses. Those goods that may been end-products or part of the supply chain.
 
We acknowledge that the events of the last two weeks can be concerning and even stressful. Since February 19th, when the Dow closed at 29,348, the index has declined by 5,497 points or 18.7%.
 
Rather than panicking, this is a time to take a deep breath and reassess your portfolio and your long-term strategies.
 
So, what is happening? Why has the market reacted in this way?
 

Productivity and Spending


With so much concern over the virus individuals and companies are recommending that when someone feels cold or flu symptoms to stay home. Also, families are no doubt undoubtedly concerned and thus staying home more and going out less.
 
These clearly are not all the factors, but you can see how they snowball into major concerns concerning regarding the economy and a potential recession.
 
Adding to the global concerns surrounding the coronavirus the market was hit Monday with concerns over a possible oil war between Saudi Arabia (OPEC) and Russia. Fueled by sinking demand amid the worldwide spread of the coronavirus and slowing economy, this weekend Saudi Arabia asked the Russians to limit their production of oil as part of a price stabilization strategy. Russia responded with “Nyet!” As a result, the Saudis cut their prices, effectively launching a three-way price war between the OPEC oil-producing alliance, Russia, and the US. While this can be good for the consumers, it is not good for the oil industry and related businesses.

Remaining Calm


While it may be hard to do, even as you read this, let allow us get you there. Our Bank works with investors and not speculators. We are Wealth Managers and not brokers. As a result, we take a long-term view of the markets and profess having a financial plan, utilizing an asset allocation model that aligns with your investment objectives and risk tolerance, and re-balancing your portfolio periodically. For those clients that follow this long-term strategy, here are some perspectives and recommendations that should help you breathe a little easier.
 
 
While it’s difficult to give back anything (especially wealth) it does periodically occur. Was the market too optimistic at the 29,000 level? Did it rise too fast?
 
On consider February 19th (Dow at 29,348) the Dow was positioned to grow by almost 15% over the prior 12-month period. Despite having given that growth back (and then some) the overall market has grown in the last 5 years, on average, 7% or 34% point to point. Not as impressive as it would have been had we not seen this decline, but certainly impressive considering investments options of only cash or only cash and bonds.
 
While volatility can be scary and unsettling it is important to put these past couple of weeks in perspective and to look towards history for guidance. Since 1948 the S&P 500 has averaged intra-year declines of 13.4%. Yet in 51 of those 70 years the market ended up positive.
 
 

COVID 19 and other Virus epidemics


This is not the first time this has happened. We have experienced many epidemics that have affected our economy. But time and again, once the issues were quantified the market consistently recovered and often within 6 months. In fact, only the HIV / AIDS epidemic took longer to recover.
 

Time in the Market


We believe that "Time in the Market" trumps "Timing in the Market", and this is why we continue to advise our clients to:
 
1. Create a financial plan with your long-term Needs, Wants and Wishes.
2. Periodically review your financial plan with a Certified Financial Planner.
3. Work with a Wealth Strategist to develop an investment strategy that fits your long-term goals.
4. Meet periodically (at least annually) with your Wealth Strategist and Financial Planner to discuss performance as well as any changes in your Needs, Wants or Wishes.
5. Trust your Wealth Strategist to re-balance your portfolio as necessary to meet your investment objectives.

This may still not answer all your questions and some factors may still be somewhat confusing. It’s important that you are comfortable and satisfied with your investment strategy. If you still have concerns or would simply like us to address your specific situation, we recommend that you call us. We are here to help you through these and all times.
 
Since 1952 we have been trusted advisors to our clients and have helped them with their individual and family needs.3
 
We encourage you to access your account from home 24/7 using Our online and Mobile App to view transactions, check balances, make payments, transfers and more. We've made a number of enhancements that make it easier than ever to manage your accounts digitally.
 
If you are well and visit our offices, please know, our teams are available to serve you, as always. We've augmented daily cleaning procedures with the use of stronger disinfectant products on high-touch surfaces, have made hand sanitizer readily available, and are educating branch teams on best practices recommended by the CDC.
 
 
 
¹ Availability may be affected by your mobile device’s coverage area. Mobile Deposit is supported on Android mobile devices running OS 4.4+, iPhone® and iPad® running iOS 7.0+. Data rate charges from your service provider may apply. First National Bank of South Miami is not responsible for these charges.
Android and Google Play are trademarks of Google Inc.
App Store is a service mark of Apple Inc.
FNBSM helps protect your information by using 128-bit SSL encryption technology within mobile banking sessions.
Deposit products offered by First National Bank of South Miami, Member FDIC, Equal Housing Lender NMLS # 568851

2 SBA loans are in participation with the SBA
2 This is not a commitment to lend
 
3 Trust and Investment products are not insured by the FDIC; Not guaranteed by the Bank, subject to investment risk, including possible loss of principal.
 
4 This calculator is provided for informational purposes only. The terms incorporated into the calculator are subject to the requirements of the U.S. Small Business Administration Paycheck Protection Program and may change and is subject to review by FNBSM.