Gulf Coast Bank’s Post

Big goals set out for 2025? Whether you’re saving for a home upgrade, new car, or vacation, a Certificate of Deposit (CD) could be the right tool to help you save. With a CD, you get: ✅ Guaranteed growth. With a fixed interest rate, your money will grow steadily regardless of market fluctuations.  🔒 No temptation to spend. Your money is locked in for a set amount of time, helping you stay committed to your savings plan.  📅 Variety of terms. Choose from different term lengths that fit your timeline.  🏦 Low risk. We are an FDIC Insured Bank, giving you peace of mind. Start saving for next year’s goals with a CD. Reach out today to learn more! American Bank of Freedom. Member FDIC. Equal Housing Lender. NMLS 409183.

Over the weekend, the first bank failure of the year materialized, and the FDIC covered the bill for over 650 million of uninsured bank deposits (balances over 250k) at Republic Bank. While the FED was shrewd and deceptive by shutting this bank down on a Friday after market hours to shield the news from the general public, this failure is very likely a precursor to a much broader banking crisis and contagion spreading to other regional banks. With over 17 trillion dollars of deposits parked in bank coffers across all major banks in the US, it's concerning that the FDIC insurance fund has less than 150 billion to cover uninsured deposits. This raises the question: what happens when these funds are depleted? It's important to note that according to the FDIC, balances above 250k are explicitly stated not to be covered or protected, and as a result, balances over 250k are not safe. Despite this reality, droves of people continue to park balances over 250k at insolvent regional banks and it’s difficult to understand the reason why. Are they subsidizing these failing institutions because they feel compelled to do so, are they unaware of the risks, or do they like earning pathetic yields on their uninvested checking and savings balances? It's a question worth asking, especially since these banks offer minimal benefits to consumers. Recent events have made it crucial to be aware of the potential risks of banking with regional institutions and to consider other options for your finances. As I stated in my last post, risk-off.

Now on stage! 🔥 We’re diving into an insightful fireside chat with Joshua Stallings, Deputy Director of Bank Regulation at the FHFA, and Julie Bowering, SVP of Residential Real Estate Lending at Elements Financial Credit Union. 💬🏡 They’re unpacking the latest FHFA priorities—from FHLB reviews to credit score updates, equitable housing plans, and the evolving landscape of title insurance. 📈✨ This is a must-hear conversation on the changes ahead and what it means for the credit union mortgage market! #MakeYourMark2024 #MortgageIndustry #CreditUnion #HousingMarket #LeadershipChat

Didn't expect to post twice this year, let alone two days in a row! Republic First Bancorp has failed due to a mismatch of assets and liabilities, and an overvalued loan book. Unsurprisingly, only 0.67% of its loan book was deemed non-performing. Most of its assets have been purchased by Fulton Bank. Republic joins a growing list of lenders, including SVB, Signature Bank, Heartland Tri-State, First Republic Bank, and Citizens Bank of Iowa, that have failed for similar reasons. As always, we are here to help both lenders and borrowers navigate these challenging times. https://lnkd.in/dBXwBzGa

Got FHA mortgage insurance? Refinancing to a Conventional program can save you that monthly cost. Let’s put those MI funds toward your financial security. Call me today to learn how!

What if you could reprice the lowest earning mortgages in your portfolio while helping members who want to move but are stuck due to the current rate environment? Wings Financial Federal Credit Union came up with a solution. My buddy Norm Creveling shared Wing's plans back in May of 2023 at a Callahan CLO Roundtable. Last week, when we gathered for another CLO event in Minneapolis (Wing's backyard) Norm shared even more insights now that they have a whole year of results under their belt. If you want to know more about Wing's program - you can learn more on creditunions.com. The program details including criteria, pricing, and promotion ideas are available in the Callahan Policy Exchange on the Callahan Portal. This is the power of #creditunion #collaboration. https://lnkd.in/eQCzi2Au

We don't just have advisers who can do all areas, we have advisers who specialise in each area so you know you get the best advice everytime

Mortgage Insurance can be summarized by the picture below, just keeps getting smaller over time, just like the Big Mac did! Is that really what you want? Let's talk about the pitfalls of what banks try to sell, when all you really need is a licensed agent to talk to. Before I do anything, we talk and then I create a Needs Analysis to see what you actually need for coverage and why, and then I create the policy with the company that makes the most sense for you. Doesn't that sound like the way all policies should be created? Common sense isn't that common it seems! Let's talk! https://lnkd.in/gzTETvng #lovemyagent #experiorfinancialgroup #financial literacy

April is #FinancialLiteracyMonth, and this year's focus is on money matters. Whether you’re renting your first place to live, buying a car, applying for a job or mortgage, or looking for help dealing with debt, Money Matters has the tools we can all use to spot, avoid, and report scams as you venture on your way. https://lnkd.in/guXgHkh8 #AmericanPortfolios #FTC #FinancialLiteracy

When it comes to purchasing a property using an SMSF, there are a number of specific requirements an SMSF member must abide by before the property can be purchased. These include: ✅ A trustee or anyone related to the trustee, cannot live in a residential property that you have purchased through the SMSF. ✅ A trustee or anyone related to the trustee, cannot rent the property purchased through the SMSF. ✅ The SMSF cannot buy a property owned by a trustee or anyone related to the trustee. ✅ The purchase must meet the ‘sole purpose test’ of solely providing retirement benefits to fund members. Fewer financial institutions offer loan products for SMSFs these days due to their complexity. This is why it pays to speak to mortgage brokers such as Sandcastle Finance who can help you structure the loan and check eligibility across our accredited lenders who do offer SMSF loans. If you're finding it difficult to fit into "boxes" some lenders want you to be in, give me a call and let's see whether we can find you an SMSF finance solution that works for you. 📞 0403 852733 #SMSF #financesolution #SandcastleFinance #propertyinvestment #retirementincome #passiveincomesolution