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Huntington, Indiana – Bippus State Bank is excited to announce the groundbreaking of its new Operations Center located at 2871 NorthPark Avenue, Huntington, IN. The state-of-the-art facility groundbreaking took place on July 29^th, 2024, attended by the bank’s board members, upper management, and key contributors who have supported the bank’s vision for the Operation Center.

The new 15,000 square foot facility, which will span two stories, enhances the bank’s operational efficiency to better serve customers. The building will also include a spacious community hub, multiple conference and meeting rooms, dedicated workspaces, and outdoor seating space. “This new Operations Center represents our commitment to investing in Huntington and ensures our employees have the resources they need to excel,” said Eric Fawcett, President and CEO of Bippus State Bank. “We are proud to create a workspace, designed by Design Collaborative, which reflects the bank’s innovative spirit and supports our goal of continued growth in Huntington and our surrounding communities.” Bippus State Bank has chosen FCI as the general contractor for this project with an estimated completion set for August 2025.

About Bippus State Bank: Bippus State Bank is a leading financial institution dedicated to providing personalized banking solutions to individuals, businesses, and communities. With a strong commitment to customer service and community development, Bippus State bank strives to be a trusted partner in achieving financial goals. Banking with Bippus is Banking with Confidence.

April 20,2024 – Bippus State Bank today announced the retirement of Matt Wilcox from its Board of Directors. Concurrently, the bank is pleased to welcome James Khan as the newest addition to its Board of Directors.

Having served on the Board of Directors since May 2011, Chairman of the Board, Ryan Warner stated, “Matt has played an instrumental role in guiding Bippus State Bank through the fluctuations of the banking industry.” The bank extends its heartfelt gratitude to Matt for his dedicated service and invaluable contributions to the institution.

Commenting on the retirement of Matt Wilcox, President and CEO, Eric Fawcett said, "Matt’s wisdom, insight, and unwavering commitment have been instrumental in shaping our institution's success. We are deeply grateful for his years of service and wish him all the best in his well-deserved retirement."

Chairman Warner is also announcing that James Khan has been elected to the Board of Directors of Bippus State Corporation and The Bippus State Bank. James is a highly regarded businessperson and entrepreneur in the Fort Wayne business community. With experience and expertise in the business sector. Serving as the President and proprietor of BakerStreet Steakhouse, Proximo, and The Hoppy Gnome, alongside his involvement in business consulting, planning, sales, management, and development, Khan brings a diverse skill set and a proven record of accomplishment. His appointment to the Board of Directors at Bippus State Corporation underscores a strategic decision to capitalize on his insights and abilities as the bank continues to navigate and thrive in the dynamic financial services landscape.

“We're thrilled to welcome James Khan to our board! With his wealth of experience and visionary leadership, we are excited for even greater achievements ahead,” said Eric Fawcett, President, and CEO of Bippus State Bank.

James Khan joins an esteemed group of industry leaders and professionals on the Bippus State Bank Board of Directors, each dedicated to upholding the bank's mission of

“Bippus State Bank is a community bank that creates meaningful customer relationships, fosters employee development and maintains shareholder confidence by providing premium financial products and services.”

About Bippus State Bank: Bippus State Bank opened for business on July 22, 1911, in the heart of the small rural community of Bippus in Huntington County, Indiana. The bank currently has five locations in Huntington and Wabash Counties.

April is Financial Literacy Month, a time dedicated to raising awareness about the importance of understanding finances and making informed financial decisions. While financial literacy is crucial for individuals of all ages, instilling these principles in children is especially impactful. As parents and educators, we can shape the financial habits of future generations, setting them on the path towards a secure and prosperous future.

Why Does Teaching Kids to Save Matter?

1. Building Financial Habits: Saving is a cornerstone of financial stability. By introducing the concept of saving early on, children learn to prioritize their spending, distinguish between needs and wants, and cultivate disciplined saving habits that will serve them well into adulthood.

2. Understanding Delayed Gratification: Saving teaches children the concept of delayed gratification – the idea that they can wait and accumulate resources to achieve their goals. This essential skill empowers them to resist impulse purchases and make thoughtful decisions about how to allocate their money.

3. Preventing Debt: In today's consumer-driven society, easy access to credit can lead to debt problems later in life. Teaching kids to save instills a mindset of spending within one's means, reducing the likelihood of falling into debt traps as adults.

4. Building Financial Confidence: As children see their savings grow over time, they develop confidence in their ability to manage money effectively. This confidence lays the foundation for more complex financial decisions they'll face as they grow older.

Tips for Teaching Kids to Save

1. Lead by Example: Children often emulate the behavior of their parents and caregivers. Demonstrating responsible financial habits, such as budgeting, saving, and avoiding unnecessary debt, sets a powerful example for kids to follow.

2. Set Savings Goals: Help children set realistic savings goals based on their interests and aspirations. Whether it's saving for a toy, a bike, or a college fund, having tangible goals motivates them to save consistently.

3. Provide Opportunities for Earning: Encourage children to earn money through age-appropriate tasks or chores. By earning their own money, they develop a sense of ownership and are more likely to value the importance of saving.

4. Teach the Value of Comparison Shopping: Teach children to compare prices and look for deals before making a purchase. This teaches them to be savvy consumers and stretch their savings further.

Financial literacy is a gift that keeps on giving, and there's no better time to start imparting these invaluable lessons than during Financial Literacy Month. By teaching kids to save, we empower them to take control of their financial futures, make informed decisions, and ultimately achieve their goals. Let's commit to equipping the next generation with the tools they need to thrive in an increasingly complex financial landscape.

As the snow melts away and we begin to thaw, March brings with it a sense of renewal and possibility. Here are some valuable tips and strategies to navigate your financial journey. We can embrace the month of March with open arms as we delve into some key topics and considerations to help you stay on track towards your financial goals.

With tax season upon us, it’s essential to ensure you’re prepared and organized. Take the time to gather all necessary documents, such as W-2 forms, investment statements, and receipts for deductible expenses. Consider consulting with a tax professional to maximize your deductions and minimize your tax liability. Additionally, explore tax-advantaged retirement accounts, such as IRAs and 401(k)s, to optimize your long-term financial planning.

Now is an excellent time to review your investment portfolio and make any necessary adjustments. Assess your asset allocation, risk tolerance, and investment performance to ensure they align with your financial goals. Consider rebalancing your portfolio to maintain diversification and manage risk effectively. Stay informed about market trends and economic indicators that may impact your investment decisions.

Building and maintaining an emergency fund is crucial for financial security and peace of mind. Evaluate your current emergency fund balance and aim to have at least three to six months' worth of living expenses saved. If you haven't already done so, set up automatic contributions to your emergency fund to ensure consistent savings over time. Remember, unexpected expenses can arise at any moment, so being prepared is key to weathering financial storms.

Just as you declutter your home during spring cleaning, take the opportunity to declutter your finances as well. Review your recurring expenses and identify any unnecessary subscriptions or services that you can cancel or renegotiate. Consolidate accounts and streamline your financial paperwork for greater efficiency and organization. By simplifying your financial life, you'll have more clarity and control over your money.

This March, remember that every step you take toward financial wellness brings you closer to achieving your dreams and goals. Stay focused, stay disciplined, and stay committed to your goals. We’ll continue to provide you with valuable insights and guidance to support you along the way!

Starting a small business is exciting, but it comes with a unique share of financial challenges. From cash flow issues to funding growth, small business owners often find themselves navigating a complex financial landscape. In this blog post we have compiled practical tips and strategies to help small business owners overcome common financial challenges and build a strong foundation for their business.

The importance of cash flow is crucial to the survival and success of a small business. It ensures the funds are available to support operations and enables planning and decision-making. There are some ways you can track your cash flow like, creating a cash flow forecast, monitoring, and tracking your expenses, invoice promptly and follow up on payments, manage inventory effectively, and creating an emergency fund. These tips will be helpful to your small business especially during a slow season, which is important to plan for as well.

Funding your small business can be intimidating. There are many options to consider. Small businesses loans are a common choice where you can borrow a specific amount of money from a bank or financial institution and repay it with interest over a period. Other options for funding include grants, crowdfunding, angel investors, venture capital, business credit cards, and friends and family. Each funding option has its own requirements so it’s important to research which option best suits your business.

One tip to managing debt is to borrow responsibly. Evaluate your needs before you borrow so that you know how the funds will contribute to the success of your business. Having a repayment plan for those borrowed funds is also important. Be sure to set up a payment plan that fits within your budget. Having a good relationship with your lender is always an advantage, especially if you encounter difficulties.

There are many tools for small businesses to utilize when managing money. QuickBooks and Xero are common accounting software that can help manage your businesses financial transactions, invoices, expenses, and generate important financial reports. Budgeting tools like Mint or You Need allow you to create budgets, track spending and plan for future expenses. Invoicing software like FreshBooks and Zoho allow you to create professional invoices and track payments.

As a small business, you often will find yourself encouraging people to shop locally. Local community banks are often deeply rooted in the community and strongly support new businesses coming to town. Local banks tend to have personable staff, better rates, and products that compete well with bigger banks.

    By proactively addressing financial challenges, small business owners can position themselves for long-term success. Whether it’s optimizing cash flow, securing funding, or embracing technological solutions. The key is to stay informed, adapt to changing circumstances, and build a resilient financial foundation for your small business.  

We know you’ve been looking for a way to get your tax documents online. Have no fear, you can now receive your tax documents through our online banking platform via eStatements. What are the benefits to this? We thought you might ask. Let's explore the benefits of opting for online tax documents over the traditional paper method.

1. Instant Access and Timely Delivery

One of the most significant advantages of receiving tax documents online is the instant access to essential financial information. Rather than waiting for paper documents to arrive in the mail, online delivery ensures that you receive your tax documents promptly. This can be particularly crucial as tax deadlines approach, allowing your ample time to review organize, and prepare your taxes with out any delays.

2. Environmentally Friendly

Choosing tax documents online helps with the global movement towards sustainability. Going paperless significantly reduces the environmental impact associated with the production, printing and transportation of paper documents. By opting for digital delivery you are playing a part in the conservation of resources and help minimize your carbon footprint.

3. Enhance Security Measures

Security is a top priority at Bippus State Bank when is come to your financial information. Our online eStatements involves secure portals and encrypted communication channels to ensure confidentiality and integrity of your personal information. This level of security surpasses the potential risk associated with traditional mail delivery, reducing the likelihood of your documents falling into the wrong hands.

4. Convenience and Flexibility

Online tax documents offer convenience and flexibility. Whether you are traveling, working remotely, or simply prefer managing your finances digitally, online access allows you to view and download your tax documents from anywhere. This flexibility helps you stay on top of your financial responsibilities without being confided to a specific location.

Transitioning to estatements and receiving your tax documents online is a smart move that aligns with the modern era’s digital advancements. Tax season is complex, choosing the online route can simplify the process and contribute to a more efficient and eco-friendly landscape. January 31^st, 2024, is the deadline to sign up to receive your 2023 statements. If you miss that deadline, we would love for you to still sign up to receive future statements. For 2023, all tax documents will also still be sent via United States Postal Service.

Huntington, Indiana (February 23, 2022) – Bippus State Corporation (the “Company”), the holding company for The Bippus State Bank (the “Bank”), today announced the completion of its private placement of $5 million of its 3.75% Fixed-to-Floating Rate Subordinated Notes due 2032 (the “Subordinated Notes due 2032”) and $5 million of its 4.25% Fixed-to-Floating Rate Subordinated Notes due 2037 (the “Subordinated Notes due 2037”, and together with the Subordinated Notes due 2032, the “Notes”) to certain qualified institutional buyers and accredited investors.

“We are pleased to announce the completion of a $10.0 million subordinated debt offering, the proceeds of which will be used for general corporate purposes, including to support our continued growth and regulatory capital ratios of the Bank and repurchasing shares of common stock of the Company,” said Eric D. Fawcett, President and Chief Executive Officer of the Company and the Bank. The Subordinated Notes due 2032 will initially bear interest at a fixed annual rate of 3.75% for the first five years and will reset quarterly thereafter to what is expected to be the then current three-month SOFR rate plus 211 basis points. The Subordinated Notes due 2037 will initially bear interest at a fixed annual rate of 4.25% for the first ten years and will reset quarterly thereafter to what is expected to be the then current three-month SOFR rate plus 250 basis points. The Notes are intended to qualify as Tier 2 capital for regulatory capital purposes for the Company.

Performance Trust Capital Partners, LLC served as the sole placement agent. Krieg DeVault LLP served as legal counsel to the Company and Smith Amundsen, LLC served as legal counsel to the placement agent.

This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, any security, nor shall there by any sale in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The indebtedness evidenced by the Notes is not a deposit and is not insured by the Federal Deposit Insurance Corporation or any other government agency or fund.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the federal securities laws. Statements in this release that are not strictly historical are forward-looking and are based upon current expectations that may differ materially from actual results. These forward-looking statements, identified by words such as “will,” “expected,” “believe,” and “prospects,” involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. These risks and uncertainties involve general economic trends and changes in interest rates, increased competition, changes in consumer demand for financial services, the possibility of unforeseen events affecting the industry generally, the uncertainties associated with newly developed or acquired operations, market disruptions and the potential effects of the COVID-19 pandemic on the local and national economic environment, on our customers and on our operations as well as any changes to federal, state and local government laws, regulations and orders in connection with the pandemic. The Company undertakes no obligation to release revisions to these forward-looking statements publicly to reflect events or circumstances after the date hereof or to reflect the occurrence of unforeseen events, except as required to be reported by applicable law.

Contact:

Eric D. Fawcett
President and Chief Executive Officer
(260) 356-8900