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We are committed to helping our impacted customers with our Covid-19 Relief Program.

04.03.2020

UPDATE: Fill Out Your Small Business Relief Application

Small Business Customers, we are prepared to work alongside you and figure this out together.

There is no need for you to physically come to the bank for us to support you with the many relief options available through the CARES Act. We will gladly facilitate all necessary paperwork through our website, so you can easily initiate your relief application from your computer, tablet or mobile device.

To begin your Covid-19 Relief Application, please fill out the form on the link below. Our team will contact you as soon as possible.

Start Small Business Relief Application

Paycheck Protection Program

Last week the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (or the CARES Act). The CARES Act created the Paycheck Protection Program PDF Download (or PPP). Under this program, banks will be able to help offer small businesses relief in the form of forgivable loans guaranteed by the Small Business Administration (or SBA) to eligible small businesses in amounts up to $10 million (with the actual amount based on the borrower’s average monthly payroll and certain other costs in the previous year).

PPP Borrower Application Form

Paycheck Protection Program

  • $349 Billion Small Business Administration (SBA) loan program 
  • Three month program administered by banks in partnership with SBA ending June 30
  • SBA guaranteed 

How it Helps You

  • Provides an alternative to furloughs or layoffs to ride out the COVID-19 storm
  • Allows eligible businesses to cover payroll, mortgage, rent, utilities


Eligibility:

  • Small businesses with less than 500 employees as well as non-profits, sole proprietors and independent contractors

Loan Terms:

  • 2.5x the average monthly cost of payroll incurred over the last twelve months, not to exceed $10 million
  • 1% maximum rate without pre-payment penalty and generally full deferral for up to one year of principal and interest for six months
  • Unsecured and no guarantees required

Loan Forgiveness:

  • To be forgiven, loans must be used for payroll expense, mortgage interest, mortgage obligations, rent and utilities in the 8 weeks following disbursement   
  • Note: the amount subject to forgiveness is reduced if the borrower reduces its workforce or employee compensation

How to Prepare:

  • Gather payroll documentation for 2019 and 2020 year-to-date
  • After loan is funded, track 8 weeks of mortgage interest, mortgage payments, rent & utilities (loan forgiveness)
  • Note: The CARES Act is unclear on (1) how a borrower demonstrates eligibility for a PPP loan and (2) the documentation needed to calculate the loan amount. The SBA guidance is expected to clarify these issues, thus borrowers should gather this payroll documentation now due to high demand

Please contact your OMB community banker if you have any questions. We will continue updating our website as more information becomes available. 

04.02.2020

UPDATE : CARES Act for Coronavirus Relief

On Thursday, April 2, 2020, the Treasury Department issued final guidance for the Paycheck Protection Program, which starting this week will provide up to $349 billion in fully forgivable loans to help small businesses maintain payrolls during the coronavirus pandemic.

Small businesses and sole proprietorships - generally, those with 500 or fewer employees - may apply for PPP loans with their bank starting on Friday, April 3; independent contractors and self-employed workers can apply starting April 10. PPP loans will be fully forgiven when used for payroll costs, interest on mortgages, rent and utilities, with at least three quarters of the forgiven amount being used for payroll; forgiveness is based on employers maintaining headcount or quickly rehiring and maintaining salary levels.

For important information from the Treasury Department, including guidance and an application, please see the following links:

Information Guidance for Borrowers 

Application Form

Learn more at treasury.gov/cares

Please contact your Renasant Banker if you have any questions.

Last week the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (or the CARES Act). The CARES Act created the Paycheck Protection Program (or PPP). Under this program, banks will be able to help offer small businesses relief in the form of forgivable loans guaranteed by the Small Business Administration (or SBA) to eligible small businesses in amounts up to $10 million (with the actual amount based on the borrower’s average monthly payroll and certain other costs in the previous year).

 

Paycheck Protection Program

  • $349 Billion Small Business Administration (SBA) loan program 
  • Three month program administered by banks in partnership with SBA ending June 30
  • SBA guaranteed 

How it Helps You

  • Provides an alternative to furloughs or layoffs to ride out the COVID-19 storm
  • Allows eligible businesses to cover payroll, mortgage, rent, utilities


Eligibility:

  • Small businesses with less than 500 employees as well as non-profits, sole proprietors and independent contractors

Loan Terms:

  • 2.5x the average monthly cost of payroll incurred over the last twelve months, not to exceed $10 million
  • 1% maximum rate without pre-payment penalty and generally full deferral for up to one year of principal and interest for six months
  • Unsecured and no guarantees required

Loan Forgiveness:

  • To be forgiven, loans must be used for payroll expense, mortgage interest, mortgage obligations, rent and utilities in the 8 weeks following disbursement   
  • Note: the amount subject to forgiveness is reduced if the borrower reduces its workforce or employee compensation

How to Prepare:

  • Gather payroll documentation for 2019 and 2020 year-to-date
  • After loan is funded, track 8 weeks of mortgage interest, mortgage payments, rent & utilities (loan forgiveness)
  • Note: The CARES Act is unclear on (1) how a borrower demonstrates eligibility for a PPP loan and (2) the documentation needed to calculate the loan amount. The SBA guidance is expected to clarify these issues, thus borrowers should gather this payroll documentation now due to high demand

Please contact your OMB community banker if you have any questions. We will continue updating our website as more information becomes available. 

 

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03.31.2020

CARES Act for Coronavirus Relief

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), is designed to provide comprehensive relief to individuals and businesses following the unprecedented impact of COVID-19 on our communities. The Act includes approximately $2 trillion in assistance, and comes as welcome news to many - news that may save their business or help them regain personal financial stability.

$350 billion is allocated to help small businesses keep workers employed amid the pandemic and economic downturn. We're learning all the details in an effort to be ready to support you in this time of need. As a locally-owned community bank, we're well positioned to do so. Here’s what we know:

Paycheck Protection Program is a major component of the (CARES) Act which provides 100% federally guaranteed loans to small businesses. The loans may be forgiven if small business borrowers maintain their payrolls throughout the crisis or restore their payrolls afterward.

While all of the details of the Act are not yet defined, as a leading SBA lender, we are here to assist you with your financial needs. A summary of the program is below:

Eligibility

  • A small business with fewer than 500 employees
  • A small business that otherwise meets the SBA’s size standard
  • A 501(c)(3) with fewer than 500 employees
  • An individual who operates as a sole proprietor
  • An individual who operates as an independent contractor
  • An individual who is self-employed who regularly carries on any trade or business
  • A Tribal business concern that meets the SBA size standard
  • A 501(c)(19) Veterans Organization that meets the SBA size standard

Loan Amount

  • Loans can be up to 2.5 x the borrower’s average monthly payroll costs, not to exceed $10 million

Loan Forgiveness

A borrower is eligible for loan forgiveness equal to the amount the borrower spent on the following items during the 8-week period beginning on the date of the origination of the loan:

  • Payroll costs (using the same definition of payroll costs used to determine loan eligibility)
  • Interest on the mortgage obligation incurred in the ordinary course of business
  • Rent on a leasing agreement
  • Payments on utilities (electricity, gas, water, transportation, telephone, or internet)
  • For borrowers with tipped employees, additional wages paid to those employees
  • The loan forgiveness cannot exceed the principal.

What You Can Do Now

Reach out to any OMB teammate to discuss your business and your current needs. If you do not have an existing relationship with us, please schedule an appointment to speak with one of our SBA experts.

For more information, view the “Coronavirus Emergency Loans Small Business Guide and Checklist” provided by the US Chamber of Commerce, or visit https://www.sba.gov/.

 

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03.30.2020

Committed to Supporting our Customers and Communities.

During this challenging and uncertain time, our priority is to provide you the best service and support. We know this current situation is not only impacting your everyday lives, it’s also putting an economic strain on many of our business and consumer customers; some of this strain is immediate and some will likely continue into the future.

To support our small business customers we have been proactively reaching out to understand each specific situation. We have also spoken with many residential mortgage customers who are experiencing an immediate and material economic impact. Whether you are an individual or a business, we are committed to being right there with our customers during this challenging time.

On top of our own financial strength, all deposits continue to be fully insured by both the FDIC and the Depositors Insurance Fund (DIF), which covers anything in excess of the FDIC insurance.

By choosing us as your banking partner, for your business and your household, you have helped us get to where we are today. Many of you have been with us from the beginning. As a locally-owned community bank, we have always tried to take the long-term view. We did that during the financial crisis of 2008 and we will do that now. Our purpose is to help our customers the best we can through this challenging period.

Together, we’ve got this.

Your OMB Community Bank Team

 

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03.25.2020

Our next step.

For weeks our team has been preparing - working tirelessly to make sure we were prepared to serve you. Our commitment to innovation and technology has allowed us to continue our bank operations with a large number of teammates working remotely and a minimal number on-site. We are committed to providing a healthy and safe banking environment for our team, our customers and our communities. With a resilient history, our bank remains safe and sound.

Our community leaders and elected officials have provided great care for all of us during this public health crisis. Consistent with direction provided by the City of Springfield and Greene County, our lobbies will remain temporarily closed. 

As your trusted financial partner and neighbor, we understand this is an uncertain time. Our team is prepared and eager to assist with your banking needs as we navigate this temporary environment together. Please continue to use all of the tools with Online Banking and Mobile Banking on your devices as we all #StayHome. We have enhanced our services available through the drive-thru that you would normally conduct inside an OMB location, and remain available for other essential services by appointment. 

Please visit the locations page of our website for the phone number of your local OMB location. For access to essential services required within a branch, contact your local banker to make an appointment.

Together, we’ve got this. We are #417strong.

Mark A. Harrington
President and CEO
Old Missouri Bank

 

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03.20.2020

We know one thing for sure – we’re stronger together. That's why we've partnered with our friends over at 417 Magazine, who are working nonstop to bring us the #417strong blog. We love it and are thankful for their care of our community. 

Lots of great tips to help you work from home, stay in shape & a dining guide to help you support our small business owners! This is just the start - make this a daily go-to as we all come together to fight this.

Remember, we are here for you – we’re all in this together, and together, we will be stronger than ever.

 

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03.17.2020

COVID-19 UPDATE

The call to action is stay home and we are committed to doing our part. Beginning on Wednesday, March 18, we are following the recommendations of our community health experts and will be practicing social distancing.

Regular lobby hours will be suspended at all OMB branch locations to prevent the spread of this virus throughout our communities. Please make your transactions through our drive-thru windows or by using our Online Banking or Mobile Banking platforms.

To visit a teammate in person or to access your safe deposit box, please call your local OMB branch to make an appointment at a time that works best for you during our regular lobby hours. Our limited lobby access will remain in effect until further notice.

Together, we’ve got this.

Your OMB Community Bank Team

 

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A note to our business customers …

We know that the spread of COVID-19 is impacting many of our small business customers. Small businesses are vital to our community. We will help all of our customers bounce back from this public health crisis as quickly as possible.

If you’re experiencing financial hardship as a result of COVID-19, we’re here to help. Please give us a call at 417.869.9000 or email us at [email protected].

 

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Frequently Asked Questions:

  • What are your hours of operation?
    • 24/7 with:
      • Online Banking     
      • Mobile Banking
      • You’ll be able to:
    •  
    • Drive-thru hours are:
      • Springfield – South National
        • Mon – Fri: 7:30am – 6:00pm
        • Saturday: 9:00am – 12:00pm
      • Springfield – Sunshine Street
        • Mon – Fri: 7:30am – 6:00pm
        • Saturday: 9:00am – 12:00pm
      • Ash Grove
        • Mon – Fri: 7:30am – 6:00pm
        • Saturday: 9:00am – 12:00pm
      • Carthage
        • Mon – Fri: 7:30am – 6:00pm
        • Saturday: 9:00am – 12:00pm
      • Mt. Vernon
        • Mon – Fri: 7:30am – 6:00pm
        • Saturday: 8:00am – 12:00pm
      • Buffalo
        • Mon – Fri: 8:00am – 6:00pm
        • Saturday: 8:00am – 12:00pm
      • Walnut Grove
        • Mon – Fri: 9:00am – 3:00pm
        • Saturday: Closed
    • For directions to branch locations, visit our Locations page

 

  • Where are your ATMs located?
    • We have over 24,000 ATMs nationwide – find your closest MoneyPass ATM.

 

  • What do I do if I have lost my Debit Card?
    • No problem! Please contact your local branch or email us at [email protected] for quick assistance.
    • Our instant issue cards will be available for pick up at our South National – Springfield and Carthage drive-thru locations.
    • If we are mailing a new card, please expect arrival in 7 to 10 business days.
    • Don’t forget about CardValet – turn your Debit Card on and off from the convenience of your phone.

 

  • What do I do if I have forgotten my PIN or I want to change the PIN for my Debit Card?
    • Please call 1.800.992.3808 to reset or change your PIN.

 

  • What is my daily Debit Card withdrawal or purchase limit?
    • $1,005 is the daily limit for an ATM withdrawal.
    • $1,500 is the daily limit for a Point-of-Sale purchase.

 

 

  • What do I do if I need to reorder my checks?

 

 

  • What if I am locked out of Online Banking or have forgotten my password?
    • Please call our Electronic Banking team at 417-761-7181 or email our Electronic Banking team at [email protected].

 

 

  • How do I make a wire transfer?
    • All wire transfers will be made at our drive-thru locations during regular drive-thru hours.
    • If you are unable to visit a convenient drive-thru location, please contact your local branch or email [email protected] for assistance.

 

  • How do I make a withdrawal on my CD/IRA or access my safe deposit box?

 

  • How will transactions that cannot be performed at an ATM or drive-thru be handled?
    • Any transactions requiring additional assistance will be completed by appointment only during this time. Please contact your local branch or email [email protected].

 

  • How do I get a cashier’s check?
    • All cashier’s checks will be made at our drive-thru locations during regular drive-thru hours.

 

  • How do I open a new personal checking account, savings account or CD?
    • You can open a new account in minutes via our website – it’s easy!
    • Or, if you would like to meet with a personal banker, please contact your local branch or email [email protected] to make an appointment.

 

  • How quickly will my funds be available after a deposit?
    • Our general policy allows you to withdraw funds deposited in your account on the first business day after the day we receive your deposit. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the first business day. Then the funds will generally be available by the ninth business day after the day of deposit.

 

 

Be alert and protect yourself from scams.

Your financial safety is our number one priority. The Federal Trade Commission is urging consumers to be watchful of potential scams attempting to exploit the heightened concern and uncertainty associated with the Coronavirus. To learn more, visit the FTC website.

 

Please use this page as a resource for updates, changes or site-specific service interruptions. You can also follow us on Facebook, Twitter, Instagram and LinkedIn for timely updates.

Above all, we are here to assist you. Thank you for your continued trust.

 

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03.16.2020

To our valued OMB customers,

At OMB, we consider our partnerships in the communities we serve across Southwest Missouri as a top priority. To this end, we are closely monitoring the impact and spread of the coronavirus (COVID-19) and following recommendations by the Centers for Disease Control and Prevention (CDC).

While we recognize the disruption to our everyday lives, this situation that calls for all of us to take precautionary measures to ensure the safety and well-being of our teammates, our customers and our communities.

One of our core values states, “We value our people.”  With this in mind, we have taken the following actions to help our team navigate through this unprecedented situation:

  • Reinforced healthy habits and encouraged employees to closely monitor their health and well-being
  • Provided guidance with regards to travel, in-person meetings and events
  • Encouraged the use of “social distancing” and collaborative meeting tools
  • Implemented temporary "no handshake" and "no hug" greetings

Our Commitment to You

At OMB, our teammates remain committed to delivering an exceptional customer experience. As always, we have a variety of products and services to meet your immediate needs.

If you are not currently enrolled to bank with us 24/7, you can do so quickly and easily by visiting our online banking enrollment page at www.OldMissouriBank.com. You may also contact us anytime during normal business hours (8 a.m.-5 p.m. Monday-Friday) at 417.869.9000.

In addition to keeping our services fully available to you, we are proactively taking the following actions:

  • We are reinforcing plans to ensure strong operational support across our markets so we are prepared to address potential developments and maintain business continuity.
  • We are in close contact with our business customers as you evaluate the potential impact for your business and plan for current and future needs.
  • We are maintaining our focus on risk monitoring and management.
  • We are monitoring the financial markets and industry updates on your behalf.
  • We are actively working with our business partners to ensure they are prepared to meet their obligations to you.

We will continue to closely monitor this situation and do all we can to protect you and our team. At OMB, we understand you because we work and live alongside you every day. We know that prioritizing the care of our customers and taking care of our team are the biggest reasons behind our continued success – those operating principles are core to who we are, and will not change in the face of this public health crisis.

As our communities continue to feel the increased impact of COVID-19, we will continue to make investments to best support our teammates and customers in light of this pandemic.

As always, our sincere thank you for being a loyal OMB customer.

Mark A. Harrington
President & CEO
Old Missouri Bank