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Tips to Freshen up Your Budget First Bank Clients: Are you using your MyMoney tools in online banking? MyMoney Manage your budget, track your spending, and modify your debt payback plan - all from your First Bank online banking account. Learn how Start with your (e)mail. Do you have a system for keeping your mail organized and sorted? Credit card and loan statements, bank statements, bills, and receipts can pile up quickly. An organized mail area in your home is the first step in keeping track of your bills and expenses. Bring that cleaning momentum into your email inbox and organize your e-statements too. If your email inbox is piling up, it might be time to clean it out. Here are a few email cleaning suggestions. Tally up your monthly expenses. You can use paper and a pencil, a spreadsheet, or budgeting software. Choose a method you are most comfortable with and get started. If you search for budgeting templates in Google, you’ll find a seemingly endless number of options. A template similar to this option from Microsoft is a good starting point for logging your expenses in a spreadsheet. Check in with your automatic and recurring transactions. Many utility providers, subscription services, and credit cards offer automatic payment options. Autopay enrollment is a great way to ensure you won’t miss a payment, but it can become easy to lose track of where your money is being spent. If you like the convenience of automatic payments but want to keep a better eye on those transactions, consider enrolling in Bill Pay. At First Bank, our Bill Pay system allows you to manage all of your payments from one place. Learn more about First Bank Bill Pay here. Predict your variable expenses. Examples of variable expenses are food, gas, clothing, pet care, prescriptions, etc. that change each month. These are more difficult to pin down, but there are a number of ways to do it. You can either look into the past and add up expenses from each spending category, or you can track those expenses moving forward in real time. Whichever your preference, having a strong understanding of how much you should be spending on non-fixed expenses each month will give you a more accurate picture of your discretionary spending. For a list of common personal budgeting categories, click here. Refine your debt repayment and savings goals. It’s hard to choose between prioritizing debt repayment or saving for the future. While you want to avoid paying unnecessary interest and penalties on your debts, it’s also important to have an emergency savings fund so that you’re less likely to incur more debt when unexpected expenses arise. Many experts recommend having enough saved to cover 3-6 months of expenses. First Bank offers a number of savings account options so that you can keep that money separate from your checking account. Did you know that First Bank credit cards offer $0 balance transfer fees? Here is a helpful calculator to see if a First Bank credit card is right for you. If you’re struggling with making your debt payments, you’re not alone. Our bankers understand that circumstances can be tough and everyone has a different financial story. We want you to feel comfortable talking about you finances and confident in creating a successful path forward. Please reach out to your local First Bank and we’ll do what we can to help you get back on track. Use your discretion. With recent cost of living increases, your typical discretionary expenses are most likely also increasing and could be throwing off your budget. Depending on your debt and savings goals, you might want to readjust your discretionary spending to allocate more for debt payments and savings deposits. MyMoney: Your First Bank Advantage If you’re a First Bank client, log in to your online banking account and explore the Financial Tools section (also known as MyMoney). This service will create a budget snapshot for you. To ensure accuracy, you’ll want to link all of your active banking accounts and customize your spending categories. Find MyMoney instructions here. One of our favorite ways to use MyMoney is to select the ‘Trends’ tab and view your monthly trends by category. You’ll have a nice breakdown of each expense category with the amount spent shown per month. 4 min read

Hurricane Helene Recovery: Financial Assistance Options 1. U.S. Small Business Administration (SBA) Disaster Loans The SBA offers a range of disaster loans to individuals, businesses, and nonprofit organizations to cover losses not covered by insurance or FEMA. These loans help cover both personal and business expenses that could have been met had the disaster not occurred. October 15, 2024 Update: The SBA announced that it has exhausted funds for its disaster loan program. Until Congress appropriates additional funds, the SBA is pausing new loan offers. The SBA is encouraging individuals and small businesses to continue to apply for loans given assurances from congressional leaders that additional funding will be provided upon Congress’s return in November. Click here to read the press release. Home Disaster Loans: Available to homeowners and renters to repair or replace damaged real estate and personal property, including vehicles. Business Physical Disaster Loans: These loans are designed for businesses of all sizes to repair or replace damaged property owned by the business, such as real estate, machinery, equipment, and supplies. Private non-profit organizations like charities and churches are also eligible. Economic Injury Disaster Loans (EIDL): These are working capital loans designed to help small businesses, agricultural cooperatives, aquaculture businesses, and private nonprofits meet financial obligations they can’t cover due to the disaster. These loans are meant to support recovery during the disaster recovery period. For more information, visit the SBA Disaster Assistance website or contact them directly. 2. FEMA Disaster Assistance FEMA offers a wide range of financial assistance programs for those impacted by natural disasters. If you have insurance, file a claim immediately, as FEMA cannot cover losses that are already insured. FEMA provides grants for: Temporary housing Home repairs Other disaster-related expenses not covered by insurance You can apply for FEMA assistance online or by calling 800-621-3362. 3. Disaster Unemployment Assistance (DUA) Individuals who have lost their jobs or had their employment interrupted due to Hurricane Helene may be eligible for Disaster Unemployment Assistance (DUA). This program extends unemployment benefits to those who may not be eligible for state unemployment, such as the self-employed or small business owners. To qualify, you must: Live, work, or were scheduled to work in a federally declared disaster area. Have lost employment or had employment interrupted due to the disaster. Have exhausted regular state unemployment benefits. Eligibility is determined weekly, so you must continue to be out of work as a direct result of the disaster to maintain benefits. Visit the Disaster Unemployment Assistance page of the NC Department of Commerce website for more information about this program. 4. Freddie Mac, HUD, and FHA Mortgage Assistance If your home has been affected by Hurricane Helene and you are struggling to make mortgage payments, Freddie Mac, HUD, and the FHA offer mortgage relief options. These include: Forbearance plans to temporarily suspend or reduce your mortgage payments. Loan modifications to make your mortgage more affordable over the long term. Mortgage assistance programs designed specifically for disaster recovery. Contact your mortgage provider to inquire about disaster relief programs available through these organizations. 5. NC Bankers Association Disaster Relief The NC Bankers Association provides resources and guidance for individuals and businesses impacted by disasters. Through their network, they can help you access financial institutions offering relief, including special loan programs and deferral options for existing debts. It’s worth reaching out to your local bank or lender to inquire about specific programs that may be available to you. Visit the Hurricane Helene page of the NC Bankers Association website for a comprehensive list of resources. 6. WNC Strong: Helene Business Recovery Fund – Mountain BizWorks In response to Hurricane Helene, the WNC Strong: Helene Business Recovery Fund, led by Mountain BizWorks, is providing financial relief for businesses across Western North Carolina. This fund is designed to support local businesses that were impacted by the hurricane, offering critical recovery resources, including: Low-interest loans to help businesses rebuild. Emergency financial support to address urgent needs like working capital, repairs, and more. Mountain BizWorks is a community-focused lender that helps small businesses in the region thrive, even in the face of disaster. They are committed to supporting business owners through the recovery process with accessible financing options. Visit their website for more details on how to apply. 7. SBA Microlenders for Business Recovery The SBA also partners with microlenders across the country to provide small loans, typically up to $50,000, to businesses in need of capital. These loans can help cover immediate business needs such as payroll, inventory, and repairs. In the wake of Hurricane Helene, these microlenders are valuable resources for small businesses that may not qualify for traditional financing options. To find an SBA microlender in your area, visit the SBA Microlender List. 8. Western North Carolina Small Business Initiative Appalachian Community Capital has partnered with Community Development Financial Institutions (CDFIs) to provide relief grants to small businesses harmed by Hurricane Helene. The grant program is called the Western North Carolina Small Business Initiative. Small businesses can apply for grants up to $25,000 to cover expenses related to recovery and reopening including repair and replacement of physical damage, environmental cleanup, payment of business-related rents or mortgages, employee retention and hiring, and more. The application window for this grant is from October 30 through November 27, 2024. For more information and to apply, visit their website here. First Bank is Here to Help If you have any questions about these resources, our bankers are more than happy to help you navigate the questions you may have. Recovering from Hurricane Helene is a challenging process, but these resources are designed to provide financial relief when it’s needed most. If you’ve been affected, be proactive in exploring the options available to you, from disaster loans to mortgage forbearance. While the road to recovery may be long, these programs can ease some of the financial burdens and help you rebuild your life or business. 5 min read

The Benefits of Checking Accounts with Online Access Out of all the factors that tend to influence our decisions regarding financial management, levels of convenience tend to play a heavier role than others. For that reason, online tools, such as access to checking accounts online, have increased in popularity since they were first introduced. First Bank offers online personal banking, including access to checking accounts* to fit your wants and needs. How Do Access My Checking Account Online? In the past, checking accounts didn’t come with many extra benefits or features. They were simply used to deposit and withdraw your money. However, that is now changing thanks to online banking. Access to your checking account online can come in two forms: Through an established bank with a physical presence Through online-only banks with no physical branches Benefits of Checking Accounts with Online Access Flexible access — Convenient banking services can’t be emphasized enough. Online banking means access to services 24/7 from any location and on any web-enabled device. First Bank checking accounts offer online and mobile app** access with all checking accounts. Tracking and monitoring — Keep track of how much you’re spending and saving easily. Set alerts to stay on top of all activities related to your account. Streamlined financial management — View your account transactions online Transfer funds between accounts Monitor your budget Pay bills online Deposit checks remotely from any web-enabled device While online banks usually have fewer fees, they also tend to have more basic account offerings. If you do decide to open an account with an online bank, it’s also important to consider these two questions. How good is their customer service? Is a call-center your only option? Or can you speak with someone in-person? Having the option of speaking with a representative in-person can be a real advantage, especially if an issue is particularly complex. Is your account really secure? Security issues in online banking aren’t generally from the secure bank sites, but from the clients themselves. Clients have to be extra cautious when it comes to their web browsers or phone apps. If they aren’t properly password-protected or encrypted, they could potentially be hacked or infected by malware. Still, check the bank’s online privacy and fraud policy for your own peace 3 min read

Best Local Bank in North Carolina For a local bank in North Carolina that puts your financial goals first, check out your neighborhood First Bank. Named one of the Best Banks in North Carolina by Forbes, we’re small enough to know you like a neighbor, and large enough to provide financial services that fit your needs. We offer personal and business banking solutions with tons of savings options and a generous rewards program. Visit your local First Bank today for more information— more than 100 locations across the Carolinas. Financial Services Offered at First Bank At First Bank, we pride ourselves on being able to provide our customers a local, community-centric, banking experience. In fact, First Bank opened its first branch to help a local NC community that lost its only bank at the beginning of the Great Depression. We understand that the needs of the customers in various communities vary. That’s why we offer a variety of banking services at each of our locations, including: Checking accounts and savings accounts Debit and credit cards Personal loans and home equity lines of credit Business banking Treasury and merchant services Online and mobile banking, including mobile check deposit Mortgages, wealth management, and insurance Visit Your Local First Bank Today Come see why families and businesses have trusted us for years. To learn more about First Bank and why we are the best option for local banking, contact or visit us today. For more information on First Bank, see our articles on small banks near me, mortgage loan basics, and best mobile credit card processing service. ——— Securities and insurance products are offered through INFINEX INVESTMENTS INC., Member FINRA/SIPC. INFINEX INVESTMENTS INC. and FB Wealth Management, a division of First Bank, are not affiliated Investment and insurance products and services are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Osaic Institutions and FB Wealth Management, a division of First Bank, are not affiliated. We do not provide tax advice. Consult your tax advisor. Investment and Insurance Products are: Not Guaranteed by the Bank Not FDIC Insured Not a Deposit Not Insured by Any Federal Government Agency May Lose Value including Loss of Principal Sources: Investopedia: http://www.investopedia.com/terms/m/mortgage.asp Troy, NC: http://troy.nc.us/ 2 min read

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