Mission Valley Bank News

MISSION VALLEY BANCORP ANNOUNCES ANOTHER RECORD QUARTER

MISSION VALLEY BANCORP ANNOUNCES ANOTHER RECORD QUARTER

I am pleased to report that Mission Valley Bancorp is off to a strong start for the first quarter of 2014 having achieved net income of $360,000, up 13.4% from the record earnings reported for the same period in 2013. This follows year over year results of $1.87 million at December 31, 2013 as compared to $1.06 million for the same period in 2012.   In part, I credit our steady earnings improvement to the somewhat painful lessons learned in recent years. Like most businesses that have survived the Great Recession, the past few years have taught our team how to do more with less. We have successfully streamlined operations and reduced expenses while still supporting production and maintaining an unmatched level of client service. …

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HBA Report for Spring 2014 – “Insurance in Focus”

HBA Report for Spring 2014 – “Insurance in Focus”

With this column on “Insurance in Focus”, my team at Health Benefits Advisors is very concerned that all California employers are sensitive to the financial pitfalls for employers as part of the ACA. Most employers are not aware of the new regulations or the financial penalties associated with the Affordable Care Act.

At HBA, we have developed a “Keeping in Compliance” checklist for you. Even if you do not provide ACA qualified health care benefits, you have requirements under this law.

  • —  Evaluate the FTE (full time equivalent) count for all commonly owned companies to see if you are subject to Pay or Play penalties!
  • —  100+ must be actively counting full and part time
  • —  50 to 99 FTE’s affected in 2015
  • —  2

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Frauds Target Small Businesses: Don’t Be a Victim

Frauds Target Small Businesses: Don’t Be a Victim

While large firms may have sophisticated technology and staff dedicated to thwarting crime, many small businesses don’t — and scammers know this. Here are ways to protect yourself:

Be on guard against inside jobs. This includes employee theft or misuse of cash, merchandise or equipment as well as fraud. “Minimize risks through steps such as pre-employment background checks, automated inventory tracking systems, audits, and clearly outlined policies for personal use of computers and other business equipment,” said Luke W. Reynolds, Chief of the FDIC’s Outreach and Program Development Section. “Also, carefully select who handles revenue from customers, pays the bills and reviews account statements. And, ensure that there are procedures in place to detect and deter fraud.”

Watch out for fraudulent transactions and bills. Scams …

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Fraudulent Cashier’s Checks

Fraudulent Cashier’s Checks

ALERT

Mission Valley Bank has been informed that fraudulent cashier’s checks bearing the bank’s name and logo are in circulation.

The fraudulent items display the routing number 103100551 (not a valid routing number). The items carry the bank’s name and logo in the upper left hand corner as well as the address 28159 Avenue Stanford, Suite 190 – Valencia CA 91355. The lower left hand corner states “PAYABLE THROUGH BOKF.NA – EUFAULA, OK”.

To date, the items identified have been issued in the amount of $2,140.00 and seem to be associated with a scam wherein victims are sent the fraudulent ‘Cashier’s Check’ and instructed to negotiate the item as part of an ‘evaluation’ (or similar request), directed to keep approximately $300.00 as ‘compensation’ and forward …

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New Scam – Done ‘Old School’

New Scam – Done ‘Old School’

From OnGaurdOnline.gov

In a recent twist, scam artists are using the phone to try to break into your computer. They call, claiming to be computer techs associated with well-known companies like Microsoft. They say that they’ve detected viruses or other malware on your computer to trick you into giving them remote access or paying for software you don’t need.

These scammers take advantage of your reasonable concerns about viruses and other threats. They know that computer users have heard time and again that it’s important to install security software. But the purpose behind their elaborate scheme isn’t to protect your computer; it’s to make money.…

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Equipment Acquisition – Is NOW the Time?

Equipment Acquisition – Is NOW the Time?

Businesses across all industries are increasingly optimistic about the future. For the first time in quite a while, companies are refocused on growth as opposed to survival. As this confidence continues to build, equipment acquisition will play an important role in meeting and stimulating market demand, and for many companies financing is an essential piece of the equipment acquisition process.

In fact, industry experts predict that seven out of every ten businesses (planning to purchase equipment this year) will use some form of financing to do so. This projected increase in equipment acquisition equates to businesses have a growing need for quick, convenient and smart equipment financing.…

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The Heartbleed Bug

The Heartbleed Bug

What is the Heartbleed Bug?

Heartbleed is a flaw in the programming on secure websites that could put your personal information at risk, including passwords, credit card information and e-mails. The Heartbleed Bug is a defect in encryption technology – called Open SSL – used by most Web servers to secure users’ personal or financial information. It is behind many “https” sites that collect personal or financial information. Basically, it provides a secure connection when you are conducting a transaction or sending an e-mail online. Experts discovered the bug recently and warned that cybercriminals could exploit it to access visitors’ personal data or to impersonate a website and collect even more information.

Am I affected?

Most active users of the Internet have likely been exposed, …

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What’s a CHIP Based Payment Card (EMV)?

What’s a CHIP Based Payment Card (EMV)?

About Chip-based Payment Cards (from the American Bankers Association)

A chip card is a standard-size credit card plastic with an embedded microprocessor chip that stores and protects cardholder data. If your card is lost, stolen or compromised in a data breach, the embedded microchip makes the card extremely difficult to counterfeit or copy. Although chip cards are not yet common in the U.S., this technology has been used around the world for many years and some U.S. banks already issue chip cards. The global standard is called EMV, short for Europay, MasterCard, Visa. There are currently more than 1.5 billion chip-enabled cards issued across the world.…

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The Simplest Steps to Fight Fraud…

The Simplest Steps to Fight Fraud…

Protect Yourself

• Report any suspected fraud to your bank immediately.

• Use online banking to protect yourself. Monitor your financial accounts regularly for fraudulent transactions.

• Sign up for text or e-mail alerts from your bank for certain types of transactions, such as online purchases or transactions of more than $500.

• Beware of phishing scams. Never give out personal financial information in an e-mail or over the phone unless you have initiated the contact.

• Monitor your credit report. Order a free copy of your credit report every four months from one of the three credit reporting agencies at annualcreditreport.com.

• Check your monthly banking and credit card statements carefully as soon as they arrive – report any questionable activity immediately.

If You …

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FTC Warns Small Businesses: Don’t Open Email Falsely Claiming to be from Federal Trade Commision

FTC Warns Small Businesses: Don’t Open Email Falsely Claiming to be from Federal Trade Commision

The Federal Trade Commission is warning small businesses that an email with a subject line “NOTIFICATION OF CONSUMER COMPLAINT” is not from the FTC. The email falsely states that a complaint has been filed with the agency against their company. The FTC advises recipients not to click on any of the links or attachments with the email. Clicking on the links may install a virus or other spyware on the computer.  …

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Disaster Planning and Recovery for Businesses…(Yes, ANOTHER Reminder)

Disaster Planning and Recovery for Businesses…(Yes, ANOTHER Reminder)

Most businesses prepare for crises of the corporate sort – contracts, worker’s compensation insurance, financial pitfalls, bankruptcy protection. What many businesses, particularly small businesses, aren’t ready for is natural or man-made disasters. Any event that causes serious loss, destruction, hardship or death – whether it’s natural or man-made, can destroy or decimate your business.  Earthquakes, fires, electricity outages, floods, influenza outbreaks, terror attacks – your business is as susceptible to these types of emergencies as you are.…

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Tips for 2014 (and beyond)

Tips for 2014 (and beyond)

Even though the first two months of the year are already in the rearview mirror, it’s not too late to ring out the old and ring in the new, to ditch bad habits and replace them with good ones. We can’t guarantee you’ll lose weight, or become a better human being, but we can give you some suggestions to help you whip your finances into shape. Here are some tips for the rest of 2014:…

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An Important message for our customers regarding the Target data breach.

An Important message for our customers regarding the Target data breach.

We recommend you closely review the information provided in this letter for some important steps that you may take to protect yourself against potential misuse of your credit and debit information.

As reported in the news, Target reported a breach to their security that resulted in unauthorized access to Target payment card data. This includes both credit and debit cards used to make purchases in its stores from November 27, 2013 through December 15, 2013. Protecting customer and account information is a top priority for Mission Valley Bank that we take very seriously. As such, we are taking extra precautions to try and keep your accounts safe.

If you made purchases at Target during the affected dates, we ask that you monitor your accounts more …

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MISSION VALLEY BANCORP ANNOUNCES RECORD 3RD QUARTER EARNINGS

MISSION VALLEY BANCORP  ANNOUNCES RECORD 3RD QUARTER EARNINGS

Sun Valley, California – November 21, 2013 – Mission Valley Bancorp (OTCBB: MVLY.OB) President & CEO Tamara Gurney announced today that the company achieved record third quarter year-to-date net earnings of $1,195,000 for the period ended September 30, 2013, up more than 240% from September 30, 2012.

President and CEO Tamara Gurney stated, “I am pleased to report that 2013 continues to be a strong year for Mission Valley Bancorp. Net income of $1,195,000 (after provision for income taxes) represents the best September 30th close in the history of our company, marking our second consecutive record quarter for the year.” …

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Health Care Reform Update – 4th Quarter 2013

Health Care Reform Update – 4th Quarter 2013

By Chuck Kiskaden, CHC

A lot has happened regarding the Affordable Care Act (ACA) since our last report. In this column, we will look at the roll out of Covered California and touch on the key points that will affect California employers.

1. Employers with 50 or fewer full time equivalent (FTE) “benefits eligible” employees know they do not have a requirement to provide benefits or pay a penalty. What they may not be aware of is the responsibility to provide a notification to each employee of the availability of the insurance exchange. There is a federally approved letter of notification that must be used for this communication and beginning in 2015, a financial penalty if the employees do not receive this communication. …

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