Mission Valley Bank News

MARK YOUR CALENDAR & RSVP TODAY!

MARK YOUR CALENDAR & RSVP TODAY!

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Posted by Mission Valley Bank in Client & Community Education. Leave a Comment

Scams and Your Small Business

Scams and Your Small Business
from the Federal Trade Commission / June 18, 2018 / 
by Rosario Méndez / Division of Consumer and Business Education, FTC

At the FTC, our mission is to protect consumers, including small business owners. That’s why, when we see scammers taking money from small businesses, we step in. Today, the FTC announced Operation Main Street: Stopping Small Business Scams, a coordinated law enforcement and education effort with state and federal partners, as well as the Better Business Bureau (BBB), to stop scams that target small businesses. READ MORE

What did those scammers do? The law enforcement actions in Operation Main Street involved defendants that tricked businesses into paying for materials they can get free – or paying for expensive license renewals that were not …

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Posted by Mission Valley Bank in Client & Community Education, Security. Leave a Comment

Ryan Roques Joins the Mission Valley Bank Team

Ryan Roques Joins the Mission Valley Bank Team

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Posted by Mission Valley Bank in MVB News. Leave a Comment

Operating a Franchise (Federal Trade Commission Consumer Information)

Operating a Franchise (Federal Trade Commission Consumer Information)

When you buy a franchise, you get to operate a business and sell goods or services with name recognition. You buy a format or system developed by the franchisor, and training and support. But investing in a franchise, like all investments, involves financial risk. Franchisees must commit money and time, and must operate by the franchisor's playbook.

The Franchisor's Responsibilities  -- Franchisors also have legal responsibilities, which are spelled out in the Franchise Rule. For example, franchisors must give potential franchisees important information in a Franchise Disclosure Document (FDD) at least 14 days before a contract is signed or any payment is made. In addition, some states require a franchisor to submit its FDD to state examiners for review before it can lawfully sell …

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Posted by Mission Valley Bank in Building Your Business, Client & Community Education. Leave a Comment

Mastering Cash Inflows and Outflows

Mastering Cash Inflows and Outflows

In a recent business seminar hosted by Mission Valley Bank, bank consultant Robert Dyck cited a statistic that 70% of businesses – large, mid, and small – fail due to cash flow problems. With three main sources of cash flow activity – operating, investing, and financing – he stressed how vital it is to understand and monitor cash flow in your business.

Michael Dell, founder of Dell Technologies, summed up his company’s lack of attention to cash inflows and outflows with an analogy. “We were always focused on our profit and loss statement. But, cash flow was not a regularly discussed topic. It was as if we were driving along, watching only the speedometer, when in fact we were running out of gas.”

Cash flow …

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Posted by Mission Valley Bank in Building Your Business, Client & Community Education. Leave a Comment

IT’S ALL ABOUT BUILDING RELATIONSHIPS

IT’S ALL ABOUT BUILDING RELATIONSHIPS

It’s all about building relationships. Recently, Mission Valley Bank’s Vice President and Business Banking Officer Paula Bahamon participated in a Women’s Collaborative Colloquium at CSU, Northridge with the purpose of elevating women business owners. Here is what the hosting organization, Women’s Collaborative Mentoring Program (WCMP), said about Paula --

“Paula Bahamon is an exceptional banker who understands how to support Women in Business. Last October, the WCMP held a Women’s Collaborative Colloquium at CSU, Northridge with the purpose to elevate women business owners. The Colloquium began with a leadership/mentoring award followed by industry expert panels and concluded with a speed mentoring (matchmaking).    Paula, was paired with three mentees for the speed mentoring event. Her consultative, thoughtful approach towards working with people illustrates her care to …

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Posted by Mission Valley Bank in Building Your Business, MVB News. Leave a Comment

Safeguarding Your Information for You & Your Business

Safeguarding Your Information for You & Your Business

Did you know, community banks adhere to rigorous laws, regulations, guidance, and voluntary frameworks to safeguard client information, according to the Independent Community Bankers Association. In a statement for a Small Business Committee hearing on small-business cybersecurity, ICBA said Congress and the federal banking agencies should recognize community banks’ flexible approach to cybersecurity and preserve this approach in any new laws or regulations.

The U.S. Department of Homeland Security warns to never give sensitive information to anyone unless you are sure they are, who they claim to be and that they should have access to the information. It’s every business owner’s worst fear that they could be the next target. …

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Posted by Mission Valley Bank in Cyber Security. Leave a Comment

Mission Valley Bank’s TOP TEAM!

Mission Valley Bank’s TOP TEAM!

Mission Valley Bank’s top management team received the Business Team of the Year Award at this year’s Women’s Council hosted by the San Fernando Valley Business Journal. Congratulations to Tamara Gurney, CEO; Marianne Cederlind, Executive Vice President and Chief Business Banking Officer; Diane Auten, Executive Vice President and Chief Financial Officer; Linda Rousseau, Executive Vice President and Chief Administrative Officer; and Jill Clements, Senior Vice President and Deputy Chief Credit Officer.

 …

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Posted by Mission Valley Bank in MVB News. Leave a Comment

Managing the Financial Health of Business

Managing the Financial Health of Business

Most independent business owners are challenged by having to play multiple roles with limited time. They put on – and take off – many management hats, often wearing them simultaneously. But the one that can never be shed is that of Financial Manager and Planner. With the responsibility of managing your company’s finances comes the requirement to understand them.

When viewed together, the balance sheet and income statement represent a complete and, hopefully, accurate financial picture of the company. Unfortunately, some businesses produce two or three sets of financial statements – one for the IRS, one for the banker, and one for themselves. Whatever the reasoning, it is important to remember that the worst possible person to kid is yourself. Every business owner needs clear, …

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Posted by Mission Valley Bank in Building Your Business, You & Your Money. Leave a Comment

MISSION VALLEY BANCORP REPORTS RECORD FIRST QUARTER EARNINGS

MISSION VALLEY BANCORP REPORTS RECORD FIRST QUARTER EARNINGS

Mission Valley Bancorp (OTCQX: MVLY) President & CEO Tamara Gurney announced year to date net income of $1,384,000 for the period ended March 31, 2018 – the strongest first quarter in the history of the company.

Gurney stated, “Mission Valley Bancorp has once again achieved a benchmark quarter close, reaching net income of $1,384,000. As of March 31, 2018 earnings per share rose to $0.43, up 10% from the $0.39 reported at March 31, 2017. In recognition of our company’s steady performance, the OTCQX named Mission Valley Bancorp among the ‘Best 50’ performing companies based on total return and growth in average daily dollar volume in 2017 and a direct reflection of the company’s commitment to increasing shareholder value and liquidity (the OTCQX …

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Posted by Mission Valley Bank in MVB News. Leave a Comment

CELL PHONES & THE DO NOT CALL REGISTRY

CELL PHONES & THE DO NOT CALL REGISTRY

The Federal Trade Commission strongly urges consumers to place their cell phone numbers on the National DO NOT CALL Registry to notify marketers that they don't want to get unsolicited telemarketing calls. Despite viral email, there is no new cell phone database.

The truth about cell phones and the Do Not Call Registry is:

  • The government is not releasing cell phone numbers to telemarketers.
  • There is no deadline for registering a cell phone number on the Do Not Call Registry.
  • Federal Communications Commission (FCC) regulations prohibit telemarketers from using automated dialers to call cell phone numbers without prior consent. Automated dialers are standard in the industry, so most telemarketers are barred from calling consumers' cell phones without their consent.
  • There is only one Do Not

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Posted by Mission Valley Bank in Client & Community Education, Getting Things Done. Leave a Comment

SCAM ALERT from the FEDERAL TRADE COMMISSION

SCAM ALERT from the FEDERAL TRADE COMMISSION

According to Colleen Tressler, Consumer Education Specialist with the FTC, they’re at it again...tax scammers scheming new ways to steal personal information and money.

In the first scenario, identity thieves file a fake tax return and have the refund deposited into your bank account. The thieves then contact you, often by phone, and — posing as the IRS or debt collectors for the IRS — demand you return the money to the IRS. But following the thieves’ instructions actually sends the money to them.

In another version, after you get that erroneous refund, you get an automated call, allegedly from the IRS, threatening you with criminal fraud charges, an arrest warrant, and “blacklisting” of your Social Security number. The caller gives you a case number …

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Posted by Mission Valley Bank in Fraud Alert. Leave a Comment

Take Control with Online & Mobile Banking

Take Control with Online & Mobile Banking

Ever wonder how you can keep better track of your spending? Save money more easily? Bank more efficiently? Eliminate late-fee charges on your bills? Even help protect yourself from fraud? The solution for much of these is already right in your hands — Online and Mobile Banking.

These services give you the power to connect with your money anytime, anywhere, and offer tools and features to help you control your money more easily than ever before. You can:…

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Posted by Mission Valley Bank in Security, You & Your Money. Leave a Comment

CardValet® — A Quick & Simple Solution

CardValet® — A Quick & Simple Solution

Last March, Mission Valley Bank launched CardValet®, a mobile card management application that helps reduce account fraud by allowing cardholders to monitor accounts with their smartphone and control how, when and where their debit card is used.

CardValet was developed in partnership with Fiserv and is available in the Apple® App Store or Google® Play. Once CardValet is set up, cardholders have the ability to “turn off” their card when not in use, establish transaction spending limits and decline a transaction when the amount exceeds a predefined threshold.…

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Posted by Mission Valley Bank in Getting Things Done, Security, You & Your Money. Leave a Comment

What Tax Reform Means for Small Business

What Tax Reform Means for Small Business
by Marianne Cederlind

What keeps business owners awake at night? According to the National Federation of Independent Businesses’ (NFIB) “Small Business Problems & Priorities Report,” five of the Top 10 issues directly relate to taxes. To give context, concerns regarding cash flow ranked a lowly 25 on the list, with business financing trailing at 69 and 70. The entire report can be viewed online at www.NFIB.

It is no surprise that articles and arguments abound about how the newest Tax Reform rules will affect businesses. From the smallest Mom & Pop shops to the Walmarts of the world, no business entity has been left out of the mix in this major tax overhaul. Whether a sole proprietorship, partnership, LLC, C Corp or S Corp, change

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Posted by Mission Valley Bank in Client & Community Education, You & Your Money. Leave a Comment