Holiday Accounts Help Reduce Spending

December 17, 2018

Santa Giving Gifts

Open a Holiday Savings Account Today to Reduce Excessive Spending During Next Year’s Holiday Season We are officially in the midst of massive financial temptations now that the holiday season is upon us. You might find yourself weathering the spending storm. A holiday savings account can so helpful each holiday season. When you use a […]

Continue Reading

Types of Commercial Loans

August 6, 2018

commercial buildings

Commercial loans are a special type of debt-based funding arrangement that is set up between a business and financial institution that is commonly utilized to provide the funds necessary for capital expenditures and/or to provide a monetary basis for operational costs.Commercial loans may be obtained from either a bank or a private lender.  Somerville Bank […]

Continue Reading

Benefits of Small Business Administration Loans

June 18, 2018

small business loan

Apart from contributing to the growth and comprehensive development of small businesses, there are numerous benefits associated with Small Business Administration Loans. The Small Business Administration is a federal agency that specializes in guaranteeing necessary loans that are made through lending partners throughout the nation. Somerville Bank is one of those lending partners. If you want […]

Continue Reading

The Benefits of Bank Auto Loans

June 4, 2018

Auto Loan

If you are attempting to gain approval for an auto loan, you should skip the dealership and opt to work directly with a bank. There are many benefits of bank auto loans. Bank Auto Loans Throughout history, most individuals seeking to purchase a new or pre-used vehicle have obtained financing as arranged through the vehicle […]

Continue Reading

Credit Report – A Basic Guide for Consumers

February 26, 2018

Credit Report

A credit report is a specially-designed statement that includes specific information about past and current credit activity which has a direct impact on an individual’s capability to receive loans, financing, and other types of monetary assistance.Credit reports are created by companies, bureaus, and/or consumer-based reporting agencies that specialize in collecting and storing financial-based information about […]

Continue Reading

Tax Season Tips

February 12, 2018

Doing Your Taxes

Tax season is in full swing.January 29th marked the first day that electronic tax returns were accepted by the Internal Revenue Service. This year alone, 155 million returns are expected to be filed. As a result of the immensity of this number, tax fraud is anticipated and heavily weighing on the minds of both consumers […]

Continue Reading

Understanding Increasing Credit Card Interest Rates

January 22, 2018

questions about interest rates

In 2017 alone, the Federal Reserve increased the interest rate not once, twice, but a total of three times. As a result of this fact, the interest rates associated with credit cards is expected to increase. “Credit is a system whereby a person who can’t pay, gets another person who can’t pay, to guarantee that […]

Continue Reading

The Advantages of Choosing a State Charter Bank

January 8, 2018

somerville bank logo large

At the start of the New Year, we here at Somerville National Bank acquired a State Charter. We are now pleased to announce that we are now Somerville Bank. Essentially, this means that we are authorized for the state, by the state and we are capable of engaging in most of the same functions as […]

Continue Reading

Somerville National Bank Converts to an Ohio State Chartered Bank.

December 27, 2017

Welcome to Ohio

Somerville National Bank’s Board of Directors announced that we have converted from a national bank charter to an Ohio state chartered bank and changed our name to “Somerville Bank.” The conversion is not expected to affect the our shareholders, customers, or employees in any way. All deposits will remain insured through the FDIC. The charter […]

Continue Reading

Consolidate Your Credit Card Debt with a Personal Loan

December 26, 2017

credit card bill

According to information released in November of 2017, the average household in the United States has $6,662 in credit card debt. In addition to this, it has been estimated that the consumer who uses a credit card for holiday shopping spends in excess of $1,000. As a result, many find themselves experiencing a massive amount […]

Continue Reading