Monthly Archives: July 2017

Invested in the Community: Rosenboom Focuses on Farming, Finance and Family

By Darcy Dougherty Maulsby

Pomeroy—When John Rosenboom finished eighth grade, his father, Steve, asked him if
he wanted a car. Since the answer was yes, the pair went to the Garber-Birkey
Implement Company in Pomeroy, where the younger Rosenboom was introduced to Ken Garber and landed his first off-farm job.

“I worked there all through high school,” said Rosenboom, 37, who used some of his earnings to buy a 1966 Dodge Coronet 440 for a couple thousand bucks. “It was a blessing to be born into a family who taught me early on these financial lessons, which have served me well.”

Farming, finance and family remain priorities in Rosenboom’s life and career. In addition
to row-crop farming in the Pomeroy/Manson area, where his family has lived and worked in
Calhoun County’s Sherman Township since the 1880s, Rosenboom also serves as a vice
president and crop insurance sales specialist in Manson at Heartland Bank, which has been
family-owned for 117 years.

“Banking works well with farming,” said Rosenboom, who is more likely to meet his customers in their tractors or combines than in his office. “Because I farm, I go through the same joys and pains as my customers. I make myself available outside of banking hours to work around their busy schedules.”

Moving from IT to banking

While farming has always interested Rosenboom, a banking career wasn’t his priority when he graduated from Pomeroy-Palmer High School in 1998. Rosenboom opted to earn his degree in information technology (IT) at Kirkwood Community College and start his career in eastern Iowa.

Rosenboom worked in IT for Unverferth Manufacturing Co., which serves the ag industry, and later Ag Partners in Albert City, bringing his family closer to the Calhoun County family farm.

When his family’s ag lender, Steve Wickett from Heartland Bank, was nearing retirement, he encouraged Rosenboom to consider a career in banking, Rosenboom was intrigued by the possibility of a career closer to the farm. In 2010, he made the career switch from IT to ag lending at Heartland Bank and never looked back.

“Banking is a rewarding career,” said Rosenboom, who has attended numerous ag credit
schools and commercial banking classes to expand his knowledge. “In my experience, 99 percent of doing business with people is trust. It’s like a marriage in that respect.”

Who is Rosenboom’s ideal customer? “Someone who is a critical thinker and hard
worker who understands the value of diversification and good management. It’s rewarding to see younger farmers build their net worth and watch their families grow.”

Heartland Bank understands the importance of family and community, added Rosenboom, who serves clients from Des Moines to the Okoboji area. “The neat thing about working for a family-owned bank is that I have a lot of freedom,” said Rosenboom, who specializes in ag and commercial loans. “Some things that might take a week or more at a larger bank can often get done in a day here.”

The bank also finds ways to add more value for its ag clients. Heartland Bank offers
GrainBridge, a sophisticated financial tool that helps farmers track expenses, previous sales,
marketing options, what-if analyses and more. “We bring new solutions to our clients,”
Rosenboom, who uses GrainBridge to track his own break-evens on a field-by-field basis.

Crop insurance is another key part of successful farm business management. “It’s
essential to the financial stability of American agriculture,” said Rosenboom, who serves as
secretary on the Calhoun County Farm Bureau board.

Rosenboom is a tremendous asset to the board, noted Terry Seehusen, regional manager for the Iowa Farm Bureau Federation. “John is a talented, outgoing young farmer who keeps a finger on the pulse of the ag economy as an ag lender. He’s also knowledgeable about current events and legislative issues, plus he’s willing to volunteer his time to benefit agriculture, which is a huge benefit.”

Honoring the past, focusing on the future
Just as Rosenboom focuses on financial sustainability, he and his family also make
environmental sustainability and conservation top priorities on their Calhoun County farm.

“We planted 268 trees this spring to help keep the soil in place, and our filter strips along the creeks also help protect the soil,” said Rosenboom, a fifth-generation farmer. “We want to be good stewards of the land. It’s amazing to work the same soils my great-great-grandfather farmed with horse-drawn equipment.”

This sense of heritage is also reflected in other ways for the Rosenbooms, who have four children and are long-time members of St. John’s Lutheran Church in Pomeroy, just like previous generations of their family. Rosenboom credits his parents, Steve and Rachel, with instilling in him the importance of preserving history while focusing on the future. This spirit is reflected not only in the family’s collection of vintage tractors and their interest in the annual Albert City Threshermen and Collectors’ Show, but in their desire to give back to the community.

“A strong ag industry and strong community banks like Heartland Bank are imperative to the success of our local communities,” Rosenboom said. “I plan to build my career here, keep farming and grow old here, close to my family. I wouldn’t have it any other way.”

Money Advice from the Movies

Personal Finance

Occasionally, even the best movies hold fantastic financial advice. We love these classic films and their timeless tales. At Heartland Bank, we’re excited to share their hidden financial advice, and help you make the most of your money-management, (while cluing you into some great movies to watch along the way!)

“You… you said… what’d you say a minute ago? They had to wait to save their money before they even ought to think of a decent home? Wait? Wait for what? Until their children grow up and leave them?” – It’s a Wonderful Life, 1946

Just like this movie’s protagonist, our lenders at Heartland Bank believe you should enjoy your home as soon as you can instead of waiting to pay for it in full. Our dedicated team of mortgage professionals are here to help you find the ideal lending solution to purchase the perfect home for your growing family. Instead of waiting ten, fifteen, or twenty years down the line to purchase your first house, stop in today and discover your home ownership potential.

“One more thing, they don’t want to pay taxes again, ever.” -Armageddon, 1998

Just like the heroic men of this movie, we understand you don’t want to pay any more taxes than you have to. While we can’t help you eliminate having to pay taxes, helpful savings accounts like an educational 529, or options such as a Roth IRA, can assist you in legally avoiding extra taxation later in life. If you’re curious and would like to learn more about our savings account options, stop by your nearest branch today!

“You know why the Yankees always win Frank?” “Cause they have Mikey Mantle.” “No, it’s ‘cause the other teams can’t stop staring at those… pinstripes!” -Catch Me If You Can, 2002

Instead of choosing your personal loans or mortgages based off of flashy deals or specials, choose a reliable lineup with our team of community focused professionals at Our goal is to help you have the best experience possible alongside our local lenders, without the need for door-buster deals. Before you start your search for financing, ask yourself if you’re searching for the ideal teammate, or if you’re just staring at those dang pinstripes.

“The moment you become embarrassed of who you are, you lose yourself. I changed the house, the way I dressed, the way I ate – and for what?” -Oceans 13, 2007

If you haven’t heard already, keeping up with the Joneses is overrated. A high amount of debt, low savings, and never feeling like you have enough; there aren’t many upsides to this eternally competitive contest of who has what. Instead of trying to compare and contrast your belongings, instead, focus on the experiences and essential items that mean the most to you and your family. These fundamentals can help you structure your financial well-being and focus your earnings on things that mean the most to you, not your neighbors next door.

We love the movies showcased above! Are there any movies you find yourself watching time and time again? If you notice any great financial tips or tricks, be sure to post them to our Facebook feed. At Heartland Bank, we’re always searching for new and exciting ways to help our customers save!

Saving for Tuition 18 Years in Advance

Educational Savings

After you get to see those little eyes open, it’s like a whole new world has unfolded before you. When you’re elbows deep in changing diapers, cleaning up whoopsies, and trying to sleep more than four hours a night, the last thing on your mind is college savings. At Heartland Bank, we understand the chaos which ensues with each new addition to your family. To help you prepare for this upcoming transition, we’d like to help you find the best educational savings account for your little bundle of joy before he or she arrives!

There are two primary types of accounts when it comes to saving for your child’s ongoing education. Similar to retirement savings accounts, both of these options do require various stipulations when it comes to distributing the saved funds. Here we’ll show you the pro’s and con’s to each option, to help you better determine which option will suit you and your needs best.

The Coverdell Savings Account: This account option utilizes after tax dollars, which means there are no taxes on distributions when the funds used for education. The account does have a nationwide $2,000 a year contribution limit, in addition to various income restrictions. While you and your spouse may manage and contribute to the fund, once the child turns eighteen, he or she will own the account and all the funds within it. However, the child once of age may only use the funds for education related expenses without incurring an additional distribution tax.

The 529 Savings Account: This account option also utilizes after tax dollars, which again indicates no future taxes on distributions if the funds are used for education. The account does not have income limitations, however, each state stipulates their own yearly contribution limit, typically ranging from $100,000 to $350,000 per year. For this account type, the physical savings account, and the funds within it, remain yours, only designated toward a specific beneficiary (which you can change up to once per year.)

Let’s compare the two when looking at national average college costs across the U.S.

If you choose to save using the Coverdell account option, suppose you save $2,000 per year for eighteen years, yielding a total of $36,000 of total out-of-pocket contributions. Add in the compound interest of those eighteen years, and you’ll find yourself with approximately $80,983 in total educational savings. Fun Fact: The national average for a year of in-state public college in the U.S. is $20,090 or $80,360 for a four year degree.

Alternatively, if you choose to save with a 529 account, you can save more than $2,000 per year, say $3,500 per year instead. Multiply those contributions by eighteen years, and you’ll have $63,000 in total out-of-pocket contributions. After calculating your compound interest into the equation, you’ve grown up to $141,562 in total educational savings. Fun Fact: The national average for a year of any college in the U.S. is $35,370, or $141,480 for a four year degree.

As you can see, both of these accounts allow you to make much more through the benefit of time and compound interest. Just like your retirement savings, the sooner you start contributing, the more interest you can earn. While the Coverdell allows you to give the account to your child, the 529 shows better savings opportunities, allowing you to maximize your potential interest.

If you’d like to learn how you can start saving for your upcoming chick-a-doo, stop by and speak with one of our dedicated personal bankers at Heartland Bank today! We’d love to help your family continue to grow!

Eat This Not That

Budgeting

Like many Generation X’ers, we grew into adulthood alongside this viral diet book, which showcased the epitome of dieting in the late 2000’s. Now a decade or two later, there are still some relevant tips and tricks we’re excited to share here. See how Heartland Bank can help you switch up your spending, by eating THIS instead of THAT, to put some extra bang in your buck.

EAT Dried Beans NOT Canned Beans: While many Americans are used canned beans as a pantry staple, you can save more than 50 percent when you take the time to cook with dried beans instead. According to the Bean Institute, dried beans typically run about $0.15 per serving, with canned store brands bean coming in at $0.34 per serving and your national brand of canned beans costing approximately $0.48 per serving. Additionally, if you cook your beans in a stock you can add additional flavor to your dish for only pennies per serving.
EAT Bulk Sized Snacks NOT Pre-packaged Portions: When trying to pack a child’s lunch, or meal prepping for yourself, it can be easy to turn to those pre-packed time savers. However, if you’re looking to lessen your grocery spending for the month, we recommend buying your family’s go-to snacks in bulk. Great retailers such as Sam’s Club, Costco, and Amazon offer great bulk pricing to help your household reduce their monthly expenses.
BUY Store Brand NOT Name Brand: Speaking of name brand, forget your brand loyalty and seek out the options that truly stretch your dollar the farthest. Great pantry staples like canned tomatoes, sugar, flour, stock, etc are consistently less costly than their national brand counterparts. Enjoy those extra dollars somewhere else in your budget, and see how much you can save off your grocery bill using this simple switch.
EAT Bread & Butter Roast NOT Flank Steak: Although these two cuts come from differents parts of the cow, they do offer very similar tastes. The bread and butter roast runs typically a few dollar less, but is still just as tender and buttery when sliced thin. Both options offer a great beef taste, however, when shopping for the entire family, this bread and butter alternative could save you several dollars per person!
EAT Ground Pork NOT Ground Beef: Many people are familiar with ground pork when it comes to meatballs or brats, however, did you know you can supplement ground pork for beef in many other recipes? Something as simple as Hamburger Helper can be used just as easily with this more affordable alternative. If you purchase the ground pork unseasoned you can ensure it only has the flavors you and your family want, compared to it’s spicy Italian sausage counterpart.
EAT Frozen Pizza NOT Delivery Pizza: Often you can find a frozen pizza at your local discount grocer for approximately $3.33 each. However, if you choose to purchase from a national chain you could be paying as much as $10.99 for a medium pizza depending on your brand. An added benefit of frozen pizzas is the sales cycle of many chains. If you wait until this frozen entree goes on sale you could snag them for as little as $2.50 each or less!
EAT Frozen Fruits and Vegetables NOT Canned Fruits and Vegetables: Not only do these frigid foods save you money but calories too! While the canned items can offer more convenience, they typically contain syrup or oil to help keep the produce fresh. Avoid these extra calories and costs by purchasing the frozen option instead.
EAT Whole Chicken NOT Rotisserie Chicken: This change-up is purely time related. You can cut the cost of your meal in half or more by taking the time to roast your own whole chicken at home instead of purchasing one which has already been prepared. While you may need additional ingredients such as olive oil, herbs, and spices, they come at a fraction of the cost, and can be used for countless other dishes in your kitchen. Not to mention you can make your own stock with the scraps!

We love cooking, and we can’t wait to hear how these tips and tricks can help your family succeed! Be sure to share your favorite success stories and recipes on Heartland Bank’s Facebook page. We’d love to see which hacks have helped your household the most.