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Banking Local is as Important as Ever

At Decorah Bank and Trust, we make loans to you and your neighbors, to farmers and to local business owners. We hold deposits from within our communities and invest back into them. We are here for you, and your deposits are safe with us.

In light of the news around Silicon Valley Bank and consequent customer concerns, community banks across this country are reminding consumers that they are in the best position to support customers and small businesses. #BankLocally is as important as ever. The ICBA issued the points below in response to the closing of Silicon Valley Bank.

Health Savings Account Information and Potential Strategies

Posted in: Savings

While an HSA resembles a flexible spending account (FSA), which your employer may offer as part of your benefits package, there are also some significant differences. For example, the money in your HSA can be rolled over yearly, which isn't the case with an FSA. If you change jobs, you can take an HSA, but not an FSA, with you. And if you don't have access to an HSA through your employment, you can open one with a bank or other financial services company and deduct your contribution when you file your tax return for the year you contributed. That's not possible with an FSA.

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