PRESIDENT'S UPDATE // November 2011

The trucking industry is a major part of the American economy. The shipment of goods, products, parts, supplies, and materials touches nearly every aspect of the economy and has an impact on households and families in every corner of the country. Due to the significance of the trucking industry on the economy at large, one can gauge the health of overall economic activity and production in this country by looking to this vital industry. If the trucking industry is showing signs of growth, expansion, and vitality then it usually is a pre-cursor to stronger growth and well-being in many other sectors of the economy. If an economic slowdown is on the horizon the trucking industry is usually one of the first areas that will feel the pinch.

As many know, TAB Bank has been a key financial partner to trucking firms of all sizes since our founding in 1998. We desire not only to provide banking and financial products designed specifically for this target audience, but we also seek to provide relevant and useful information for our trucking clients. As many also know, TAB Bank now maintains a significant portfolio of working capital lending facilities to companies from many other sectors of the economy. We recognize that we are in a unique position to provide helpful information for these clients as well. We know that being your financial partner is a daily commitment. We seek to provide financial and economic expertise and insight that goes beyond the daily tasks of providing service and support for our client’s accounts.

To this end, we recently sent a Business Conditions Survey to many of our trucking clients. The purpose of this anonymous survey was to forecast future economic activity based on the unique perspective many of our trucking customers are able to offer. We asked six simple questions. Below are the results.

1. Over the past 30 days, freight rates have _______.
Increased (21.9%)
Decreased (9.4%)
Stayed the same (68.8%)

2. In the next 60 days, freight rates are expected to _______.
Increase (46.9%)
Decrease (6.3%)
Stay the same (46.9%)

3. Over the past 30 days, your fleet size net _______.
Increased (3.1%)
Decreased (21.9%)
Stayed the same (75%)

4. In the next 60 days, your fleet size is expected to net _______.
Increase (22.6%)
Decrease (3.2%)
Stay the same (74.2%)

5. Over the past 30 days, net number of employees has _______.
Increased (16.1%)
Decreased (19.4%)
Stayed the same (64.5%)

6. In the next 60 days, net number of employees is expected to _______.
Increase (25%)
Decrease (3.1%)
Stay the same (71.9%)

What these results tell me is that there continues to be a level of uncertainty in the trucking industry. The high number of neutral responses indicates that it is still very unclear the direction this industry will take in the coming months. The unclear direction of the current economic environment is also being felt in many other sectors of the economy. There have been many changes in the recent past to how companies from many industries conduct business. These neutral responses are not necessarily bad either. It simply means that there continues to be a "wait and see" mentality as the economy strives to recover.

Even in this continued climate of economic uncertainty, TAB Bank continues to provide strength and stability for our clients. We provide financial products during all stages of our customers' business life cycle and in any economic environment. Simply put, economic uncertainty or not, we at TAB Bank have been and will continue to be a financial institution that our clients can have confidence in. //




Tax Guard, Inc.
Denver, CO

Tax Guard, Inc. is a tax compliance, monitoring, and resolution company located in Denver, Colorado. Since 2009, Tax Guard has used its fourteen years of resolution experience to help businesses from all across the country address issues with the Internal Revenue Service and state taxing authorities.

Small business owners wear many hats, so it can be easy to overlook issues relating to taxes. The IRS is a large bureaucracy, which makes it difficult to obtain information, let alone make sense of it. Tax Guard can quickly determine the compliance status for a business or individual by verifying federal tax deposits and determining whether there are "missing" returns or liabilities. Tax Guard obtains information directly from the IRS’s system and summarizes it in an easy-to-understand format. Customers of TAB Bank can use this information to quickly resolve compliance issues by filing returns the IRS considers "missing" or making federal tax deposits in the proper amount, timeframe, and location. This information can save businesses time and money by avoiding penalties and interest as well as potential visits from the IRS.

If a business does happen to accrue a tax liability with the IRS or a state taxing authority, Tax Guard can help resolve the situation so the business can preserve its relationship with TAB Bank. Factors and asset-based lenders secure their collateral by filing a lien. If a federal tax lien is filed, the factor or asset-based lender's security interest moves into second position behind the IRS, which threatens the lender's ability to continue funding. Tax Guard has helped TAB Bank customers with liabilities from $10,000 to more than $1 million quickly negotiate reasonable and affordable Installment Agreements, while alleviating TAB Bank's concerns by securing a subordination of federal tax lien, when necessary.

In a recent situation, Tax Guard successfully resolved a $1,250,000 IRS liability (based on discrepancies in some returns) for a trucking company, which allowed the business to correct the issues with the IRS and continue factoring with TAB Bank at the same time. In the end, the business had to pay nothing to the IRS and actually received a credit of $350. Tax Guard also successfully prevented a federal tax lien from being filed while the discrepancies were addressed. Because Tax Guard handled all communication with the IRS and TAB Bank, the company's executives were able to focus their attention on running and growing the business.

To learn more about Tax Guard, Inc., call Jason Peckham, Esq. at 303-953-6325 or email him at //

Tax Guard


As many know, consumer spending accounts for a large percentage of the nation’s economic activity. A large portion of this spending occurs during the holiday season each year. What is the forecast for consumer spending for the upcoming 2011 holiday season? How will it compare to recent years? The National Retail Federation answers these questions and more in the following article. // MORE…


TAB Bank Partnership with Fair Credit Foundation Provides Assistance to Families in Need

TAB Bank has long partnered with non-profit organizations locally in Utah for the purpose of providing financial assistance and other resources. Many of these charitable organizations were founded with the goal of providing support and tools to low to moderate income individuals and families. These groups have created programs and initiatives to promote and encourage education, home ownership, entrepreneurship, job skills, and other worthy financial objectives among this demographic. One such organization that TAB has partnered with for this purpose is Fair Credit Foundation.

Junior Achievement

Fair Credit Foundation (FCF), founded in 1997, is a Utah-based non-profit consumer credit counseling agency that gives financially distressed individuals and families hope to move from crisis to control. They do this by offering confidential one-on-one financial counseling and education, money management coaching, debt management relief programs, and HUD approved housing counseling. FCF is also the headquarters of the statewide Utah Individual Development Account Network (UIDAN).

UIDAN is a multi-faceted financial education and matched savings program for low income Utahns that produces long term financial self-sufficiency. Matched savings can be used toward the purchase of a home, small business development, education, or a work-related assistive technology device. The program opened its first accounts in October 2004 and has grown to 487 families. UIDAN is the only Individual Development Account program serving the entire state.

TAB Bank has been a partner with UIDAN since its inception in 2004. TAB provides funding and other support to UIDAN on a regular basis to ensure they can continue their life-changing programs for individuals and families in need. “We have always been very happy with our long-standing partnership with Fair Credit Foundation and UIDAN. We are very pleased to continue providing them with monetary and other resources to accomplish their praiseworthy objectives,” stated Eric Myers, Director of Marketing with TAB Bank.

To learn more about Fair Credit Foundation and its programs and services, visit or call 800-351-4195. //




The recent passing of Steve Jobs has lead many to reflect on the impact of his life and influence. He brought inspiration and motivation to many who had the privilege of crossing his path. What lessons can be gleaned from his life of innovation and leadership? How can these lessons be put into action to improvement and growth to all facets of one’s life?

The following article outlines seven lessons from the life of Steve Jobs that will bring vigor and vitality to one’s life, career, and business. // Read more at



$5 million
accounts receivable line of credit for Decca Consulting out of Santa Barbara, CA
$5 million
participation loan with a bank in New York on an asset-based line of credit
$3.5 million
accounts receivable line of credit for Volume Transportation out of Lithonia, GA
$3.3 million
four capital lease purchases from lease originators
$3 million
accounts receivable line of credit for Augmentity Systems out of Chicago
$1.5 million
accounts receivable line of credit for Central Cal Transportation out of Fresno, CA
$1.5 million
accounts receivable line of credit for Illinois Trading Company out of Chicago
$1 million
revolving line of credit for Global Sweeping Solutions out of San Bernardino, CA



Do you love football? Do you have a favorite team in the NFL that you root for each Sunday? Test your knowledge of football and the NFL by taking our quiz. Those who complete the survey and get all the answers correct will be entered into a drawing for a $50 gift card.

Click on the link below to begin. Thank you for your continued support of TAB Bank and have fun! // TAKE THE QUIZ…


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