The TABloid: Winter 2013

January 2013

Like many organizations, we recently completed our strategic plan for 2013. One important action of that plan is to get to know our customers and partners even better than we already do.

I feel relationships are one of the most important parts of our business. TAB provides loans and deposit services like most banks around the country. However, there is a reason our customers and partners choose to work with us; we handle specific situations very well. Continued and improved understanding of you as our customer or partner will allow TAB to be an even better organization.

Customers—we want to know your plans and be pro-active about how we can help with opportunities. And we know that not everything goes as planned. One of the competitive advantages TAB Bank has is the fact that we can move fairly quickly. We have helped many clients when things have not gone as planned. Our goal is to stay better connected with our clients so we can be the avenue for you to resolve an issue or seize an opportunity.

Partners—our goal is to be the predictable funding source you can depend upon. We know that we are not the right fit for every situation. We don't want to be. However, we feel we are the best fit for the right situation. TAB's objective is for you to know what that situation is. We want you to know what our box is so you can have the confidence to refer your clients and connections to TAB Bank.

Over the coming months, we will take the opportunity to utilize all the channels of communication today's world provides us. While that will include doing a better job with email, phone, social, advertising, and more; we will also rack up more travel expenses in 2013 and see people face to face. I feel that all our communication efforts will be worth every bit in the lasting relationships we will strengthen in the coming months.

Here's to further connecting with you in 2013,

// Steve Sala, President

Steve Sala



Cybercriminals are increasingly targeting small businesses to transfer funds from accounts and steal private information, a fraud referred to as "corporate account takeover". Criminals use spoofed emails, malicious software, and online social networks to obtain login credentials to businesses' accounts, which they then use to make illicit transactions.

Combating account takeover is a shared responsibility between businesses and financial institutions. Bankers can explain the safeguards small businesses need and the numerous programs available that help ensure fund transfers, payroll requests, and withdrawals are legitimate and accurate. Employees should be trained about safe internet use and the warning signs of this fraud, as they are the first line of defense.

In an effort to combat this type of fraud, we offer these tips to help prevent account takeover:

Protect your online environment. It is important to protect your cyber environment just as you would your physical location. Do not use unprotected internet connections. Encrypt sensitive data and keep updated anti-virus and anti-spyware protection on your computers. Change passwords from the default to something complex, including point-of-sale terminals.

Partner with your bank for payment authentication. Talk to your banker about services that offer call backs, device authentication, multi-person approval processes, batch limits, and other tools that help protect you from unauthorized transactions.

Pay attention to suspicious activity and react quickly. Put your employees on alert. Look out for strange network activity, do not open suspicious emails, and never share account information. If you suspect a problem, disconnect the compromised computer from your network and contact your banker. Keep records of what happened.

Understand your responsibilities and liabilities. The account agreement with your financial institution will detail what commercially reasonable security measures are required in your business. It is critical that you understand and implement the security safeguards in the agreement. If you don't, you could be liable for losses resulting from a takeover. Talk to your banker if you have any questions regarding your responsibilities.

To learn more, see the American Bankers Association's Small Business Guide to Corporate Account Takeover. //


America Saves Week

America Saves Week is coming soon and TAB Bank is pleased to be a participating organization for this year's event. With spending being so easy these days, it's no surprise that saving isn't. But if you put your plastic back into your wallet and say "later" to your latte, you will soon discover the power and peace that come from having a savings plan. Open a savings account and start making automatic deposits. You could soon be savings thousands of dollars a year—money that could go toward early retirement, a new car, or even a new home. Because what starts with something as simple as rolling your loose change or bringing your lunch to work, could lay the foundation for a wealthier future.

Open a TAB Bank Premium Savings Account, Money Market Account, or Certificate of Deposit and discover just how simple saving can be. For more savings strategies and tips visit //



$4 million
asset-based line of credit for A&W Products Company, Inc. of Port Jervis, NY
$2.5 million
asset-based line of credit for Eagle One Golf of Anaheim, CA
$1.8 million
asset-based line of credit for Cosmos Communications, Inc. of Long Island City, NY
$1 million
accounts receivable line of credit for ProStar Trucking, LLC of Salt Lake City, UT



Wherever you are, we've been there.


It's not easy and it's rarely painless, yet at some point in every company's life-cycle there comes a point when the thought of changing banks becomes a topic of deliberation. Whether you're dissatisfied with your current financial institution, offered new time-saving products or features, or presented with a cost savings that cannot be ignored, the reasons to consider a switch are many. Unfortunately many companies are swayed too easily before all of the risks involved with changing banks are considered. This can leave business owners in sometimes devastating situations that could easily have been avoided. Before you make a change, here are some key points to consider that will help make your transition as smooth and seamless as possible:

Make sure all of your needs are addressed. Lost in the shuffle of a fancy, well-presented proposal or a slick new product demonstration can be the fact that although a new bank may offer you something your current bank does not; they may not offer you everything you need. Make sure you take the time to compare apples-to-apples and confirm with the new bank that all products and services that you currently need and use are available to you before ever making a change.

Make sure all transactions are accounted for. Take some time to reconcile your accounts before closure. Closing an account too soon can result in returned check fees and other charges that will make your life miserable. Making sure all outstanding items have been paid and all automatic transactions have been moved will help to avoid unneeded hassles and headaches. Your checks, card swipes, wires and ACH's— both incoming and outgoing— all need to be accounted for so that none are lost in limbo.

Consider all of your options. If you've done your due-diligence and have decided that the time is right, do yourself a favor and look at all available options first. Don't short-change yourself and jump on the first offer presented to you. Talking with multiple banks may uncover additional opportunities that may otherwise have been missed. At the end of the day if you're going to make a move, make it count.

Be prepared. There is nothing easy about changing banks. New accounts, cards, checks, bill payments, treasury services, the list of things that need to be set up, ordered, received, etc. goes on and on and the experience can be very taxing for those who approach it the wrong way. Be prepared and don't make any changes until you are sure the new account is ready to begin handling your business.

When it comes to banking services and their associated costs it's never a bad idea to look around and consider what the market has to offer. Though changing financial institutions may seem like a difficult undertaking, if you are prepared, if you approach it the right way, and if you follow the advice above you will likely find the experience very worthwhile in the end.

Ready to make the switch to TAB Bank? TAB's Commercial Banking Supervisor, Thomas Karren, can help you do it the right way. Contact him today at 801.624.4971 or at //



TAB Bank Provides Sponsorship for 2012 Golf Classic for CURE Childhood Cancer

Based in Atlanta, CURE Childhood Cancer is dedicated to conquering childhood cancer through funding targeted research and through support of patients and their families. CURE got its start back in 1975, thanks to Dr. Abdel Ragab, the first pediatric oncologist located at Atlanta's Emory University. Dr. Ragab saw the need for a pediatric oncology research program as well as the need to support programs for families facing childhood cancer. Of course, he also saw a lack of funding. His solution? Organize a group of parents to form CURE Childhood Cancer and start raising money.

As a result of research funded by CURE, several new therapies and drugs continue to be tested at Emory University. Funding from CURE supports collaborations such as that between Emory and the National Cancer Institute. This partnership has led to the testing of a new drug targeted at pediatric acute lymphoblastic leukemia with very promising results. With backing and support from CURE, programs like this will continue to make headway in the battle against childhood cancer.

One of the key fundraising activities for CURE is the annual Golf Classic. We were pleased to support and sponsor this fundraising effort for the 2nd consecutive year. This year's event took place at The Oaks Course located in Covington, GA. We were well represented at the golf tournament by our Vice President and Business Development Officer located in Atlanta, Rob Gole.

"CURE provides critical support to patients and their families, establishing supportive relationships at the time of diagnosis which last throughout a family's journey with childhood cancer and beyond, whatever the outcome. The Golf Classic, always held on the last Friday in September, has been a steady and much needed support for CURE for 23 years," commented Joseph Coleman, CURE Golf Classic Chairman. //


Click here for our latest TAB Bank Trucking Report.

We feature industry-specific metrics as well as analysis from our large portfolio of transportation receivables for the purpose of offering insight into the health of the trucking industry as well as the economy at large. //

Cure Childhood Cancer


Representatives from TAB Bank will be at several shows, conventions, and other events over the next few months. Check out our schedule to see where we will be next.

Feb. 5–6 CFA Asset-Based Capital Conference (Commercial Finance Association) Las Vegas, NV
Mar. 3–6 TCA Annual Convention (Truckload Carriers Association) Las Vegas, NV
Apr. 24–27 IFA Annual Factoring Conference (International Factoring Association) Miami Beach, FL
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