The Economic Outlook for the U.S. and Los Angeles On January 19, 2025, the Santa Fe Springs Chamber of Commerce, in partnership with First Pacific Bank, hosted the annual Economic Outlook Breakfast. This year’s keynote speaker, Dr. Christopher Thornberg, founding partner of Beacon Economics and a nationally recognized economist, delivered an engaging and thought-provoking presentation…
Zelle®, a widely used person-to-person payment platform, recently announced significant changes to its stand-alone app. Beginning January 8, 2025, new user enrollments for the stand-alone Zelle app will no longer be accepted and as of March 31, 2025, the app will cease to support any transactions. After these dates, Zelle will only be accessible through…
In today’s digital age, scams are becoming increasingly more sophisticated and it’s important to stay vigilant. The American Bankers Association (ABA) launched the #BanksNeverAskThat campaign in honor of Cybersecurity Awareness Month to help people recognize and avoid phishing scams that could compromise their personal and financial information. Here are some tips to help keep you…
For many small businesses in Southern California, securing a Small Business Administration (SBA) loan can be a critical step toward growth and stability. Whether you’re looking to expand, purchase equipment, or improve cash flow, an SBA loan offers attractive terms that can make a significant difference. At First Pacific Bank, we’re committed to helping local…
In today’s fast-paced world, convenience is key. That’s where mobile wallets come in, revolutionizing how we pay and offering a seamless experience that fits into your smartphone. What Are Mobile Wallets? Mobile wallets are digital versions of your physical wallet, securely stored on your smartphone or other mobile device. They allow you to store credit…
First Pacific Bank now offers Plaid integration so customers can instantly link their external accounts providing a more streamlined and convenient banking experience, with several key benefits: 1. Simplified Account Connectivity. With Plaid’s integration, customers can easily link their First Pacific Bank accounts to a variety of financial applications and services. This streamlined process eliminates…
First Pacific Bank was a proud sponsor of the 2024 Economic Outlook presented by the Santa Fe Springs Chamber. Held in January 2024, the event featured Dr. Thornberg and included an informative presentation on economic trends, the outlook for California and Los Angeles County, and the path forward for your business. The presentation is included…
To help fight financial crime and terrorist financing, the U.S. Department of Treasury passed a new regulation making it mandatory for financial institutions to collect information on beneficial owners of legal entity clients. This regulation was enacted to provide greater transparency into company structures and better protect the U.S. financial system. Understanding Beneficial Ownership. Beneficial…
Starting a small business is an exciting journey that offers opportunities for growth, innovation, and financial independence. To set yourself up for success, it’s important to approach this venture with careful planning, determination, and a willingness to adapt. In this article, we share 12 tips to help guide you through the process of starting a…
For many small businesses, securing the funds to start or grow their operations can be challenging. The Small Business Administration (SBA) offers financing solutions through its loan programs designed to provide businesses with access to affordable capital, favorable terms, and additional support. In this article, we help you understand the basics, explore available loan programs,…
