In Your Corner Magazine | Fall 2023

ISSUE 15 | 2023

BUSINESS ACCESS

In this issue ISSUE 15 | 2023

growing business Fund your

GIVING BACK GETS PERSONAL Businesses find new approaches to community giving

TIPFLATION Navigating the changing landscape of gratuity

FRAUD ALERT Pull the plug on common smartphone scams

GOLDEN STATE TREASURES Discover unique gifts straight from the heart of California

INSPIRING COMMUNITY Banking on artistic expression

Does your small (but mighty) business need a general-purpose term loan or a line of credit? Business Access loans 1 from California Bank & Trust offer same-day decisions and expedited funding if your application is approved. Is a Business Access Term Loan or Line of Credit right for you? Business Access loans 1 are ideal for companies with a simple ownership structure and small borrowing needs. If you don’t automatically qualify for conventional financing, apply through Business Access and explore SBA 2 financing eligibility with your banker. Keep your business growing.

HOW TO CREATE A GREAT LEGACY Part three in our series: Putting it all together

INSERT, SWIPE OR TAP Cashless systems boost small-business growth and efficiency

PROJECT ACCESS Making a positive impact on our communities

ROCK THE CASA Empowering change through music

TAKE 5 Q&A with Erica Fernandez, Senior Vice President, Region Manager for Northern California’s Core Banking (Business Centers & Business Banking), California Bank & Trust

Learn more and apply 2 now at calbanktrust.com/access SCAN OR

PUBLISHER California Bank & Trust (CB&T) EVP | DIRECTOR OF MARKETING Jathan Segur

COMMUNICATIONS OFFICER | MANAGING EDITOR Tom Stacey

MAGAZINE CONSULTANT Michelle Jacoby

PRODUCTION ASSISTANT Nicolle Lee

CONTRIBUTORS Aram Anthony, Doug Bonderud, Julia De Simone, Bruce Farr, Debra Gelbart, Angela Muniz, Jake Poinier

VP | CREATIVE DIRECTOR Ron Gligic

SENIOR DESIGNERS Nathan Joseph and Diana Ramos

In Your Corner magazine may contain trademarks or trade names owned by parties who are not affiliated with California Bank & Trust, Zions Bancorporation, N.A. or its affiliates. Use of such marks does not imply any sponsorship by or affiliation with third parties, and California Bank & Trust does not claim any ownership of or make representations about products and services offered under or associated with such marks. Articles are offered for informational purposes only and should not be construed as tax, legal, financial or business advice. Please contact a professional about your specific needs and advice.

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Giving back gets personal

Corporations and employees are finding new approaches to giving back

BY BRUCE FARR

T O GIVE OR not to give… For large and small companies—as well as their employees—it’s hardly a question any longer. Now, it’s a matter of prioritizing “corporate social responsibility” and a company’s long-term strategies for giving, as well as how to support the volunteering and/or charitable work of employees. Evolution of corporate citizenship Corporate philanthropy is hardly a new idea; all manner of companies have been busy establishing direct channels to make financial and other in-kind donations to worthy causes for many generations. The broad roots of modern-day corporate social responsibility really got their start in the 1970s and 1980s, when the contemporary idea of “corporate citizenship” began to take shape. The concept underscored the idea that businesses weren’t only in it to make profits. Rather, it suggested that—in the course of conducting their business—they also bore a social and ethical responsibility to aid in the welfare and well-being of their communities and citizens. It was then that companies began to increase their public awareness of social causes, and established

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IN YOUR CORNER ISSUE 15 | 2023

By the Numbers: Charitable Giving

Banking and giving While it’s true that companies and corporations of all stripes are involving themselves in strategic charitable giving, banks and other financial institutions are in a particularly advantageous position to play a more pronounced role in aiding charitable causes. Aaron Tunison, a senior vice president and senior wealth planning strategist for California Bank & Trust, sees this firsthand. “Because it is their business to advise and assist their clients in the ways and means of financial planning, banks are in a unique position to further advance these worthy causes across the board,” he says. Tunison notes that as an employee of CB&T, and in his very specific role of advising and educating clients on how to accomplish their charitable goals,

a moral imperative that they and their employees include giving back as a direct function of their business activities and their employment. Corporate philanthropy has evolved further over the last decade. One of the key developments is how responsive corporate causes have become to the leading cultural and political issues of our times. In fact, a recent survey in Forbes magazine revealed that in 2022, nearly a third of U.S. companies allocated new funding to support recovery and disaster relief in Ukraine as a result of the war in that country. Here at home, more than 90% of the companies surveyed reported an increase in funding that addresses racial inequality. Today, the importance of corporate social responsibility can’t be overstated. Businesses— especially large corporations—are generally expected to take a leadership role in addressing social, educational, health-related and environmental challenges. That corporate mandate is reflected in innumerable strategies to actively fund charitable causes and organizations. Customized volunteer experiences One of the major outcomes of the emphasis on today’s corporate charitable giving is reflected in how many different opportunities it presents for employees to give back to their communities. Companies are clearly getting creative. Project Angel Food, for example, is a Los Angeles County-based nonprofit that cooks and delivers healthy meals to people suffering from serious, disabling illnesses. The organization exists largely through individual, corporate and governmental

In 2022, Americans gave $499.33 BILLION to charity. The largest source came from individuals, who contributed $319.04 billion, presenting 64% of total giving.

Corporations gave more than $21 BILLION to nonprofits in 2022, an increase of 3.4% over 2021. The top 10 most generous corporations donate over $2 BILLION annually to nonprofits, much of it through employee matching gift programs. 91% of companies match donations dollar for dollar. 84%

donations, as well as individual and corporate- sponsored volunteering. In fact, volunteers are the heart of Project Angel Food. Each year, thousands of local individuals, many of whom participate in corporate “give back” initiatives, dedicate more than 40,000 hours helping prep food in the kitchen, pack meals, deliver meals or help with administration. Another program for corporate-sponsored volunteerism in the community is Dollars for Doers, which provides financial donations, or service grants, to nonprofits based on the number of volunteer hours corporate employees perform. According to Bright Funds—an organization whose sole purpose is to assist companies in developing corporate social responsibility strategies—for every hour volunteered, a company will match those hours at a designated rate-per-hour, and donate those matching funds to the charity where the employee volunteers his or her time.

the bank is fully behind charitable work and that philosophy of doing business. “In my view,” he continues, “what’s interesting is that the emphasis on corporate giving to worthy causes has had a trickle-down effect on the employees of those companies. Company leaders are encouraging them to personally get involved in charitable organizations the company supports, as well as charities of their own choosing.”

“The emphasis on corporate giving to worthy causes has had a trickle- down effect on the employees of those companies.” Aaron Tunison Senior Vice President and Senior Wealth Planning Strategist, California Bank & Trust

of employees say they’re more likely to donate if a match is offered, while one in three say they’d give a larger gift if matching is applied to their donation. 40% of Fortune 500 companies offers volunteer grant programs, which award monetary grants to organizations where their employees regularly volunteer. 80% of companies with volunteer grant programs pay between $8 and $15 per volunteer, per hour volunteered. 65% of Microsoft employees participate in annual giving campaigns, making the company the largest contributor of corporate philanthropy funds.

Primarily, Tunison says, the bank’s responsibility in promoting charitable giving is a moral one. “It’s just the right thing to do. Anytime we have a client who is charitably inclined, it’s important to recognize and support that inclination to help others.” From the bank employees’ perspective, that philosophy of giving back takes many forms, Tunison explains. “There are numerous CB&T bank employees who serve on the boards of a variety of charities. So, at any given time, there might be a lot of different charitable causes that the bank is supporting, either in the form of straight allocations of funds or through the ‘roll-up-your-sleeves’ activities our employees engage in to personally support those causes.”

Today, the importance of corporate social responsibility can’t be overstated. Businesses— especially large corporations— are generally expected to take a leadership role in addressing social, educational, health- related and environmental challenges.

Source: Double the Donation

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IN YOUR CORNER ISSUE 15 | 2023

SEASON OF GIVING Celebrate the Season with some extra cheer

YOU COULD WIN $ 5,000

“I believe strongly in giving back to the community, so I think it’s fantastic that we’re seeing an increase of philanthropic involvement.” Aaron Tunison, Senior Vice President and Senior Wealth Planning Strategist, California Bank & Trust

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Looking back at the past six years that he’s been with CB&T, Tunison says he’s seen more of that activity—that tendency for employees to get involved in charitable causes. “Personally, I believe strongly in giving back to the community, so I think it’s fantastic that we’re seeing an increase of philanthropic involvement, whether it’s working in a soup kitchen or feeding the needy during the holidays and things of that nature.” Gifting as part of estate planning On the bank client side of philanthropic giving, it’s still the province of the wealthy, as Tunison points out. Although there are several avenues for less- affluent individuals to structure charitable giving into their estate planning, the overwhelming number—and amounts—of philanthropic investments are made by the extremely wealthy. “In my world, a lot of times, people factor in the tax benefits of charitable giving into their financial planning, and that’s one of the primary drivers for this kind of estate-based planning,” he said. “Of course, there’s always an underlying commitment to the cause, to the mission of that charity. I even have some clients who go so far as to create their own

foundations to support causes that they strongly believe in.” Indeed, while tax breaks are a big factor in structuring charitable giving, legacy estate planning offers many individuals a chance to personally fulfill their lifelong goals for ongoing generational giving to their most heartfelt causes. And that’s precisely where Tunison says he devotes the bulk of his work on behalf of CB&T. “In many cases, we’re helping our clients transition from having been a business client to a wealth management client, helping them continue to accomplish their personal financial goals.” This involves developing sophisticated estate planning and business succession strategies. For clients interested in establishing multi-generational philanthropic giving into their estate planning, Tunison urges them to include their families in the discussions surrounding their goals. “Regardless of what causes or charitable organizations you ultimately choose to support, keep in mind that, in addition to being personally fulfilling, it enables your family members to carry on that tradition of giving far into the future, and that is, without a doubt, a winning strategy for everyone.”

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Official rules apply 5

IN YOUR CORNER ISSUE 15 | 2023

HOLIDAY TIPPING

I F YOU FEEL LIKE you’re being asked to tip at higher rates and at more locations, welcome to the club. According to a recent survey by Bankrate, two-thirds of U.S. respondents have a negative view of tipping—including 32% who are annoyed by pre-entered tip screens and 30% who agree with the statement “tipping culture has gotten out of control.” Several new phrases have entered our vernacular in the past few years. “Tipflation” describes the increase in expected tip rates. “Tip creep” covers the trend of touchscreen point-of-sale systems asking if you’d like to leave a tip, even when the transaction doesn’t seem tip worthy. And “tip fatigue” is just what it sounds like: a negative reaction to the combination of the first two.

How did we get here? The primary culprits are the COVID-19 pandemic and the proliferation of touchscreen checkouts. In the case of the former, generous tipping became a way to show support for restaurant workers and owners whose businesses were limited to takeout and delivery during the pandemic. In the case of the latter, there are a couple of factors. First, touchscreens can be preprogrammed with suggested tip levels, which have crept up from the traditional 15% to 18% to as high as 30%. Second, those same touchscreens have expanded into other venues such as coffee shops, food trucks and fast-food joints. Finally, when a restaurant uses handheld credit card readers, you may feel pressure if the server is watching as you press the button on your tip selection. Due to human nature, the higher the suggested

tip, the more we’re likely to tack on to the bill. Those tactics have been quite effective, with a Forbes Survey finding that 32% of respondents leave larger tips than they did pre-pandemic, and 75% tip at least 11% more. Tips on tipping Even with the pandemic in the rearview mirror and restaurants operating at full capacity, the aftereffects continue to linger. If you’re confused about who and how much to tip, you’re in good company, with 15% of Bankrate’s survey respondents saying that’s how they feel. So what’s the best way to navigate the ever-expanding world of tipping? Most of us draw a distinction between various levels of service, and that rule of thumb hasn’t changed. It’s been over a century since Emily Post wrote her first book, Etiquette. Since her death in 1960, Post’s family has continued dispensing advice on good social form. As one might expect, their advice remains very traditional: 15% to 20% on your pre-tax bill for a sit-down restaurant or 10% for a buffet. While there’s no obligation to tip on a takeout order, consider tipping 10% for the extra service of a curb delivery or large, complicated order. Delivery orders warrant a recommended range of 10% to 15% of the bill. There’s no need to overthink it, Deidre Popovich, an associate professor of marketing at Texas Tech University, told TheHill.com. “They present you with three options, and the middle option is always most appealing. I can just click the default and then move on with my life.” What about quick-service restaurants such as Starbucks, Panera, and McDonald’s? Almost half of them now give customers the option to tip, according to Toast, a restaurant management software company.

Cornell University professor Michael Lynn, who studies consumer behavior, takes different occupations into consideration. “It’s mostly restaurant waiters and waitresses that are paid less than the minimum wage. So, for them, tips are critical,” Lynn told CBS News, whereas baristas and other service workers are often at minimum wage or higher. “I feel obligated to tip waiters, but anybody else, I don’t feel obligated. But often I do tip if they’ve gone above and beyond.” No matter how you choose to tip, you can leave your guilt at home. “No one should feel pressured to tip more than the standard percentage, if at all,” Michael von Massow, associate professor of food economics at the University of Guelph, told CBS News. “If a business is prompting you with a tip percentage higher than you are comfortable with, you can always enter a custom amount that you feel is appropriate instead.” On the other hand, if you’ve had great service, there’s no need to hold back. According to Bankrate, 35% of adults in the U.S. say they feel good when they leave a generous tip. All about balance While the tipping landscape has grown more complex in the last few years, it’s really all about balance. For customers, it’s about making an “investment” in the people who’ve made your buying experience exceptional. For service workers, it’s about providing great customer service, while understanding that tips don’t define your worth. Whether you’re leaving a tip for a server at your favorite restaurant, a barista at your local coffee shop, or a delivery person or courier, remember that tipping isn’t just about the money; it’s about the show of generosity and recognition for a job well done.

With the holidays approaching, you

might be thinking about what types of tips are appropriate for various service providers. Here’s a quick list of guidelines from Emily Post.

Babysitter An evening’s pay in cash and a small gift from the kids.

TIPFLATION: Navigating the changing landscape of gratuity BY JAKE POINIER

Daycare provider $25 to $75 cash or a gift for each staff member who works with your kids.

Housekeeper Up to one week’s pay and/or a small gift.

Beauty salon staff Cash or gift up to the cost of a salon visit.

Dog walker Cash or gift up to one week’s pay.

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IN YOUR CORNER ISSUE 15 | 2023

Pull the plug

on common

BY ARAM ANTHONY

smartphone scams ONCE CONSIDERED luxury items, smartphones are now essential everyday tools relied on for communication, entertainment, breaking news and so much more. They even help users manage their finances. Unfortunately, today’s smartphone user must maintain constant vigilance against high-tech scammers. We’ve looked into some current scams to help heighten your fraud awareness, as well as provide ways you can help protect yourself against them.

Threatening calls from the government How to tell it’s a scam: Anyone claiming they’re from the IRS demanding payment over the phone is a scammer. They may even threaten you with imminent arrest. The IRS does not communicate via phone and they do not threaten people with arrest. What you can do: As soon as you identify the call as a scam, hang up. You’re not being rude,

Fake charity appeals

Family members in peril

Other urgent requests

How to tell it’s a scam: The caller claims to represent a charity, often one that involves children, disaster relief or any kind of cause that tugs at the heartstrings. What you can do: Never give the caller any kind of donation over the phone. Almost all legitimate charities have an official website where you can safely submit a donation. Lottery scams How to tell it’s a scam: If a caller tells you that you’ve won a lottery prize—but before you can collect your prize money, you have to pay taxes, it’s a scam. You should never have to pay money to collect a prize. Also, never trust anyone who tells you that you’ve won something from a contest or lottery you didn’t enter.

How to tell it’s a scam: Seniors are a favorite target of this scam. Someone claiming to be a family member calls to tell you they are in trouble (maybe they’re in jail or their car has broken down) and asks you for money over the phone. What you can do: If you get a call like this, hang up and call them back directly, using a phone number from your contacts. If they claim to be in legal trouble, ask them where they are being held. If they tell you a location, hang up and call that police department or courthouse. Bank fraud calls How to tell it’s a scam: Always be suspicious of anyone calling to notify you of fraudulent activity in your bank account, especially if they ask you for sensitive information like bank account numbers or passwords. What you can do: Do not give the caller any private information. Instead, hang up. Most banks have online alerts you can set up in your mobile banking app to notify you of suspicious activity. You can also call your local branch, but never use a number given to you over the phone or in a voicemail.

How to tell it’s a scam: One thing most phone scams have in common is a heightened sense of urgency; you must pay/provide private information/ rectify this situation right now or there will be some kind of dire consequences.

What you can do: As a general rule, do not engage with these callers. Simply hang up.

you’re protecting yourself.

A growing trend is to refuse to answer any call from an unfamiliar number. Legitimate callers will leave a voicemail message that you can respond to on your terms. While it’s true that scammers sometimes leave messages too, those are easy to erase. In addition, a good rule of thumb is to never buy anything over the phone if you did not initiate the call. Also, if a caller asks to confirm your health insurance information, hang up and call the number on your insurance card. Our smartphones are essential companions, and as such, they aren’t going anywhere. But staying vigilant and following the guidelines above may help protect you from those seeking to commit fraud by phone.

Technical support calls

How to tell it’s a scam: You receive an unsolicited call from someone claiming to be from a tech company like Microsoft or Google, telling you there’s a problem with your computer. Over the phone, they’ll walk you through fixing it, but their instructions will most likely download malicious software that could reveal your personal information or, worse, give them control of your computer. What you can do: End the phone call as soon as possible. For further assurance, you can call tech support from the company the caller is claiming to be from. You can find the number on the company’s website.

What you can do: As with most phone scams, the best way to protect yourself is

to simply hang up.

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IN YOUR CORNER ISSUE 15 | 2023

Golden State

Kings River Winery SANGER In California, a state known for its world- renowned wineries, a fine bottle of wine is the perfect gift for any occasion. If you’re looking for the perfect vintage to gift this holiday season, explore Kings River Winery in the San Joaquin Valley, which offers an impressive range of white and red wines, including their Rescue Red. It’s a blend of Alicante Bouchet and Zinfandel, and for each bottle sold, $10 goes to the Valley Animal Center to support their mission of saving homeless dogs and cats. kingsriverwinery.com

treasures

BY MICHELLE JACOBY

AS THE HOLIDAY season approaches, we invite you to discover a treasure trove of unique gifts that capture and celebrate the essence of the Golden State. From artisanal foods and wines to blooming bouquets and handcrafted creations, these presents are sure to delight your loved ones in true California style.

Painted Earth Pottery & Art Studio TEMECULA Nestled in the heart of wine country, Painted Earth allows you to channel your inner artist

Maya’s Cookies SAN DIEGO

A self-described “vegan with a sweet tooth,” Maya Madsen has been making gourmet vegan cookies since 2015. Her award-winning flavors run the gamut from the classic chocolate chip cookie baked to perfection, to the famous “Everything” cookie loaded with chocolate chips, pretzels, oatmeal, pecans, caramel chips and marshmallows. Through her company, Madsen has supported various causes including underserved communities, as well as Black, female and LGBTQ entrepreneurs. mayascookies.com

to create a one-of-a-kind gift for your special someone. From handcrafted pottery and ceramics to canvas and glass art, you’ll be guided by an experienced instructor who will walk you through the creative process. You can also commission a personalized gift

made by a member of the studio’s creative team. Whichever option you decide, your gift of artistic expression will become a memorable keepsake for years to come. paintedearthpottery.com

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IN YOUR CORNER ISSUE 15 | 2023

Meaningful gifts that make a difference

Dos Gringos Flower Company VISTA

Give a blooming burst of sunshine with a bouquet from Dos Gringos. Specializing in unique sunflower varieties, the company has fields in southern California and Mexico, where flowers are shipped to their distribution centers within 24 hours of harvest. Choose from an array of varieties, including a soft yellow buttercream or an intense chromatic copper. Bouquets are available at retailers throughout California at dosgringos.com or directly through their online flower delivery services sunflowerguy.com .

If you’re looking for an out-of-the-box gift idea, consider products that embody the true spirit of the season: giving back. Focused on making a social impact, these California-based businesses are proof that your present can create a positive ripple effect that not only touches your loved ones’ hearts, but also the lives of people everywhere.

Lula’s Garden INGLEWOOD

Perfect for the plant-lover in your life, a hand-planted succulent garden from Lula’s Garden is guaranteed to brighten any room. Plants are sourced from local family- owned nurseries, and because they’re native to desert climates, they’re easy to care for. In support of Water.org, each garden sold provides six months of safe water for someone in the developing world. lulasgarden.com Gray Whale Gin SANTA ROSA Named for the gray whale that each year makes a 12,000- mile migration from the Baja Peninsula to the Arctic, Gray Whale Gin is quintessentially Californian. Spirits are made with locally sourced or wild-foraged ingredients, while bottles are designed with organic paint and include a biodegradable cork. In support of ocean conservation, 1% of annual sales benefit Oceana, whose mission is to protect and restore our oceans. graywhalegin.com

Ballard & Ballard FOUNTAIN VALLEY

For more than 100 years, Ballard & Ballard has mastered the art of designing exquisite jewelry crafted by four generations of family members. The boutique-style shop has a collection of expertly made rings, earrings, pendants and bracelets, as well as stunning engagement and wedding pieces. For the ultimate gift, create a custom piece designed by one of the shop’s experienced designers. ballardgem.com

Torn Ranch PETALUMA

Bloomhouse Kitchenware COMMERCE

Vuori ENCINITAS Epitomizing the true coastal California lifestyle, Vuori puts a fresh take on performance apparel. A Climate Neutral Certified brand, the company is dedicated to measuring, reducing and compensating for their emissions in making their products, which range from stylish tops and jackets to comfortable leggings and joggers, and everything in between. vuoriclothing.com

The gourmand in your life will delight in a gourmet gift basket overflowing with treats curated by Torn Ranch. Inspired by the Napa Sonoma wine country, gourmet offerings include an assortment of fine chocolates and confections, prime nuts, dried fruits and homemade cookies. Even better, ingredients are ethically sourced from non-GMO crops that help support the honeybee population critical to agriculture and the environment. tornranch.com

When founder and designer Daniel Gabbay started Bloomhouse, he set out to create vibrant and beautiful kitchenware that is also eco-friendly and free of toxins. From high-quality cookware and knives to expertly glazed dinner and service ware, these unique pieces will delight your favorite chef. For each set sold, a tree will be planted through One Tree Planted, a nonprofit dedicated to reforesting the earth. bloomhousecollection.com

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IN YOUR CORNER ISSUE 15 | 2023

Banking on artistic expression I F YOU’VE BEEN TO San Diego’s Hillcrest neighborhood recently, you may have BY DEBRA GELBART

noticed a beautifully colorful, hand-painted

mural covering two sides of the California Bank & Trust (CB&T) building at 3737 Fifth Avenue. And you may have wondered how the artwork came about and who the amazing artist is behind it. As part of a complete renovation of the Hillcrest branch, CB&T executives

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IN YOUR CORNER ISSUE 15 | 2023

YOU COULD WIN $10,000 Official rules apply 1

were looking for an element that underscored the 61-year-old building’s iconic place in the community. “We imagined how awesome it would be to have a mural as the ‘icing on the cake’ once the renovation project was completed,” says David Russell, senior vice president of corporate real estate facilities at CB&T. “I loved the idea of the mural making the building part of the community, as opposed to just another renovated building in the community.” Tapping a local talent The renovation team knew they wanted a local artist to create the mural. After a thorough search, which included proposals from several artists, they commissioned Austin Gosswiller, a 32-year- old San Diego native who had created murals for other commercial and community enterprises in Southern California, including one at Portuguese Hall in San Diego. Gosswiller and the CB&T team worked together to come up with a design concept for the mural, which wraps around the south and east walls of the Hillcrest building. At the heart of the art is a representation of the iconic Hillcrest neighborhood sign that hangs just a few blocks away above University Avenue. The mural also includes the historic Balboa Park Tower and Cabrillo Bridge, Harper’s Topiary Garden, the San Diego skyline and the city’s famous San Diego

Focal point for the community The Hillcrest location was chosen for the mural, Russell notes, “because it’s in an interesting and diverse area of San Diego, offering an opportunity to reflect the bank’s diversity, as well. It seems from the feedback we’re receiving that the community is excited and enthusiastic about the mural. My hope is that it’s a piece of art that will further knit this community together.” He believes this project could lead to murals at other branches. “This mural means so much to the Hillcrest community,” says Tammy Keen, CB&T Hillcrest branch vice president and business center manager. “Our customers love it and have enjoyed watching the mural come to life. They appreciate the commitment that CB&T has made to this community by celebrating the diversity it offers.” Keen says she was honored and proud “that my location was chosen for the mural. It’s such a wonderful feeling to know we’re investing in our community.” Gosswiller says he’s received lot of attention both while he was painting the mural and ever since. “One of the coolest aspects of doing murals is the people you meet,” he notes, adding that he hopes to travel nationally and internationally to paint professionally. “We met a bunch of people in the area who want murals of their own now. Working on the Hillcrest project was a great overall experience. Just awesome.”

Be entered for a chance to win Whether you’re holiday shopping or just making an everyday purchase, you’ll receive one sweepstakes entry every time you use your personal credit or debit card. Official rules apply. 1 10,000 when you use your debit or credit card 1 $ Picture this — you pay with your CB&T personal debit or credit card and you’re automatically entered for a chance to win $10,000! It doesn’t get any easier than that.

Zoo. It incorporates vibrant and highly

saturated reds, oranges, yellows, blues and greens. Gosswiller’s friend and fellow artist Jack Stricker helped with installation of the Hillcrest mural. “I drew inspiration

from what the area represents, kind of a positive vibe,” Gosswiller says. “I tested out different colors and went from there.” The entire mural, rendered by using

water-based acrylic paints, only took him about three and a half weeks in June and early July 2023 to complete.

Visit calbanktrust.com/ visaholidayrules for more details.

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IN YOUR CORNER ISSUE 15 | 2023

How to create a great legacy: Putting it all together I N PART TWO OF OUR three-part series “How to BY DOUG BONDERUD

Create a Great Legacy,” in Issue 14 of In Your Corner, we discussed finding a fair value for your business before you move on and avoiding common pitfalls in your succession planning. That brings us to part three: Helping your legacy thrive. At this point, you’ve sold the business, identified your successor and, hopefully, avoided any serious family drama. Now you’re looking forward to a well- deserved rest, with a legacy that provides for you and your children, while leaving an indelible and positive mark on the business you built. But how do you get from point A to point B? How do you ensure your legacy doesn’t just start strong, but has enough staying

power to survive and thrive over time? It all starts with great help. Selling your business is just the start When it comes to selling your business, it’s worth having help. The process of determining business value, finding a buyer (or naming a successor) and closing the deal often comes with massive

How do you ensure your legacy doesn’t just start strong, but has enough staying power to survive and thrive over time?

stress. Some owners report panic attacks during the process, while others find it hard to slow down their frenetic pace even after the business is sold. Just as it did when you were building your business, having the right team on your side can make the process easier. Consider the case of a business owner choosing to exit and sell the company to an investment

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IN YOUR CORNER ISSUE 15 | 2023

How your priorities pivot after leaving Leaving a business you’ve built from the ground up is never easy. As noted by the Harvard Business Review (HBR), this transition often comes with emotional fallout. While you’ve achieved the goal of running a successful business, making a great sale and, hopefully, leaving the company in the hands of someone who cares about what comes next, you’re also in an entirely new position. What do you do with your time? What are your plans for the immediate future? For the long term? To help navigate this pivoting of priorities, think about what succession means for you, rather than the business itself. The HBR piece recommends creating a six-month game plan for the immediate aftermath of selling your business that includes specific goals. For example, you might decide to take a long vacation, learn a new skill or tackle a long-overdue project around your home. In practice, it doesn’t matter what you choose—the first few months post-sale are all about finding out who you are without your business, and what you want moving forward. For many business owners, this time lets them rediscover what they’re passionate about. For some, it’s community revitalization projects. For others, it’s scholarship funds or support for the arts. Whatever your philanthropic intent, it’s worth working with a team of advisors to help draft a clear statement of intent. Is your plan to make regular donations? To create a family foundation? To play an active role in the charity or group itself? Depending on which framework best meets your new priorities, you’ll need different legacy structures. Simple donations can be scheduled as needed, while

firm. What happens if the buyers abruptly drop the value of their offer, or start stonewalling on specific conditions? What if they have a team of lawyers at their disposal, requesting meeting after meeting and document after document? If you’re still running

family resistance. It took a year of infighting and litigation before the dust settled: Wallace was out of the company and he didn’t reconcile with Harrison for decades. The same can happen to any business when family dynamics come into play. Some family members may be hoping to take over the business, while others want a larger role but not all the responsibility of ownership. Some see the value in holding the company as an asset, and others want to see a total sale with the proceeds distributed evenly. As a result, it’s worth partnering with legacy professionals to help evaluate your options and determine what works best for your family. For example, you might decide to create a trust that allows your children or grandchildren to access funds for specific purposes. But creating an effective trust is complicated. Too broad

your business, it’s easy to get overwhelmed by the details and make a mistake that negatively impacts your legacy. Backed by a team of trusted business advisors, you’re in a better position to ensure you get the value you deserve for your company, in turn laying the foundation for a long-term legacy. By letting experts in the field handle the

Backed by a team of trusted business advisors, you’re in a better position to ensure you get the value you deserve for your company.

Creating a detailed statement of wealth transfer intent with the advice of industry experts can help streamline the process of succession planning and reduce the risk of family infighting over assets.

back-and-forth between buyers, investors and even family members, you can reduce the stress of selling your business, while you focus on what matters: determining exactly what you want your legacy to look like. But this is just the beginning. Once the ink is dry and the deal is done, the real work begins. How cash flow shifts after selling When your business is operational, the cash flows from the company itself. Some owners choose to pay themselves a salary, while others leverage the revenue of the company where and when they need it. When it comes to your legacy, meanwhile, cash flow shifts significantly. Instead of taking a steady salary or having access to cash based on sales over time, the sale of your business often provides you with substantial amounts of cash—but only once. As a result, your cash-flow function changes. Simply taking the money from your sale and

the creation of a foundation requires a more robust effort to determine who can make distribution decisions. Is it just you and your spouse? Your children? Their children? More extended family? Trusted experts in your corner can help design funding and distribution structures that help your legacy thrive over the long term. How family dynamics fluctuate after succession As mentioned in both part one and part two of our post-pandemic succession series, one of the most challenging aspects of selling your business is navigating family dynamics. Consider a situation in which two of three children want to be involved with the business moving forward, but the third does not. Should the third be bought out despite their lack of interest or not? These kinds of questions can cause significant family strife, especially if family members feel they’re not being fairly treated. This isn’t simply a thought exercise. As noted by Inc., family business, McCain Foods experienced a massive shakeup in 1993 when succession planning started. Originally founded by brothers Harrison and Wallace McCain (who were also co-CEOs) in 1957, the company sold the world’s first frozen French fries and went on to land contracts with fast-food giant McDonald’s. Everything was going to plan until 1993, when Wallace pushed for his son to become CEO despite

and family members may rely on trust-fund distributions rather than finding their own path to financial security. Too narrow and it becomes almost impossible for family members to access money when they need it. Creating and articulating a detailed and in-depth statement of wealth transfer intent with the advice

of industry experts can help streamline the process of succession planning and reduce the risk of family infighting over assets. How a team of trusted advisors can help manage everything that comes after There are two components to a successful succession-planning partnership: expertise and trust. At California Bank & Trust, expertise runs deep. Our credentialed team of advisers can help you develop a wealth management plan that’s customized to meet your legacy objectives, risk tolerances and both your short- and long-term financing needs. We also know the value of trust. We’re committed to building relationships with clients that last decades.

putting it into a bank account won’t be enough to provide for your legacy over time, while overzealous investing could leave you facing unexpected losses. To help manage your new cash-flow framework, it’s worth connecting with an experienced trustee who can help you find the balance between spending, saving and leaving the legacy you want for your family.

calbanktrust.com/ inyourcorner

IN YOUR CORNER ISSUE 15 | 2023

BUSINESS CREDIT CARDS

Having the right team on your side can help your legacy thrive in four key areas: Ownership transitions

From initial business purchasing to business loans and capital management, we’ve earned the trust of clients across California who know that we understand their unique business challenges and can help meet their specific business needs. Succession planning with CB&T gives us the opportunity to extend that trust even further and build even stronger relationships that allow owners to leverage our in-depth knowledge of their existing operations. Together, we can help you create business succession plans that don’t simply address the hard numbers of sales, spending and liquidity but help you navigate the emotional impacts of this significant life change. It’s no easy task, but with CB&T in your corner, you’ve got decades of experience at your disposal to create a succession plan that both benefits family members and builds a legacy that stands the test of time. Considering a post-pandemic succession plan? Start with CB&T 1 . From selling your business to navigating pitfalls and streamlining succession planning, we’re here to help ensure your legacy lasts.

What happens after you leave? Who takes over? When? What conditions

are in place and what does this mean for any other partners or stakeholders? CB&T advisers can help walk you through the complicated process of succession planning to ensure you’re equipped with all the information you need to make an informed decision. Wealth management 1

Once you leave your business and get paid for the sale, liquidity management

becomes critical. Our experts can help craft an investment plan that puts your money to work for you, in the way that works best for you. Personal growth

Run your business — and earn an Amazing bonus 1 It’s your choice: cash back, rewards, or our lowest rate Amazing Rewards® Earn rewards for your business, with quick and simple redemption 2 Amazing Cash® Earn cash back on common business purchases, travel and everything else 3 Amazing Rate® Get one of our lowest rates, and simple, straightforward value

Our teams are also here to facilitate your personal growth after leaving

You can find more content like this at www.calbanktrust.com/blog

the business behind. This could mean taking care of your money while you take a much- needed break and then helping you create a philanthropic foundation that supports the causes or charities you’re passionate about. From donations to grants to disbursements and community investments, we have the knowledge and experience to underpin your plans for personal growth. Family security

Disclosure: The information contained herein may not represent the views and opinions of California Bank & Trust, a division of Zions Bancorporation, N.A. or its affiliates. It is presented for general informational purposes only and does not constitute tax, legal or business advice.

Successful owners often spend years giving all their time and effort to the

business to provide for their families. And when it’s time for succession, family is also the first thing on their minds. How do they limit the risk of family infighting? How do they ensure family members are provided for while still leaving room for them to walk their own path? How do they rest easy knowing that children, grandchildren, and other close family members can leverage their legacy to stay financially secure?

To learn more and apply, visit calbanktrust.com/ businesscards

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IN YOUR CORNER ISSUE 15 | 2023

BY JAKE POINIER

Adding high-tech to Higher Grounds Given his dual role for the shop and church, Mellinger realized early on that he’d need to employ technology to streamline the processes. “As a church planter (an entrepreneur who starts new churches), I have some technological savvy. I actually helped create a whole computer system for our church some 40 years ago when computers were first coming out,” he says. “But even though I’ve kept up to date with technology, I don’t have accounting skills or training—that wasn’t covered in seminary! I knew I needed to have electronic tools to make my life easier.” Clover, a point-of-sale system, was Mellinger’s first addition to the lineup. 1 “We’ll still have a fair number of cash payments and cash tips, but most people use cards at this point,” he says. The shop’s Clover system is tied to an electronic cash register and printer with a large display for staff members, and a Clover Mini that customers can use to pay and tip with credit or debit by swiping, touching or inserting, and generate a receipt. “We used to have to turn the Clover around for the customer so they could put in their information, and then turn it back around to us,” Mellinger says. “Having the free-standing device just for the customer makes it easier for them and hands-free for our staff.” Perfecting product sales While Clover simplified the food and beverage transactions, it wasn’t suitable for handling their consignment sales. After experimenting with a few different payment apps, Mellinger concluded that Zelle® was the perfect answer. “Zelle® makes it so much easier when it comes to paying people for their products that they’ve put on consignment,” he says. “It works directly with our bank account, which is really a positive for record keeping since the people we’re paying change from month to month.”

Unlike apps that don’t provide a category for expense logging, Zelle® gives Mellinger the details of how much they paid World Mission for coffee or how much they paid artists for their works. That makes it easier to separate the consignment reimbursements from his other costs and separate consignment income from the shop’s income, while also making it simpler to track and categorize inventory. Seamless accounting Mellinger also appreciates how Zelle® ties into California Bank & Trust (CB&T) systems. “I do all my banking online, so I download everything from our CB&T bank account into QuickBooks,” he says. “Every day, I’m downloading our income, checks and expenses, so I’m always up to date and know where we

Cashless systems boost small-business growth and efficiency

“Having all these tools that work together as one just really makes my job easy.” Bill Mellinger Pastor and bookkeeper, Higher Grounds Coffee

H IGHER GROUNDS COFFEE HOUSE in Crestline, California, offers everything you’d want in a specialty coffee shop—and then some. In addition to high-grade coffees, they have a roster of specialty drinks made with their own syrups, such as lavender latte and chai tea. If you’re hungry, you can kick off the day with made-to-order breakfast sandwiches or some of their in-house baked goods. During the week, they offer build-your-own sandwiches with a wide range of meats, cheeses, veggies, dressings and breads. But Higher Grounds is also a bit unusual in the world of java. While it had been in operation for about 15 years under several different owners, the shop was purchased by Crestline First Baptist Church a little over five years ago. In addition to a subtle nod to the adjacent church, the name is apt for a location nearly a mile high up in the San Bernardino Mountains. Beyond drinks and food, Higher Grounds offers an ever-changing array of items on consignment. “For example, we have a World Missions coffee that supports mission work in Latin America,” says Bill Mellinger, church pastor who also performs coffee shop bookkeeping duties. “That’s our single-origin coffee. We also sell some of their products that help support their mission, including protecting growers and workers against human trafficking. And really, that’s been one of our missions, adding value when anyone buys our coffees.”

stand with our accounts. CB&T’s online commercial banking tool gives me the detail of every transaction, so it’s right there for me.” By adding Clover and Zelle®, cashless transactions have also become seamless transactions. “I’m a pastor, not an accountant, but I still need to balance the books,” Mellinger says. “Having all these tools that work together as one just really makes my job easy.”

1. Merchant Services products and services are provided by Clover affiliate First Data Merchant Services LLC and not by California Bank & Trust, a division of Zions Bancorporation, N.A. Member FDIC. ©2023 Clover Network LLC. The Clover name, logo and related trademarks are owned by Clover Network, LLC., and are registered or used in the U.S. and many foreign countries. Use of Clover requires a Merchant Processing Agreement. All trademarks, service marks and trade names referenced in this material are the property of their respective owners.

Other consignment items include a constant rotation of artwork from a variety of local artists. “It helps them and also blesses us with always having new, fresh artwork in the shop,” Mellinger continues. “This summer, we had a photographer on the mountain, so we featured his prints, which he framed in reused wood from projects he has worked on as a contractor.”

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IN YOUR CORNER ISSUE 15 | 2023

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