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Five Star Bank parent reports Q3 net income jumped 52 percent
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently reported net income of nearly $20.5 million in the third quarter of this year, up 52 percent from almost $13.5 million in the third quarter of 2024. The company, in its Oct. 23 earnings report, cited strong performance in each […]
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WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently reported net income of nearly $20.5 million in the third quarter of this year, up 52 percent from almost $13.5 million in the third quarter of 2024.
The company, in its Oct. 23 earnings report, cited strong performance in each of its commercial banking, consumer banking, and wealth management lines of business.
After preferred dividends, net income available to common shareholders of Financial Institutions totaled $20.1 million, or 99 cents per share, in the third quarter of 2025, compared to $13.1 million, or 84 cents, in the year-earlier earnings period.
Net interest margin expanded 76 basis points from the banking company’s year-ago quarter, to 3.65 percent this past quarter. Financial Institutions’ net interest income of $51.8 million in the third quarter was an all-time quarterly high and was up by $11.1 million, or 27 percent, from the third quarter of 2024.
Noninterest income at Financial Institutions totaled $12.1 million in the latest quarter, up $2.6 million, or almost 28 percent, from the third quarter of 2024. Higher investment advisory income and swap fees boosted results, per the earnings report.
The banking company’s total loans increased by $187.4 million, or 4.3 percent, from Sept. 30, 2024 levels, to reach $4.59 billion as of Sept. 30, 2025, driven by solid commercial-loan growth, it stated.
Financial Institutions is a financial holding company, based in Warsaw in New York’s Wyoming County, with about $6.3 billion in assets, offering banking and wealth-management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities, and businesses through banking locations spanning Western and Central New York and a commercial-loan production office serving the Mid-Atlantic region. Five Star Bank’s Central New York offices include a commercial-loan production office in Syracuse and retail branches in Auburn, Waterloo, and Geneva.

Corning Inc. donates $185K to school food centers in Chemung and Steuben Counties
CORNING, N.Y. — Corning Incorporated (NYSE: GLW) has awarded a $185,000 grant to the Food Bank of the Southern Tier to support eight school food centers in Chemung and Steuben counties. Each school will receive $22,500 to sustain school-based food pantries, with an additional $5,000 allocated for project management, Corning Inc. said in an Oct.
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CORNING, N.Y. — Corning Incorporated (NYSE: GLW) has awarded a $185,000 grant to the Food Bank of the Southern Tier to support eight school food centers in Chemung and Steuben counties.
Each school will receive $22,500 to sustain school-based food pantries, with an additional $5,000 allocated for project management, Corning Inc. said in an Oct. 15 announcement.
Part of a Food Bank initiative, school food centers serve as spaces where food and other grocery items can be distributed at no cost within a school, providing students and their families with consistent access to nutritious meals in a supportive, inclusive environment, the organization contends.
The Corning Inc. grant will support the Food Bank’s efforts to combat food insecurity in the Southern Tier, where levels far outpace the national average. Currently, 73,070 individuals in the region — including thousands of children — are at risk of hunger annually. Chemung and Steuben counties are among the hardest-hit areas in New York state, with child food insecurity rates at 25 percent and 26.7 percent above the national average, respectively.
“Food insecurity remains a heartbreaking challenge in the Southern Tier, particularly for children,” said Millicent Ruffin, division VP at Corning Community Impact (CCI). “Tackling this issue requires decisive yet collaborative action. We’re proud to partner with the Food Bank to support its innovative School Food Centers, which ensure that families in our community have access to healthy food and essential resources.”
Established in December 2023, CCI centralizes Corning’s philanthropic contributions in the U.S. under a single organization to maximize impact in areas that align closely with its values and business objectives, the company says.
“School Food Centers are transforming how we support families,” Mark Bordeau, president and CEO of the Food Bank of the Southern Tier, said in the Corning announcement. “By embedding food assistance into schools, we meet students and families where they are — building trust and reducing stigma. Corning’s generous support will help us expand this program and ensure no child has to wonder where their next meal is coming from.”
The school food center program also offers older students the chance to develop leadership and life skills through activities ranging from inventory management and budgeting to customer service.

Tompkins Chamber names new VP who will help lead key initiatives
ITHACA, N.Y. — The Tompkins Chamber recently announced it has chosen Rob Montana to serve as its new vice president. Montana has 25 years of community-focused experience in communications, stakeholder engagement, and organizational leadership, including the last four years as communications manager for Visit Ithaca, a division of Tompkins Chamber. His ability to foster strong
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ITHACA, N.Y. — The Tompkins Chamber recently announced it has chosen Rob Montana to serve as its new vice president.
Montana has 25 years of community-focused experience in communications, stakeholder engagement, and organizational leadership, including the last four years as communications manager for Visit Ithaca, a division of Tompkins Chamber. His ability to foster strong relationships with community and business leaders, as well as shaping and implementing strategic initiatives, will play a key role in helping lead the chamber as it supports Tompkins County’s economic and workforce development, and enhances the quality of life for the whole community, the chamber said in its Sept. 30 announcement.
The Tompkins Chamber says it selected Montana from among 100 applicants for the position.
“We were looking for the right person to elevate our work,” Tompkins Chamber President and CEO Peggy Coleman said in the announcement. “Rob’s passion for community building for the greater success of the Tompkins County business community is inspiring. I look forward to working with him in this new capacity and celebrating the positive impacts he makes.”
As VP, Montana will oversee the Tompkins County Employer Resource Network, manage the Live + Work in Ithaca initiative, as well as administer the Tompkins Chamber Foundation fiscal sponsorships of Tompkins Connect and Ithaca Pride Alliance. Additionally, he will collaborate with Coleman on long-term strategic planning and enhancing Tompkins County’s business climate.
“I am grateful for the opportunity to serve as Tompkins Chamber’s vice president and continue working with my dedicated colleagues to build upon the organization’s work in Tompkins County,” said Montana. “Building relationships with others in a way that strengthens the community is work I am excited to continue doing to keep Tompkins County a great place to live, work and visit.”
Montana has two decades of community journalism experience, including managing local newspapers The Ithaca Times and Tompkins Weekly and others in Maine, as well as working in development and communications roles for several nonprofit organizations and working as a grant writer. Additionally, Montana has served on several nonprofit boards and grant review committees and was a graduate of the Leadership Tompkins program in 2024.
With more than 700 members, the Tompkins Chamber says it is dedicated to making Tompkins County a great place to live, work, and do business by fostering sustainable economic growth.

Dominican-style fried chicken restaurant formally opens in Utica
UTICA, N.Y. — Downtown Utica has a popular new fast food, fried chicken restaurant with the formal opening of Equis Pica Pollo. The Dominican-style fried-chicken restaurant officially opened a new location at 1155 Mohawk St., Suite 10, with an Oct. 9 ribbon-cutting event held with the Greater Utica Chamber of Commerce. The restaurant opened to
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UTICA, N.Y. — Downtown Utica has a popular new fast food, fried chicken restaurant with the formal opening of Equis Pica Pollo.
The Dominican-style fried-chicken restaurant officially opened a new location at 1155 Mohawk St., Suite 10, with an Oct. 9 ribbon-cutting event held with the Greater Utica Chamber of Commerce. The restaurant opened to customers months earlier.
Equis Pica Pollo was founded by entrepreneur Carlos Rijo with a vision to bring the authentic flavor and family-centered experience of the Dominican Republic to communities across the U.S., the Greater Utica Chamber said in an Oct. 7 email announcement.
The first location of Equis Pica Pollo opened in Brooklyn, quickly gaining local popularity for its signature pica pollo, homemade sides, and welcoming atmosphere. The restaurant has now expanded to five states with Utica being its 18th location.

Brown & Brown, Inc. (NYSE: BRO) — the Florida–based parent of Brown & Brown of New York, Inc., which has an office in Syracuse — recently announced that its board of directors has increased its regular quarterly cash dividend by 10 percent. The insurance-brokerage firm will pay a dividend of 16.5 cents per share on
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Brown & Brown, Inc. (NYSE: BRO) — the Florida–based parent of Brown & Brown of New York, Inc., which has an office in Syracuse — recently announced that its board of directors has increased its regular quarterly cash dividend by 10 percent.
The insurance-brokerage firm will pay a dividend of 16.5 cents per share on Nov. 12, to shareholders of record on Nov. 5. The dividend is up from the 15 cents a share that Brown & Brown paid last quarter. It marks its 32nd straight annual dividend increase, according to the firm’s Oct. 22 announcement.
Brown & Brown also reported that its board has authorized the purchase of up to an additional $1.25 billion of the company’s common stock outstanding. With this authorization, Brown & Brown will now have approval to repurchase up to $1.5 billion, in the aggregate, of the company’s shares. The firm said it will buy back the stock from time to time, at the company’s discretion and subject to the availability of shares for purchase, market conditions, the trading price of the stock, and alternative uses for capital. Other factors considered include the company’s financial performance and objectives to reduce dilution from Brown & Brown’s employee equity incentive plans, decrease outstanding shares, or manage other potential factors.
Daytona Beach–headquartered Brown & Brown says it is a major insurance-brokerage firm delivering comprehensive and customized insurance products and risk-management services since 1939. It has more than 23,000 employees and over 700 offices worldwide. Brown & Brown makes frequent acquisitions of insurance agencies a major part of its growth strategy. Its stock price has declined about 12 percent year to date and fallen 15 over the last year, as of Oct. 24, according to Yahoo Finance data. But Brown & Brown’s stock is up more than 27 percent over the last two years and up 102 percent over the past five years.
Brown & Brown has an office at 500 Plum St. in Syracuse’s Franklin Square area.

Kotlikoff formally inaugurated as Cornell’s 15th president
ITHACA, N.Y.— Michael I. Kotlikoff was officially installed as Cornell University’s 15th president in a Friday, Oct. 24 ceremony in Barton Hall on the university’s campus. Kotlikoff had been appointed as Cornell president back on March 21, after having served as interim president since July 2024. The inauguration event followed a dinner for Cornell trustees,
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ITHACA, N.Y.— Michael I. Kotlikoff was officially installed as Cornell University’s 15th president in a Friday, Oct. 24 ceremony in Barton Hall on the university’s campus.
Kotlikoff had been appointed as Cornell president back on March 21, after having served as interim president since July 2024.
The inauguration event followed a dinner for Cornell trustees, council members, and guests as part of the trustee-council annual meeting schedule, according to an Oct. 27 Cornell Chronicle article.
Anne Meinig Smalling, chair of the Cornell board of trustees, presided over the ceremony, welcoming Kotlikoff’s family members and the two former Cornell presidents in attendance — Martha E. Pollack and Jeffrey S. Lehman.
Bob Harrison, emeritus chair of the board of trustees, offered a toast, lauding Kotlikoff for his 25 years at Cornell as a professor, department chair, dean and then as the longest-serving provost in Cornell’s history (2015-24) before stepping into the role of interim president in 2024.
Provosts rarely go on to become presidents of the same university, Harrison noted, because they typically must make many unpopular administrative decisions and balance competing academic interests and priorities, according to the Cornell Chronicle.
“Remarkably, while Mike has done all of these things, every dean with whom I have spoken during his tenure has told me how fair, straightforward and decent Mike has been as their boss,” Harrison said, thanking Kotlikoff for his “truly extraordinary leadership.”
In his own remarks at the Oct. 24 event, Kotlikoff reflected on his lengthy career at Cornell and the opportunities and challenges that lie ahead.
“It’s a different thing to be inaugurated as president of the university where you’ve spent most of your career — when you’ve been asked to help shape the future of an institution that is already your home, and to which you owe a debt of gratitude impossible ever to repay,” he said. “Cornell has given me opportunities that I could not have conceived of when I started college 56 years ago — a directionless freshman on a scholarship. And I never know quite how to respond, when people say, ‘I don’t know if I should offer you congratulations on your new job, or condolences.’ ”
Kotlikoff continued, “The truth is, that I could not think of a more meaningful time to serve an institution that has given me so much. And I am endlessly grateful, both for the opportunity, and for your support.”

VIEWPOINT: Timing is Everything: Mapping Charitable-Giving Plans Under New Tax Law
It’s never been easy to navigate the ever-shifting tax rules around charitable giving, and now it’s even trickier. Major changes under the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, are creating complexity, opportunity, and, for some, urgency. The OBBBA reshapes both how much you can deduct for charitable contributions
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It’s never been easy to navigate the ever-shifting tax rules around charitable giving, and now it’s even trickier. Major changes under the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, are creating complexity, opportunity, and, for some, urgency. The OBBBA reshapes both how much you can deduct for charitable contributions and who can benefit from these deductions in the first place.
Whether you are working with clients as a professional advisor, or planning your own year-end giving, these rules are worth understanding. At the Community Foundation, we often serve as a sounding board when charitable giving comes up. We have tools that can help, and if we can’t help directly, we’ll point you in the right direction.
Here are three key changes to keep in mind as 2025 winds down.
The OBBBA expands the standard deduction to $15,750 for single filers and $31,500 for married couples in 2025, with even higher levels for taxpayers aged 65 and older. This will make it harder for many households to itemize deductions. A strategy known as “bunching” charitable donations can help. For example, instead of giving $12,000 each year, a donor could contribute $36,000 (three years’ worth of gifts) to a donor-advised fund in 2025. This pushes total deductions high enough to itemize for one year, while future gifts can be distributed to charities from the fund while taking the standard deduction.
Beginning in 2026, only charitable donations exceeding 0.5 percent of adjusted gross income will be deductible. That means a couple with $225,000 in adjusted gross income (AGI) would see their deductible charitable amount reduced by $1,125 annually. In addition, the maximum tax benefit from charitable deductions for high-income taxpayers will be calculated at a 35 percent rate instead of 37 percent. For many households, 2025 will be a pivotal year to consider accelerating charitable gifts using bunching strategies to maximize current tax strategies before these tighter rules take effect.
Also starting in 2026, taxpayers who take the standard deduction will be able to claim up to $1,000 (single filers) or $2,000 (married filing jointly) in direct charitable deductions. This is good news for the roughly 100 million Americans who don’t itemize. But note the fine print: this deduction only applies to cash gifts made directly to charities — it excludes gifts of stock or contributions to donor-advised funds, which are tax-effective and convenient charitable-giving vehicles.
The bottom line is that 2025 is shaping up to be a pivotal year for charitable-giving decisions. Nonprofits across our community are in urgent need of donor support, and beyond the tax implications, philanthropy addresses critical local needs that transcend any deduction. Whether you’re advising clients or planning your own giving, now is the time to consider how to maximize both the tax benefits and the community impact of your charitable contributions.
Pragya Murphy serves as director of development & impact investing at the Central New York Community Foundation, where she leads charitable planning for individuals, families, and companies and provides outreach to the local professional advisor community and nonprofit organizations. She also supports the Community Foundation’s impact investment program and is available to nonprofits interested in learning more about or applying for impact investments.

VIEWPOINT: Strategy Without a Soul: When Marketing Leads Without Brand Strategy
You’re launching campaigns, hitting deadlines, and filling the pipeline. On paper, things look great. But something’s off. Internal-messaging debates keep resurfacing. Campaigns feel shallow and reactive instead of resonant and on-point. Ask people what the brand stands for, and you get different answers from each. These are classic signs your marketing is outpacing your brand
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You’re launching campaigns, hitting deadlines, and filling the pipeline. On paper, things look great. But something’s off. Internal-messaging debates keep resurfacing. Campaigns feel shallow and reactive instead of resonant and on-point. Ask people what the brand stands for, and you get different answers from each.
These are classic signs your marketing is outpacing your brand strategy. The body is in motion, but the soul is missing. Without a clear brand soul, marketing actions lose direction and authenticity; without active marketing, even a strong soul never makes an impact. Brand is the why and the identity. Marketing is the how and the action. When they fall out of sync, trouble follows.
Too often, brand strategy gets mistaken for a logo, a color palette, or a mood board. In reality, it’s the organization’s inner compass (purpose, values, identity, and promise) guiding every decision over the long term.
It answers the big questions: Who are we? What do we believe in? How are we different, and why should anyone care? Brand strategy is the North Star, aligning the organization around a meaningful identity that resonates with customers, informs product decisions, and shapes culture.
Brand strategy is a long-term discipline. Strong brands reinforce the same core narrative and values over years, building equity: trust, loyalty, and a price premium. Inconsistent brands have to work harder and spend more to be heard. It’s not mere theory: studies show brands with consistent messaging earn more, seeing a 10 percent to 20 percent revenue boost compared to fragmented brands, and that brand-aligned companies are two times more profitable as inconsistent ones.
If brand is the soul, marketing is the body in motion — the campaigns, channels, and content that bring the brand to life. Marketing is how you reach people, drive action, and achieve near-term objectives.
When marketing is aligned with a strong brand foundation, it acts as a powerful amplifier, reinforcing identity and values across every channel. Without that foundation, marketing risks becoming movement without purpose. Teams chase trends, fragment messaging, and change their story to grab quick attention. Short-term wins can mask long-term erosion of trust.
A marketing plan without brand strategy is like a GPS without a destination: lots of directions, no clear end point.
Not every downturn in campaign performance or internal struggle is due to tactics or budget. Often, the root cause lies upstream in the brand clarity and cohesion. How can you tell if you have a brand-strategy problem, instead of a marketing problem? Look for these red flags:
• Inconsistent positioning and messaging. Your value proposition shifts from campaign to campaign. Different teams or partners describe the brand differently. Customers can’t tell what you stand for, and their trust erodes.
• Internal misalignment. Ask five employees to describe your brand promise. If you get more than two or three different answers, your brand isn’t clear internally. And if your own team isn’t sure how to describe your voice or promise, it’s a sign of a soul-and-action gap.
• Reactive, disconnected campaigns. Without brand guardrails, campaigns chase the moment instead of reinforcing the mission. Clever ideas might land in isolation but fail to build a coherent brand story. In higher education, for example, 61 percent of institutions report inconsistent marketing efforts leading to off-brand campaigns. The result is often competing funnels rather than one cohesive strategy.
Brand equity is the cumulative value of how people think and feel about you — trust, reputation, loyalty, and differentiation. Strong brand equity makes customers less price-sensitive, more loyal, and more open to new offerings. It reduces acquisition costs and increases lifetime value.
When brand clarity is missing, these advantages fade. Inconsistent brands have to spend about 1.75 times more on advertising to achieve the same growth as consistent ones.
Conversely, investing in brand is investing in resilience. Each aligned marketing action builds on the last, strengthening recognition and trust. Notably, an analysis by System1 of 56 brands found that those with consistent branding grew market share faster and were twice as profitable as those constantly switching their messaging. Decisions get easier because teams have a shared filter: Does this fit our brand? The result: sharper execution, faster consensus, and a more confident presence in the market.
• Patagonia has built decades of loyalty on a mission to “Build the best product, cause no unnecessary harm, and use business to inspire and implement solutions to the environmental crisis.” Every employee can articulate it. Every campaign reflects it.
• Cleveland Clinic lives its “Patients First” promise across the entire patient experience. That clarity shows up in consistent, patient-centered marketing and one of the strongest reputations in health care.
• USAA is a financial-services firm that serves military families with a brand rooted in service and loyalty. Every employee (whether in insurance, banking, or IT) is inculcated with the mission of “We know what it means to serve” and putting members first. In fact, many employees are veterans, bringing true authenticity to every interaction. Their marketing is essentially word-of-mouth from members whose experiences match the promise.
1. Revisit your brand foundation. Document your identity, purpose, positioning, values, personality, voice, and promise. Make sure it’s still true, relevant, and bold enough to matter. Socialize it internally so everyone can articulate it.
2. Audit marketing through a brand lens. Map your campaigns to brand pillars. Cut or adjust what doesn’t fit. Align media spend with your core story.
3. Make brand checkpoints routine. Bake brand reviews into campaign planning and creative briefs. Keep guidelines updated and accessible.
Your marketing team can be creative, data-driven, and fast. But without a clear, differentiated brand soul as the foundation, you’re building on sand. Brands that live their purpose consistently earn trust, loyalty, and profitability. Marketing that runs ahead of brand eventually burns out, wastes budget, and muddles identity.
Before your next campaign, ask: Do we know who we are? Does everyone here know it? Is our marketing expressing it? If the answer is no or unsure, slow down and realign. When brand and marketing move together, the inside matches the outside, and your message rings true. That’s the kind of alignment customers notice — and stick with.
JoAnne Gritter is the chief operations officer at ddm marketing + communications, a B2B digital-marketing agency for highly complex and highly regulated industries. She is responsible for overseeing and facilitating collaboration between all major functional areas at ddm, including finance, human resources, IT, operations, sales, and marketing.

Ask Rusty: Should I Take Social Security Now, or at age 70?
Dear Rusty: I was born in April 1958, and my plan has been to take my Social Security (SS) at age 70. However, my sister-in-law says that it is smarter to take it now while I am still working. I will be 70 in 2.5 years. Her husband collects his SS and has kept working.
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Dear Rusty: I was born in April 1958, and my plan has been to take my Social Security (SS) at age 70. However, my sister-in-law says that it is smarter to take it now while I am still working. I will be 70 in 2.5 years. Her husband collects his SS and has kept working. She believes their strategy will net more money than mine due to the fact he has continued to pay into the system, and she believes it has super boosted his monthly benefit. What say you? BTW, Lord willing and the creek don’t rise, I plan on living at least till age 87.?
Signed: Questioning My Plan
Dear Questioning: You have already reached your SS full retirement age (FRA), so you can earn as much as possible without your SS benefit being negatively affected by Social Security’s Annual Earnings Test. In fact, if your current earnings are among the highest over your lifetime, your SS benefit amount will continue to increase because of your higher current earnings. You are now also earning Delayed Retirement Credits (DRCs), which will improve your monthly amount by 0.67 percent for each month (8 percent for each full year) you delay. That means that if you wait and claim at age 70, you will receive about 127 percent of what you would have gotten had you claimed at your FRA of 66 years and 8 months (plus you’ll also receive all cost-of-living adjustment, or COLA, increases that occur between now and then). So your life expectancy is key.
It usually takes about 12 years to breakeven moneywise by claiming at age 70 versus at FRA. In other words, if you claim at 70 instead of FRA, you will have received the same amount of SS money after you are age 82. Thus, if your life expectancy is greater than 82, you’ll receive more in cumulative lifetime benefits by waiting until 70 to claim. Of course, no one really knows how long they will live, so it is a judgement you need to make. “Average” life expectancy for a man your current age is about age 84, but if you’d like to get a more personalized longevity estimate you can use this tool we use here at the AMAC Foundation: https://socialsecurityreport.org/tools/life-expectancy-calculator/
Another thing to keep in mind is whether your wife will receive a widow’s benefit if you die first. A widow will get the higher of either her own SS retirement benefit, or the husband’s benefit amount when he died. So, if you claim at age 70, your surviving spouse will benefit (if her own SS is smaller) because you waited until 70 for your higher SS amount. Just something else to keep in mind.
Yet another is whether your wife will be entitled to a higher benefit as your spouse while you are both living. (FYI, a spouse will get a “spousal boost” if her own SS retirement benefit at FRA is less than 50 percent of her spouse’s FRA entitlement). If so, your wife cannot claim her spousal benefit until you take your own SS retirement benefit. If your wife will be entitled to more as your spouse while you are both living, then delaying until age 70 means your wife cannot collect her higher spousal amount until you claim. Depending on your financial needs as a couple, that may affect your decision as well.
When to claim is always a judgement call, which should consider your life expectancy, your financial needs, and your marital status. If you don’t need the SS money now (while you are working) and believe you will, indeed, live “at least till 87,” then waiting would likely be your best long-term decision. If you have doubts about your life expectancy, and/or if your wife will substantially benefit from a “spousal boost” if you claim earlier, then claiming now would also be a wise choice.
Finally, it’s also important to understand that your SS benefits may be taxable by the IRS and, if you are still working, your IRS tax rate will likely be higher now than it would be after you retire from working. (Note: The so-called “One Big Beautiful Bill Act” provides only temporary tax relief (thru 2028) on SS benefits — the IRS will still tax SS benefits, but also allow a separate tax deduction to offset those SS taxes you pay).
Russell Gloor is a national Social Security advisor at the AMAC Foundation, the nonprofit arm of the Association of Mature American Citizens (AMAC). The 2.4-million-member AMAC says it is a senior advocacy organization. Send your questions to: ssadvisor@amacfoundation.org.
Author’s note: This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained, and accredited by the National Social Security Association (NSSA). The NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration (SSA) or any other governmental entity.

VIEWPOINT: From Startup to Long-Term Success: How SBA Loans Can Help Businesses Grow
The journey to becoming a small-business owner is challenging yet rewarding. Each stage of this endeavor has opportunities and obstacles — from planning and development to launch and expansion. Fortunately, there are valuable resources available to support and empower entrepreneurs along the way. When you’re ready to scale your business, a loan with support from
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The journey to becoming a small-business owner is challenging yet rewarding. Each stage of this endeavor has opportunities and obstacles — from planning and development to launch and expansion. Fortunately, there are valuable resources available to support and empower entrepreneurs along the way.
When you’re ready to scale your business, a loan with support from the U.S. Small Business Administration (SBA) could be the key to unlocking your next phase of growth.
At times, a bank wants to approve a loan that falls outside traditional credit requirements. For instance, a founder looking to buy a business may lack the necessary collateral to secure funding. This is where the SBA and its loan programs come into play. SBA loans can be used to finance a waste management company whose only available collateral is garbage bins, or a tech company where employees work from home and their assets are not physical.
SBA loans, backed by the federal government, provide financing options for various business needs, including acquiring a company, expanding operations or launching a startup. Since these loans are supported by an agency specifically focused on helping entrepreneurs and small businesses, they offer significant advantages for borrowers and lenders compared to traditional business loans.
If you have dedicated your time and money to building your business, registered it as a legal, for-profit entity, and are operating within the United States or in a U.S. territory, you’re likely eligible for an SBA loan.
SBA loans’ eligibility requirements and terms and conditions are broader and more favorable than traditional loans because this funding is backed by the federal government and often include an SBA loan guarantee. This guarantee reduces the risk for lenders, allowing financial institutions to offer longer repayment terms — an advantage that makes these loans especially appealing to small-business owners.
For small-business owners, this translates to lower monthly payments, more manageable debt, and extra cash flow to reinvest in your business. The flexibility of SBA loans can be a game-changer, helping you navigate the early stages of your venture, sustain growth and maintain financial stability — especially during periods of expansion or economic uncertainty.
Beyond immediate funding, SBA loans can also lead to future financing opportunities. The security of an SBA guarantee means that even those with limited credit history or collateral can access capital. Successfully obtaining and repaying an SBA loan can also help to build your credit profile, improve your financial standing and make it easier to secure additional funding.
In addition to financial support, SBA loans come with access to valuable resources designed to help entrepreneurs succeed. From career counseling and training programs to marketing strategies and operational guidance, organizations like the Small Business Development Centers (SBDC), SCORE, and local chambers of commerce offer expert assistance. If you’re unsure whether an SBA loan is the right fit for you, these resources can provide guidance and even assist with the application process.
From $500 to $5 million, borrowers can acquire funding for various expenses — whether it be a small or large need. Most community banks offer the following types of SBA loans:
• 7(a) Loans: SBA 7(a) Loans are the most common SBA loans and provide up to $5 million for working-capital expenses. This loan is a flexible-financing solution for business owners looking to grow their businesses, purchase new equipment, invest in real estate, or cover payroll expenses.
• SBA Express Loans: SBA Express Loans offer up to $500,000 and have an expedited review process for quicker access to funds — these loans are typically approved within 36 hours.
• 504 Loans: SBA 504 Loans support small-business expansions and modernization through long-term fixed-rate financing, providing up to $5.5 million in funding. These loans can be used for constructing or purchasing buildings, land, or large equipment or machinery.
From starting your career to growing your startup or expanding your business, SBA loans provide the right mix of flexibility and support to help you achieve your goals.
Paula Valencia is assistant VP and SBA lending manager at Tompkins Community Bank, Central New York.
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