Financial Planning and Retirement

More Than a Banking Transaction – How the Simpson Family Aspired to Leave a Legacy of “Doing Good”

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    • FNBO

      Wealth Management
      Oct 01 2018

More Than a Banking Transaction – How the Simpson Family Aspired to Leave a Legacy of “Doing Good”

Years ago, Jim and Kathy Simpson would walk through their neighborhood and look at big houses and think, “maybe someday that could be us.” As the years went by, living in one of the big houses became less important to the Simpsons, what became more important was making a positive impact in their community and for their family.

When the opportunity to buy out the founder of Jim’s IT business presented itself, the Simpsons knew that this would be a way to help them achieve their goals. “Jim and Kathy were taking a big chance, but they believed in their company and each other and it was gratifying to pull our teams together across Commercial Banking and Wealth Management to come up with a solution,” said Vice President of Wealth Management Steve Lindsay.

Fast forward to 2009 and another opportunity presented itself. Jim and Kathy were able to sell their ownership of the IT business and make their biggest dreams come true.

“When the Simpsons sold their company, it was a very emotional day,” said Senior Director of Wealth Management Terri Eischeid. “We knew it was more than just a banking transaction – this would help them reach some of their goals and aspirations.”

The transition from having loans with FNBO to having wealth allowed the Simpson family to purchase a lake property that had been in Jim’s family for years. “When we had little kids, that was the only place we went on vacation,” Kathy said. “Our kids grew up loving the lake. One of the things that we were able to do was purchase that property, and that was our first foray into something special that we could do.”

Even though the Simpsons were able to grow a business and later sell it for a profit, at the end of the day, what was most important to Jim and Kathy was making a difference in the community. "It's not necessarily about setting your kids up to have a really good lifestyle, it's how do you make your kids feel like you made a difference in the community," Jim said.

“You know, I don’t worry about Jim and Kathy’s legacy,” Kathy said. “I just want us to do good, and I think that’s what FNBO has enabled us to do.”

Leaving a legacy can mean something different to every family – and FNBO works closely with families, like the Simpsons, to help bring these legacies to life. Watch our video to learn more about what leaving a legacy can mean to your family.

This material does not constitute legal, tax, accounting or other professional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material.