More people lost a lot more money to fraud last year.
The Federal Trade Commission (FTC) says people who reported fraud to their agency lost a whopping $12.5 billion in 2024. That’s up $2.5 billion from the previous year.
One in three people who reported fraud in 2024 said they lost money, up from one in four the previous year.
Alarmingly, the biggest losses occurred through bank transfer or payment. These losses totaled $2 billion, followed by $1.4 billion in losses through cryptocurrency.
Cryptocurrency ATM scams are also a growing problem. Crooks are using these machines to steal funds from people in a way that can’t be traced. The funds can easily be sold or converted to the scammer’s account.
The Federal Trade Commission (FTC) says people who reported fraud to their agency lost a whopping $12.5 billion in 2024.
TIPS TO PROTECT YOURSELF
✔ Be wary of out-of-the-blue requests for money. Urgency and pressure tactics are a big red flag.
✔ Be skeptical of offers that seem too good to be true.
✔ Verify identities. Never send money without independently verifying the request with the legitimate agency or business.
✔ Monitor your bank account activity carefully. Report suspicious transactions immediately.
Victims are tricked into depositing cash into the cryptocurrency machines to address fake government issues or utility shutoffs. The thieves then vanish with the funds. A real business or government agency will never ask you to make payments in this way.
by TODD ADAMS chief executive officer
Similarly, no real business or government agency will ever tell you to purchase a gift card like an Apple or Google Play card and give out the card number and PIN in order to pay them.
If you are concerned that there is a problem with one of your bank or investment accounts, always use a phone number or website that you know to be legitimate. Using the contact information or link in the message you received will just take you back to the scammer.
The eye-opening increase in fraud is why we at the bank ask so many security-related questions, and why we devote so much attention to customer education.
Don’t hesitate to use our staff as a resource for your questions and concerns. If something seems fishy, it very likely is. The QR code at the foot of the page will link you to more fraud prevention resources on our website.
If you think something is a scam or fraud, please take time to make a report at www.reportfraud.ftc.gov. It helps the FTC in their efforts to stop scammers and hold them accountable.
SCAN THIS CODE to explore Adams Bank & Trust’s fraud detection education resources.
OUR EMPLOYEES RIDE FOR THE BRAND by STEVE
KRAUSE president
Anyone in an organization can be a leader, no matter their job title. Leadership is a reflection of attitude and work ethic. It stems from how a person conducts himself or herself. Each spring, we honor the winners of our annual Employee Awards, shown on page 3 of this issue.
These individuals were nominated by their peers for consistently working for the team. They ride for the brand.
These individuals were nominated by their peers for consistently working for the team. They ride for the brand.
Their teammates noticed that these honorees go the extra mile. They build relationships and they take pride in their roles.
It is only through our team members’ consistent dedication and effort that we are able to provide the best customer service.
It is only through our team members’ consistent dedication and effort that we are able to provide the best customer service.
Peer recognition is so valuable because no one succeeds on his or her own. You can be ready to lead a charge, but if you look back and no
one is there to back you up, you’re not going to achieve your goals.
This year’s winners came from a field of 59 nominations, and some recipients were nominated more than once. We appreciate everyone who took the time to submit a nomination.
As our customer, your feedback on our bank team is equally valuable. If you feel one of our employees has delivered outstanding service, please let us know so that we can pass along the compliment. Our Employee Award winners are willing to pitch in however needed to help customers and fellow employees. They uphold the culture and values of the bank every day. My hat is off to them.
As the bank continues to grow, we appreciate the talented employees we are able to have on our team. We want to recognize these employees who have recently celebrated milestone anniversaries.
Each quarter we will recognize employees by showing their years of service, photo, title/position, office location, and hire date.
5 YEARS
CASH
Cash in our vault, plus cash on demand from other banks where funds are deposited. $ 140,567,588
GOVERNMENT AND AGENCY BONDS
Marketable investments in bonds and other securities of the U.S. Government and its agencies. 339,803,270 FEDERAL FUNDS SOLD
Funds loaned to other banks for daily cash needs and payable on demand. 0 LOANS AND LEASES
Total of all money loaned to customers for all types of loans, such as agriculture, commercial and consumer. 840,905,243
BUILDINGS, FURNITURE AND FIXTURES
Book value (after depreciation) of buildings, computers, equipments, etc. 16,678,320
OTHER ASSETS
Interest on loans earned but not collected, expenses that have been prepaid, etc. 25,042,653
TOTAL ASSETS 1,362,997,074 DEPOSITS
Money on deposit by customers of the bank in the form of checking accounts, savings accounts, and certificates of deposit. 1,105,288,545
OTHER LIABILITIES
Borrowings by the bank, interest on deposits that has accrued, payable at a future date, other expenses accrued but not yet paid, deferred taxes, etc.
CAPITAL
67,438,850
Par value of the investment of the stockholders for the purchase of stock. 41,000,000
SURPLUS
Additional money contributed by stockholders to provide extra financial strength. 17,000,000
UNDIVIDED PROFITS AND RESERVES
Bank earnings left in the bank to provide added strength to meet possible future losses on loans and to replace buildings and equipment as they wear out. 132,269,679
TOTAL CAPITAL ACCOUNTS
Total capital available for the safe operation of Adams Bank & Trust.
190,269,679
TOTAL LIABILITIES AND CAPITAL ASSETS 1,362,997,074
RAYMOND JAMES FINANCIAL SERVICES, INC. MEMBER FINRA/SIPC
4 WAYS TO (ONCE AGAIN) WEATHER VOLATILITY
We’ve been here before. The stock market is again experiencing volatility. It’s occurred in the past, and at any point, it’s just a matter of time before volatility recurs. Knowing this in theory is one thing but experiencing it in real time is another. It can be difficult to remain calm when the market is experiencing violent swings. Immersed as we are in the 24/7 news cycle and social media, it’s easy to let emotions get entangled in whatever is going on in the world at the moment. But making decisions based on emotions can derail the plans you’ve made and threaten your long-term financial success.
What are some strategies to maintain equilibrium and navigate inevitable fluctuations?
by JACOB HOVENDICK rjfs branch manager
market turbulence occurs. Spreading investments across different asset classes, sectors, industries and geographies can reduce the impact of any single market downturn. If one investment underperforms, others may compensate and smooth out returns over time.
3. Remember that making an emotional decision to leave the market can be costly in the long run. The graphic below shows that opportunities can be missed when you’re trying to time the market by getting in and out. Historically, the market’s best days can closely follow its worst days.
Avoiding the market’s downs may mean missing out on the ups as well. Seventy-eight percent of the stock market’s best days have occurred during a bear market or during the first two months of a bull market. If you missed the market’s 10 best days over the past 30 years, your returns would have been cut in half. And missing the best 30 days would have reduced your returns by an astonishing 83%.
1. Refresh your memory on why and how you invest. When you’re making or reviewing investment choices, you should always be looking through the lens of risk. How much risk are you comfortable with? How would you feel if the market were to go down 40-60%?
Knowing how much risk you can tolerate in the first place allows you to feel calmer during volatile periods. But if you’re continually stretching towards returns or rewards, you’re going to feel every bump in the road in a much more emotional way.
There’s always a risk with investing. That’s why the chances of return and reward exist as well. This may be an opportunity to examine if you’re at an appropriate level of risk for your comfort zone.
2. Recall that your portfolio is diversified for a reason. Ideally, you and your advisor have built resilience into your investment strategy before
No one has a crystal ball that can predict the high and low points. Staying invested through periods of volatility can better position you to benefit from the market’s good days.
Adams Bank & Trust is not a registered broker/dealer, and is independent of Raymond James Financial Services. Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC, are not insured by bank insurance, the FDIC or other government agency, are not deposits or obligations of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal. Investment Advisory Services offered through Raymond James Financial Services Advisors, Inc.
Pullbacks | S&P 500 Intra-Year Declines
On any given year, the market has experienced some form of a pullback, with an average annual decline of ~14%, and four 5% or more pullbacks per year. However, 80% of the time since 1981 has the market ended up closing the year in positive territory.
4. Consider dollar-cost averaging to take advantage of the opportunities that can occur with market volatility. Investors may wonder if they should buy new investments or put more money into the market when pullbacks occur. Working with the overall number you’d like to get into the market, you and your advisor can work out a systematic approach to piece that out into incremental investments. Investing smaller amounts over time means the total exposure at any given moment is smaller.
Remaining calm is easier said than done. Periods of market volatility can bring up old emotional scars for investors who’ve been through significant downturns in the past. It may be helpful to recall how current conditions are different. The policy-driven volatility we’re experiencing in 2025 is very different from the 200809 crisis, which stemmed from cascading issues in real estate and the financial system. The 2020 correction occurred as a result of the global pandemic.
For the past two and a half years, we really haven’t experienced normal market volatility. The market trajectory was mostly upward, and we hadn’t seen significant disruptions. Volatility at some point was inevitable.
Staying calm, whether in investing or life, is always going to lead to better outcomes. As always, if you have concerns or want to discuss possible opportunities, reach out to your financial advisor.
Opinions expressed are those of the author and are subject to change. This information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. This information is not intended as a solicitation. The material is general in nature. Investing involves risk; investors may incur a profit or loss regardless of the strategy or strategies employed. There is no assurance that any investment strategy will ultimately meet its objectives. Past performance may not be indicative of future results. Asset allocation and diversification do not guarantee a profit nor protect against a loss. Working with a financial professional does not ensure a favorable outcome.
For assistance in reviewing or creating your investment plan, please call any Adams Bank & Trust office or call toll free at 800.422.3488 for an appointment with a Raymond James Investment Representative.
Jacob Hovendick , RJFS Financial Advisor and Branch Manager Khara Martinosky, RJFS Financial Advisor
