Insider February 2015 Calendar of Events FreedomYears There are multiple ways for you to stay connected to your bank accounts with a quick click! Our electronic banking options put you in control and make life easier. Use Online Banking, Bill Pay, Mobile Banking, Text Banking, and our app to make banking even easier for you! Many of our customers enjoy using Online Banking or Bill Pay to manage their money, view transactions, pay bills, and more. You can access online banking on a tablet, smartphone or computer, and it’s very user-friendly! For a demo, go to ParkNationalBank.com and click on ‘Learning Center’ – it’s in the box directly under the logo – scroll down to Online Banking and click ‘view.’ If you have an Apple or Android smartphone, you can download our banking app. It’s the ultimate connection to your money – and it’s free! • View account balances and information on any account you currently view in online banking. See recent transaction history on your checking and savings accounts, loans and lines of credit. • Transfer money between accounts. • Schedule, change or cancel payments on the go. • Use PopMoney to send cash to anyone on your contact list. • Use the device’s camera to take a picture and deposit checks into your PNB checking or savings account. • Find the Park National Family of Banks office or ATM closest to you with a few quick clicks. Mobile alerts are great options to keep you alerted when something happens in your account. You pick the reason you get notified, like when a balance gets a below a certain amount, when a deposit is made, and more. You can choose to be alerted through a text message or email. If you have questions, we’re happy to help you get connected with a banker! Scams and Consumer Protection Saturday, February 21 • 9:30 - 10:30 am Century National Bank Brandywine Office - Zanesville Do you know how to recognize a scam? Join us as our security experts speak about consumer fraud. You’ll learn how to spot fraud and beat scammers at their own game. Common scams we will learn more about today: grandparent scams, fake check scams, identity theft, phishing and more. We hope you and your guests will join us for this complimentary informative seminar! ONCE The Musical The Palace Theatre - Columbus Wednesday, June 10 $69 per person 7:30 pm performance Join us for this evening performance of ONCE at the Palace Theatre in Downtown Columbus. We will stop for dinner (on your own) at Easton Town Center before arriving at the theatre. Winner of eight 2012 Tony Awards including best musical, ONCE is a truly original Broadway experience. Featuring an impressive ensemble of actor/musicians who play their own instruments onstage, ONCE tells the enchanting tale of a Dublin street musician who's about to give up on his dream when a beautiful young woman takes a sudden interest in his haunting love songs. As the chemistry between them grows, his music soars to powerful new heights... but their unlikely connection turns out to be deeper and more complex than your everyday romance. Emotionally captivating and theatrically breathtaking, ONCE draws you in from the very first note and never lets go. It's an unforgettable story about going for your dreams... not living in fear... and the power of music to connect all of us. Price includes: deluxe motor coach transportation; orchestra seats (CC-GG); all applicable taxes, and gratuities on included items. Final payment due: 4/13 Call or email us! 740.455.7283 • [email protected] A Lost Tradition Revived Shen Yun’s Classical Chinese Dance Ohio Theatre - Columbus Wednesday, March 11 7:30 pm performance • $106 per person Join us for this evening performance of 5,000 Years of Civilization at the Ohio Theatre in Downtown Columbus. We will stop for dinner (on your own) at Easton Town Center before arriving at the theatre. Through the universal language of music and dance, Shen Yun weaves a wondrous tapestry of heavenly realms, ancient legends, and modern heroic tales, taking you on a journey through 5,000 years of Chinese culture. Its stunning beauty and tremendous energy leave audiences uplifted and inspired. A Shen Yun performance features the world’s foremost classically trained dancers, a unique orchestra blending East and West, and dazzling animated backdrops—together creating one spectacular performance. Price includes: Deluxe motor coach transportation; orchestra seats (Q-W); all applicable taxes, and gratuities on included items. Final payment due with reservations. Euchre Party & Luncheon St. Thomas Activity Center Saturday, March 14 • 10:30 am - 1 pm $7 per person Join us for a fun-filled day of progressive euchre! Whether you’re a beginner or a seasoned player you are sure to have a great morning. We’ll take a break midway through and enjoy a lunch of sandwiches, sides, dessert, soft drinks, and coffee. After our break we’ll finish out the rest of our card playing. We hope you and your friends will join us for this event! Reservations & final payment due: 2/23 Spring Mystery Tour Somewhere, Ohio • Wednesday, April 15 • $84 per person Join us for our mystery day trip that may or may not involve a guided tour of breakables, lunch in a historical area, a tour filled with incredible engineering and historical praise, and quite possibly a chance to stroll through a place that has everything. Final payment due: 3/9 Purses, Patterns, and Totes…OH MY!! Fort Wayne, Indiana • April 8 - 9 If you’ve never experienced this one-of-a-kind event, this is your chance to get-a-way on a tour designed for ladies that just want to have fun! Vacation highlights: • Round-trip deluxe motor coach transportation • 1-night accommodations in Fort Wayne, Indiana with breakfast • Shopping at either Jefferson Pointe Mall or Glenbrook Square in Fort Wayne • Timed group entrance for Vera Bradley Outlet Sale: includes special VIP group entrance, check out, and waiting area • Dinner at a local restaurant Price per person: A deposit of $50 per person and the optional insurance premium are due with reservations. $310 double occupancy Meet Me in St. Louis April 14 -17 Vacation highlights: • Accommodations in downtown St. Louis and Hannibal • Dinner at Favazza’s, Kemoll’s, and Drake’s Steak & Ale Restaurants • Lunch aboard the Mark Twain Riverboat, with a special guest • Guided tour of St. Louis, including the Cathedral Basilica, Anheuser-Bush Brewery & Clydesdale Stables • Tours of the Gateway Arch, Mark Twain Museum and the Rockcliffe Mansion Price per person: A deposit of $300 per person and the optional insurance premium are due with reservation. $799 double occupancy, $969 single occupancy Final payment due with reservations Las Vegas Get-a-way.... April 20 - 23 Vacation highlights: Round-trip airfare from Columbus, 3-nights accommodations at Harrah’s Resort & Casino, transfers to/from our hotel in Las Vegas, 3 buffet breakfasts, 1 dinner buffet at Harrah’s Valley of Fire Tour with guide and boxed lunch, free time to explore Vegas at your leisure, discount coupon booklet. Price per person: $993 double occupancy, $1,179 single occupancy Final payment due with reservation. | \- Northern California Featuring… Sacramento, San Francisco, Trains & Gold Country! April 23 - 30 Vacation highlights: • Round-trip airfare • 7 nights at Embassy Suites Sacramento Riverfront Promenade • Breakfast daily, 3 dinners • 3 lunches including gourmet luncheon on Napa Valley Wine Train • Sacramento “River City” tour including California State Capitol Building & Casa Gardens • San Francisco city tour • Visit to California State Railroad Museum in Old Sacramento • Tour to Angel Island • Tour to Gold Discovery Sites in Colomo and Placerville • Visit to Napa Valley with tasting at Merryvale Winery in St. Helena • Tour to Lake Tahoe including a ride on the California Zephyr Train Price per person: A deposit of $300 per person and the optional insurance premium are due with reservations. $2,999 double occupancy, $3,799 single occupancy Call for a detailed brochure! Final payment due: 2/2 Niagara Falls & Niagara on the Lake June 12 - 15 • Featuring the Canadian side of the Falls Vacation highlights: • Deluxe motor coach transportation • 3-night accommodations at the Embassy Suites with “Falls” view room • 3 full breakfasts and 2 dinners • Guided tour of Niagara Falls including scenic Niagara River Parkway with views of the Horsehoe Falls, American Falls, Whirlpool Rapids, Power Dams, Floral Clock, Queenston Heights, Brock’s Monument, and the Welland Canal • Guided tour through beautiful countryside to Niagaraon-the-Lake, often called the loveliest town in Ontario • Hornblower Cruise (formerly Maid of the Mist) Price per person: A deposit of $300 per person and optional insurance premium are due with reservations. $799 double occupancy, $999 single occupancy **A valid passport is required for travel** Call for a detailed brochure. Final payment due: 4/1 Alaska & Yukon by Land & Sea Holland America • July 7 - 19 Vacation highlights: • Airfare from Columbus to Anchorage and from Vancouver to Columbus • 7-night land tour in Alaska and Yukon with hotel accommodations in Anchorage, Denali, Fairbanks, Dawson City, and Whitehorse • Rail transportation onboard McKinley Explorer domed rail cars • Tundra Wilderness tour in Denali National Park (6 - 8 hours) • Visit to Gold Dredge 8 in Fairbanks • Flight from Fairbanks to Dawson City (2 hours) • Yukon River Paddlewheel Cruise onboard the Klondike Spirit • White Pass and Yukon Route Railroad from Fraser, BC to Skagway (1¾ hours) • 4 nights onboard Holland America’s Noordam • Port stop in Ketchikan and cruising in Glacier Bay and Inside Passage • 1-night stay in Vancouver, British Columbia • Sightseeing tour of Vancouver • Holland America meal plan for land portion of tour Price per person: Ranging from $5,399 to $6,295 depending on your stateroom selection. A deposit of $1,000 per person and the optional insurance premium are due with reservation. **A valid passport is required for travel** Call for detailed brochure! Final payment due: 4/2 Experience Shipshewana! Shipshewana, Indiana • August 4 - 6 Vacation highlights: • Round-trip deluxe motor coach transportation • 2-nights accommodations at the Van Buren Hotel • Full breakfast daily, 1 lunch, 2 dinners • Visits to: Das Essen Haus & Village, Midwest’s Largest Outdoor Flea Market, Cultural Interpretive Center, Mennhoff Museum (history of the Amish), Amish Carriage Maker/Amish Chime Making Shop, The Amish Bakery/ Amish Quilt Shop/Bulk Food Store, and Hostetler’s Hudson Auto Museum • Blue Gate Dinner Theatre, Josiah for President – The Musical • Shopping time at The Mercantile, Harrison & Morton Streets • All luggage handling • All applicable taxes and gratuities on included items Price per person: A deposit of $100 per person due with reservations. $489 double occupancy, $470 triple occupancy, $759 single occupancy 2015 Trip/Event Cancellation Policy: The cancellation of Freedom Years one-day trips or events will be nonrefundable after payment is made unless the space is filled from an available wait list or a substitution is made by another member. Trips may be paid for by cash, check, or VISA. Checks should be made payable to Park National Bank - Freedom Years. Refund policies on extended vacations vary from trip to trip. Please review the cancellation policy included on each trip brochure. Travel/Health Policy: It is required that persons needing assistance be accompanied by a companion who is capable and totally responsible for providing that assistance. Neither Freedom Years nor its suppliers may assist with medications, wheelchairs, or physically lift persons onto transportation vehicles. Travelers needing special assistance must notify Freedom Years when they make their reservations. Please note that the Americans With Disabilities Act does not apply outside the United States. EQUAL HOUSING LENDER Member FDIC At-a-glance Day Trips... FEBRUARY 21 Consumer Protection Seminar CNB Brandywine Office, Zanesville Details enclosed! APRIL 15 Spring Mystery Tour Somewhere, OH Ne w! Details enclosed! MARCH 4 MAMMA MIA Palace Theatre, Columbus Waitlist! APRIL 29 Sister Act ,The Musical Palace Theatre, Columbus Waitlist! MARCH 11 A Lost Tradition Revived Ohio Theatre, Columbus Details enclosed! JUNE 10 New! ONCE Palace Theatre, Columbus Details enclosed! On Safari with Freedom Years October 28 - November 9 Space limited! MARCH 14 Euchre Party & Luncheon Details enclosed! MARCH 26 South Pacific LaComedia Dinner Theatre Waitlist! Extended Vacations & Get-A-Ways... APRIL 8 - 9 Purses, Patterns & Totes …OH MY! Fort Wayne, Indiana Details enclosed! APRIL 14 - 17 Meet Me in St. Louis Details enclosed! APRIL 20 - 23 Las Vegas Escape Details enclosed! APRIL 23 - 30 Northern California Sacramento, San Francisco Details enclosed! MAY 5 - 11 Lighthouses of the Mid-Atlantic Ocean City, Baltimore & Virginia Beach Call for a detailed brochure! MAY 16 - 24 A Scottish Dream Edinburgh, Glasgow, Loch Lomond & More! Waitlist! JUNE 12 -15 Niagara Falls Details enclosed! An optional 2 night extension to Camp Xakanaxa available Per person prices: A deposit of $1,000 per person and the optional insurance premium are due with reservation.$7,995 double occupancy, $9,995 single occupancy JULY 7 -19 Alaska Yukon by Land & Sea Onboard Holland America’s Noordam Waitlist! Call for a detailed brochure! Final payment due: 7/20 JULY 14 - 26 Alaska Yukon by Land & Sea All categories available New AUGUST 4 - 6 Shipshewana New! Details enclosed! A once in a lifetime experience awaits us in South Africa, Zambia, and Botswana. This tour combines the best of everything from a school visit with children, a village stop in Zambia, and unbelievable views of nature at its best up close. ! AUGUST 8 - 16 American Empress Riverboat Cruise Call for availability! OCTOBER 28 NOVEMBER 9 A Southern Africa Safari! South Africa, Zambia & Botswana Call for availability! Make reservations today! 740.455.7283 | [email protected] Trust & Investment Services 14 South Fifth Street Zanesville, Ohio 43701 CenturyNationalBank.com Phone: 740.455.7324 INGLE RETIREES RETIREES INGLE FINANCIAL FINANCIAL MANAGEMENT MANAGEMENT FOR FOR SIN SIN A good year A review and outlook for the financial markets and the economy. January 2 — The economic recovery in the U.S., now in its sixth year, produced much good news in 2014: • The S&P 500 rose 11.4%, and the Dow Jones Industrial Average posted a 7.5% gain on the year, following the stellar performance of stocks in 2013. • The six months of economic growth that included the 5% spurt in the third quarter were best half-year period since 2003. • 2.7 million jobs were added through November, the best year for employment growth since 1999. • Oil prices declined sharply in 2014, bringing major relief at the gas pump to U.S. consumers. All signs point to lower oil prices for the intermediate future. But the picture is not entirely rosy, it never is. While the U.S. is doing well, Europe and Japan are not. Countries using the Euro have not yet surpassed their pre-recession economic output, as the U.S. has. The Dow Jones World Index, which excludes the U.S., fell 5.5% in 2014. Robust, stable economic growth requires strong economic partners. CAPE fears Higher stock prices are powered by two factors: increased profits and increased investor optimism. Optimism is generally measured by the price/earnings ratio. A high ratio means that investors are willing to pay a high price for future profits, and it suggests that they expect those profits to grow. Nobel Laureate Robert Shiller has traced a cyclically adjusted price earnings (CAPE) ratio from 1871 to the present. His CAPE ratio includes an inflation adjustment and a ten-year time frame for smoothing annual variability. For the 20th century, the average CAPE ratio was 15.21. At this writing the CAPE ratio stands at 27.34. Speaking historically, that number is in the stratosphere. That’s where it was in 2007, just before the financial meltdown. In 1929, before the Black Friday crash, it stood 32.56. Before the dot-com bubble burst, CAPE reached 43.83. A high CAPE ratio for the stock market is not necessarily a sell signal, even though it may be suggestive of “irrational exuberance.” High stock prices may also be a reflection of the absence of satisfactory alternatives for investing. However, once the CAPE has reached high levels, future increases in stock prices will have to be fueled primarily by increased profits, not improved investor sentiment. Housing Another cloud on the horizon is the housing market. New home sales in November were 1.6% below the year-earlier figure, and existing home sales fell 6.1%. Home price growth has slowed, following the recovery of the recession lows. Historically, the success of the housing industry has closely tracked the ups and downs of the economy generally. An uptick in interest rates in 2015 would not be helpful to home buyers or sellers. Continued on reverse... Page 1 of 2 Serving families, businesses & our communities for generations! Interest rates Throughout 2014 investors were concerned about what the Federal Reserve Board would do, and when they would do it. When interest rates go up, the value of existing bonds necessarily goes down, with the longest maturities hit the hardest. As it turned out, investors’ worst fears did not materialize. FINANCIAL MANAGEMENT FOR SI The story could be different in 2015, however. In December the Federal Open Market Committee reconfirmed its patience with below-normal interest rates so long as projected inflation remains below a target of 2% annually. Given the drop in oil prices rippling through the economy, that target is not likely to be breached in the near term. On the other hand, another quarter of 5% growth might stimulate the Fed to accelerate a plan of lifting interest rates back to normal levels. Additional comments from portfolio manager, Brad Zellar, Vice President and Trust Officer with Park National Bank's Trust and Investments: The Standard & Poor’s 500 Index is widely considered a good measure of the “broad” domestic stock market. As the article indicates, the Index rose 11.4% last year. Including dividends, the total return of the S&P 500 in 2014 was 13.7%. It marked the third consecutive year, and the fourth year of the last five, the Index had double-digit returns. The average annualized total rate of the return of the S&P 500 the last five years, through December 31, 2014, was 15.4%. It would be unrealistic, in our opinion, for investors to expect returns like these to continue when virtually every major global economy but ours is experiencing weakness. The article mentions Japan and Europe. China, too, is experiencing much slower growth than in its recent past. Even though exports account for less than 15% of economic output in our country, we are not immune from the effects of a global slowdown. At the risk of being too doom and gloom, which we are not, we recognize it has been more than three years since the last stock market “correction.” A correction is commonly defined as a decline of 10% or more in stock prices from a near-term high. Corrections are common – they occur about every 1 ½ - 2 years; and they are healthy – they provide patient, disciplined investors an opportunity to buy stocks at more attractive valuations. It brings to mind a quote from Warren Buffett, who reminds us that “markets are designed to transfer money from the active to the patient.” A message from….Jody Spencer Century National Bank , Trust & Investments I invite you to find out more about us and our investment management capabilities. If you have questions, or would like to schedule a time to meet, just give me a call! My direct line is 740.455.7252. I’ll look forward to hearing from you. Page 2 of 2 Not FDIC insured. Not bank guaranteed. May lose value. | Source: M.A. Co. © 2015 | All rights reserved. | February 2015 Serving families, businesses & our communities for generations!
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