Peter Prickett Speaks Out

First National Bank - Fox Valley Peter Prickett FNB-FoxValley

First National Bank – Fox Valley President and CEO Peter Prickett

Please pardon Peter Prickett if he seems a bit tired this week. It sure seems like he’s everywhere!

We’ve been keeping Peter busy this past week with media appearances related to a host of issues, though the recent focus has been what the impending “Fiscal Cliff” negotiations could mean for all of us who work and live the Fox Valley.

There is a lot of uncertainty about what a resolution will look like, and Peter took on the task of explaining what the potential outcomes would mean in terms that could be easily understood.

“It will hurt Wisconsinites pocketbooks, and from my perspective as a banker, I think it’s going to have some trickle down effects,” Prickett said during an interview he gave to NBC 26.

Prickett says another big blow to the state are $1.2 trillion in cuts that would be split between domestic and military spending.

“I personally don’t think it will send us into a recession. I do think it will be some drag on the economy,” he said.

Peter also appeared Dec. 5 on FOX 11 as a group of governors met with President Obama. In that interview:

First National Bank – Fox Valley president Peter Prickett says he doesn’t believe the U.S. will fall into a recession as some economic pundits argue if a fiscal cliff deal isn’t done. But believes it can impact business growth if people are spending less to offset paying higher taxes.

“Most of my business customers are what’s called a ‘Sub S’ corporation,” said Prickett referring to the IRS business listing of companies who report business income and losses on their personal tax returns and are assessed at their individual income tax rates. “If they’re fairly successful, that’s going to be a big chunk out of what they’ll have to pay to the government, which is that much less to invest in new equipment or new employees.”

We think Peter did a great job this week. It’s always nice when your experience and expertise are recognized as valuable. If you missed them the first time, please check out the links to the stories. You can follow all of the latest FNB-Fox Valley news at www.fnbfoxvalley.com and our online newsroom.

More importantly, though, is that he was able to provide insights about what events happening in Washington really will mean to all of us, to our families and to our businesses.