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First National Bank offers several
investment vehicles to help you plan for your
future. An IRA is an excellent way of helping to
subsidize your retirement income and now offers
even more advantages to a larger number of people
based on higher income limitations.
We have
available to our customers the following types of
IRA's:
- The ROTH IRA is a
nondeductible account which features tax free
withdrawals for qualified distribution reasons
including but not limited to first time home
purchases (after a five year holding period).
-
The
TRADITIONAL IRA allows you to defer
taxes
on earnings until they are withdrawn.
Contributions may be fully tax deductible if you
are not
an
active participant of a qualified retirement
plan, otherwise the tax deduction is phased out
based
on
income levels.
-
The EDUCATION
IRA is a non-deductible account
that
features tax-free withdrawals for a child's
higher education or qualified elementary school
and
secondary
school expenses. The maximum contribution is
$2,000.00 per child per taxable year.
We encourage
you to talk to your financial advisor to consider
which type of IRA is best for you - THEN COME SEE
US!!
We offer a
flexible Statement Savings Account which allows
you to make regular weekly contributions to your
IRA. You may also choose to take advantage of our
Brokerage Service to invest your IRA in Stocks,
Bonds and Mutual Funds.
First National
Bank offers both fixed and variable rate IRA's. A
comprehensive IRA statement will be mailed
annually. Your First National Bank IRA Account is
insured separately by the FDIC up to $250,000.
 Click
Here to read about how your deposit money is
insured.
Home
Banker customers may access current interest
rates by phone 24 hours a day, 7 days a week.
For more
information about how you can open an Individual
Retirement Account, please contact the
office nearest you.
At this time we primarily serve the Sandusky,
Huron, Seneca, Ottawa and Erie County area.
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