iras

IRA's

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  • The TRADITIONAL IRA allows you to defer taxes on earnings until they are withdrawn.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 - Or visit the IRS website for information http://www.irs.gov/retirement/article/0,,id=226255,00.html 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.
* Brokerage Service Accounts are NOT FDIC Insured, NOT a bank deposit, NOT guaranteed by the bank, NOT insured by any federal government agency and may lose value.