| Investments
Whether you’re saving for your child’s education, your first
home, or a comfortable retirement, our professionals at First National
Bank can help you achieve those goals. Call or stop by and visit with
our investment specialists
today!
Certificates of Deposit
First National Bank offers a variety of interest bearing Certificates of Deposit
to meet your investment needs. You can invest at various maturities. Interest
can be compounded or deposited into your account at any financial
institution.
Retirement Accounts
You may want to consult a tax advisor regarding potential
benefits of establishing and contributing to retirement accounts
Traditional IRA
Interest is tax deferred as it accumulates and compounds, allowing your retirement
savings to grow much faster than traditional savings. If your contribution is
tax deductible, you receive two tax benefits: 1) immediate tax savings on your
earned income and 2) deferred tax on interest earned until the funds are distributed.
Generally, you may contribute up to $5,000.00 or $6,000.00 of earned income annually
to a traditional IRA until age 70 1/2.
Roth IRA
Contributions are made with after-tax dollars. The interest
earnings on the Roth
IRA aren’t presently taxed, and if certain distribution rules are met,
will never be taxed. You are not required to withdraw any distributions from
a Roth IRA while you are alive. Generally, you may contribute up to $5,000.00 or $6,000.00 of earned income annually to a Roth IRA even if you are 70 1/2 or
older. A Roth IRA is a great investment.
SEP IRA
A SEP is a retirement plan established by an employer. There are significant
tax advantages that will be realized by both the employer and the employee. Due
to the effects of compounding, the SEP funds can grow into a sizable nest egg
for retirement.
The FDIC also insures the interests in all your retirement accounts
at our institution up to a total of $250,000. This insurance coverage is provided
separately from any other non-retirement accounts you may have with us.
Education Savings Accounts
COVERDELL EDUCATION SAVINGS ACCOUNT
A Coverdell Education Savings account is set up on behalf of a designated beneficiary.
Contributions up to $2,000 per beneficiary per year can be made if he/she is
under the age of 18. Withdrawals, including interest earned, are not taxed if
used for qualified education expenses. Start saving for your child’s or
grandchild’s education, now!
Health Savings Account
A Health Savings Account is a Tax Advantage to Offset Health Care Expenses. HSA's are tax exempt custodial accounts established exclusively for the purpose of paying or reimbursing qualified medical expenses for you, your spouse and dependents, if you qualify.
- Eligibility Required
- Interest bearing checking
- $25.00 minimum to open account
- No minimum balance required
- No service charge fees
- Personalized Checks (available at regular cost)
- Debit Card (with annual fee)
- Internet access to account
- Check images included with statement
Stop in and see us for all the details.
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