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• The TRADITIONAL IRA allows you to defer taxes on earnings until they are withdrawn.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 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.