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INDIVIDUAL RETIREMENT PLANS

Almost everyone can benefit from a First Bank retirement plan. Start enjoying the benefits of a retirement account and make your future more secure. Now, more than ever, a First Bank retirement plan can help you achieve your financial goals.

Features unique to Individual Retirement Plans (IRAs) include:

  • You can make contributions until April 15th of each year for the previous year’s tax period for a Roth or Traditional IRA
  • You may be eligible for a tax credit on your Traditional or Roth IRA
  • All earnings on your Traditional IRA contributions remain tax-deferred until you make withdrawals from the account
  • All earnings on your Roth IRA contributions remain tax-deferred (after a 5-year holding period) until you make withdrawals from the account and those distributions may be tax-free under certain conditions
  • Contributions to your Traditional IRA may be partially or fully deductible, depending on your income
  • Simplified Employee Pension (SEP) contributions are tax-deductible to the employer
  • Contributions to a Coverdell Education Savings Account (CESA) are independent of your Traditional IRA and/or Roth IRA contributions

First Bank Retirement Plans offer unique features such as:

  • Your interest rates are guaranteed for the term of the certificate
  • FDIC protection up to $250,000 in cumulative coverage for all of your retirement plan deposits
  • Annual statements make record keeping easy
  • Certificates offer automatic renewal at the end of each term for your convenience
  • If you want to change terms (e.g. change the term, revise the interest payment method or payment frequency) on a renewing First Bank CD, you may complete a Reinvestment Request. Simply bring your completed request into your nearest First Bank location or contact 1-800-760-BANK (2265).
  • Your interest compounds quarterly, increasing your earnings
  • Free access 24 hours a day, 7 days a week to account balance and interest payment information through Telephone Banking (1-800-760-2265) or Online Banking

Compare IRA plans

To find out more about our Individual Retirement Plans, call or visit the First Bank location nearest you.


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