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IRA

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With an IRA from First National Bank, you get secure, completely-insured investment options with a manageable initial investment. Just select the IRA that fits your investment goals.

Traditional 

  • Earnings are tax deferred until withdrawal
  • Annual contributions of $5,500 ($6,500 if age 50 or older)
  • Contributions may be tax deductible*
  • Created for individuals who do not participate in employer-sponsored retirement plans
  • Certain individuals who do participate in employer-sponsored retirement plans may still qualify
  • Mandatory minimum distributions at age 70 and a half

*Contact your tax professional regarding deductibility 


Roth

  • Offers a tax structure unlike any other IRA, with after-tax contributions and tax-free growth*
  • Annual contributions of $5,500 ($6,500 if age 50 or older)
  • Withdraw money from your Roth IRA at any time without paying taxes up to the amount of your contributions**
  • Qualified withdrawals are not taxable
  • No mandatory minimum distributions at age 70 and a half

*Contact your tax professional regarding deductibility.  

**If you take distributions within the first five years you will receive a  10% penalty on the distribution amount.

Stop by one of our branches to open an IRA that fits your investment goals today.

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