Parents and child taking a selfie outdoors.

Individual Retirement Accounts (IRAs)

Traditional IRAs

  • The contribution deadline is the tax-filing deadline for the tax year
  • Any individual younger than 72 years of age who has compensation is eligible to make a contribution
  • Contributions may be eligible for a tax deduction


  • The contribution deadline is the tax-filling deadline for the tax year
  • There are no required distributions
  • Contributions are nondeductible, but earnings are tax free.
  • Contributions for ROTH IRAs made by an individual can still be made after the age of 72.

First State Bank’s IRA accounts are savings accounts with interest being compounded and credited quarterly.  To open an account you must deposit a minimum of $100 and if you close your account before interest is credited, you will not receive the accrued interest.

For more information on rates contact us at 402-757-3231.