IRAs

Individual Retirement Accounts

Traditional IRAs

  • The contribution deadline is the tax-filing deadline for the tax year
  • Any individual younger than 70 ½ years of age who has compensation is eligible to make a contribution
  • Contributions may be eligible for a tax deduction

ROTH IRAs

  • 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 70 ½.

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.