Individual Retirement Accounts

First National Bank offers investment strategies that will make saving for retirement simple. You have the option of investing in a traditional IRA or a Roth IRA Certificate of Deposit.

Traditional IRA

A traditional IRA is a tax-deferred personal retirement fund. Features include:

  • Annual contributions allowed in qualifying amounts
  • Earnings will grow tax deferred
  • May receive a tax deduction for contributions

Roth IRA

A Roth IRA is another investment option that allows you to effectively shelter money for retirement. Features of a Roth IRA include:

  • Up-front taxation of contributions; no future tax liability
  • No mandatory distribution age
  • Principal contributions may be withdrawn any time without penalty
  • "Qualified withdrawals" of earnings may be made with no tax or penalty incurred