Individual Retirement Accounts (IRAs)

Retirement should be a time to relax. Tax-advantaged savings in either a traditional or Roth IRA is an excellent way to ensure you're financially prepared. First National can help you transfer IRAs from another institution to take advantage of our rates.

Traditional IRA

• No annual administration fee
• Earnings are tax-deferred until withdrawal
• Contributions may be tax-deductible*
• Must be under age 70½ to open
• $500 deposit to open
• FDIC insured

• $5,000 contribution limit per year
• Additional $1,000 "catch-up" contribution allowed for ages 50+
• Withdrawals can begin at age 59½
• Mandatory withdrawals at age 70½
• Early withdrawals subject to penalty**

View our current rates.

*Consult with a tax advisor.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.

Roth IRA

• No annual administration fee
• Earnings are 100% tax free at withdrawal
• Contributions are not tax-deductible
• No age requirement to open; income must be less than $120,000 annually
• $500 deposit to open
• No mandatory distribution age
• FDIC insured

• $5,000 contribution limit per year
• Additional $1,000 "catch-up" contribution allowed for ages 50+
• Principal withdrawals can be withdrawn without penalty
• Interest withdrawals can begin at age 59½
• Early withdrawals of interest subject to penalty**

View our current rates.

*Income limit is $177,000 annually for married couples.

**Certain exceptions apply, such as healthcare, purchasing first home, etc.