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No matter your age, it’s never too early to start saving for retirement. Let The First State Bank’s IRAs help you with that! The sooner you start saving, and the more money you put into your IRA, the more your money will grow, allowing you to live the retirement you deserve.

Our IRAs offer a competitive interest and have no monthly fees, allowing you to maximize your savings to meet your retirement goals. There are no income limits to open an IRA and your contributions are tax deductible.*

When you invest in an IRA from The First State Bank, you’ll receive all the conveniences normally only found in a large bank combined with our one-on-one personalized customer service.

It’s east to open your IRA and start saving for your retirement. Contact us to get started!

Key Features

  • Competitive Interest
  • No Setup or Monthly Fees
  • Tax Advantages*
  • Tax-advantaged retirement savings*
  • Competitive interest above standard savings rates
  • No setup fees
  • No monthly or annual maintenance fees
  • Annual contribution limits apply (see current contribution limits; $6,000 as of 2019)
  • Additional $1,000 "catch-up" contribution allowed for ages 50+
  • Funds can be used to purchase CDs within IRA
  • No income limits to open
  • Contributions are tax deductible on state and federal income tax*
  • Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
  • Withdrawals can begin at age 59½
  • Early withdrawals subject to penalty**
  • Mandatory withdrawals at age 70½
  • $5,000 minimum opening deposit

What do you need to bring with you when you open your IRA?

  • Valid photo ID with you current address.
  • If your photo ID does not contain your current address, bring some other document which does contain it, such as a utility bill.
  • The minimum opening deposit amount...or more!

*Consult a tax advisor.

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

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