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INDIVIDUAL RETIREMENT ACCOUNT (IRA): At First State Bank, we understand the importance of saving for your retirement. We offer both Traditional and Roth IRAs. Whether making a contribution, Rollover or Transfer, First State Bank offers a variety of investment terms and plans, including the IRA Savings Account,
all of which are designed to meet your needs. Consult your tax advisor

TRADITIONAL IRA: The traditional IRA became available to encourage
people to save for retirement and to provide for beneficiaries upon death. If deferring taxes on part of
your income is your strategy, a Traditional IRA may be
for you. Consult your tax advisor.

ROTH IRA: With a Roth IRA, contributions are made with after-tax dollars. Earnings are free from taxes, and IRS penalties, if certain conditions are met. Consult your tax advisor.

IRA TRANFERS & ROLLOVERS: Moving IRA money from one IRA to another has never been easier. Whether you are dealing with a Roth or Traditional IRA, you can move existing IRA money. Many people prefer to move retirement money as a transfer. See our IRA specialists for transfer forms. No part of this transaction is reported to the IRS. Rollovers may only be done once per year and the transaction must be completed within 60 days of the withdrawal from the first institution. A rollover is also used to move funds from your qualified pension plan to a Traditional IRA. Consult your tax advisor.

HEALTH SAVINGS ACCOUNTS: A Health Savings Account (HSA) is a tax-exempt account established exclusively for the purpose of paying or reimbursing qualified medical expenses for yourself, your spouse and your dependents. Certain conditions must be met to open a HSA. consult your tax advisor.

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