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Christmas Club
Savings
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First State Bank Christmas Club Savings Accounts make
holiday shopping easier by helping you save a little each week throughout
the year. You will receive your check in plenty of time to get your
Christmas shopping completed before the BIG DAY. You may choose to drop
in weekly to make a payment, or for your convenience you may have an
automatic transfer every Friday from your First State Bank checking
account.
Account
Features
Interest: This account does NOT
earn interest.
Minimum Balance Requirements: The balance required to open a
Christmas Club Account varies depending on desired the amount at maturity
as follows:
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Minimum Opening
Balance
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Club Amount at
Maturity
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$5
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$255
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$10
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$510
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$20
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$1,020
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Bonus: You will receive a 51st payment as a bonus if you make 50
weekly payments to this account.
Payment at Maturity: You will receive a check at maturity.
Contact us
or stop by one of our banking
centers today for more information, to check current rates and
fees, or to set up a savings account with First State Bank.
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Passbook Savings
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Need
a simple way to save some money, try out First State Banks Passbook
Savings Account. To make life even simpler, we can automatically transfer
preset amounts weekly or monthly from your First State Bank checking
account. As with all First State Bank accounts, you have phone or
Internet access 24 hours a day, 7 days a week.
Account
Features
Minimum
to Open Account:
You must deposit at least $100.00 to open this account.
Withdrawals: Up to twelve withdrawals are allowed per quarter
without charge. A $1.00 activity fee will apply for each withdrawal after
twelve per quarter.
Minimum Balance Requirements: If account balance on the last day
of the quarter is less than $50, a $1.00 quarterly minimum balance fee
will apply. The minimum balance fee will not be charged on accounts held
by minors.
Balance Computation Method: We use a daily balance method to
calculate the interest on your account. This method applies a daily
periodic rate to the principal in the account each day.
Rate Information: Please call one of our banking
centers for current rates.
Compounding and Crediting: Interest will be compounded quarterly
and credited on the last day of the quarter.
Accrual of Interest on Deposits Other Than Cash: Interest begins
to accrue no later than the business day we receive the credit for the
deposit of non-cash items (for example, checks).
Closing Account: If you close your account before interest is
credited you will not receive the accrued interest. If you close your
account within six months of opening, you will be charged a $25 fee.
Additional Features
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Quarterly
Statements
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ATM
access with ATM card
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Contact us
or stop by one of our banking
centers today for more information, to check current rates and
fees, or to set up a savings account with First State Bank.
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First Gold /
Money Market
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First
State Banks First Gold Money Market interest bearing account is designed
to meet your needs if you typically carry a higher minimum balance in
your First State Bank deposit accounts. Please check with one of our
customer service representatives to see if this account is right for you.
Account
Features
Minimum
to Open Account:
A $10,000.00 minimum opening deposit is required to open this account.
Service Charges: $8.00 monthly service charge if the average
monthly balance is less than $10,000.
Interest: This is an interest bearing account.
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Interest
rates are tiered based on balance:
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$10,000
$24,999
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$25,000
$49,999
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$50,000
$99,999
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$100,000+
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Interest
earned on the entire balance
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Preferred
rate
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Simple
interest begins accruing on the business day credit is received for the
deposit
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Compounds
monthly
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Credits
to the account monthly
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Forfeited
if account is closed before credited
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See
rate chart for current rate
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Rates
are subject to change without notice
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Withdrawals:
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Six
withdrawals allowed per month by preauthorized transfers, ACH, or
telephone
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Three
withdrawals may be made by check, draft or debit card to a third party
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Unlimited
transfers and withdrawals at the teller window and ATM
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Minimum
transfer or withdrawal amount is $500.00
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The following services are available to you when you open a First Gold
Money Market Account with First State Bank:
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Direct
deposit available
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Free
Touchtone Banking
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FDIC
Insured
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Contact us
or stop by one of our banking
centers today for more information, to check current rates and
fees, or to set up a savings account with First State Bank.
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Certificates Of
Deposits
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First
State Bank offers Certificate of Deposit accounts if you want to earn a
higher interest rate on your funds for a specified dollar amount over a
specified length of time.
Terms Available for CDs:
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30
day
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60
day
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91
day
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182
day
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12
month
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18
month
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24
month
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30
month
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36
month
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42
month
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48
month
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60
month
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84
month
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Repurchase
Agreements
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Minimum Opening Deposit:
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A
minimum opening deposit of $1,000 is required for terms 30 days to 12
months
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A
minimum opening deposit of $500 is required for terms 18 months to 5
years
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Interest:
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Fixed
for term of certificate
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Accrues
daily
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Compounds
monthly
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Credited
monthly
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May
be paid by check, automatically deposited to an account, or compounded
to the face of the CD
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Penalties for Early Withdrawal:
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One
months interest for terms 12 months or less
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Three
months interest for terms greater than 12 months
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Penalty
will be waived in the event of the death of any one account holder
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Other Features:
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10
business day grace period after the day of maturity
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Accounts
automatically renew at the current rate, previous term if the customer
does not respond within the 10-day grace period
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CDs
may be used as collateral for a loan
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FDIC
Insured
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Contact us
or stop by one of our banking
centers today for more information.
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IRAs
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If
you want to be financially secure after retirement, then consider opening
an Individual Retirement Account with First State Bank. Our IRAs are an
excellent way to save and can offer important tax saving advantages.
Account
Features
Minimum to Open Account: A minimum initial deposit of $500 is
needed to open this account.
Term: Various term lengths are available ranging from 12 months to
60 months.
Rate Guaranteed for Term Selected: The interest rate is fixed for
the term of the certificate.
Both traditional and Roth IRAs offer the following benefits:
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FDIC
insurance up to $100,000
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Full
or partial tax-deductible contributions
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Tax-deferred
earnings
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May
be eligible for penalty-free withdrawals
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May
be eligible for withdrawals
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Click
here to read IRS Rules for IRAs.
IRA
Comparison Chart
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Features
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Traditional
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Roth
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Education
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Calendar for
Contributions
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16 month
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16 month
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12 month
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Contributions are
tax-deductible
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Possibly, consult tax
advisor
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No
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No
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Earnings are tax free
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No
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Yes*
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Yes, if used for
childs higher education
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Able to convert to
another type of IRA
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Yes, to a Roth
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Yes, back to
Traditional
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No
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Contributions from
earned income
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Required
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Required
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Required
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Maximum age for
contributions
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70
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Any age
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Until child is 18
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Maximum annual
contribution per person beginning in 2003***
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$3,000
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$3,000
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$2,000 per child
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Age penalty-free distributions
may begin
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59
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59
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Age child begins
education
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Age distributions
must begin
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70
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Not mandatory at any
age
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Before child is 30
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Penalty for early
withdrawals*
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IRS penalty if
withdrawn before 59
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IRS penalty and taxes
if withdrawn before 59
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IRS penalty and taxes
if not used before child is 30**
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Transfers/rollovers
allowed
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Yes, must be put back
in IRA within 60 days
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Yes, must be put back
in IRA within 60 days
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Yes, must be put back
in IRA within 60 days
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Annual fees for CD
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No
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No
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No
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*
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There
may be exceptions. Customer should check with tax advisor.
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**
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May
be rolled over to another family member to use for higher education if
not used before child is 30.
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***
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Age
50 and older may make larger contributions.
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Contact us
or stop by one of our banking
centers today to speak with one of our investment specialists
about opening an Individual Retirement Account.
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