Products

Checking Accounts
Savings Accounts
Certificates of Deposit
IRAs
Health Savings Accounts
U.S. Savings Bonds

First Free Checking

  • No minimum balance requirement
  • No monthly service charge
  • No monthly activity charge
  • Unlimited check writing
  • Truncated Monthly Statement
    (Checks are not returned, instead customers receive a listing of check numbers, amounts and date cashed)

    First Checking
  • $500.00 minimum balance requirement
  • $7.00 maintenance fee if balance falls below $500.00 in the statement cycle
  • Unlimited check writing
  • Imaged monthly statement (Miniature photocopies of checks are printed on statement.)

    First Plus Checking
  • $1,500.00 minimum balance requirement
  • $8.00 maintenance fee if balance falls below $1,500.00 balance requirement during statement cycle
  • Imaged monthly statement
  • This account offers a tiered interest rate that is calculated by the daily balance method

    Money Market Account
  • $2,500.00 minimum balance requirement
  • $7.00 maintenance fee if balance falls below $2,500.00 requirements during statement cycle
  • $5.00 activity fee for each debit transaction over six per month
  • Transaction limitations: transfers from the Money Market Account to another account or to third parties by pre-authorized, automatic or telephone transfer, are limited to six per month, with no more than three by check, draft, debit card, or similar order to third parties.
  • Interest-bearing account (Interest rate is tiered and is calculated by the daily balance method
  • Imaged monthly statement


    First Gold Checking
  • Must be 50 years of age or older
  • $1,500.00 minimum balance requirement
  • $5.00 maintenance fee if balance falls below $1,500.00 in the statement cycle
  • Imaged monthly statement
  • Interest-bearing account (Interest rate is tiered and is calculated by the daily balance method)
  • Unlimited free checks


    Order Your Checks Online
    First State Bank now offers online ordering for checks through Deluxe. You'll find personal checks that match your passion and business checks and forms for your small business. Deluxe offers check printing, check accessories, business cards and stationery, forms, and other products for small businesses. Deluxe checks are the most popular checks in the world. Click here to order:
  • Re-Order Checks


    First State Savings Accounts

    First Priority Savings
  • $100.00 minimum balance requirement
  • $4.00 maintenance fee if balance falls below $100.00 requirement during quarterly statement cycle
  • Maximum of 6 cash withdrawals per quarter, excluding paperless items ($1.00 activity fee per transaction after the initial six withdrawals.)
  • Interest rate is calculated by the daily balance method

    First Future Savings
  • Must be 18 years of age or younger
  • No maintenance fee
  • Maximum of 6 cash withdrawals per quarter, excluding paperless items ($1.00 activity fee per transaction after the initial six withdrawals)
  • Interest earned is calculated by the daily balance method 


    Certificates of Deposit

    Certificates of Deposit: Outstanding rates, flexible plans

    A certificate of deposit, or "CD," generally requires a minimum initial deposit for a set minimum term. Interest rates for CDs can be either fixed or variable. This is a good option for safety and income.  Please see our rate section to view current available rates.

     

     


    IRAs

    Select from these IRAs:

    Traditional IRA
    A $3,000 maximum contribution per individual or $6,000 for joint filers may be either deductible or non-deductible, depending on your Adjusted Gross Income, eligibility to participate in an employer-sponsored retirement plan, and your tax filing status. In addition, persons age 50 and over can contribute another $500 per year. Withdrawals are taxed at your ordinary income tax rate, and penalties may apply if withdrawals are made prior to age 59-1/2. Minimum distributions must begin at age 70 1/2.


    Roth IRA
    The Roth IRA is an alternative retirement planning mechanism. The $3,000 maximum contribution is not tax-deductible, but qualified withdrawals of contributions and earning can be federal income tax-free if certain withdrawal requirements are met. In addition, persons age 50 and over can contribute another $500 per year. You may also benefit from a Roth IRA by converting your existing Traditional IRA to a Roth IRA. (Total contributions to Traditional and Roth IRAs cannot exceed $3,000 per individual.)

     

     


    Health Savings Account


    What is a Health Savings Account?
    A Health Savings Account (HSA) is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of you and your family.

    How is an HSA Established?
    An HSA is established by you in much the same way that you establish an IRA.

    Am I Eligible for an HSA?
    You are eligible to make or receive an HSA regular contribution if, with respect to any month, you:

  • Are covered under a high-deductible health plan (HDHP) on the first day of such month;
  • Are not covered under another type of health plan that is not an HDHP (with certain exceptions for plans providing certain limited types of coverage);
  • Are not entitled to benefits under Medicare (generally, have not attained age 65); and
  • May not be claimed as a dependent on another individual’s tax return.

    What is a High-Deductible Health Plan?
    A High-Deductible Health Plan (HDHP) is a plan with an annual deductible of at least $1,000 for individual coverage or $2,000 for family coverage. These amounts are subject to cost-of-living adjustments (COLAs).

    Are There Other Requirements for the HDHP?
    Yes. For HSA purposes, the HDHP must limit out-of-pocket expenses. At present, the maximum out-of-pocket expenses, which include money applied to your deductible and your coinsurance for covered charges, must be no more than $5,000 for individual coverage and no more than $10,000 for family coverage. These amounts are subject to COLAs.

    Who Can Contribute to My HSA?
    If you meet the eligibility requirements for an HSA, you, your employer, and your family members may contribute to your HSA. This is true whether you are self-employed or unemployed.

    How Much Can I Contribute to My HSA?
    The maximum annual contribution amount is generally the lesser of 100 percent of the annual deductible under the HDHP or a specified amount (subject to COLAs). At present, the specified amount is $2,600 for individual coverage and $5,150 for family coverage.

    Additionally, a “catch-up” contribution is available for eligible individuals who have attained age 55 by the end of their taxable year but have not attained age 65. The chart that follows shows these additional amounts.
    Tax Year Catch-Up Amount
    2005 $ 600
    2006 $ 700
    2007 $ 800
    2008 $ 900
    2009 $1,000


    When Is the Contribution Deadline for Funding an HSA?
    Regular and catch-up HSA contributions can be made at any time up to and including your federal income tax return due date, excluding extensions, for that taxable year. The due date for most taxpayers is April 15.

    What Happens to My HSA in the Event of My Death?

    Spouse Beneficiary
    If your spouse is the beneficiary of your HSA, the HSA becomes his or her HSA.
    Nonspouse Beneficiary
    If your beneficiary is not your spouse, the HSA ceases to be an HSA as of the date of your death and will be included in the beneficiary’s gross income for the year of death.

    What Are the Federal Tax Benefits of an HSA?
    Contributions to an HSA are fully deductible, the earnings grow tax deferred, and distributions for qualified medical expenses are tax free. Consult with your tax or legal professional for guidance.

    How Do I Claim the Federal Tax Deduction for My HSA Contribution?
    Contributions made by you, and by family members on your behalf, which do not exceed the maximum annual contribution amount, are deductible by you when determining your adjusted gross income for your federal income tax return. You cannot deduct employer contributions, and these contributions will not count as wages for federal income tax purposes.

    How Are HSA Distributions Taxed?
    Distributions from your HSA used exclusively to pay for qualified medical expenses of you, your spouse, or your dependents are excludable from gross income. Any other distributions are included in your gross income and subject to an additional 10 percent tax on the amount included, except in the case of distributions made after your death, your disability, or your attainment of age 65. HSA distributions that are not rolled over will be taxed as income in the year distributed, unless they are used for qualified medical expenses. HSA custodians are not required to determine whether HSA distributions are used for qualified medical expenses.


    U.S. Savings Bonds

    Why choose U.S. Savings Bonds?

  • Bonds are EASY TO BUY! EE Bonds and I Bonds are available for purchase at First State Bank. Ask about automatic deductions from your bank account through EasySaver. You pay no fee or commission!

  • Bonds are SAFE AND SECURE! Bonds can be replaced if lost, stolen, or destroyed, if it can be established that the bonds haven't been cashed or, if cashed, have been paid in error to the wrong person.

  • Bonds are a MARKET-BASED INVESTMENT! The Series EE savings bonds will earn market-based rates for 30 years.

  • Bonds are a LIQUID, LONG-TERM INVESTMENT! Your investment will grow for 30 years, but bonds can be cashed anytime after six months.

  • Bonds have TAX ADVANTAGES! Interest earned on U.S. Savings Bonds is exempt from State and local income tax. You can also defer paying Federal income tax on the interest until you cash your bond or until it stops earning interest in 30 years.

    It's easy to buy U.S. Savings Bonds at First State Bank. The bonds begin earning interest from the first day of the month in which you buy the bond. If you're buying a bond as a last-minute gift, ask the teller for a free gift certificate!

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     



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