Individual Retirement Accounts (IRAs)

An Individual Retirement Account is a great way to save for your retirement. Bank 1st offers Traditional and Roth IRAs.

Traditional IRA
A Traditional IRA is funded with contributions that are most generally tax deductible, and interest is tax deferred until the funds are distributed.

Roth IRA
A Roth IRA is funded with after-tax dollars. Earnings grow tax-free if certain distribution rules are met.

We recommend consulting with your tax advisor to determine which IRA will be most beneficial for you. Our IRAs are FDIC insured and are insured separately from any other non-retirement accounts.

Current IRA Interest Rates

Rates effective for the month of December 2018

Type of Account

12 months

Fixed rate open deposit



12 months

Variable Rate * Open Deposit



60 months

Fixed Rate



Balance

$25-$24,999.99

$25,000-$49,999.99

$50,000-$99,999.99

$100,000 & over

$25-$24,999.99

$25,000-$49,999.99

$50,000-$99,999.99

$100,000 & over

$500-$24,999.99

$25,000-$49,999.99

$50,000-$99,999.99

$100,000 & over

Interest Rate

1.25%

1.39%

1.43%

1.47%

1.15%

1.29%

1.33%

1.37%

2.14%

2.28%

2.32%

2.36%

APY

1.26% D

1.40% D

1.44% D

1.48% D

1.16% D

1.30% D

1.34% D

1.38% D

2.16% Q

2.30% Q

2.34% Q

2.38% Q

*Variable account rates may change after account is opened.  Interest rates change first business day of month.

*Fees may reduce earnings.

*A penalty will or may be imposed for early withdrawal.

  • "APY" refers to "Annual Percentage Yield"
  • "D" refers to daily compounding
  • "M" refers to monthly compounding and crediting
  • "Q" refers to quarterly compounding and crediting
  • "S" refers to semi-annual compounding and crediting