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Time Deposits

Time Deposits

Certificates of Deposit

Certificates of Deposit are one of the most widely held and accepted investments around. Certificates of Deposit, commonly known as a CD, pay you, the depositor, a fixed rate of interest on your deposit for a fixed period of time, the time period can be stated in days or months. For CD rates click here.

FNB Bank CD’s with a maturity of 24 months and longer include a “bump-up” provision. This option allows the CD owner to “bump-up” his/her existing CD rate to the current bank offered rate for a like term CD. This option can be acted upon once during the term of the CD.

Individual Retirement Arrangements

Don’t leave your future to chance, open an FNB Bank Individual Retirement Arrangement (IRA) today. IRAs are special-purpose savings plans created by the federal government to help you build funds specifically for your retirement. What makes these special is that the government allows you to defer paying taxes on the interest they earn until you withdraw it. This helps your money grow much faster than in a comparable, taxable investment. In addition, some IRA savers’ contributions qualify as a tax deduction for federal income tax purposes. Check with your local tax advisor to be sure.

Even if you don’t qualify for a tax deductible contribution, you can still open a new IRA or contribute to an existing IRA. The compounded earnings will be tax deferred. Remember, you can open or make contributions to your IRA any time up until your tax due date, which is usually April 15.

If you currently have an IRA at another institution, you can move your Individual Retirement Arrangement from one institution to another without a tax penalty. Just because you open your account at one institution doesn’t mean you have to keep it there until retirement. FNB Bank offers both fixed rate and floating rate IRAs. Come in and talk to one of our Customer Service Representatives about moving your IRA to a high yielding FNB Bank fixed rate or floating rate IRA.

If you recently changed jobs and received a distribution from a Pension or Profit Sharing plan, you may be able to roll it over into an IRA or an annuity and continue to defer the taxes.

For IRA rates click here.

Club Accounts

FNB Bank now offers a savings tool for both Christmas and vacation needs. Our Club accounts pay a fixed interest rate on scheduled deposits into the Club Accounts. Club Accounts will automatically renew. A deposit will be made to the account you have designated for the account balance plus accrued interest in October for Christmas Clubs and in April for Vacation Clubs.