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Certificate of Deposit (CD)

Regular CD

When you’re able to set money aside for a period of time, knowing withdrawals won’t be needed, a CD can help you attain savings goals with a higher interest return. With a deposit as low as $500, you can invest in a CD ranging from three to 60 months, helping you save for retirement, college, home buying, and other investments or expenses. Interest is accrued daily, compounded quarterly and can be paid by check, added to the CD balance or deposited into another First Bank account. A nominal penalty applies for early withdrawal.

Certificate of Deposit Account Registry Service^® (CDARS^®) for Regular CDs

Access FDIC protection on multi-million dollar CD investments through the CDARS service.  It’s a valuable cash management or long-term investment tool, placing a large balance in increments of less than the standard FDIC insurance maximum into CDs issued by other banks in the CDARS network.  This means your principal and interest are eligible for complete FDIC protection through many banks while working with just one.

Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement describing the placement of funds by us. The agreement contains imports terms and conditions.  Certificate of Deposit Account Registry Service and CDARS are registered service marks of Promontory Interfinancial Network, LLC.

Traditional Individual Retirement Account (IRA) CD

An IRA CD is one of many retirement planning tools available. With it, you can set aside money for periods of three to 60 months, allowing your savings to earn interest and defer payment of income taxes until you reach retirement age. A $500 minimum deposit is all you need to set up this account, and terms may be extended to allow for higher yields. Contact your tax advisor about the benefits available to you. Interest is accrued daily and compounded quarterly. A nominal penalty applies for early withdrawal. Penalties are waived for accountholders age 59½ and older.

Roth IRA CD

Similar to a traditional IRA CD, this account is designed for retirement savings and is available in terms of three to 60 months. The contribution, however, is deposited after taxation, and the earnings are then free from taxation. A $500 minimum deposit is all you need to set up this account, and terms may be extended to allow for higher yields. Contact your tax advisor about the benefits available to you.
Interest is accrued daily and compounded quarterly. A nominal penalty applies for early withdrawal.