Personal CDs and IRAs

At Farmers Bank & Trust, we have a variety of terms and competitive rates to help your money grow and fit your needs.

Certificate of Deposit (CD)

CDs are investment options that offer a wide range of terms and earn competitive interest rates that are guaranteed for the term.

  • A variety of terms available to meet your investment needs
  • Interest paid monthly, quarterly or semi-annually depending on the deposit term
  • Interest can be added back to the CD, deposited to an FB&T checking or savings account or paid by check
  • $500 minimum to open
Subject to early withdrawal penalties.

Individual Retirement Account (IRA)

We have four IRA options to meet your needs requiring $500 minimum to open and terms ranging from 12 to 60 months.

  • Traditional IRA - An account that allows you to defer taxes on your earnings until they are withdrawn. Certain contributions are tax deductible in the tax year for which they are made. You must be under age 70½ for the entire year and have earned income (or your spouse must have earned income) to be eligible for a traditional IRA.
  • Roth IRA - A nondeductible account that features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, people who expect to be in a higher tax bracket when they retire may benefit more from this type of an account than from a traditional IRA. To be eligible to contribute to a Roth IRA, you must have earned income (or your spouse must have earned income) and your modified adjusted gross income (MAGI) cannot exceed certain limits.
  • Education IRA - Is a nondeductible account that features tax-free withdrawals for a child's higher education expenses. Distributions from an Education IRA are penalty-free and federal income tax-free. There is no requirement that the contributor have earned income or be under age 70½. Contributions may be made on behalf of a child until the day before their 18th birthday.
  • SEP IRA - Is a retirement plan specifically designed for self-employed people and small-business owners. When establishing a SEP IRA plan for your business, you and any eligible employees establish your own separate SEP IRA; employer contributions are then made into each eligible employee's SEP IRA.