Certificates of Deposit 
 
When you are looking for a low-risk investment for your hard-earned cash, you might want to consider a Certificate of Deposit (CD). This type of investment offers a higher rate of interest than a regular savings account.  Unlike non-bank investments, CDs are FDIC insured up to $250,000. 
 
When you purchase a CD, you invest a fixed sum of money for a fixed period of time-six months, one year, etc.- and in exchange the bank pays you interest, typically at regular scheduled times.  When you cash in or redeem you CD, you receive the money you originally invested plus any accrued interest.  If you redeem your CD before it matures, an “early withdrawal” penalty may apply. 
 
First State Bank, Yoakum certificates of deposit offer: 

  • MINIMUM opening deposits start at $500.00
  • Terms are offered from 30 days to 60 months.
  • CD information can be viewed on-line.
  • All deposits are FDIC insured for up to $250,000.00.

  • See our “rates/fees” sheet for more information on rates. 
     
    36-MONTH BUMP UP CD (non-renewable) 
     
    Get a great rate NOW with our 36-month bump up CD!  Open a Certificate of deposit for 36 months with a minimum deposit of $25,000 and if the interest rate goes up during the term of the certificate, you have a one-time option to “BUMP UP” your rate during the term. 
  • Interest paid and compounded quarterly.
  • One time option to increase or “bump up” the rate anytime during the original term.
  • Initial rate will remain in effect until notified by the customer to change the rate to the latest published rate by First State Bank, Yoakum’s regular $10,000 minimum 36-month CD. Rate carries forward from the date of increase and will not be retroactive.
  • CD will not renew automatically at maturity.
  • Contact one of our new accounts representatives for more information.

  • View our rates/fees page for current rates. 
     
    Individual Retirement Accounts (IRA’s) 
     
    Today, in our economy, one of our greatest challenges is having financial security at retirement age.  Make your commitment to rely on your own resources to support your lifestyle upon retirement.  First State Bank, Yoakum is here to help you build your retirement with the plan that will suit your needs in the future.  Remember, it’s never too late to start! 
     
    Here is a short description of your IRA options: 
     
    Traditional IRAs 

  • Often, contributions are 100% deductible.
  • Earnings grow tax-deferred.
  • Distributions are generally taxable, but penalty-free if withdrawn under certain circumstances:
  •                       Attaining age 59 ½ 
                          Incurring a disability 
                          Payment for certain health insurance, medical expenses and higher education 
                          expenses. 
                          Payment for a first home purchase 
                          Taking equal, periodic payments 
                          Death (payments to beneficiaries) or  
                          IRS tax levy 
     
    Distributions are required to be taken by traditional IRA holders beginning at age 70 ½. 
     
    Roth IRAS 

  • Contributions are never deductible.
  • Earning can grow tax-free.
  • Contributions can generally be distributed tax-free any time.
  • Earnings can be distributed tax free if the Roth IRA holder first made a Roth IRA at least 5 years ago and one of the following events occurs:
  •             Attaining age 59 ½ 
                     Incurring a disability 
                     Purchasing a first home or 
                     Death (payments to beneficiaries) 
     
    Distributions are not required to be taken by Roth IRA holders at age 70 ½. 
     
     
    Our bank offers the following IRA investments: 

  • IRA certificate of deposits with terms from six months to five years.
  • $500.00 minimum opening balance.
  • IRA CD investments are subject to substantial early withdrawal penalties.

  • These are the basic differences between these plans.  If you need more information concerning Individual Retirement accounts, please contact our account representatives to start your way to a great retirement. 
     
    Money Market Investors Account 
     
    Tiered rate Money Market Investors Account 
     
    First State Bank, Yoakum offers you a great rate with the flexibility of limited check writing. The higher your balance the more interest you earn with our Tiered rate Money Market Account! 
     
  • FDIC Insured.
  • $100.00 minimum opening deposit.
  • $1,000 minimum daily balance or an average daily balance of $1500 during a monthly statement cycle.
  • $10 monthly service charge if daily balance requirement is not maintained.
  • Earns interest based on the following tiers:
  • $1,000 to $49,999.99
  • $50,000 to 99,999.99
  • $100,000 to 99,999,999.99
  • Limited to Six (6) transfers from account by means of check, pre-authorized, automatic transfers, telephone, electronic banking or third party transfers.
  • $10 per item fee for excessive withdrawals or transfers.
  • Transfers and withdrawals made in person, or at an ATM are unlimited.
  • Free ATM card
  • Free On-line Banking or 24-hour Tele-bank line.
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    FDIC
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