Business Checking Accounts
Free Business Checking
If your preference is a basic business checking account with no frills, Free Business Checking is your choice! Best for businesses who conduct less than 200 transactions per month.
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- $100 Minimum Opening Deposit
- No interest earned
- No minimum balance requirements
- Monthly statements with check images
- Transaction Limits:
- 200 or fewer combined transactions (credit, debit, all items deposited) per month
- Service Charge assessed if combined transaction limit is exceeded:
- $0.30 fee per item over 200 items
Includes:
1Business Bill Pay fee is $6.50/month + $0.80 per item over 5 per month document 1
2e-Statements are also available for your accounts. You can enroll in e-Statements through Online Banking. Click here for e-Statement enrollment instructions.
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Business Checking
For those business customers that exceed the 200 item limit of a Free Business Checking account.
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- $100 Minimum Opening Deposit
- No interest earned
- Monthly statements with check images
- Services charges on the account depend on the usage and the collected balance carried on the account.
- $8.00 Monthly Service Charge
- Additional Services Charges are as follows: $0.15 per debit, $0.20 per deposit and $0.03 per on-us deposited items and $0.10 for transit deposited items.
- Any of the monthly or per item account fees may be offset by an earnings credit. Credit is calculated as follows:
- The average collected balance in the account less a 3% reserve requirement multiplied by the average of the 91-day U.S. Treasury Bill rate for the prior 4 weeks.
- The earnings credit is only used to offset account fees and is not carried forward from one month to another.
- The account will also be charged a fee of Wall Street Journal Prime Rate (adjusted monthly) plus 3.00% for a negative average available balance.
Includes:
1Business Bill Pay fee is $6.50/month + $0.80 per item over 5 per month document 1
2e-Statements are also available for your accounts. You can enroll in e-Statements through Online Banking. Click here for e-Statement enrollment instructions.
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Business Interest Checking
Business Interest Checking is available to sole proprietorships and not-for-profit organizations. Business Interest Checking is an excellent choice for businesses that write a high number of checks each month and make many deposits.
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- $100 Minimum Opening Deposit
- Monthly statements with check images
- Interest bearing if account balance remains above $1,000 during the statement period
- $10.00 Monthly Service Charge
- Waived if account balance remains above $1,000 during the statement period.
- Other account fees:
- $0.15 per debit, $0.20 per deposit and $0.03 per on-us deposited items and $0.10 for transit deposited items.
Includes:
1Business Bill Pay fee is $6.50/month + $0.80 per item over 5 per month document 1
2e-Statements are also available for your accounts. You can enroll in e-Statements through Online Banking. Click here for e-Statement enrollment instructions.
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Business Savings Accounts
Savings Account
Start saving for your goals today! See a personal banker for current interest rate and annual percentage yield for this interest-bearing account.
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- $100 minimum balance to receive interest.
- $1 monthly service charge; this is waived if account balance is $100 or more (during four week period)
- 6 withdrawals or transfers allowed per four week period. However, a service charge of $1.00 will be assessed for each withdrawal or transfer over 3 in the same four week period.
- Interest is compounded and credited quarterly.
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Regular Savings
Need to save for something? A Regular Savings account is an easy way to save and earn interest- with low monthly limits.
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- $100 minimum opening deposit
- $100 minimum balance to receive interest.
- $1 monthly service charge; this is waived if account balance is $100 or more (during four week period)
- 6 withdrawals or transfers allowed per four week period. However, a service charge of $1.00 will be assessed for each withdrawal or transfer over 3 in the same four week period.
- Interest is compounded and credited quarterly.
Includes:
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Money Market Account
For liquid savings with check writing capabilities. Open a new Money Market account today and start maximizing your interest!
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- $1,000 minimum balance to receive interest.
- $10 per month service charge; this is waived if minimum balance is $1,000 or more.
- Six withdrawals permitted per statement cycle (only three to third parties).
- Fee of $3 per debit over six per month and a fee of $.20 cents per foreign item deposited over 30 per month.
- Interest is compounded and credited monthly.
- Monthly statements with check images.
Includes:
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Performance Money Market Account
Provides a higher rate of return than a regular savings account. In fact, it is performance based – the higher the balance, the better the rate! The Performance Money Market Account is designed especially for those who plan to maintain a balance greater than $150,000.
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- $1,000 minimum balance to receive interest.
- $10 per month service charge; this is waived if minimum balance is $1,000 or more.
- Six withdrawals permitted per statement cycle (only three to third parties).
- Fee of $10 per debit over six per month and a fee of $.20 cents per foreign item deposited over 30 per month.
- Interest is compounded and credited monthly.
- Monthly statements with check images.
Includes:
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Certificates of Deposit
Save for your long-term goals. This is an investment that pays a fixed rate and has a maturity date.
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Terms Available:
- 91 day ($2,500 minimum)
- 182 day ($2,500 minimum)
- 12 month ($500 minimum)
- 18 month ($500 minimum)
- 24 month ($500 minimum)
- 30 month ($500 minimum)
- 36 month ($500 minimum)
- 60 month ($500 minimum)
- 60 month flex-change certificate ($5000 minimum)
Your Certificate of Deposit could be subject to a penalty if you withdraw any of the principal before the maturity date. Please refer to the bank’s Deposit Agreement for details.
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Individual Retirement Accounts (I.R.A.’s)
Enjoy financial security by saving for your retirement! First State Bank & Trust offers several types of IRA’s.
Self-Directed IRA
You direct your retirement savings with this flexible alternative to the traditional IRA. Funds may be invested in deposit accounts, mutual funds or stocks. Your selection of investment type determines whether the investment is FDIC insured. See a personal banker today for more information about self-directing your retirement portfolio.
Note: Some IRA investments may not be insured by the FDIC. Mutual funds, stocks and bonds are not deposits or obligations of any bank; are not guaranteed by any bank; and are not insured or guaranteed by the FDIC, Federal Reserve Board or any other government agency. Investment in mutual funds, stocks or bonds involves risk, including possible loss of principal. Additional information is available from our personal bankers. Please contact us.
Roth IRA
Contributions are not tax deductible but earnings grow tax-free. This is excellent account to save for retirement and make tax-free withdrawals later on.
Note: Some IRA investments may not be insured by the FDIC. Mutual funds, stocks and bonds are not deposits or obligations of any bank; are not guaranteed by any bank; and are not insured or guaranteed by the FDIC, Federal Reserve Board or any other government agency. Investment in mutual funds, stocks or bonds involves risk, including possible loss of principal. Additional information is available from our personal bankers. Please contact us.
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- Individuals may make non-deductible contributions to a ROTH IRA of 100% of earned income or a maximum total of $3,000.00 per year in 2003, whichever is less. See table below for current contribution limits.
- Single filers with an Adjusted Gross Income (AGI) less than $95,000.00 and joint filers with an AGI less than $150,000.00 are eligible for the $2000.00 maximum contribution.
- Distributions will not be included in income or receive the 10% Premature Distribution Penalty as long as the principal and earnings have remained in the IRA for at least 5 years from the first contribution date and the withdrawal is considered a "qualified distribution".
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SIMPLE IRA (Savings Incentive Match Plan for Employees)
This is a retirement plan where employees (including the employer) can make pre-tax contributions to IRAs. Available for businesses with fewer than 100 employees.
Note: Some IRA investments may not be insured by the FDIC. Mutual funds, stocks and bonds are not deposits or obligations of any bank; are not guaranteed by any bank; and are not insured or guaranteed by the FDIC, Federal Reserve Board or any other government agency. Investment in mutual funds, stocks or bonds involves risk, including possible loss of principal. Additional information is available from our personal bankers. Please contact us.
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- This IRA is for employers with fewer than 100 employees.
- Employee and employer contributions are 100% vested.
- The employer contribution must satisfy a matching contribution or a non-elective Contribution.
- See a personal banker for more details.
- Current contribution levels are noted in the table below.
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S.E.P. IRA (Simplified Employee Pension Plan)
This IRA is ideal for a small business or a self-employed individual to set up a retirement plan for himself or herself and all employees who meet qualifications. Annual contribution limits for the S.E.P. IRA may be higher than those for Traditional or Roth IRAs.
Note: Some IRA investments may not be insured by the FDIC. Mutual funds, stocks and bonds are not deposits or obligations of any bank; are not guaranteed by any bank; and are not insured or guaranteed by the FDIC, Federal Reserve Board or any other government agency. Investment in mutual funds, stocks or bonds involves risk, including possible loss of principal. Additional information is available from our personal bankers. Please contact us.
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- Employer deposits money into employees' IRA's.
- Contribution is the lesser of 25% of compensation or $40,000.00.
- Incorporated, unincorporated, full-time or part-time businesses eligible.
- See a personal banker for more details.
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FDIC-Insured - Backed by the full faith and credit of the U.S. Government