Certificate of Deposit 


Certificate of Deposit is a deposit contracted to leave your money on deposit for a specific period of time for a specific rate. Generally, the longer the money is left on deposit, the higher the interest rate. *Interest penalties exist for withdrawal prior to the maturity date.



Planters First Bank offers highly competitive rates and they are guaranteed for the entire term, regardless of changes in the market conditions. You may also stop by one of our locations for more information about CDs.


Individual Retirement Accounts

A perfect supplement to social security or pension funds. We offer both Roth and Traditional IRAs, each having unique qualification requirements and different tax treatments. 

Traditional IRA
If you are younger than age 70 ½ for the entire tax year and have compensation, you are eligible to make an annual tax-year contribution to a traditional IRA. You are eligible even if you already participate in certain government plans, a tax sheltered annuity, a simplified employee pension (SEP) plan or a Savings Incentive Match Plan for Employers (SIMPLE), or a qualified pension or profit-sharing plan established by an employer.

The traditional IRA allows you to defer taxes on the earnings on your contributions until they are withdrawn. Certain contributions are tax deductible in the tax year for which you make them.


Roth IRA

A Roth IRA allows only nondeductible contributions but 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, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a traditional IRA.


Savings Incentive Match Plan (SIMPLE)

A SIMPLE, or Savings Incentive Match Plan for Employees of Small Employers, is a salary reduction arrangement similar to a 401(k) plan. However, SIMPLE contributions are deposited into a unique SIMPLE IRA. This IRA can only accept contributions under a SIMPLE. No other IRA contributions are permitted.


Simplified Employee Pension (SEP)

Simplified Employee Pension plans (SEPs) can provide a significant source of income at retirement by allowing employers to set aside money in retirement accounts for themselves and their employees. Under a SEP, an employer contributes directly to traditional individual retirement accounts (SEP-IRAs) for all employees (including the employer). A SEP does not have the start-up and operating costs of a conventional retirement plan and allows for a contribution of up to 25 percent of each employee’s pay.

  •  Small business owners may consider the SEP or Simple IRA plan as a means of providing retirement savings for yourself and your employees. 

*Please consult your tax advisor regarding eligibility and deductibility of an Individual Retirement Account.