Retirement Accounts
It’s never too early or too late to plan for retirement. At American Bank, we offer Individual Retirement Accounts (IRAs) to help you turn decades of hard work into well-deserved rest and relaxation.
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Your contributions may even be tax deductible, and the interest earned each year is also deferred on your taxes. Have questions? Our Bankers are here to help.
Traditional IRA
A way of saving for retirement that allows earnings to grow tax-deferred. Taxes are paid only when withdrawals are made during retirement.
- $500 minimum opening deposit.
- Taxed withdrawals.
- $6,000 maximum annual contribution ($7,000 after the age of 50).
Roth IRA
With a Roth IRA, contributions are taxed when they go into the account. When withdrawals are made during retirement, they may be tax-free.
- $500 minimum opening deposit.
- Withdrawals may be tax-free.
- $6,000 maximum annual contribution ($7,000 after the age of 50).
Coverdell IRA
- $500 minimum opening deposit.
- Tax-free withdrawals.
- $2,000 maximum annual contribution.
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Our truly personal approach to service is what sets us apart. At American Bank, you don’t just open an account. You start a relationship, the way banking should be. We are committed to your success, and are here to act as your trusted advisor on all aspects of your financial life.
Account Protection
The potential for fraud exists with virtually every transaction. Here are some tips on how to be alert and minimize your risk.
Investment, retirement and estate planning, and personalized asset management is offered by American Bank, N.A. through one of our Trust Officers, OR through our affiliate American Investment Services, a division of Herndon Plant Oakley Ltd., member FINRA/SIPC.
Investment Products: Not FDIC insured, not bank guaranteed, may lose value.
American Investment Services: Not FDIC insured, not bank guaranteed, may lose value.
FR2011-0114-0334/E
