Savings

Everyone needs a little financial security for their future. At First State Bank, we have the savings account that is right for you. From our traditional Regular Savings, to our Shoe Box Savings, to our Christmas Club Savings, we are sure to have the account that will fit your needs. 

In addition to our savings accounts, we also have competitive rates on our CDs from 3 months to 60 months. We also have IRAs which are based on our CD rates. All of our savings products are insured up to $250,000 by the Federal Deposit Insurance Corporation.


REGULAR SAVINGS

Our regular savings account has a minimum opening deposit of $50.00. You must maintain a balance of $100.00 or more to avoid a $2.00 quarterly minimum balance fee. You will be allowed 6 withdrawals from your account each quarter. A $2.00 fee will be imposed for each subsequent withdrawal. A $5.00 charge will be imposed if the account is closed within 1 year of opening. A $5.00 fee per statement cycle will be imposed if there has been no activity in the account for a period of 12 months and the account balance is less than $100.00. 

You must maintain a minimum daily balance of $100.00 in the account each day to obtain the disclosed annual percentage yield. You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement. Interest will be compounded quarterly and will be credited to your account quarterly. If you close your account before interest is credited, you will not receive the accrued interest. The interest rate on your account may change at any time.


SHOE BOX SAVINGS

Our Shoe Box Savings is for children 15 years of age or younger. You must deposit $25.00 to open this account. You may make 1 withdrawal from your account each month. A $2.00 fee will be imposed for each subsequent withdrawal. 

You must maintain a minimum daily balance of $25.00 in the account each day to obtain the disclosed annual percentage yield. You will earn interest for every day that your account equals the minimum daily balance requirement. Interest will be compounded quarterly and credited to your account quarterly. If you close your account before interest is credited, you will not receive the accrued interest.


CHRISTMAS CLUB SAVINGS

Start putting something aside now in our Christmas Club savings account and get your holiday shopping off to a great start. You can open your Christmas Club account with just $10. You will receive an annual check no later than the 10th of November each year for the balance of your account. Best of all you can make deposits to your Christmas funds anytime, in any amount.

*Early withdrawals result in account closure.


MONEY MARKET ACCOUNT

You must deposit $2,500.00 to open this account. A service fee of $10.00 will be imposed every statement cycle if the balance falls below $2,500.00 any day of the statement cycle. You may make only 6 withdrawals or transfers from your account each statement cycle – by check, draft, debit card, or other similar orders made to third parties. If you exceed the limitations set forth above in any statement cycle, your account will be subject to closure. A withdrawal fee of $5.00 will be charged for each withdrawal in excess of three during a statement cycle. 

You must maintain a minimum of $2,500.00 in the account each day to obtain the disclosed annual percentage yield. You will earn interest for every day during the period that your account equals or exceeds the minimum daily balance requirement. Interest will be compounded monthly and credited to your account monthly. If you close your account before interest is credited, you will not receive the accrued interest.