• CD Terms, Minimum Deposit, & Method of Compounding:

• Interest Rates are determined by First National Bank based on current market rates and conditions and may be adjusted weekly.
• Interest is calculated daily and compounded quarterly if CD term is greater than 6 months.
• Transactions limitations:
  • Deposits to a CD are not allowed prior to maturity.
  • Principal withdrawals are allowable prior to maturity of the CD.
  • Accrued interest withdrawals are allowable for interest earned the prior quarter (without penalty) and the interest earned is available only on the date of crediting.

• Early withdrawal penalties:
  • CD's with an original maturity of less than or equal to six months are subject to an early withdrawal fee equal to the greater sum of $15.00 or seven days accrued interest on the sum withdrawn and subject to penalty.
  • CD's with an original maturity equal to six months but less than or equal to one year are subject to the early withdrawal fee equal to the greater of $15.00 or 90 days accrued interest on the sum withdrawn and subject to penalty.
  • Finally, CD's with an original maturity exceeding one year are subject to an early withdrawal fee greater of  $15.00 or 180 days accrued interest on the sum withdrawn and subject to penalty.

• CD's are automatically renewable at maturity.
  • CD's will automatically renew upon maturity. Each renewal term will be equivalent to the original term beginning on the maturity date at the current rate of interest for a CD of that term. A grace period equal to 10 calendar days is allowed upon maturity to withdraw/cash the CD without incurring any penalty/fee.

• 18 Month IRA Variable Rate Time Account
• Minimum balance to open an IRA is $50
• Minimum daily balance to attain a percentage yield disclosure is $1,000.
• Interest is calculated daily and paid monthly. The Interest Rate and APY (annual percentage yield) may change at any time at First National Bank's discretion.
• Maximum IRA deposit is $3,000 or the sum stipulated per federal limits on an annual basis.
• An early withdrawal penalty/fee may be charged for any withdrawal prior to maturity.
• IRA's are automatically renewable at maturity. A grace period equal to 10 calendar days is allowed upon maturity to withdraw/cash the IRA without incurring any penalty/fee.
• Beware of Tax Consequences for an early IRA withdraw. Generally, one must attain age 59½ or be disabled to take distributions from an IRA without potential penalty or taxation per Internal Revenue Code.
• Fees -  Withdrawal Fee $5.00.  Closing Fee $15.00. No Annual Service Fee.

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