Individual Retirement Account

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Your hometown community bank since 1952.

 For more information, please call us at 753-1521.



For more videos on IRAs, please view our IRA Video Library here.

An IRA is Convenient

An IRA is easy to open; it's available to anyone who is under 70 1/2 and has earned income. So no matter what your income or what type of pension plan you currently have, you can look forward to the retirement benefits of an IRA.

In most cases, an IRA is Tax Deductible

If you are actively participating in an employer-maintained retirement plan, your income determines how much of your contribution is deductible. Fact is, most taxpayers can still deduct all or part of their IRA contributions.

You enjoy the benefit of Tax-Deferred Interest

Whether or not your contributions are deductible, you earn tax-deferred interest on all of your deposits-right up to the time you begin withdrawing funds. This allows your retirement savings to grow faster in an IRA than they would in a similar taxable account.

Take charge of your own retirement plan

Unlike most other pension plans, you control your IRA investments. In fact, your IRA is 100 percent yours from the day you open it.

You may deposit any amount up to 100 percent of your compensation or $5,500.00; whichever is less. For individuals 50 years or older you may deposit up to $6,500.00. Compensation is the salary or wages you receive as an employee. If you are self-employed, compensation is your net income for personal services performed for the business. Passive income such as interest, dividends, and rental income is not considered compensation for purposes of funding an IRA.

Trust IRAs

In addition to IRA Time Deposits, Community Bank & Trust has the option of offering Trust Department IRA's to you. Our Trust Department is capable of offering a wide variety of investment options to you (mutual funds, stocks, bonds, etc.). For more information, please see TRUST SERVICES, or contact any Trust Officer at (254) 753-1521.

Please Note: Trust products are non-deposit investment products that are not FDIC insured; are not obligations of, guaranteed or endorsed by Community Bank & Trust, Waco, Texas, its parent company or its affiliates, and are subject to investment risks, including possible loss of principal amount invested.