Savings

At The Stock Exchange Bank, we like to make banking simple.

At The Stock Exchange Bank, we like to make banking simple. We don't believe that any type of banking—especially personal banking—has to be complex or time-consuming to be effective. We simply match your needs with specific products that best meet those needs. It's banking that's honest and direct, with no complications. In short, you'll find that it's easy to do business with us.

Regular Savings

This traditional savings account is a convenient way to save.

Your account balance earns daily interest which is compounded and paid quarterly. You can open a regular savings account with an initial deposit of $100. A minimum balance fee of $10.00 per quarter will be charged if the average daily balance in the account falls below $100. An excessive transaction fee of $1.00 will be charged for each withdrawal over five per quarter. The minimum balance fee and initial deposit requirement will not apply to persons ages 18 and under or 55 and over.

Certificates of Deposit

Certificates are available for time periods as short as seven (7) days or as long as three (3) years.

Minimum initial deposit is $1,000 for time periods less than one year or $500 for time periods greater than one year. The interest rate is fixed for the term of the deposit, and additional deposits are not permitted. Because you leave the funds on deposit for a certain time period, you receive a higher interest yield. If, however, you wish to withdraw the funds before maturity, there will be a substantial penalty for early withdrawal.

Individual Retirement Accounts

Traditional IRA - The traditional IRA is an account which allows you to defer taxes on your earnings until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which they are made.

Roth IRA - The Roth IRA is a nondeductible account that 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, people who expect to be in a higher tax bracket when they retire may benefit more from these accounts than from a traditional IRA.

Education IRA - The Education IRA is a nondeductible account that features tax-free withdrawals for a very specific purpose - a child's higher education expenses. At first glance, the Education IRA may look similar to Traditional and Roth IRAs. However, while higher education distributions from a Traditional or Roth IRA are penalty free, the same distributions from an Education IRA are both penalty free and tax free.

This information is provided for marketing purposes only and is not intended to be a full disclosure. Full disclosures will be provided upon request or when an account is opened.

Please contact one of our new account representatives at 580-256-3314 to obtain rates on any of our interest bearing accounts.