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Roth IRAs

Traditional doesn't mean boring when planning for an enjoyable retirement.

Earnings grow tax-free in a Roth IRA.

With a Roth IRA, you deposit after-tax money, which means you don't pay any taxes once you withdraw your funds. Plus, you're not required to take distributions at a certain age, so your money can keep growing at competitive rates.

  • Open with a $1,000 minimum deposit
  • Flexible terms ranging from 6, 12, or 18 months to 2 or 5 years
  • Interest compounded and credited to the account quarterly
  • No monthly service fees
  • Earnings are tax-free
  • Contributions are not tax-deductible

First Bank and Trust helps customers in Louisiana, Mississippi and Florida plan effectively for retirement using Roth and Traditional IRAs. Before opening an IRA, please consult your tax advisor for full details about its tax implications. Here's a snapshot of important guidelines.


  • Anyone with gross earned income below $120,000 (single) or $184,900 (married filing jointly).
  • Spouses with little or no income who file jointly are eligible for a Spousal IRA. If one spouse has little or no earned income, their combined income must be equal to or greater than the total IRA contribution for that year.

Maximum Annual Contribution

  • Individual $5,500 (or taxable compensation)
  • Married filing jointly $11,000 (up to $5,500 each)
  • If you are age 50 or over you can contribute an additional $1,000 (catch-up contribution)


Withdrawals of contributions and earnings are allowed without penalty if your Roth IRA has been open for 5 years AND one of the following applies:

  • Age 59½ or more
  • Disability or death
  • First-time home purchase ($10,000 lifetime limit)
  • Medical expenses that exceed 7.5% of your adjusted gross income
  • Payments of health insurance premiums under certain circumstances
  • Qualified higher education expense