CDs & IRAs

Certificates of Deposit

Concerned about stock market volatility? A CD offers safety and a guaranteed return. A CD at 1ST SUMMIT BANK is a solid investment with minimal deposit requirement. You choose the term and we will guarantee the return. Our Professionals will provide you with all the details about our special featured CDs such as, our Step Up CD and True Relationship CD. Capitalize on market trends and your existing financial relationship with competitive rates.


Plan for a comfortable retirement with a guarantee that is hard to beat.  Most of us work hard just to make a living, but we don’t always look far enough ahead to plan for a comfortable retirement. 1ST SUMMIT BANK has options for you. Our Professionals will discuss your goals and outline the possibilities. Plan now so that when you are ready to retire you can relax.

Traditional IRA

This form of IRA allows you to contribute a certain dollar amount each year of your earned income for retirement purposes. The benefit of investing in a traditional IRA include: tax-deferred earnings, and for many people, tax deductibility.*  This account also accepts rollover deposits from either another IRA or from a qualified plan distribution.

Roth IRA

A Roth IRA allows only non-deductible contributions, but features federal income tax-free withdrawals for certain distribution reasons after a five-year holding period. To be eligible you must have compensation and your modified adjusted gross income cannot exceed certain limits.

Simplified Employee Pension (SEP)

Best suited for self-employed individuals and small businesses, contributions for employees are funded by the employer.

Simple IRA Plan

For businesses with no more than 100 employees, easy to manage and funded mainly by employee salary deferrals.


For larger businesses that want to customize a retirement package. It is funded by employee contributions with the option for employers to match funds.

Profit Sharing

An option to provide a tax qualified retirement plan for your business or if you are self-employed. Profit sharing offers a great deal of flexibility and allows employees to share in the profits of the business. It is a great incentive for employees to work harder and smarter. The plan is funded by the company or business owner for the employee. You may vary the contributions from year to year.

Non-Qualified Deferred Compensation

This type of retirement plan can be offered to all of your employees or to a select group of employees/management. This plan may be in addition to those benefits provided under your qualified retirement plan. With the flexibility of a NQDC plan also comes sacrifices for both the employer and employee. 

Our Professionals are available to review your options. 

*Consult a tax advisor.