Farmers National Bank

Direct Deposit Checking
This checking account is for customers who receive monthly direct deposit transactions to their account. The direct deposit checking account has no minimum balance requirements and no per check charge. This account requires a $25 minimum opening deposit.

Value Checking
A checking account for customers who write a minimal amount of checks per month and want the convenience of no minimum balance. This account requires a $25 minimum opening deposit.

Regular Checking
Regular checking is a safe and convenient way to save and disburse money while maintaining record of the transactions. Customers may deposit cash or checks into their checking account. Some checks that are deposited may not be available until they are collected or cleared. Withdrawals are made by writing checks or using an ATM/Debit card. This account carries a $25 minimum opening deposit and $300 minimum balance requirement.

NOW Checking
A NOW checking account provides customers with a safe, convenient, interest bearing checking account used to save and disburse money while maintaining records of financial transactions. Interest is paid on these accounts which are generally intended for customers who maintain moderately high checking account balances. This account carries a $500 minimum opening deposit and $500 minimum balance requirement.

Money Market Account
This account allows the customers to earn money market interest rates on their funds. Customers may make unlimited transfers and withdrawals if made in person, by messenger, by mail or at an ATM. Federal regulations otherwise limit the number of debit transactions to six (6) per month. This account carries a $1,000 minimum opening deposit and $1,000 minimum balance requirement.

Maximum Yield Money Market
This account allows customers to earn money market interest rates on a tiered basis on their funds. Customers may make unlimited transfers and withdrawals if made in person, by messenger, by mail or at an ATM. This account carries a $2,500 minimum opening deposit and $2,500 minimum balance requirement.

Classic Club
The Classic Club Account is an interest-bearing checking account with additional features and benefits wrapped in a package. While enjoying the benefits of the package the accountholder must maintain a minimum aggregate deposit balance with Farmers National Bank of $10,000. Classic Club members will enjoy many benefits such as, a safe deposit box, no-charge travelers checks, free checks and more. This deposit requires a $25 minimum opening deposit.

Classic Club Plus
Like the Classic Club Account, Classic Club Plus is an interest-bearing account with features and benefits wrapped in a package. The Classic Club Plus offers the same benefits and features, plus more with a few key differences such as, preferred CD rates, automobile loan discounts, and travel discounts. While enjoying the benefits of this package the Classic Club Plus member must maintain a minimum aggregate deposit balance with Farmers National Bank of $20,000. This account requires a $25 minimum opening deposit.

Senior Classic Club
The Senior Classic Club Checking Products are for those accountholders who are 62 or older. Those customers may choose either an interest-bearing NOW Account, which will require that an average daily balance of $500 be maintained or a regular checking, which will not have any balance requirements. Whatever the checking account method chosen the customer must maintain a minimum aggregate deposit balance with Farmers National Bank of $2,500. Senior Classic Club members will enjoy many benefits such as travelers checks, an ATM/Debit Card, etc. Senior Classic Club accounts require a $25 minimum opening deposit.

Business Checking
Business checking accounts provide corporations, sole proprietorships, partnerships and other business entities a “record based” method through which they may accumulate their receipts and disburse their payments. This account carries a $25 minimum opening deposit and $500 minimum balance requirement.

Analysis Checking
The Account Analysis program provides a customer with a statement that summarizes the account balance, services provided, earnings credit, as well as much more.

Statement Savings
A Statement Savings Account is an account for those customers who wish to save excess funds and earn interest. The account is often opened for specific purposes such as education, home improvements, down payments on homes or cars, and many other financial goals. Statement Savings accounts require a $5 minimum opening deposit.

Passbook Savings
A Passbook Savings Account is an account for those customers who wish to save excess funds and earn interest. The account is often opened for specific purposes such as education, home improvements, down payments on homes or cars, and many other financial goals. It can also be used for a rainy day fund or an account for minor children. Passbook Savings accounts require a $5 minimum opening deposit.

Christmas Club
Christmas Club Accounts are special savings accounts offered to the customer to encourage him or her to make periodic deposits to be used for expenditures at Christmas. The minimum opening deposit amount for Christmas Clubs is $1.

Certificates of Deposit
Certificates of Deposit provide customers with a higher rate of interest on their funds than savings accounts. They are intended for depositors who can “invest” monies for a period of time. The interest rates are subject to change weekly, but, once the CD is purchased, the interest rate on that certificate is guaranteed for its term. A penalty may be assessed if any of the principal is withdrawn prior to the maturity date. The minimum deposit to open a CD is $500. Terms range from 3 months to 84 months. Interest will be compounded quarterly. Customers also have the option of receiving their interest by direct deposit or by check depending on the term and the amount of the certificate.

Individual Retirement Account (Traditional)
An Individual Retirement Account (IRA) is an IRS-approved retirement plan with special tax benefits and privileges that may save the customer on taxes now and provide significant income after he or she retires.

Individual Retirement Account - Simplified Employee Pension (SEP-IRA)
The Simplified Employee Pension (SEP) Account is an Individual Retirement Account created by an employer to provide retirement funds for his or her employees. A SEP-IRA may be established by any type of employer (sole proprietor, partnership, and corporation). All amounts contributed to the account by the employer belong to the employee.

Individual Retirement Account - (ROTH)
The Roth IRA is non-deductible Individual Retirement Account that offers tax-deferred earnings and tax-free distributions. This allows customer’s earnings to grow at a much faster pace than with taxable investments. Also, the customer may receive TAX-FREE distributions after five years, if qualified.

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