Wealth Management

Managing your wealth is a necessity at nearly any stage in life. At Peoples Bank & Trust, our knowledgeable staff is here to provide one-on-one guidance to determine the most beneficial steps. From a large selection in our trust department, health-related accounts, retirement plans and more – we’re here to serve the needs of you and your family. Working with your individual Consumer Banker, you will rest assured that the plans in place will provide the most beneficial overall.

Certificates of Deposit

The Consumer and Business Bankers at Peoples Bank & Trust will work with investors looking for a typically low-risk investment by offering a variety of certificates of deposit (CDs). Our multiple products offer competitive, tiered rates and can be short or long-term. The CDs are FDIC insured and customers can choose different options to have funds available at different times. Many of our banking customers are qualified to pursue this type of investment. Below you will find product features on the different types of certificate of deposits at Peoples Bank & Trust. Call your Consumer or Business Bankers today to obtain rate information.

Short Term Certificates of Deposit Long Term Certificates of Deposit
  • 30 days to 1 year
  • Minimum $1,000 to open
  • Variety of payment methods available including: direct deposit, check payments or your interest can be capitalized back to your Certificate of Deposit
  • Interest payments made monthly, quarterly, semi-annually, or at maturity
  • CD’s can be used as collateral for loans
  • Penalty for early withdrawal of funds-penalty assessed on the amount of the withdrawal only, interest penalty varies by CD term
  • 1 year to 5 years
  • Minimum $1,000 to open
  • Variety of payment methods available including: direct deposit, check payments or your interest can be capitalized back to your Certificate of Deposit
  • Interest payments made monthly, quarterly, semi-annually, or annually
  • CD’s can be used as collateral for loans
  • Penalty for early withdrawal of funds-penalty assessed on the amount of the withdrawal only, interest penalty varies by CD term
Easy Builder Certificate of Deposit
  • 1 year maturity
  • Minimum $100 to open
  • Deposits can be made weekly, monthly or at your convenience
  • Variety of payment methods available including: direct deposit, check payments or your interest can be capitalized back to your Certificate of Deposit
  • Interest payments made monthly, quarterly, semi-annually, or at maturity
  • CD’s can be used as collateral for loans
  • Penalty for early withdrawal of funds-penalty assessed on the amount of the withdrawal only, interest penalty varies by CD term

Individual Retirement Account (IRA)

It’s never too early – or late - to begin planning for the future. Peoples Bank & Trust offers multiple Individual Retirement Accounts (IRAs) depending on your particular needs. Whether you’re prepared to start contributing to a Roth or Traditional IRA or needing to pave the way to begin doing so, your Consumer Banker is prepared to show you how. Our IRAs have product features such as tax deferment of interest, earnings are tax-exempt and flexible terms tailored to you needs. Call us today to start exploring the best option for your future plans.

Roth IRA Certificate of Deposit Traditional IRA Certificate of Deposit
  • 182 days to 5 year
  • Minimum $1,000 to open
  • Earnings are federally tax free
  • Penalty for early withdrawal of funds-penalty assessed on the amount of the withdrawal only, interest penalty varies by CD term
  • 182 days to 5 years
  • Minimum $1,000 to open
  • Contributions may be deductible on your income tax return (consult your tax advisor)
  • Interest grows tax free
  • Penalty for early withdrawal of funds-penalty assessed on the amount of the withdrawal only, interest penalty varies by CD term
Easy Builder Roth Certificate of Deposit Easy Builder Traditional Certificate of Deposit
  • 1 year maturity
  • Minimum $100 to open
  • Deposits can be made weekly, monthly or at your convenience
  • Earnings are federally tax free
  • Penalty for early withdrawal of funds-penalty assessed on the amount of the withdrawal only, interest penalty varies by CD term
  • 1 year maturity
  • Minimum $100 to open
  • Deposits can be made weekly, monthly or at your convenience
  • Contributions may be deductible on your income tax return (consult your tax advisor)
  • Interest grows tax free
  • Penalty for early withdrawal of funds-penalty assessed on the amount of the withdrawal only, interest penalty varies by CD term

Health Savings Account

Our Health Savings Account (HSA) gives you the opportunity to offset your insurance plan deductible by paying for routine medical services and medical supplies not covered by your insurance company. You own and control the money in your HSA account so funds are never lost.

  • Tax benefits- earnings are tax free
  • Contributions by employer or employee are tax deductible even if you don’t itemize your deductions
  • Interest is tax deferred
  • Qualified distributions are tax free

Trust Services

Peoples Bank & Trust offers a full-service trust department and your Consumer and Business Bankers will work to determine which suits your situation best. For our consumer banking customers, establishing a trust is about looking to primarily control your assets in the present and plan for those assets in the future. Whether you’re looking for a scholarship or memorial trust, land trust, education fund or others, our planners will be sure your particular situation is tended to, based on your specifications. Call us today to be prepared and plan for you and your family’s future.

What is a Trust?

A trust is a legal arrangement in which an individual (the trustor) gives fiduciary control of property to a person or institution (the trustee) for the benefit of beneficiaries. The trustee administers the assets according to the instructions in the written trust document. A properly drafted trust, a legal arrangement drafted by an attorney that transfers property to a trustee, may be a critical tool in estate planning.

Our comprehensive trust administration services include:

  • Living Trusts

A living trust is established by an individual to secure assets during their lifetime, while benefiting from the investment management provided by the Peoples Bank & Trust. Under this type of trust agreement, Peoples Bank & Trust, Trust Services take possession of securities, ensure their safety, and handle the management and administration of any investments. A Living Trust can provide protection for an individual in the event of a disability, allowing for payment of any bills and the protection of assets without a court-appointed guardian. The trust can also extend beyond the maker's lifetime, providing financial security for his or her family.

  • Trusts established by Will

Wills can also require the management of funds over an extended period of time, through the establishment of a testamentary trust. These trusts, established through a will, can be structured to ensure the support and security of the decedent's family, usually with significant tax savings

Another role assumed by the Trust Department is functioning in a Guardianship capacity. Appointed by the court, Peoples Bank & Trust ensures the financial well-being of those who are unable to handle their personal financial affairs. In many cases, this service provides the only recourse for family members entrusted with the care of a relative and separated by geographic distance.

Such trust may provide you with tax benefits, a source of income, and comfort in the knowledge that your charitable goals will be reached.  If you are planning a sizeable gift to your favorite charity or school, Peoples Bank & Trust can guide you through the process.           

A revocable living trust primarily used to hold title to real estate for privacy and anonymity.  If this is a service that you need, Peoples Bank & Trust can help.

Naming an executor for your estate is not the simple task. With the complexity of today's tax and estate laws, a tremendous responsibility awaits anyone named as an executor who does not possess the knowledge and skills to handle the decedent's affairs. Peoples Bank & Trust can professionally manage these varied tasks.

For more information on our Trust Services, please contact a member of our Trust Department.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

Wayne Hummer Investments

Peoples Bank & Trust is proud to suggest the services of Wayne Hummer Investments to our customers looking for a full service brokerage firm. Your consumer banker will help connect you to the right professional willing to provide the valuable information you need for investments, trusts, insurance and more. Contact your Consumer and Business Banker today for more information to get started with the services of Wayne Hummer Investments.

Member FINRA/SIPC

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE