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Individual Retirement Accounts (IRA's)

IRA's allow you to invest in your future or that of a loved one.

The Bank of Commerce offers several plans: Traditional, Roth, Educational (CESA) and Self Directed IRA's.


Traditional IRA

A Traditional IRA allows you to defer taxes on your earnings until they are withdrawn. Certain contributions are tax deductible* in the tax year for which they are made. Features include:

  • $100 minimum deposit.
  • The option to deposit additional funds anytime (up to the annual limit allowed by law).
  • Options for either a variable rate or fixed rate (with a longer term).
Variable rates may change after account opening. There may be a substantial penalty for early withdrawal.*Consult your tax advisor or connect to the IRS website for complete information on retirement accounts.

Roth IRA

The Roth IRA is a nondeductible account that features tax-free withdrawals for certain distribution reasons after an initial 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.* Features include:

  • $100.00 minimum deposit.
  • The option to deposit additional funds anytime (up to the annual limit allowed by law).
*Consult your tax advisor or connect to the IRS website for complete information on retirement accounts.

Coverdell Education Savings Account (Education IRA)

The Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a very specific reason - a child's education expenses. Qualified education distributions from a Coverdell Education Savings Account are penalty-free and tax-free.* Features include:

  • $100 minimum deposit.
  • The option to deposit additional funds anytime (up to the annual limit allowed by law).
*Consult your tax advisor or connect to the IRS website for complete information on retirement accounts.

Self Directed IRA's

The Bank of Commerce Trust Department can assist with your retirement plans with a Self-Directed IRA. A Self-Directed IRA allows you to choose from a variety of investments inside or outside of The Bank of Commerce. We can act as agent for your qualified retirement plan.

Types include:
  • Profit sharing.
  • 401(k).
  • Traditional IRA.
  • SEP IRA.
  • Roth IRA.
  • Simple IRA.
Non-Bank products are not FDIC insured, not guaranteed by the Bank and subject to loss of principal.

Customer Service Line

Monday-Thursday: 8am - 5pm
Friday: 8am - 6pm
Local: 208.523.2020
Toll-Free: 800.477.9193