Skip to main content


Individual Retirement Accounts (IRAs)

MNB offers competitive rates on Traditional and Roth IRAs to help you reach your retirement goals. It’s never too late to get started.

Traditional IRA

  • Tax-deferred earnings
  • Contributions may be tax deductible

Roth IRA

  • Tax-deferred earnings
  • Tax-free qualified withdrawals
  • More flexible access to funds than Traditional IRA

Traditional & Roth IRA Rollovers and Transfers

  • The two methods used to move assets from one financial organization to another
  • Traditional IRA to Traditional IRA
  • Roth IRA to Roth IRA
  • This transaction is only reportable to the IRS if an IRA owner has control of the assets
We encourage you to contact a tax advisor to discuss your tax deductibility status when making retirement decisions.

IRA Comparison Chart

Feature Traditional IRA Roth IRA
Minimum Deposit $1,000 $1,000
FDIC Insured Up to $250,000 Up to $250,000
Eligible Age None None
Annual Contributions Not Required Not Required
Maximum Annual Contributions $7,000
$8,000 for those older than 50
$8,000 for those older than 50
Spousal Contributions Accepted Accepted
Contribution Due Date April 15 of next calendar year April 15 of next calendar year
Tax Consequences Tax-deferred earning. Contributions may be tax deductible. Tax-free disbursement at retirement. Contributions made with post-tax dollars.
Distributions Must begin by April 1 of the year after the participant reaches age 73 No Mandatory Disbursements

Get Started Now

Stay Informed

We'll only send things you are interested in. Never spam, promise.

* Indicates Required