The State Central Bank Trust Department helps you achieve your financial objectives. We have the expertise to implement your financial plans and to invest your assets as you direct. If you have not yet established a solid plan for your financial future, we welcome you to consult the friendly staff on our wealth management team. We can provide you with planning tools necessary for the accumulation, preservation, and transfer of your wealth.
Managed Investment Account - Allows State Central Bank Investment Managers to make investment decisions on your behalf in Trusts, Agencies and IRAs. Those investments may range from stocks, bonds, mutual funds and certificates of deposit. Every buy or sell decision represents your Investment Manager's informed judgment of the best course of action to match your investment objectives. A regular report keeps you up to date with your investment position. The Trust Department does the complex bookkeeping and recordkeeping, too.
Self Directed Accounts - If you already manage your own diverse assets such as mutual funds, stocks, and bonds in an investment account or in an IRA, the bookkeeping requirements can be complex. In a self directed account, State Central Bank does not provide investment guidance but carries out buys and sells according to your direction. You can execute your own investment strategies while avoiding routine investment chores (e.g., protecting securities from fire and theft, collect called or matured bonds, selling or exercising stock rights, remitting income, etc.)
Employee Benefit Plans - The Trust Department serves as Trustee for several employee benefit plans--both 401(k) and Profit Sharing Plans. The Trust Department also provides investment services to some Employee Benefit Plans without serving as Trustee. The State Central Bank Employee Benefit Investment Committee meets quarterly to review the investment menus it has created for 401(k) plan participants to see if the investments meet the proper criteria. Along with experienced professional administrators, the Trust Department stands ready to answer questions from both participants and employers about this critical piece of retirement planning.
401(k) Rollovers and IRAs - The State Central Bank Trust Department can help you "roll over" your 401(k) into either a managed or self directed IRA or we can help you start an IRA to help fund your retirement. We help you fill out the paperwork and get the assets transferred and provide regular reports along with updates on the ever changing IRA rules and regulations. We process both contributions and distributions to IRAs. We also provide helpful reminders to our IRA customers about the IRS mandate for Required Minimum Distributions. When it is time for those distributions to be made, we perform the calculations and make the distributions directly to you through the Trust Department - we even handle any tax withholding for you.
Estate Planning - Assures that upon your death, your estate is handled in a fashion you've designed in advance. Estate planning strategies help avoid a lengthy probate process; minimize estate taxes owed by survivors; let's you dictate how assets of your estate (cash/business) will be managed; and set conditions of future disbursements.
Living Trust - A living trust gives you full access to your assets for you now or during your lifetime, but allows an appointed trustee, such as the bank, to manage assets if you become incapacitated and if you like, to manage your investments. With a living trust, our bank can provide support for you and your dependents as much or as little as you need.
Charitable Trust - Provides for charitable giving AND generates income either for you or the charity. As your trustee, State Central Bank invests the assets which can grow tax-free.
Executorship - Settling even a simple estate can be complex and time consuming-and require investment and tax law expertise. We can help you avoid placing that burden on a family member. As executor of your will, State Central Bank will see that your wishes are carried out and that beneficiaries receive personal attention throughout the administration of your estate.
Conservatorship - This is a court supervised account for people who are legally unable to manage their own financial matters while living, such a minor.
A conservatorship saves family members the burden of balancing monthly payments; check writing, recordkeeping and shopping for the best investments and interest rates. The Trust Department manages the investments and pays all bills out of the conservatorship account.
*Disclosures: Investments are not insured by the FDIC; are not a deposit or other obligation of the bank and are not guaranteed by the bank; and are subject to investment risk, including the possible loss of the principal amount invested.