Our Trust Department is comprised of professional individuals trained to help you manage your investments. We offer a broad range of trust and custody services to individuals just like you. Our team of experts will work together to provide the financial service and the personal attention that you expect. Please Contact Us today for more information. 
 
 
Here is some information on the services we provide:  
Custodial Accounts                                   Coverdell Education Savings Accounts 
Management Accounts                             Estates 
IRAs - Traditional and Roth                      Escrow Services 
Trust Services                                            1031 Like-Kind Exchanges 
Guardianships 
 
 
Custodial Accounts 
This account type gives investors complete control of their investments decisions without the headache of handling the paperwork.  
  • Ability to choose different types of investments such as mutual funds, stocks, government securities, or certificates of deposit
  • Diversify and change your  investments as often as you choose to optimize your return
  • We provide various bookkeeping services, including:
  • o periodic consolidated statements 
    o collection and distribution of income 
    o details of purchases and sales of securities 
    o notification of all transactions 
    o year-end tax information 
     
     
    Management Accounts 
    This account type is for investors who may not have the time or expertise to manage their own investments.  
  • We assist you in the design and implementation of an investment portfolio based on your goals and objectives.
  • We follow an investment strategy designed according to your investment style, goals, and tolerance for risk
  • We provide various bookkeeping services, including:
  • o periodic consolidated statements 
    o collection and distribution of income 
    o details of purchases and sales of securities 
    o notification of all transactions 
    o year-end tax information 
     
     
     
    Individual Retirement Account (IRA) 
    An IRA is one of the best ways to build wealth and save for retirement. Established by Congress, they encourage people to save for retirement so they will not have to rely on Social Security and employer retirement plans as their sole source of retirement income. 
    Traditional IRA 
  • Tax-deferred retirement savings
  • o  Contributions may not be tax deferred depending on how much you earn 
         and whether you also participate in an employer-sponsored retirement plan 
  • IRA owner must have earnings from employment to make contributions
  • Contribution Limits:
  •                               Tax Year Under Age 50     Age 50 and Over 
                                     2016                      $5,500                     $6,500  
                   2017                 $5,500                     $6,500  
    Roth IRA 
  • Contributions are not tax-deductible
  • Growth is tax-free
  • Qualified distributions are tax-free
  • IRA owner must have earnings from employment to make contributions
  • Contribution Limits:
  •                               Tax Year                 Under Age 50        Age 50 and Over 
                                    2016                    $5,500                     $6,500  
                    2017                         $5,500                     $6,500  
     
     
    Trust Services 
    This service helps protect and transfer your assets while giving you flexibility in how you use and disburse them both while living and after death. We help structure and manage the administration, including Living, Testamentary, Revocable, and Irrevocable Trusts. Because a trust is a legal arrangement, we (the trustee) are able to hold and manage property you place in trust strictly for the benefit of you and your beneficiaries. 
  • Control your current and future finances
  • Meet arranged goals such as:
  • o Financing your children’s educations 
    o Supporting an elderly relative 
    o Making charitable bequests 
    o Saving on estate taxes 
    o Managing your assets if you are disabled 
    o Providing investment management for your family after your death 
     
     
    Guardianships 
    Court-ordered guardianships protect the estates of those who are unable to handle their own financial responsibilities, typically children or disabled adults.  
  • We administer funds to ensure financial needs are met until the customer reaches a legal age or, in the case of special children and disabled adults, for the rest of their lives.
  • As an experienced provider of impartial guardianship services, we provide services such as:
  • o Payment of bills and ongoing expenses 
    o Determining overall cash flow requirements and living expenses 
    o Establishing a monthly budget 
    o Investing and managing all assets, including real estate 
     
     
    Coverdell Education Savings Account (CESA) 
    This special trust account is designed to accumulate funds for a minor to be used primarily for educational expenses.  
  • Annual contribution limit of $2,000 per beneficiary form all contributors
  • Not tax-deductible, however distributions can be excluded from the income of the beneficiary if the amount does not exceed qualified expenses of the student.
  • Contributions can be made by an unrelated individual
  • Designated beneficiary can generally be changed without consequence if both beneficiaries are in the same family.
  • Qualified expenses include elementary, secondary, and post-secondary education expenses at an eligible educational institution.
  •  
     
    Estates 
    Estates are comprised of all the assets and individual possesses at the time of death. By designating us as executor of your will or as agent for the named executor or trustee, we can relieve the appointed person from the tedious duties of which they are charged. 
  • We are experienced in winding-up the deceased individual’s finances so the estate may be settled.
  • We are prepared for the:
  • o Safeguarding of your assets 
    o Collection of income 
    o Investment of funds 
    o Filling out required reports and tax returns 
     
     
    Escrow Services 
    We can serve as an independent third-party to hold money or other property in situations where an independent third-party is needed. 
     
     
    1031 Like Kind Exchanges 
    When you and your tax consultant have decided that a 1031 tax-deferred like kind exchange is best for you, we will see to it that the transaction proceeds according to your plan. 
  • Used to defer gain or loss on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged for similar property.
  • As a Qualified Intermediary, we prepare the exchange agreement and provide you with forms and reminder letters to simplify the process.
  •  
     
    Meet Our Team 
     
    Hal Pennington 
    EVP/Senior Trust Officer 
    Email Hal 
    With 36 years of Trust and Investment experience, Hal manages our department. This Duncan resident is also active in the community including membership in Duncan Rotary, Leadership Oklahoma, the Oklahoma Bar Association, and Duncan Public School Bond Advisory Committee. You can email Hal or visit him in the upstairs Trust Department located in our Duncan Main Banking Center. 
     
     
    Craig Heaton 
    VP/ Trust Officer 
    Email Craig 
    With 32 years of banking experience, the last 12 of those spent in Trust and Investments, this OU Alumni specializes in Business Development and Retirement Plans. Email Craig with your business and retirement questions, stop by to see him in our Norman 36th Banking Center, or just catch him at the Norman Rotary Club. He is always ready with advice to take you to the next level. 
     
     
    Lynnette Irwin 
    VP/ Trust Officer 
    Email Lynnette 
    This life-long Duncan resident has over 30 years experience working in Trust. Lynnette has worked at many banks, but we are glad she has finally settled with our First Bank & Trust Co. family, heading up our Trust Department operations in our Duncan Main Banking Center.  
     
     
    Janetta Hall 
    CDAR/ Trust Assistant 
    Email Janetta 
    With 16 years of banking experience, this life-long Stephens County resident specializes in certificates of deposit. Please email Janetta with any questions you may have or stop by to see her in the upstairs Trust Department located in our Duncan Main Banking Center. 
     
     
     
    Non-deposit investment products are not insured by the FDIC; non-deposit 
    investment products are not obligations of, or guaranteed by, the financial institution; 
    and non-deposit investments will subject the purchaser to investment risk, 
    including possible loss of the principal amount invested. 


    FDIC
    DISCLAIMER: This business is not responsible for and has no control over the subject matter, content, information, or graphics when viewing links attached to this website.