Corporate Financial Management Services
Through our Trust Department, The Bank of Fayetteville offers both personal and corporate financial management services including: investments, retirement planning, estate settlement, guardianship for minors, charitable gift planning and administration, employee benefit plans and more.
A complete range of financial management options is offered, all of which are flexible and can be tailored to meet your personal needs.
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Our Trust Department handles the administration of company retirement plans. Retirement plans can be very beneficial to:
- Self-employed individuals
- Small business owners with only a few employees
- Larger businesses with several employees
Some advantages are:
- Improves ability to retain experienced employees
- Improves ability to attract more qualified employees
- Tax deductible contributions
- Future economic security for participants
Trust Officers Information
PAL - Portfolio Account Link
Portfolio Account Link (PAL) provides you with around the clock access to your trust account information.
Defined Benefit Plans
Commonly known as basic retirement or pension plans, this was the first type of plan devised by employers to provide economic security for their employees. A defined benefit plan is relatively complex to administer and changes in tax laws have reduced its appeal.
Defined Contributions Plans
Defined contribution plans provide for a fixed rate of contribution, usually determined as a percentage of an employee's earnings or a percentage of profits. Several kinds of plans fall in this broad category.
- Profit Sharing
- Money Purchase
- Employee Stock Ownership Purchase (ESOP)
- Includes design and implementation of plan
Investment of Retirement Plan Assets
- Funds in a retirement plan must be invested to ensure future benefits and security for plan participants. Generally, investment terms for retirement funds allow a wider diversification in investments to provide for long-term growth, current income to meet liquidity needs, and security. Professional management of the plan includes professional portfolio management.
- Investment products used by the Trust Department include certain nondeposit products which are not insured by the FDIC. Nondeposit products are not obligations of, or guaranteed by, the bank and are subject to investment risks, including the possible loss of the principal amount invested.