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Germantown Trust & Savings Bank

Welcome to Germantown Trust & Savings Bank.  

For over 100 years, residents from our community have relied on the safety and soundness of Germantown Trust & Savings Bank for their financial needs.  For all those who bank with us, we appreciate your trust.  For those who are looking for a community bank, please allow us the opportunity to provide you the attention and banking service you deserve. 

Tips, Trends and Tidbits

Teaching Financial Responsibility to Today's Youth  

Whether heading off to college or out into the "Real World", it is our responsibility as parents to ensure that our children, now young adults, are equipped with the knowledge and conceptual understandings needed to succeed financially.  More often than not, instilling the concepts of financial responsibility and preparedness into the minds of our children happens naturally over time as a culmination of traditional teachings and years of "life lessons".  That being said, however, ensuring that these concepts are applied in college and/or everyday situations is often times an un-nerving and daunting task for many parents.  Follow these links for tips on helping your young adult stay on track for financial success.

Financial Tips for College Students

Financial Tips for Young Adults

Letter from the President

It's hard to believe, but it's that time of year again.  Time to say goodbye to the relaxed living of summer and return to the structure, schedule, and routines of the school year.  What a wonderful opportunity to start a new routine  -  the savings routine.  Whether you are saving for a rainy day or saving towards a more specific goal, such as your child's education, a little money put aside every payday adds up quicker than you realize.  Saving for your child's education not only provides a sense of security, but with some savings plans it can also provide tax advantages when the money is used to pay for qualified education expenses.

There are many options available when saving for your child's education.  Coverdell Education Savings Account (CESA), formerly known as Education IRAs and US savings bonds are just a couple.  The CESA is a nondeductible account that allows tax-free withdrawals for a child's education expenses.  Neither the contributor nor the beneficiary are required to pay taxes on the interest earned provided the withdrawal is for qualified higher education expenses.

Savings bonds work essentially the same way, but there are certain requirements that must be met in order for the earnings to be tax free.  The main requirements are that the bond must have been purchased after Jan 01, 1990; it must be issued in the name(s) of the taxpayer for whom the child is a dependent; the savings bond owner must be 24 years of age or older at the time of purchase; and the bonds must be redeemed during the year in which expenses are paid.  There are, however, income limitations.  For more information, please visit

Be sure to contact your tax advisor for more information on these savings plans and to determine the value of these options for your individual tax situation.

I would like to wish everyone a very successful school year and remind everyone to drive safely and be extra careful in school zones.


Dale G Deiters

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