Gainey Business Bancorp, Inc. & Midland Trust
Welcome to Midland Trust!
Thank you for choosing Midland as your self-directed retirement plan administrator. As a valued referral of Gainey Business Bancorp, Inc., we’d like to address key benefits and items to know when using your retirement funds to invest.
Please be aware that Midland is not affiliated, associated, authorized, endorsed by, or in any way connected to Gainey Business Bancorp, Inc., or any of its subsidiaries or affiliates. You can visit the official website for Gainey Business Bancorp, Inc. here.
What is a Self-Directed IRA and Who is Midland Trust?
Self Directed Retirement Accounts Give You the Freedom to Invest
These are not a special type of IRA. The term self-directed refers to the way the account is administered. With a SD IRA at Midland, you have a wider choice of alternative investments to help you achieve your financial goals.
Self-directed accounts can include Traditional IRAs, Roth IRAs, SEP IRAs, SIMPLE IRAs and 401(k)s. The most popular alternative assets in SD IRAs include private placements such as Private Bank Stock.
Midland is a leading custodial services provider focused on self-directed IRA accounts, 1031 exchanges, and private fund custody services. Midland is not a fiduciary and does not provide tax, legal or investment advice. Learn more about Midland.
About IRA-Owned De Novo Stocks
One of the most popular stocks in IRAs here at Midland is DeNovo Bank stocks. Typically, these are new banks that open and need investors. These are great IRA investments because they are passive. Most investors will not be involved in the day-to-day operations of the bank.
View our Private Bank Stock case studies and learn how our clients were able to take advantage of this investment type.
Purchasing De Novo Bank Stock With a Self Directed IRA
The primary benefit of purchasing De Novo bank stock in a self directed IRA is that the dividends are tax-free to the IRA. Also, all gains on the sale of the stock are tax-free.
As your IRA Custodian, Midland Trust signs the purchase documents on behalf of your IRA as the investor and funds the investment out of your IRA here. The process is fast and convenient as you review and approve the investment documents electronically via DocuSign.
De Novo stock investing with an IRA has always been popular. Clients feel they know the companies and individuals in which they are investing. De Novo bank stock can be an excellent diversification to any portfolio.
Easy, 3-Step Investment Process
STEP 1: OPEN AN IRA ACCOUNT AT MIDLAND
Complete the online application to open an IRA account at Midland. This online application will take about 10-15 minutes to complete. Before you start, we recommend having a credit card, beneficiary information, and a current retirement plan statement on hand.
STEP 2: FUND YOUR ACCOUNT
Fund your IRA account. There are three commons ways to move cash to your new IRA here:
- Rollover of an old employer plan (accounts such as 401k, TSP, 403b, etc.)
- Transfer cash from an existing IRA
- Make an IRA contribution
STEP 3: APPROVE THE INVESTMENT
Approve the investment. Midland provides a DocuSign for you to click to approve the purchase of the bank stock through your IRA. Once you are done with the DocuSign, please call (239) 900-1221 to give your verbal authorization for the outgoing wire. Your IRA will then purchase and own the bank stock in your retirement account.
FAQs: Purchasing Bank Stock with a Self-Directed IRA
Can I use my IRA to invest in a local community bank or other privately-held business?
When using my IRA to invest in bank stock, how is the ownership titled?
How are the dividends and stock sales handled in the IRA account?
Ready to Get Started?
Get started with Midland OnePath. With OnePath, you can open an account to invest in Gainey Business Bancorp, Inc. in one, easy step.
To start investing in Gainey Business Bancorp, Inc. with your IRA, click the box below.