Hilary Hernandez, Assistant Vice President & Branch Manager | SouthStar Bank Gonzales
Hilary Hernandez has joined the SouthStar Bank Gonzales team as an Assistant Vice President and Branch Manager. Hilary is well-versed in banking, with nearly two decades of experience in the industry, including a year spent previously with SouthStar Bank. In her role as Branch Manager, Hilary is excited to bring her passion for customer service alongside her hunger to continue learning new things. She looks forward to instituting her inclusive style of leadership and helping her team learn and develop.
Outside of work, Hilary enjoys embarking on beach vacations, shopping, hosting backyard BBQs, and having movie nights with her kiddos! One of her crowning achievements is her career in banking, as well as her journey and development throughout her 18 years in the industry.
When it comes to managing healthcare expenses and planning for the future, a Health Savings Account (HSA) offers more than just a way to pay for doctor visits. SouthStar Bank is proud to offer HSAs to our customers, as the benefits of a health savings account include several practical and financial advantages that can have a big impact on your overall financial wellness. If you’re enrolled in a high-deductible health plan, here are five major benefits of opening and contributing to an HSA.
Triple Tax Advantage
One of the most compelling reasons to contribute to an HSA is the triple tax benefit. First, contributions are tax-deductible (or pre-tax if made through payroll), which lowers your taxable income. Second, any interest or investment gains in the account grow tax-free. Third, withdrawals are tax-free when used for qualified medical expenses.
This rare combination makes HSAs one of the most tax-efficient savings tools available—more advantageous than even traditional retirement accounts like IRAs or 401(k)s when it comes to medical spending.
Funds Roll Over Year After Year
An HSA allows your unused funds to roll over indefinitely. You don’t have to worry about spending the money by the end of the year. Instead, you can let your balance grow year after year, building a cushion for future healthcare costs.
This feature makes HSAs ideal not only for short-term medical expenses but also for long-term financial planning.
You Own the Account
An HSA is yours—even if you change jobs, switch health plans, or retire. It’s not tied to your employer, which means you keep the account and the funds no matter where life takes you. That’s different from some other workplace benefits that may be lost or changed when you leave a job.
This portability gives you greater control and peace of mind, knowing your healthcare savings remain intact and accessible.
Use Funds for a Wide Range of Expenses
You can use HSA funds to pay for a long list of qualified medical expenses. This includes doctor visits, prescriptions, dental and vision care, and even certain over-the-counter medications. You can also use it to cover expenses for your spouse and dependents—even if they’re not on your health plan.
After age 65, HSA account holders can use funds for any expense—medical or not—without penalty. You’ll just pay regular income tax on non-medical withdrawals, similar to a traditional IRA or 401(k).
Flexible Contribution Options
HSAs are simple to fund and manage. You can contribute through payroll deductions (if offered by your employer), make direct deposits from your bank account, or even contribute by check. You can make contributions at any time during the year, up to the IRS annual limits. For 2025, individuals can contribute up to $4,300 and families up to $8,550.
This flexibility helps you tailor your contributions to fit your budget and financial goals, whether you’re planning for upcoming medical expenses or saving for the future.
Health Savings Accounts are more than just a way to pay for your next doctor’s visit, they’re a versatile, tax-advantaged financial tool that can help you plan for healthcare costs now and in the future. If you qualify, take advantage of the many benefits of a Health Savings Account could be one of the smartest moves you make for your financial and physical well-being.
To enhance our systems and better serve you, we will be upgrading our data center over the weekend. This necessary conversion will improve long-term reliability, security, and performance.
During the transition, our Online Banking will be in inquiry-only mode with transactions history only appearing for transactions prior to Friday, June 6th at 5:00pm. During this time, debit card limits may also be impacted. Zelle®, money transfers, and mobile deposits—will not be accessible. If you currently use your debit card for person-to-person payments apps those funds will be unavailable during this period.
The systems will be restored on Monday, June 9, 2025. We encourage you to plan ahead and appreciate your understanding as we work to bring you an even better banking experience.
Planning for retirement involves more than just saving money; it’s also about understanding how and when to access your retirement funds. SouthStar Bank proudly offers Individual Retirement Accounts (IRAs) to support your retirement goals. These accounts provide unique benefits targeted at putting you in a great position to retire when your career comes to a close. While these accounts offer several advantages, your IRA will also have withdrawal restrictions. Understanding IRA withdrawal rules and regulations is essential for avoiding penalties and maximizing the benefits of your IRA.
Before diving into the IRA withdrawal rules, it’s essential to review the two primary types of IRAs: Traditional IRAs and Roth IRAs. The rules for withdrawing funds differ depending on which one you have.
Traditional IRA: Contributions are typically tax-deductible when you make them, but withdrawals are taxed as ordinary income.
Roth IRA: Contributions are made with after-tax dollars, so you won’t pay taxes on withdrawals if certain conditions are met.
A crucial milestone for both Traditional and Roth IRAs is reaching the age of 59½. Once you reach this age, you can withdraw from your IRA without facing the IRS’s 10% early withdrawal penalty. However, some specific nuances depend on the type of IRA.
Traditional IRA Withdrawal Rules
As mentioned previously, contributions made to Traditional IRAs are tax-deductible. This means that withdrawals made after the age of 59½ won’t be penalized but will be subject to income tax unless you’ve made non-deductible contributions to your account. The IRS mandates that you start taking Required Minimum Distributions (RMDs) from your Traditional IRA at age 73.
Roth IRA Withdrawal Rules
For Roth IRAs, the rules are a bit more flexible. You can withdraw your contributions at any time (after the age of 59½), tax and penalty-free, since those contributions were made with after-tax dollars. However, to withdraw earnings without taxes or penalties, you must meet two conditions:
You must be at least 59½ years old.
Your Roth IRA must have been open for at least five years.
If you withdraw earnings before meeting these requirements, they could be subject to taxes and a 10% penalty.
Required Minimum Distributions (RMDs)
As mentioned, Traditional IRAs require RMDs starting at age 73. These are the minimum amounts you must withdraw each year, which are based on your account balance and life expectancy. Roth IRAs, however, do not require RMDs during the account holder’s lifetime, making them an attractive option for those who want to leave their IRA funds to heirs.
The 10% Early Withdrawal Penalty
If you need to access your IRA funds before age 59½, you’ll generally face a 10% early withdrawal penalty. However, there are several exceptions to this rule. Some of the most common exceptions for both Traditional and Roth IRAs include:
Disability
First-time home purchase (up to $10,000)
Qualified education expenses
Medical expenses exceeding 7.5% of your adjusted gross income
Health insurance premiums during unemployment
It’s essential to check whether your specific situation qualifies for an exception before making an early withdrawal.
Planning Ahead
Understanding the rules surrounding IRA withdrawals is essential for making informed decisions about your retirement. While the 59½ and 73 age milestones are key, planning for taxes and RMDs ahead of time can help you avoid unnecessary penalties.
Have more questions regarding IRA withdrawals or looking to open an IRA to kickstart your retirement? Contact your local SouthStar Bank branch or reach out to our IRA experts at IRA@southstarbank.com.
May is National Small Business Month! As a small business owner, utilizing the excellent resources designed to help your business thrive and grow is essential. The links below provide information on various programs and resources offered by several different organizations.
The U.S. Chamber of Commerce offers many resources for Small Businesses. Explore 18 various resources targeted at your needs!
The Small Business Administration (SBA) provides a wealth of resources designed for businesses just getting started to businesses that have been around for decades! The SBA also provides funding for businesses. SouthStar Bank is a preferred SBA lender. Contact your local branch for more details!
The Texas Governor’s Office of Small Business Assistance assists small and medium Texas businesses through advocacy, entrepreneurial support, education, and technical assistance.
Ryan Ezzell, Personal Banker | SouthStar Bank Steiner Ranch
Ryan Ezzell has joined the SouthStar Bank Steiner Ranch team as a Personal Banker. Ryan is a recent graduate of Texas State University and is excited to start his career in the banking industry. He looks forward to developing professionally in his new role while contributing to the bank’s goals and connecting with his customers.
Outside of work, Ryan enjoys reading, running, and playing card games. He also enjoys traveling to Colorado and Hawaii, spending time sharpening his skills skiing the slopes in the winter and getting out to roller skate in the warmer months.
