nbkc bank Announces Participation in Kansas First-Time Home Buyer Savings Program

Enables Aspiring Homebuyers to Use its Money Market account to Save for First Home on Tax-Advantaged Basis

KANSAS CITY, Mo. (May 1, 2025) As part of its ongoing commitment to supporting homeownership, nbkc bank announced today on National New Homeowners Day that its Money Market account is now available for use under the Kansas First-Time Home Buyer Savings Account program. The program enables eligible homebuyers in Kansas to save for a home purchase while benefiting from state income tax deductions on contributions and tax-free interest earnings when used for qualified home-buying expenses.

By using nbkc’s Money Market account through The Kansas First-Time Home Buyer Savings Account program, individuals preparing to purchase their first home—or those who have not owned a home within the past three years—can save tax efficiently for their home purchase.

Eligible individuals can contribute on a tax-advantaged basis up to $3,000 per year, to a lifetime maximum of $24,000, while married couples can contribute up to $6,000 per year, to a lifetime maximum of $48,000. Contributions are deductible from Kansas adjusted gross income, and earnings on the account are exempt from Kansas state income tax when used for eligible home-buying expenses. Funds may be used toward down payments, closing costs, and other expenses associated with purchasing a primary residence in Kansas, one year after the account is established and funded.¹

“ We are pleased to participate in the Kansas First-Time Home Buyer Savings Account Program,” said Melissa Eggleston, executive, vice president and chief deposit officer of nbkc. “Our Money Market account offers program participants a competitive interest rate along with most of the features of a checking account, including no monthly fees and no minimum balance fees. We think it’s a great fit for the program and homebuyers it supports.”

Kansas State Treasurer Steven Johnson said, “nbkc has been a tremendous partner in our educational efforts around First-Time Home Buyer Savings Accounts. These tax-advantaged savings accounts can offer Kansans a great savings option in the pursuit of homeownership. Many Kansans remain unaware of the benefits of First-Time Home Buyer Savings Accounts and thanks to the commitment of marketing resources from financial institutions like nbkc, the path to homeownership can be more direct for Kansas residents.”

Participation in the Kansas First-Time Home Buyer Savings Account program is part of nbkc bank’s broader efforts to advance financial stability, expand access to homeownership and invest in the quality of life in its home market. In 2024, nbkc introduced the 'nbKC Local' program to provide down payment assistance to eligible first-time buyers and it continues to support a broad array of community initiatives across the Kansas City region.

For more information about using nbkc’s Money Market account for the Kansas First-Time Home Buyer Savings Account program, visit www.nbkc.com/kansasfirsttimehomebuyer or contact nbkc directly.

About nbkc

Having marked its 25th anniversary in 2024, nbkc is a mainstay in the Kansas City region and a diversified online banking company with a national scope. Known for combining intuitive technology and personal support to create exceptional client experiences, nbkc offers online mortgage and consumer banking nationally; community and commercial banking throughout its home region of Kansas City; and banking as a service to fintech companies across the U.S. The bank is also known for starting Fountain City Fintech, an accelerator program initiated to support fintech startups. Formed in 1999, nbkc continues to pursue its mission of leading the industry to simpler and more transparent banking.

¹You must meet certain requirements for this program and potential tax advantages, including being a qualified first-time home buyer. Maximum contribution limits, account limits, and overall contribution limits under this program apply. Use of funds are restricted for qualified purposes only after the account has been established and funded for a certain period. Failure to adequately maintain the account could result in additional taxation and penalties. Full details can be found at https://kansascash.ks.gov/homebuyer.html.

Each individual taxpayer/account holder is responsible for the maintenance, reporting, and management of these accounts in accordance with state tax and other applicable laws and regulations. nbkc bank is not responsible for designating or managing these accounts as First-Time Homebuyer Savings Accounts with the State of Kansas or any other state, or for ensuring taxpayer/account holder qualifications, eligibility, or compliance with the program. Consult your tax advisor and your state’s taxing authority for advice.