FDIC Insurance Notice

What amount of insurance coverage do I have for my accounts?

Basic Insurance. Basic FDIC insurance has been increased from $100,000 to $250,000 permanently per depositor, according to the ownership categories, per insured financial institution. A customer can meet the requirements for coverage of more than $250,000 if he has a deposit account in different ownerships categories.

Commons ownerships categories:

• Single accounts
• Joint accounts
• Certain retirement accounts
• Corporation, partnership and unincorporated association accounts
• Certain trust accounts

Notice of Expiration of the Temporary Full FDIC Insurance Coverage for Noninterest-Bearing Transaction Accounts
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account {including an Interest on Lawyer Trust Account (IOLTA) and Interest on Lawyer Accounts (IOLA)} no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category. For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html  

What is the FDIC?

The federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government that protects you against the loss of your deposits if any FDIC-insured bank or savings association fails. There is not need to apply for FDIC insurance-coverage is automatic and backed by the full faith and credit of the U.S. government.

Where can I go if I still have questions?

You can call FDIC toll-free at 1-877-ASK-FDIC (877-275-3342) from 8:00 am until 8:00 pm (Eastern Time) or contact them online at www.fdic.gov.