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FDIC News

New FDIC Deposit Insurance Limits - Effective July 21, 2010, the standard FDIC insurance coverage was permanently raised to $250,000 per depositor. We strongly encourage all bank depositors who have questions about their insurance coverage to go to FDIC's website at www.fdic.gov for further information and to use their Electronic Deposit Insurance Estimator (EDIE).


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) 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