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FDIC EXTENDS INCREASED DEPOSIT INSURANCE COVERAGE

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured institution, such as a bank or savings and loan association, fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds. FDIC insurance covers all deposit accounts, including checking and savings accounts, money market accounts and certificates of deposit.

The basic limits* of FDIC deposit insurance coverage are:

Single Accounts (owned by one person) $250,000 per owner
Joint Accounts (two or more persons) $250,000 per owner
Trust Accounts $250,000 per beneficiary, subject to specific limitations and requirements.
IRA's and certain other retirement accounts $250,000 per owner.

*refers to the total of all deposits that an account holder(s) has at each FDIC insured bank

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 noninterestbearing 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

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