Your accounts are benefiting from increased Federal Deposit Insurance Corporation (FDIC) insurance. Here's how…
Increased from $100,000 to $250,000
New Deposit Insurance Limits - The standard insurance amount of $250,000 per depositor has been extended through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.
Transaction Account Guarantee Program
First Business Bank is participating in the FDIC's Transaction Account Guarantee Program. Through December 31, 2010, all noninterest- bearing transaction accounts as well as interest-bearing NOW accounts earning an interest rate of no higher than .25% are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules and are fully guaranteed by the FDIC for the entire amount in the account.
- Note: The unlimited FDIC deposit insurance coverage for non-interest bearing transaction and interest-bearing NOW accounts earning an interest rate of no higher than .25% may not be applicable to accounts with a sweep feature.
