Important Information on Full FDIC Insurance Coverage

Full FDIC Insurance Coverage for Non-Interest Bearing Transaction Accounts will expire December 31, 2012. Beginning January 1, 2013, noninterest-bearing transaction accounts will no longer be insured separately from depositors’ other accounts at the same FDIC insured depository institution (IDI).  Instead, noninterest-bearing transaction accounts will be added to any of a depositor’s other accounts in the applicable ownership category, and the aggregate balance insured up to at least the Standard Maximum Deposit Insurance Amount (SMDIA) of $250,000, per depositor, at each separately chartered IDI.

For example, if after the expiration of the Dodd-Frank Deposit Insurance Provision, a depositor under the single ownership category has $500,000 deposited in a noninterest-bearing transaction account and $250,000 deposited in a certificate of deposit, or total deposits of $750,000, the depositor would be insured for up to $250,000 and uninsured for the remaining balance of $500,000.

Depositors should be made aware that Section 335 of the Dodd-Frank Act permanently increases the SMDIA to $250,000 for each deposit ownership category. For more information, go to the FDIC website at