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FDIC Transaction Account Guarantee Program
First National Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2009, all noninterest-bearing transaction accounts 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.
ADDITIONAL INCREASED INSURANCE COVERAGE
FDIC provides separate insurance coverage for deposits held in different categories of ownership. You may qualify for more than $250,000 in coverage through a combination of First National Bank accounts. The most common ownership categories are:
- Single Accounts
- Certain Retirement Accounts
- Joint Accounts
- Revocable Trust Accounts
BASIC INSURANCE COVERAGE
Deposits maintained in different categories of ownership can also be separately insured. Therefore, it is possible to have deposits of more than $250,000 at one insured bank and still be fully insured. Please see your FNB new accounts representative to discuss the 8 ownership categories recognized by FDIC regulations and the requirements that must be met to have coverage beyond the basic $250,000 amount.
The following accounts ARE COVERED by FDIC insurance:
- Checking accounts
- Savings accounts
- Money Market Deposit accounts
- Certificate of Deposits
- Individual or Self directed Retirement Accounts
- Official Checks More Info
Official Checks
Collectively, the following instruments are referred to as
"official checks" This includes Cashier’s checks, officers’
checks, expense checks, loan disbursement checks, interest
checks, outstanding drafts, negotiable instruments and money
orders drawn on the institution are also considered deposits
and protected by FDIC. Certified checks, letters of credit,
and Traveler’s checks, for which an insured depository institution
is primarily liable, also are insured when issued in exchange
for money or its equivalent, or for a charge against a deposit account.
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The following products or accounts types
ARE NOT COVERED by FDIC insurance:
- Safe Deposit Box Contents
- Loss of deposits by fire, theft or fraud
- Stock and Bonds
- U.S. Treasury Bills, Bonds and Notes
- Mutual Funds
- Life Insurance Policies
- Municipal Securities and Bonds
- Annuities
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*Accrued interest applicable only to interest bearing accounts.
FDIC RESCOURCES
If you need assistance in styling your accounts so they are fully insured or want to learn more about FDIC coverage, please visit your nearest FNB branch location or call FDIC toll free at 1-877-ASKFDIC (1-877-275-3342) or visit www.fdic.gov.
The following links are excellent resources to learn more about FDIC coverage.
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