First State Bank of Bloomington has chosen not to participate in the
FDIC’s Transaction Account Guarantee Program. Customers of First
State Bank of Bloomington with noninterest-bearing transaction accounts
will continue to be insured through December 31, 2009 for up to $250,000
under the FDIC’s general deposit insurance rules. All other deposit
accounts also continue to be FDIC insured for up to $250,000 through
December 31, 2009.
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 bank or savings 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 funds in deposit accounts, including checking
and savings accounts, money market deposit accounts and certificates
of deposit (CDs). FDIC insurance does not, however, cover other financial
products and services that insured banks may offer, such as stocks,
bonds, mutual fund shares, life insurance policies, annuities or municipal
securities.
There is no need for depositors to apply for FDIC insurance or even
to request it. Coverage is automatic.
Basic FDIC Deposit Insurance Coverage Limits
| Single Accounts (owned by one person) |
$250,000 per owner |
| Joint Accounts (two or more persons) |
$250,000 per co-owner |
| IRAs and certain other retirement accounts |
$250,000 per owner |
| Trust Accounts |
$250,000 per owner per beneficiary subject to specific
limitations and requirements |
| Corporation, Partnership and Unincorporated Association Accounts |
$250,000 per corporation, partnership or unincorporated
association |
| Employee Benefit Plan Accounts |
$250,000 for the non-contingent, ascertainable interest
of each participant |
| Government Accounts |
$250,000 per official custodian |
If you have questions about FDIC coverage
limits and requirements, visit www.myFDICinsurance.gov, call
toll-free 1-877-ASK-FDIC or ask a representative at your bank. |
