FDIC Insurance Coverage
What amount of insurance coverage does the FDIC provide?The standard deposit insurance coverage amount is $250,000 per depositor, per insured financial institution, for each account ownership category. The FDIC insures deposits that a person holds in one insured bank separately from any deposits that the person owns in another separately chartered insured bank. Funds deposited in separate branches of the same insured bank are not separately insured.
Please see Notices below for temporary rules and changes.
What products are insured by the FDIC?The lists below give you a brief overview of what FDIC insurance does and does not cover. If you would like further details, please contact us or visit www.fdic.gov.
|What is insured by the FDIC?||What is NOT insured by the FDIC?|
All deposit accounts including:
Non-deposit products such as:
How do the FDIC insurance rules apply to me?We are always happy to visit with you personally about how the FDIC's insurance coverage applies to your situation and accounts. In addition, you may find this FDIC website useful for estimating your coverage: http://www.fdic.gov/edie/index.html.
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing 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.
December 31, 2010 -- NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
December 31, 2009 -- Beginning January 1, 2010, Bruning State Bank will no longer participate in the FDIC's Transaction Account Guarantee Program. Thus, after December 31, 2009, funds held in noninterest-bearing transaction accounts will no longer be guaranteed in full under the Transaction Account Guarantee Program but will be insured under the FDIC's general deposit insurance rules explained at the top of this page.