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FDIC INSURANCE COVERAGE 

FDIC deposit insurance coverage depends on two things: (1) whether your chosen financial product is a deposit product; and (2) whether your bank is FDIC-insured.

THE FDIC COVERS

Checking accounts, Negotiable Order of Withdrawals (NOW) accounts, Savings accounts, Money Market Deposit accounts (MMDAs), Time Deposits such as certificates of deposit (CDs), and Cashier's checks, money orders, and other official items issued by a bank.

THE FDIC DOES NOT COVER

Stock investments, Bond investments, Mutual funds, Life insurance policies, Annuities, Municipal securities, Safe deposit boxes or their contents and U.S. Treasury bills, bonds or notes.

Depositors do not need to apply for FDIC insurance. Coverage is automatic whenever a deposit account is opened at an FDIC-insured bank or financial institution.  If you are interested in FDIC deposit insurance coverage, simply make sure you are placing your funds in a deposit product at the bank.

COVERAGE LIMITS

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.  The FDIC provides separate coverage for deposits held in different account ownership categories.  Depositors may qualify for coverage over $250,000 if they have funds in different ownership categories and all FDIC requirements are met.  All deposits that an accountholder has in the same ownership category at the same bank are added together and insured up to the standard insurance amount.

For more information about FDIC insurance coverage, visit www.fdic.gov

 

Member FDIC Equal Housing Lender