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FDIC Coverage Information

 

NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS

 

By operation of federal law, beginning January 1, 2013, funds deposited into a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account [IOLTA]) no longer will receive unlimited 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

FDIC Insurance Limits

Grandpoint Bank and its divisions, Bank of Tucson and Regents Bank, are the same FDIC-insured institution. Deposits held at Grandpoint Bank, Bank of Tucson and Regents Bank are combined when determining the $250,000 federal deposit insurance limit per depositor for each account ownership category.  
http://fdic.gov/news/news.press/2010/pr10161.html

Helpful Links

What you should know about the FDIC:
http://www.fdic.gov/deposits/depositshttp://www.myFDICinsurance.gov

 


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