Effective July 1, 2010
First State Bank & Trust will no longer participate in the FDIC's Transaction Account Guarantee Program. As of July 1, 2010, all noninterest-bearing transaction accounts will no longer be 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.
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On July 21, 2010, The Dodd-Frank Wall Street Reform and Consumer Protection Act made permanent the current standard maximum deposit insurance amount of $250,000. The FDIC coverage limit applies per depositor, per insured depository institution, for each account ownership category.