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FDIC
Calculate your insurance coverage using the FDIC's online Electronic Deposit Insurance Estimator at: www2.fdic.gov/edie
$250,000 Deposit Coverage Extended
Deposits at FDIC-insured institutions like First National Bank of Crossett are now insured up to at least $250,000 per depositor through December 31, 2013. According to Eddie Holt, First National Bank’s President and CEO, the FDIC has announced that the 2013 date supersedes the 2008 changes which extended FDIC coverage from $100,000 to $250,000 only through the end of 2009. With the latest regulatory revision, coverage will remain at $250,000 for accounts – including those held by individuals, corporations, partnerships, limited liability companies, and municipalities – until January 1, 2014, when the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts (which will remain at $250,000 per depositor).
Holt commented, “This additional move toward economic recovery is a great opportunity for people to achieve maximum coverage and security for their deposits. It’s an especially great time for Certificates of Deposit and other FDIC insured accounts which offer both security and interest income. We have seen a lot of customers coming in looking for the reliability of traditional savings products over the past several months, and this extension of the FDIC insurance will certainly create another boost of consumer confidence in the economy.”