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First National Bank in Howell is participating in the FDIC's Transaction Guarantee Program. Under
that program, through December 31, 2010, all non interest-bearing transaction accounts are fully
guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction
Guarantee Program is in addition to and separate from the coverage available under the FDIC's
general deposit insurance rules.
YOUR DEPOSITS ARE NOW INSURED TO AT LEAST $250,000
On May 20th President Obama signed legislation extending the increase in deposit insurance through 2013. Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, 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. This supersedes the original Emergency Economic Stabilization Act of 2008, which took effect last October.
Basic FDIC Deposit Insurance Coverage Limits*
| Single Accounts (owned by one person) | $250,000 per owner** |
| Joint Accounts (two or more persons) | $250,000 per co-owner** |
| IRAs and certain other retirement accounts | $250,000 per owner |
| Trust Accounts | $250,000 per owner per beneficiary subject to specific limitations and requirements** |
*These deposit insurance coverage limits refer to the total of all deposits that an accountholder (or accountholders) has at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.
**On January 1, 2014, the standard coverage limit will return to $100,000 for all deposit categories except IRAs and Certain Retirement Accounts, which will continue to be insured up to $250,000 per owner.
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