Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts

Notice of Expiration: Temporary Unlimited Coverage for Noninterest-bearing Transaction Accounts

Pursuant to Section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), temporary unlimited deposit insurance coverage for noninterest-bearing transaction accounts (NIBTAs), including Interest on Lawyer Trust Accounts, is scheduled to expire on December 31, 2012. Absent a change in law, effective January 1, 2013, noninterest-bearing transaction accounts no longer will be insured by the FDIC as a separate ownership category. Thereafter, NIBTA deposits at an insured depository institution (IDI) will be aggregated with any other deposits held by the same person in the same ownership category, with the total insured up to the standard maximum deposit insurance amount, which currently is $250,000.

FDIC has posted frequently asked questions and answers regarding NIBTA coverage at http://www.fdic.gov/deposit/deposits/unlimited/expiration.html .

Temporary Unlimited Coverage For Non-Interest-Bearing Transaction Accounts

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.

The term ''noninterest-bearing transaction account'' includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.

For questions about FDIC coverage limits and requirements, visit: www.FDIC.gov/deposit/deposits , call toll-free 1-877-ASK-FDIC, or contact us at 510.433.5400.