NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE

COVERAGE FOR TRANSACTION ACCOUNTS

On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law, which, in part, permanently raised the standard maximum deposit insurance amount to $250,000. This FDIC insurance coverage limit applies per depositor, per insured depository institution, for each account ownership category. Each ownership category has specific requirements that must be met in order to receive the coverage.

Temporary Unlimited Coverage for Transaction Accounts

Under the temporary unlimited coverage for transaction accounts, all funds in a "noninterest-bearing transaction account" are fully insured by the FDIC from December 31, 2010 through December 31, 2012.

·         Traditional checking accounts;

·         Demand deposit accounts;

·         Interest on Lawyers Trust Accounts (IOLTAs).

This temporary unlimited coverage does not apply to other accounts such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.  These products continue to be insured for up to $250,000 under the FDIC’s general deposit insurance rules.

Temporary unlimited coverage is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov