TAG Deposit Insurance Extended Through December 31, 2010
Transaction Account Guarantee Program
Town North Bank is participating in the FDIC’s Transaction Account 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. Accounts considered non interest-bearing
include:
- All personal and business checking deposit accounts that do not earn interest
- Interest on Lawyers Trust Accounts (“IOLTAs”)
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.