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FDIC Insurance


The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for at least $250,000.00; by identifying, monitoring, and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails.

An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920's and early 1930's. Since the start of FDIC insurance on January 1, 1934, no depositor has lost a single cent of insured funds as a result of a failure.

The FDIC receives no Congressional appropriations - it is funded by the premiums that banks and thrift institutions pay for deposit insurance coverage and from the earnings on investments in U.S. Treasury securities. The FDIC insures more than $4 trillion of deposits in U.S. banks and thrifts - deposits in virtually every bank and thrift in the country.

Savings, checking, and other deposit accounts, when combined, are generally insured to $250,000.00 per depositor in each bank or thrift the FDIC insures. Deposits held in different categories of ownership - such as single or joint accounts - may be separately insured. The FDIC Electronic Deposit Insurance Estimator can help you determine if you have adequate deposit insurance for your accounts.

FDIC Calculator: www.fdic.gov/edie

Please contact any of your First National Bank branch offices or call 419-629-2761 if you need additional information about FDIC Insurance.

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