Now you no longer have to make a choice between high yield, liquidity, security, and convenience. With First South Bank’s Investment Checking you can have them all…and more!
To learn more about Investment Checking click here, or to inquire about current rates on Investment Checking or one of our other deposit products, please contact one of our branches. Please click here for contact information for each of our locations.
EFFECTIVE JANUARY 1, 2013
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC).
Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html.
FDIC Insurance Permanently Increased from $100,000 to $250,000
The Dodd-Frank Wall Street Reform and Consumer Protection Act permanently raised the current standard maximum deposit insurance amount to $250,000.
The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category.
Please visit the FDIC website (www.fdic.gov/edie) or talk to one our associates to learn how to maximize FDIC coverage of your deposits.