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Investment Checking
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.
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR 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 more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
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.