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FDIC Protection

Premier Community Bank is a member of the Federal Deposit Insurance Corporation (FDIC). We have knowledge and tools to help maximize your FDIC protection. Please contact any of our offices to discuss FDIC insurance, and how best to structure your deposit accounts to ensure maximum FDIC protection.

 

Important Facts Regarding FDIC Insurance

  • The current FDIC deposit insurance coverage limit is $250,000 per depositor per insured bank.
  • The FDIC provides separate insurance coverage for funds depositors may have in different categories of legal ownership. The FDIC refers to these different categories as “ownership categories.” This means that a bank customer who has multiple deposits may qualify for more than $250,000 in insurance coverage if the customer’s accounts are deposited in different ownership categories and the requirements for each ownership category are met. Subject to certain conditions, single and joint accounts are separately insured, and revocable trusts generally provide $250,000 of coverage per beneficiary.
  • Additionally, all bank depositors can have insurance coverage in excess of the basic limits of $250,000 per institution, with an additional $250,000 per institution for IRAs.
  • The FDIC website has an excellent calculator that can help you learn about deposit insurance. The Electronic Deposit Insurance Calculator www.fdic.gov/edie allows you to calculate the insurance coverage of your accounts.
  • If you have further concerns please contact one of our staff members or you can contact FDIC deposit insurance specialists at 1-877-ASK-FDIC or visit the FDIC Web site at www.fdic.gov.