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
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