FDIC Information

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the US government that protects against the loss of insured deposits if an FDIC-insured bank fails. FDIC deposit insurance is backed by the full faith and credit of the US government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs). FDIC insurance does not, however, cover other financial products and services that insured banks may offer, such as stocks, bonds or municipal securities.

There is no need for depositors to apply for FDIC insurance or even to request it. Physicians National Bank is an FDIC  insured bank and coverage is automatic for our customers.

To ensure funds are fully protected, depositors should understand their coverage limits. The FDIC provides separate coverage for deposits held in different account ownership categories. The coverage limits shown in the chart below refer to the total of all deposits that an accountholder has in the same ownership categories at each FDIC-insured bank. The chart shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.

Notice of Changes in Temporary FDIC Insurance Coverage
For Transaction accounts

All funds in a “non-interest-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.

Basic FDIC Deposit Insurance Coverage Limits
Single Accounts (owned by owned person)	$250,000 per owner
Joint Accounts (two or more persons)	$250,000 per co-owner
IRA's and certain other retirement accounts	$250,000 per owner
Trust Accounts	$250,000 per owner per beneficiary subject to specific limitations and requirements
Corporation, partnership and Unincorporated Association Accounts	$250,000 per corporation, partnership or unincorporated association
Employee Benefit Plan Accounts	$250,000 for the non-contingent, ascertainable interest of each participant
Government Accounts	$250,000 per official custodian
Non-interest Bearing Transaction Accounts	Unlimited coverage – December 31, 2010 through December 31, 2012

If you have questions about FDIC coverage limits and requirements, visit www.myFDICinsurance.gov, call toll-free 1-877-ASK-FDIC or ask an Physicians National Bank representative.