First Bank of Charleston

FDIC Insurance Coverage

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. Coverage is automatic.

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.

The FDIC has also further protected depositors by instituting another NEW program under their Temporary Liquidity Guarantee Program which is available only at participating FDIC insured banks and savings associations. First Bank of Charleston is a participant in this program and we can now offer our customers UNLIMITED COVERAGE for non-interest bearing transaction accounts (checking accounts). This unlimited deposit insurance coverage is available through December 31, 2009.

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
*New:*
Non-interest Bearing Transaction Accounts	Unlimited coverage - only at participating FDIC insured banks and savings associations **
First Bank of Charleston is a participant in the FDIC's Temporary Liquidity Guarantee Program ** Unlimited deposit insurance coverage is available through December 31, 2009, for non-interest bearing transaction accounts at institutions participating in FDIC's Temporary Liquidity Guarantee Program.
* FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2013. If you have questions about FDIC coverage limits and requirements, visit www.myFDICinsurance.gov, call toll-free 1-877-ASK-FDIC or ask a First Bank representative.

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