NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTERST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Coporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account, on which the insured depository institution (Bank of the Prairie) pays no interest. For more information about FDIC insurance coverage of noninterest-bearing transactions accounts, visit www.fdic.gov
Bank of the Prairie has agreed to comply with the Luxury Expenditure Policy of Prairie Star Bancshares, Inc. in accordance with the Executive Compensation Regulation 31 C.F.R Part 30. Click Here to see a copy of the Policy