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FDIC Insurance

Notice of Expiration of Temporary Full FDIC Insurance Coverage for noninterest-bearing Transaction Accounts

By operation of federal law, beginning Jan. 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 Corporation (FDIC). Beginning Jan. 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.

Important Information for Cadence Customers 

About FDIC Insurance Coverage

FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit. FDIC insurance does not cover other financial products and services that banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or securities.

The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for more coverage if they have funds in different ownership categories and all FDIC requirements are met.

For details on the requirements, go to www.fdic.gov/deposit/deposits.

To find out how much coverage you have at Cadence Bank, go to www.myfdicinsurance.gov to use the FDIC Insurance Coverage Estimator or contact your local Cadence Bank branch.

 

 

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