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Frequently Asked Questions

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FDIC Insurance Coverage FAQ

  1. How do I know how much of my deposits are covered by FDIC insurance?

    TowneBank is pleased to participate in the FDIC's Transaction Account Guarantee Program.  Under the program, through December 31, 2009, all non-interest bearing transaction accounts* are fully guaranteed by the FDIC for the entire account balance.  This coverage is in addition to and separate from coverage available under the FDIC's general deposit insurance rules.
     
    Our other deposit products continue to be covered under the $250,000 base coverage available under the FDIC's general deposit insurance rules through December 31, 2013.
     

    *Non-interest bearing transaction accounts include NOW accounts and IOLTAs that cannot earn more than .50% for the duration of the program. 

    Watch this helpful video to see how you can get the most out of FDIC insurance.
     
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