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FDIC Frequently Asked Questions


By operation of federal law, beginning January 1, 2013, funds deposited in a non-interest 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 January 1, 2013, all of a depositor's accounts at an insured depository institution, including all non-interest 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.

For more information about FDIC insurance coverage of non-interest bearing transaction accounts, visit:


How safe is Mabrey Bank in today's economy?

Mabrey Bank remains financially safe and sound during these more challenging economic times.  The bank has grown significantly over the last several years and has continued to grow throughout the current economic downturn with total assets now exceeding $750 million.  Mabrey Bank maintains a well-capitalized position and we are strategically positioned to continue this growth.  Additionally, your deposits are insured by the FDIC to at least $250,000. Mabrey Bank is pleased to provide you with more detail in our most recent Statement of Condition.

What is the FDIC?

The FDIC (Federal Deposit Insurance Corporation) is an independent agency of the United States Government that protects you against the loss of your deposits if an FDIC-insured bank or savings association fails.  FDIC insurance is backed by the full faith and credit of the United States government.  Since the FDIC's creation in 1933, no depositor has ever lost even one penny of FDIC-insured funds.

How much of my money is protected by the FDIC?

Basic FDIC Deposit Insurance Coverage Limits

Single Accounts (owned by one person)

$250,000 per owner

Joint Accounts (two or more persons)

$250,000 per co-owner

IRAs 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

Why was coverage increased from $100,000 to $250,000?


The government enacted the Emergency Economic Stabilization Act of 2008 on October 3, 2008 to enhance confidence in the US banking system and so more of consumers' funds would be protected.

Is it possible to have more than $250,000 at one insured bank and still be fully covered?


You may qualify for more than $250,000 in coverage at one insured bank or savings association if you own deposit accounts in different ownership categories.  The most common account ownership categories for individual and family deposits are single accounts, joint accounts, revocable trust accounts and certain retirement accounts. Learn more about protecting your money with FDIC.

What types of accounts are eligible for FDIC insurance?


FDIC insurance covers all deposit accounts at insured banks and savings associations, including checking, NOW, and savings accounts, money market deposit accounts and certificates of deposit (CDs) up to the insurance limit.  The FDIC does not insure the money you invest in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if you purchased these products from an insured bank or savings association.

Are my separate business accounts also covered by FDIC insurance?


Are my separate business accounts also covered by FDIC insurance?
Yes.  Your accounts are fully insured.  Your other separate business accounts are covered up to the $250,000 limit, so long as the business is a separate legal entity.  However, if you operate your business as a sole proprietorship, the deposit accounts of the sole proprietorship are treated as if they are personal accounts and aggregated with your personal accounts, with the total being insured up to $250,000.