NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE
COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS
By operation of federal law, beginning January 1, 2013, funds deposited into a non-interest-bearing transaction account (including an Interest on Lawyer Trust Account [IOLTA]) no longer will receive unlimited insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositors 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: http://www.fdic.gov/deposit/deposits/unlimited/expiration.html
Grandpoint Bank and its divisions, Bank of Tucson and Regents Bank, are the same FDIC-insured institution. Deposits held at Grandpoint Bank, Bank of Tucson and Regents Bank are combined when determining the $250,000 federal deposit insurance limit per depositor for each account ownership category.
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