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First Community Bank is participating in the FDIC’s Transaction
Account Guarantee Program.
The Dodd-Frank Wall Street Reform and Consumer Protection Act
signed on July 21, 2010 made permanent the current standard
maximum deposit insurance amount of $250,000. The FDIC coverage
limit applies per depositor, per insured depository institution,
for each account ownership category.
The FDIC’s temporary Transaction Account Guarantee Program
provides depositors with unlimited coverage for non-interest
bearing transaction accounts at participating FDIC-insured
institutions. Non-interest bearing checking accounts include
Demand Deposit Accounts (DDAs) and any transaction account that
has unlimited withdrawals and that cannot earn interest. Also
included are low-interest NOW accounts (NOW accounts that cannot
earn more than 0.25% interest) and IOLTA accounts. This
unlimited insurance coverage is temporary and will remain in
effect through December 31, 2010.
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