With Your FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor!
On October 3, 2008, President George W. Bush signed the Emergency Economic Stabilization Act of 2008, which temporarily raises the basic limit on federal deposit insurance coverage from $100,000 to $250,000 per depositor. The temporary increase in deposit insurance coverage became effective immediately upon the President's signature. The legislation provides that the basic deposit insurance limit will return to $100,000 after December 31, 2009.
1st Mariner Bank is also participating 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 amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC insured funds.
To determine your individual or joint coverage, the FDIC provides a tool that calculates your FDIC coverage. To access the calculator, go to the FDIC site at http://www.fdic.gov/EDIE/ . If you have any other questions, feel free to call our Customer Service Center at 410-558-4200 or visit one of our local branches.