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 provided that the basic deposit insurance limit will return to $100,000 after December 31, 2009.
On May 20, 2009, the FDIC announced an extension of the temporary increase in coverage. As such, as of May 20, 2009, deposits at FDIC-insured institutions
are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return
to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor.
(This supersedes the October 3, 2008 changes.)
1st Mariner Bank is also participating in the FDIC's Transaction Account Guarantee Program. Under the program, through June 30,2010, all noninterest
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. Including in the definition of noninterest bearing checking accounts are Interest in Lawyers Trust Accounts (IOLTAs) and Negotiable Order of Withdrawals (NOW) accounts that are in effect as of 12/31/08 that pay interest of .50% or less and which continue to pay at or below .50% through June 30, 2010. All 1st Mariner NOW account products, except for the Premier Checking Account, are fully guaranteed under the TAG Program. The Premier Checking Account is subject to the standard deposit insurance limit discussed above.
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.
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.