Notice - FDIC Increases Coverage

Deposit accounts are FDIC insured up to $250,000 per depositor – more than double the former account coverage limit.

Effective July 21, 2010 President Obama signed into law The Dodd-Frank Wall Street Reform and Consumer Protection Act which increased FDIC coverage permanently. Deposit accounts are now FDIC insured up to $250,000 per depositor.

• Single accounts are insured up to $250,000
• Joint accounts (50/50 ownership) are insured up to $500,000 ($250,000 for each individual)
• IRA deposits are insured up to $250,000 per plan depositor
• Accounts that are registered in a Living Trust are insured up to $250,000 per owner, per beneficiary

Here is an example of how you could be covered up to $1,000,000:

Bank of San Francisco is participating in the FDIC's Transaction Account Guarantee Program which enables us to provide unlimited insurance coverage on non-interest bearing deposit transaction (i.e. checking) accounts, regardless of the dollar amount through December 31, 2012.

Negotiable Order of Withdrawal (NOW) accounts paying a rate of 0.25% or less and Interest on Lawyers Trust Accounts (IOLTA) are also fully insured under the Program. The temporary guarantee runs until December 31, 2010.

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. Bank of San Francisco's election to participate in the Program is another example of how we are working to ensure that our clients’ deposits are safe, secure and protected.

The guarantee does not apply to the NOW accounts listed below which may have interest rates of 0.25 percent or more. These products continue to be insured for up to $250,000 under the FDIC’s general deposit insurance rules.

• High Yield Business Interest Checking
• High Yield Individual Interest Checking

Learn more on how you can make the most of your coverage.

Visit the FDIC Home page.