High-Balance Deposits Secured by FDIC Insurance

As discussions surrounding recent — and potential future — bank failures continue making headlines across media outlets, people everywhere find themselves wondering whether their hard-earned money is in safe hands. We think it’s important to not just place minds at ease, but to explain the specific tools and resources available to keep your money protected.

FDIC Insurance is an initiative by the U.S. Government to protect deposits in banks. In FDIC-Insured banks, such as ours, customer’s deposits are insured up to $250,000 per depositor, per account ownership category. 

Some examples of ownership categories include:

• Single Accounts
• Joint Accounts
• Certain Retirement Accounts
• Revocable Trust Accounts
• Business Accounts

Our customers have access to FDIC Insurance to protect their deposits up to $250,000, per depositor, per account ownership category. In fact, as a consumer, you may qualify for coverage over $250,000 if you have funds in different ownership categories and all FDIC requirements are met. If you have questions about your coverage, reach out to us and we can let you know if your funds are fully protected.

If you think you may need additional coverage, we have a solution! Through our partnership with IntraFi^® Network, you can access millions in FDIC insurance— all through a single bank relationship with us, a bank you know and trust.

The IntraFi® Network consists of two programs:

1. IntraFi Cash ServiceSM (ICS) – demand deposit accounts and money market accounts.
2. Certificate of Deposit Account Registry Services® (CDARS) – certificates of deposit accounts.

When we place your funds through the ICS or CDARS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The funds are then placed in demand deposit accounts or money market deposit accounts (using ICS), or in CDs (using CDARS), at multiple banks. As a result, you can access coverage from many institutions while working directly with just one

You receive one monthly statement from our bank for each service in which you participate, and, as always, your confidential information is protected.