NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rule.
The term “noninterest-bearing transaction account” includes traditional checking account or demand deposit account in which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money market deposit accounts. For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
MidSouth Bank Account Types eligible for UNLIMITED COVERAGE
Select Free Checking
Business Free Checking
Commercial Checking
IOLTA
MidSouth Bank Account Types NOT eligible for Unlimited Coverage – FDIC insurance is limited under General Deposit Insurance Rules
Select Plus Checking
Select 50 Checking
Select Advantage Checking
Regular Savings
Money Market
Health Savings Accounts
Business Interest Checking
Commercial Interest Checking
Business Savings
Business Money Market Savings
Certificates of Deposit
Individual Retirement Accounts
Equal Housing Lender