Information about the FDIC
The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for at least $100,000; by identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails.
An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. Since the start of FDIC insurance on January 1, 1934, no depositor has lost a single cent of insured funds as a result of a failure. For more information click the link to access the FDIC's frequently asked questions.
Facts About Deposit Insurance at PlainsCapital Bank
PlainsCapital Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through June 30, 2010 the following deposit accounts are fully guaranteed by the FDIC:
• All noninterest-bearing transaction accounts of PlainsCapital Bank
• PlainsCapital Bank's "Fully Insured Interest Checking"
• PlainsCapital Bank's "IOLTA Interest Checking"
The above accounts are fully guaranteed by the FDIC for the entire amount in the account through June 30, 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.
All other deposit accounts of PlainsCapital Bank are guaranteed by the FDIC for up to $250,000 through December 31, 2013 under the FDIC's general deposit insurance rules.