On May 20, 2009, it was announced that deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through December 31, 2013, (extended from the 12/31/09 timeline previously announced).
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.
Banner Bank is also a participant in the FDIC’s Transaction Account Guarantee Program. Between October 14, 2008, and June 30, 2010, all depositors’ funds held in a non-interest bearing transaction account are insured in full by the FDIC. The unlimited coverage applies to all personal and business checking deposit accounts that do not earn interest, NOW accounts that cannot earn more than 0.50 % interest, and IOLTA accounts. This FDIC insurance coverage is in addition to any other FDIC deposit insurance available to our depositors.
If you have questions about FDIC coverage limits and requirements, please visit the FDIC Deposit Insurance Web site, call toll-free 1-877-ASK-FDIC or contact any Banner Bank branch or call us toll-free 1-800-272-9933 during business hours.