FDIC Insurance Coverage At Howard Bank

FDIC Insurance Coverage at Howard Bank

Deposits at Howard Bank are insured by the FDIC for up to $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.

In addition, Howard Bank is participating in the FDIC’s Transaction Account Guarantee Program. 

Under the Program, through December 31, 2010, all Non-Interest-Bearing Transaction Accounts are fully guaranteed by the FDIC for the entire amount in the account.  Non-Interest-Bearing Transaction Accounts include Interest on Lawyers Trust Accounts (IOLTAS) and NOW accounts that earn 0.25% or less. 

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.

How to calculate your FDIC Insurance Coverage

The FDIC has an interactive application named EDIE (Electronic Deposit Insurance Estimator) that allows you to calculate your insurance coverage.  Click here to access EDIE.  You can also ask any of our account officers to assist you in calculating your FDIC Insurance Coverage and we have material from the FDIC available at our branches.