Changes in FDIC Deposit Insurance Coverage

Deposits at FDIC-insured institutions, including GNB Bank, are now insured up to $250,000 per depositor. Under legislation passed on July 21, 2010, basic FDIC Insurance coverage has been permanently increased to $250,000 per depositor.

The temporary increase from $100,000 to $250,000 was effective from October 3, 2008, through December 31, 2010. On May 20, 2009, the temporary increase was extended through December 31, 2013.

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 rules.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts, and Interest of Lawyers Trust Accounts ("IOLTAs").

Please contact GNB's personal bankers Stacy Fogt, Molly Eggleston, Donna Vreeland, or Kim Heinrich with questions concerning your deposit account insurance.