NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS

PURSUANT TO SECTION 343 OF THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT, TEMPORARY UNLIMITED DEPOSIT INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS (NIBTAs), INCLUDING INTEREST ON LAWYER TRUST ACCOUNTS, IS SCHEDULED TO EXPIRE ON DECEMBER 31, 2012. ABSENT A CHANGE IN LAW, BEGINNING JANUARY 1, 2013, THE FDIC NO LONGER WILL PROVIDE SEPARATE, UNLIMITED DEPOSIT INSURANCE COVERAGE FOR NIBTAs AT INSURED DEPOSITORY INSTITUTIONS.

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 “non interest-bearing transaction account” includes a traditional checking account or demand deposit account on 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 transactions accounts, visit www.fdic.gov.


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