FDIC Update

Effective through December 31, 2013, Basic FDIC Insurance has been increased from $100,000 to $250,000 per depositor per insured financial institution. 

Also effective through June 30, 2010, Farmers Savings Bank is participating in the FDIC Transaction Account Guarantee Program (part of the Temporary Liquidity Guarantee Program) under which all non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account.  Funds automatically transferred to a non-deposit account or other account not subject to this Program will void the FDIC's guarantee with respect to the transferred funds.  Coverage under this Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.

On January 1, 2014, Basic FDIC Insurance will go back to $100,000, except for deposits in IRAs and certain other retirement accounts, which will remain at $250,000 and the separate unlimited FDIC guarantee on non-interest bearing transaction accounts will be eliminated.

A Farmers Savings Bank customer service representative will be happy to provide you with more information, or click on the FDIC logo on our home page to go directly to the FDIC website.