FDIC Coverage Explained :: Community Bank of San Joaquin, Stockton, California

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Updated:
August 21, 2010
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FDIC COVERAGE
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Our customers enjoy the following increased insurance of accounts due to FDIC standard insurance coverage and Community Bank of San Joaquin's participation in the FDIC's Transaction Account Guarantee program.

Unlimited FDIC Insurance of Certain Accounts
On November 21, 2008, the FDIC expanded coverage provided by the Transaction Account Guarantee (TAG) program by redefining the terminology "non-interest bearing transaction account".

As a result, unlimited FDIC insurance is now provided on Community Bank of San Joaquin checking accounts with an interest rate of 0.25% or less regardless of balance or ownership. This applies to both personal and business accounts through December 31, 2010.

Interest on Lawyers Trust Accounts (IOLTAs) are now provided unlimited FDIC insurance through this program regardless of the interest rate earned.

Non-Interest Bearing Deposit Accounts
On October 14, 2008, FDIC insured institutions were invited to participate in the Transaction Account Guarantee (TAG) program. This program provides full insurance of all non-interest bearing transaction deposit accounts, regardless of account balance or ownership. Community Bank of San Joaquin is participating in this program for the benefit of both personal and business accountholders. This FDIC program has been extended through December 31, 2010.

Beginning December 31, 2010 through December 31, 2012, deposits held in noninterest-bearing transaction accounts will be fully insured, regardless of the amount in the account, at all FDIC-insured institutions.

Personal non-interest bearing accounts..........
unlimited FDIC insurance
Business non-interest bearing accounts.........
unlimited FDIC insurance
[FDIC's explanation of coverage changes as of July 2010]

Interest Bearing Deposit Accounts
On July 17, 2010, standard FDIC deposit insurance was permanently increased from $100,000 to $250,000 per depositor, per insured depository institution, for each account ownership category.

Single interest bearing accounts..........
insured up to $250,000
Joint interest bearing accounts............
insured up to $250,000 per co-owner
IRA deposits...........................................
insured up to $250,000 per plan depositor
Interest bearing accounts registered in a Living Trust..........................................
(including pay-on-death accounts, also called PODs)

insured up to $250,000 per owner per beneficiary (up to 5 beneficiaries) [details]

Here is an example of available coverage up to $2.7 million:

Account Owner	Deposit Type	Account Balance
Sally Saver	Individual Interest Savings	$250,000
Scott Saver	Individual Certificate of Deposit	$250,000
Sally & Scott Saver	Joint Interest Savings	$500,000
Sally & Scott Saver	Joint Interest Checking*	$400,000
Sally & Scott Saver	Joint Non-Interest Checking**	$300,000
Sally Saver Trustee for Scott Saver (POD)	POD Certificate of Deposit	$250,000
Scott Saver Trustee for Sally Saver (POD)	POD Interest Savings	$250,000
Sally Saver, IRA	Retirement Savings	$250,000
Scott Saver, IRA	Retirement Certificate of Deposit	$250,000
Total Deposits		$2,700,000
Amount Insured		$2,700,000
Checking accounts with an interest rate of 0.25% or less and all non-interest bearing accounts held at Community Bank of San Joaquin currently enjoy unlimited* FDIC insurance through December 31, 2010, resulting in even greater protection. [details] **Beginning December 31, 2010 through December 31, 2012, deposits held in noninterest-bearing transaction accounts will be fully insured, regardless of the amount in the account, at all FDIC-insured institutions. [more information]


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Community Bank of San Joaquin is participating in the FDIC's Transaction Account Guarantee (TAG) program. Under that program, through December 31, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account.

Noninterest-bearing checking accounts include Demand Deposit Accounts (DDAs) and any transaction account that has unlimited withdrawals and that cannot earn interest. Also included are low-interest NOW accounts (NOW accounts that cannot earn more than 0.25% interest) and any Attorney-Client Trust accounts, also known as Interest On Lawyers Trust Accounts (IOLTAs).

Coverage under the TAG program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.

Lost or stolen Visa® Check Card, call (209) 956-7000 Monday-Friday 9am-5pm or 1-800-754-4128 after hours. For other important telephone numbers, click here. Community Bank of San Joaquin
Main Office 22 West Yokuts Avenue Stockton, CA 95207-5715 [map] 209-956-7000	Waterloo Office 4426 East Waterloo Road Stockton, CA 95215-2306 [map] 209-373-4300
Services Available: Administration, Branch, Loans, Full-Service Drive-Up, ATM* and Night Depository*	Services Available: Branch, Loans, ATM* and Night Depository*
Office Hours: Monday-Thursday 9am-5pm Friday 9am-6pm Saturday 9am-1pm and By Appointment	Office Hours: Monday-Thursday 9am-5pm Friday 9am-6pm
*This service available 24 hours a day.

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