FDIC’s Transaction Account Guarantee Program

Pegasus Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through June 30, 2010, all non-interest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. 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.

FDIC Insurance Coverage Increased to 250,000

Effective October 3, 2008 the basic limit on federal deposit insurance coverage was temporarily increased from $100,000 to $250,000 per depositor. This temporary increase is through December 31, 2013. But as always, a depositor may qualify for more than the basic insurance coverage at one insured bank because the FDIC provides separate insurance coverage for deposits held in different “ownership categories,” such as single and joint accounts.

Non-Interesting-Bearing Checking Accounts Now Fully Insured

Through June 30, 2010, certain checking accounts at participating banks will be fully insured by the FDIC, regardless of the account balance. This special insurance coverage applies only to non-interest-bearing checking accounts and certain low-interest transaction accounts. Pegasus Bank is a participating institution. IOLTAs (Interest on Lawyers Trust Accounts) are included in the FDIC’s definition of non-interest-bearing checking accounts. Currently Pegasus Bank’s Interest Checking Account meets the definition of a low-interest transaction account.

How to Learn More About FDIC Coverage

You can learn more about FDIC insurance coverage by calling us at 214.353.3000, calling the FDIC at 1.877.275.3342 or visiting their website at www.fdic.gov