Basic FDIC Insurance
As of July 21, 2010, the standard maximum deposit insurance provided by the FDIC has been permanently increased to $250,000 per depositor, per insured depository institution for each account ownership category. For more information on FDIC insurance, visit www.FDIC.gov.
Temporary Liquidity Guaranty Program
Horizon Bank participates in the FDIC's Transaction Account Guarantee Program. This means that all funds held in non-interest earning checking accounts, regardless of amount, are fully guaranteed by the FDIC through December 31, 2010.
Accounts with transfer agreements ("sweep" arrangements) in connection with non-interest earning Horizon Bank checking accounts, where funds are transferred to an interest-earning account, any funds transferred or swept into the interest earning account will not be fully guaranteed under the FDIC's Transaction Account Guarantee Program. However, the funds that are transferred or swept into the interest earning account will continue to be insured through December 31, 2013 for up to $250,000 under the FDIC's general deposit insurance rules.
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