Disclosure Statements
Notice of Expiration of the Temporary Full FDIC Insurance Coverage for Noninterest-bearing Transaction Accounts
By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
For more information about FDIC insurance coverage of noninterest bearing transaction accounts, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html.
Secure and Fair Enforcement of the Mortgage Licensing Act of 2008
In accordance with the Secure and Fair Enforcement of the Mortgage Licensing Act of 2008, the names and corresponding unique identifying numbers of the bank’s mortgage loan officers are available upon request. Please contact Robert Bauman at 763-424-5888, 5600 LaCentre Ave Suite 100, Albertville, MN 55301 or rbauman@financialsecuritybank.com.
