The Dodd Frank Act has extended some provisions of the FDIC’s Transaction Account Guarantee Program. Under the Dodd Frank Act, all “noninterest-bearing transaction accounts” and IOLTA accounts are fully guaranteed by the Federal Deposit Insurance Corporation (FDIC) for the entire amount in the account from December 31, 2010 through December 31, 2012. Coverage under the Dodd Frank Act is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

The term “noninterest-bearing transaction account” includes all traditional checking or demand deposit accounts on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking and demand deposit accounts that may earn interest, NOW accounts or money-market deposit accounts.

For more information about FDIC insurance coverage of transactions accounts, you may visit the FDIC’s website at www.fdic.gov or call the First National Bank of Odon at (812) 636-7324