What is the FDIC?

Since 1933, the FDIC seal has symbolized the safety and security of our nation’s financial institutions. FDIC deposit insurance enables consumers to confidently place their money at thousands of FDIC-insured banks across the country, and is backed by the full faith and credit of the United States government.

FDIC deposit insurance coverage depends on two things: (1) whether your chosen financial product is a deposit product; and (2) whether your bank is FDIC-insured.

The FDIC, along with other federal and state regulatory agencies, regularly review all FDIC-insured banks, such as First Century Bank, to ensure standards are met. Another role of the FDIC is to preserve and promote the public confidence in the U.S. financial system by insuring deposits in financial institutions.

The FDIC Covers

  • Checking Accounts
  • Negotiable Order of Withdrawal (NOW) accounts
  • Savings Accounts
  • Money Market Deposit Accounts (MMDAs)
  • Time Deposits such as Certificates of Deposits (CDs)
  • Cashier’s Checks, Money Orders, and other Official Items issued by a Bank

FDIC insurance protects deposits from loss up to the FDIC insurance limit, including principal and accrued interest.

The FDIC Does NOT Cover

  • Stock investments
  • Bond investments
  • Mutual funds
  • Life insurance policies
  • Annuities
  • Municipal securities
  • Safe deposit boxes or their contents
  • U.S. Treasury bills, bonds or notes

Your FDIC Coverage

At First Century Bank, your deposits are covered by the FDIC for up to $250,000 per depositor.* You may have more coverage depending on the ownership of your accounts.

Account TypeCoverage Amount
Single Accounts
Owned by One Person
$250,000
Per Owner
Joint Accounts
Owned by Two or More Persons
$250,000
Per Co-Owner
Certain Retirement Accounts
Includes IRAS
$250,000
Per Owner
Revocable Trust Accounts$250,000
Per Owner Per Unique Beneficiary
Corporation, Partnership and Unincorporated Association Accounts$250,000
Per Corporation, Partnership or Unincorporated Association
Irrevocable Trust Accounts$250,000
For the Noncontingent Interest of Each Unique Beneficiary
Employee Benefit Plan Accounts$250,000
For the Noncontingent Interest of Each Plan Participant
Government Account$250,000
Per Official Custodian (More Coverage Available Subject to Specific Conditions)

*Additional coverage may be available to you depending on the ownership status of your account. Talk to your Relationship Banker for details.

Calculate FDIC Coverage

Use the FDIC's Electronic Deposit Insurance Estimator (EDIE) to estimate your insurance coverage.

Click here to read more about FDIC insurance.