FDIC Information

FDIC Deposit Insurance Coverage

The Federal Deposit Insurance Corporation (FDIC) is an independent government agency that protects depositors against the loss of their insured deposits if an FDIC-insured bank fails. Since the FDIC was founded in 1933, no depositor has ever lost a penny of insured deposits. FDIC insurance is backed by the full faith and credit of the United States government to at least $250,000. Insured deposits include:

  • Checking accounts, including money market deposit accounts
  • Saving accounts
  • Certificates of Deposits (CDs)
  • Certain retirement accounts

Certain accounts are not covered by FDIC insurance. These include investments in mutual funds (stock, bond or money market mutual funds) whether purchased from a bank, brokerage or dealer; annuities; stocks, bonds, Treasury securities or other investment products; and the contents of a safe deposit box.

Centennial Bank is an FDIC-member bank. Coverage for your insured deposit accounts is automatic and can be increased beyond $250,000 through a combination of accounts. You can calculate your insurance coverage using the FDIC's Electronic Deposit Insurance Estimator at www.myFDICinsurance.gov. For more information on Federal Deposit Insurance, visit http://www.fdic.gov/deposit/index.html or call toll-free 1.877.275.3342 (hearing impaired line 1.800.925.4618).

Insured Cash Sweep (ICS℠) and Certificate of Deposit Account Registry Service (CDARS®)

Centennial Bank is a member of the CDARS® network which allows our customers to invest multi-million dollar balances in Money Market or Certificate of Deposit Accounts with full FDIC insurance. Enjoy the security of working with your local, trusted bank and simplified record keeping with one consolidated monthly statement.

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