Bank of Indiana
On April 5, 2013, Bank of Indiana entered into a Purchase and Assumption Agreement with First Farmers Bank and Trust. As we draw closer to the time of conversion, we ask that you pay close attention to the mail you receive from both Bank of Indiana and First Farmers Bank & Trust, as it will contain valuable information regarding the transition of your account(s). Be assured that it is the intention of both participating banks to make this transition as seamless as possible to our customers. Customers’ deposits will continue to be fully insured by the FDIC up to the limits set by the FDIC.
Both Bank of Indiana and First Farmers Bank and Trust look forward to continuing to offer our customers service excellence as well as additional products and services upon the conversion, scheduled for October, 2013. Please contact your banking representative should you have additional questions concerning this transaction.
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
By federal law, as of 1/1/2013, funds in a noninterest-bearing transaction account (including an IOLTA/IOLA) will no longer receive unlimited deposit insurance coverage, but will be FDIC-insured to the legal maximum of $250,000 for each ownership category.
For more information, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html