Beginning January 1, 2010, funds held in noninterest bearing transaction accounts at The Bank of Baker will no longer be guaranteed in full under the Transaction Account Guarantee Program, but will be insured up to $250,000.00 under FDIC's general deposit insurance rules.

The Bank of Baker is participating in the FDIC’s Transaction Account Guarantee Program.  Under that program, through December 31, 2009, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account.  Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

IOLTA accounts are included in the definition of non-interest bearing transaction accounts.

The following accounts are covered under FDIC’s general deposit insurance rules; however they are excluded from coverage under the Transaction Account Guarantee Program:

Funds transferred by an Automatic Transfer or a Sweep from a non-interest bearing account to an interest bearing account are not fully guaranteed but are insured under FDIC’s general deposit insurance rules.