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FDIC Insurance Coverage Increase

New!!! If you are in need of Additional FDIC Insurance, Laconia Savings Bank now offers CDARS (Certificate of Deposit Registry Service), click here for more information.

FDIC Insurance Coverage Increase

To help ease concerns, Congress recently voted to increase the Federal Deposit Insurance Corporation (FDIC) limits. Your deposits are now insured up to $250,000 per depositor. If you have more than $250,000 on deposit, you may be able to get additional FDIC coverage.  FDIC insurance coverage temporarily increased from $100,000 to $250,000 through December 31, 2013.  The FDIC provides an online insurance calculator at their FDIC website to help you understand your insurance coverage.

Transaction Account Guarantee Program

Laconia Savings Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through June 30, 2010, all noninterest-bearing transaction accounts (such as traditional demand deposit checking accounts), NOW accounts, and IOLTA (Interest on Lawyers Trust Accounts) are fully guaranteed by the FDIC for the entire amount in the account. Official checks issued by Laconia Savings Bank are also fully guaranteed. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the $250,000 coverage available under the FDIC's general deposit insurance rules. This additional coverage applies to personal and business noninterest bearing transaction accounts. All other deposit accounts are insured by the FDIC up to $250,000 per depositor.  

Notice to Customers with Transfer or Sweep Arrangements

This is to advise you that Laconia Savings Bank participates in the FDICs Transaction Account Guarantee Program. Under the program, through June 30, 2010, your non-interest bearing transaction accounts are fully guaranteed by the FDIC. This insurance is in addition to and separate from the FDICs normal deposit insurance coverage of $250,000. However, if you have a non-interest bearing transaction account with a transfer or sweep arrangement to an interest bearing transaction account or product, that transfer could decrease or void your FDIC guarantee. As you are aware, the bank provides confirmation to you regarding the collateral provided by the bank under your repurchase agreement.

Our knowledgeable staff can assist you with any questions you may have. Please feel free to visit a branch or call our Customer Service Center at 1-800-832-0912.

Laconia Savings Bank has over $100 million in capital and reserves and is the largest and one of the strongest community banks in New Hampshire. No customer has ever lost a penny of their insured deposits.