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FDIC Deposit Insurance Permanently raised to $250,000
On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raises the current standard maximum deposit insurance amount to $250,000. The standard maximum insurance amount of $100,000 had been temporarily raised to $250,000 until December 31, 2013. The FDIC insurance coverage limit applies per depositor, per insured depository institution for each account ownership category.

"With this permanent increase of deposit insurance coverage to $250,000, depositors with CDs above $100,000 but below $250,000 will no longer have to worry about losing coverage on those CDs maturing beyond 2013. We strongly encourage all bank depositors who have questions about their insurance coverage to go to our Web site at www.fdic.gov and use our Electronic Deposit Insurance Estimator (EDIE) or call our toll-free number at 1-877-ASK-FDIC. Insured deposits provide the comfort and peace of mind to depositors that their money is 100 percent safe – provided they keep their deposit balances within the insurance limits," said FDIC Chairman Sheila C. Bair.

Viking Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010 all non interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. In addition, beginning July 1, 2010, NOW accounts earning less than 0.25%APY will also be fully insured. Coverage under TAGP is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.