October 7, 2008
Dear Depositor:
The media has been giving a lot of attention to the banking industry in recent days. Here at The First Bank and Trust Company of Murphysboro, we want to assure you that our bank continues to be strong and remains a solid and important member of our community. We are well-capitalized, routinely examined by, both, state and federal banking regulators - who make certain that we are operating in a safe and sound manner for your protection - and far-removed from the events on either coast that have prompted so much fanfare lately.
As you know, First Bank and Trust is insured by the Federal Deposit Insurance Corporation (the FDIC). You can be confident that your insured deposits are safe. FDIC insurance is backed by the full faith and credit of the
United States government.
All FDIC-insured deposits, including checking, NOW, savings and money market accounts, as well as certificates of deposit, are insured up to the following legal limits for each unaffiliated financial institution: $100,000 per person, plus $200,000 per joint account (with a spouse, child or someone else), plus $250,000 for most retirement accounts, such as Individual Retirement Accounts. Moreover, if you believe that some of your deposits are not fully insured, it may be possible to restructure your accounts to bring your deposits into insurance coverage.
ON OCTOBER 3, FDIC DEPOSIT INSURANCE TEMPORARILY INCREASED FROM $100,000 TO $250,000 PER DEPOSITOR THROUGH DECEMBER 31, 2009.
If you have any questions as to what types of accounts are insured by the FDIC, you can obtain more information at http://www.fdic.gov/deposit/deposits/insuringdeposits/iyd.pdf, where you can download a comprehensive brochure prepared by the FDIC. If you want to calculate your own insurance coverage for the deposits held by our bank or any other financial institution, you can use the FDIC's online "Electronic Deposit Insurance Estimator" at http://www4.fdic.gov/EDIE/. You also can speak directly with an FDIC specialist by calling 1877-ASK-FDIC.
First Bank and Trust has been here for you nearly 120 years. We’ve weathered many an economic downturn. Our conservative approach to protecting your money will get us through these times as well.
We want you to know that we appreciate your business. If you have any questions about your accounts, please do not hesitate to call our bank at 618-687-1711.
Sincerely,
Michael Cripps
President and CEO
