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As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Federal Deposit Insurance Corporation (FDIC) created a new, temporary deposit insurance category for noninterest-bearing transaction accounts. This new category included Interest on Lawyers' Trust Accounts (IOLTAs). These accounts are fully insured by the FDIC insured, without limits on dollar amounts, through December 31, 2012.

Due to the expected expiration of this provision of Dodd-Frank, we are providing you with the following notice:

By operation of federal law, beginning January 1, 2013, funds deposited in noninterest-bearing transaction accounts (including IOLTAs) will no longer will receive unlimited FDIC coverage. Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.