FDIC Deposit Insurance Notice



MBank is participating in the FDIC's Transaction Account Guarantee Program (TAGP). Under the program, through December 31, 2010 all noninterest-bearing transaction accounts, as defined by the program and listed below, are fully guaranteed by the FDIC for the entire balance - regardless of dollar amount. Coverage under the TAGP is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.

A "noninterest-bearing transaction account" is defined as a transaction account with respect to which interest is neither accrued nor paid and on which the insured depository institution does not reserve the right to require advance notice of an intended withdrawal. This definition encompasses traditional demand deposit checking accounts that allow for an unlimited number of deposits and withdrawals at any time. This definition does not encompass interest-bearing money market deposit accounts (MMDAs).

However, for purposes of the Transaction Account Guarantee Program, the FDIC is including in the definition of a noninterest-bearing transaction account:

Accounts commonly known as Interest on Lawyers Trust Accounts (IOLTAs) and functionally equivalent accounts; and
Negotiable order of withdrawal accounts (NOW accounts) with interest rates no higher than 0.50% (Effective July 1, 2010; interest rates no higher than 0.25%)