First National Bank and Trust to Offer Up To $50 million in Federal Deposit Insurance Coverage

Beloit, WI October 2008 - Effective immediately, customers can access up to $50 million in Federal deposit insurance at First National Bank and Trust Company.   

With the Certificate of Deposit Account Registry Service, or CDARS, banks can, in effect, provide a customer with the opportunity for a risk-free investment. 

"With the safety and convenience that our bank offers through CDARS, our customers have a new, smart option to help them manage their money," says Steve Eldred,  President.  "There are few guarantees in life, FDIC Insurance is one of them." 

In 1980, Congress set FDIC coverage limits at $100,000 per account with a recent temporary adjustment on October 3^rd to $250,000 through the end of 2009.  Inflation over the past 26 years has eroded more than half the value of that coverage.  Now, bankers using CDARS can offer customers much more. 

"Who needs it?  Not just the wealthy.  Retirees, small business owners, nonprofit organization managers - anyone who wants security," Mr. Eldred added. 

How does CDARS work?  Through a sophisticated computer network, First National Bank places customer deposits with other FDIC-insured banks, allowing customers to manage all their funds through one portfolio at First National.   

"Customers benefit from the ease of working with only one institution - your local First National Bank branch - and receiving only one statement," Mr. Eldred said. 

First National Bank and Trust has been serving the Stateline area for more than 126 years.  We continually strive to bring our community innovative banking solutions.  For more information, visit www.bankatfirstnational.com or call 800-667-4401.

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