Your State Bank of Georgia accounts are insured to the maximum amounts allowed by the Federal Deposit Insurance Corporation (FDIC).
FDIC insurance covers all types of deposits received at an insured bank, including deposits in checking, NOW and savings accounts, money market deposit accounts, and time deposits such as certificates of deposit (CDs) up to the insurance limit.
FDIC deposit insurance covers the balance of each depositor's account, dollar-for-dollar, up to the insurance limit, including principal and any accrued interest.
The FDIC does not insure money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if these investments were bought from an insured bank.
The basic insurance amount is $250,000 per depositor, per insured bank.
IRAs and certain retirement accounts are also insured up to $250,000 per depositer, per insured bank.
Deposits in separate branches of an insured bank are not separately insured. Deposits in one insured bank are insured separately from deposits in another insured bank.
Deposits maintained in different categories of legal ownership at the same bank can be separately insured. Therefore, it is possible to have deposits of more that $250,000 at one insured bank and still be fully insured.
To calculate how your accounts are covered by FDIC insurance, visit www.myfdicinsurance.gov and use EDIE the Estimator to calculate the coverages for your accounts.