- As a community bank, Metro City Bank remains well capitalized and our liquidity position remains strong. We have a conservative balance sheet and sound risk management practices so we are well positioned to continue to service our customers and community. We have been servicing our community for over 17 years and expect to service this community for generations to come.
- As a community bank customer, you have access to our experienced team, and we stand ready to assist you at all times with any of your questions or concerns.
- As a community bank, we take pride in our relationship-based business model focused on building long-term trust with our customers. After all, we live in your community too, and your success is our success.
- Nobody has ever lost a dime of FDIC-insured deposits up to $250,000. For those customers who have questions about whether additional insurance coverage is needed, we are ready and prepared to assist you in identifying whether additional insurance coverage is necessary and ensuring your deposit needs are met. The FDIC provides separate insurance coverage for funds depositors may have in different categories of legal ownership. The FDIC refers to these different categories as “ownership categories.” This means that a bank customer who has multiple accounts may qualify for more than $250,000 in insurance coverage if the customer’s funds are deposited in different ownership categories and the requirements for each ownership category are met. Please see an example on the chart below.
|Title||Account Ownership Category||Owner(s)||Beneficiaries||Maximum Insurable Amount|
|Husband & Wife||Joint Account||Husband & Wife||$500,000|
|Husband POD||Revocable Trust Account||Husband||Wife||$250,000|
|Wife POD||Revocable Trust Account||Wife||Husband||$250,000|
|Husband & Wife Living Trust||Revocable Trust Account||Husband & Wife||Child 1, 2, 3||$1,500,000|
|Husband IRA||Certain Requirement account||Husband||$250,000|
|Wife IRA||Certain Requirement account||Wife||$250,000|
*Note This example is intended solely to describe account ownership categories and not to provide estate planning advice.
- If you have questions about your coverage, or would like to learn more about FDIC insurance and how it works, we encourage you to access the following resources or give us a call directly at our branch location near you.