The standard limit on FDIC insurance is $250,000 per
depositor and $250,000 for certain retirement accounts per FDIC-insured
bank. This means that the combined total of your savings, checking and
other deposit accounts in a single bank covered by the FDIC is insured only
up to $250,000 of the total value and $250,000 for certain retirement
However, you are, in effect, insured for up to $250,000
and $250,000 for certain retirement accounts in every FDIC-insured bank
that you have deposits with. Keep in mind that deposits made in separate
branches of the same bank are not considered separately insured and are
aggregated up to the insurance limits.
The FDIC insures only deposit accounts. The following
chart shows what's covered and not covered by FDIC insurance at an
FDIC-insured bank such as First CornerStone Bank.