All deposits with First Savings Bank are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the U. S. Government. It was established by Congress in 1933 to insure bank deposits, help maintain sound conditions in our banking system, and protect the nation's money supply in case of financial institution failure. In 1989, the FDIC was given the additional duty of insuring deposits in savings associations. As a result, the FDIC insures deposits in banks, using the Bank Insurance Fund (BIF), and insures deposits in savings associations, using the Savings Association Insurance Fund (SAIF). Both BIF and SAIF are backed by the full faith and credit of the United States.

     All types of deposits received by a financial institution in its usual course of business are insured. For example, savings deposits, checking deposits, deposits in EaglePlus accounts, Christmas Club accounts, and time deposits (including certificates of deposit) are all insured deposits. Cashiers' checks, money orders, officers' checks, and outstanding drafts also are insured.

     The basic insured amount of a depositor is $100,000. Accrued interest is included when calculating insurance coverage. Deposits maintained in different categories of legal ownership are separately insured. Accordingly, you can have more than $100,000 insurance coverage in a single institution if your funds are owned and deposited in different ownership categories. The most common categories of ownership are single (or individual) ownership, joint ownership, and testamentary accounts. Separate insurance is also available for funds held for retirement purposes -- e.g. Individual Retirement Accounts, Keoghs, and pension or profit sharing plans.

     Should you have any questions or concerns regarding your accounts at First Savings Bank, an all-inclusive handbook prepared by the FDIC is available at any of our branch offices.