Transaction Account Guarantee Program

American Bank is participating in the FDIC’s Transaction Account Guarantee Program (TAG). Under that program, through December 31, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

For the purpose of the FDIC’s TAG Program, the term “noninterest-bearing transaction account” (which qualifies to receive unlimited coverage through December 31, 2010, at American Bank) is defined to include the following:
- Personal, Commercial, Public Fund, and Non-Profit Checking Accounts that do not earn interest.
- Commercial, Non-Profit, and Public Fund NOW Accounts.
- IOLTA and RETA Accounts.