Premier Bank of the South is participating in the FDIC's Transaction Account Guarantee Program. 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.

*Under the Final Rule a "noninterest-bearing account" is defined as a transaction account with respect to which interest is neither accrued nor paid and on which the insured depository institution does not reserve the right to require advance notice of an intended withdrawal. This definition encompasses the traditional demand deposit checking accounts that allow for an unlimited number of deposits and withdrawals at any time. The definition of a "noninterest-bearing transaction account" for the purposes of The Transaction Account Guarantee Program also includes Lawyers Trust Accounts (IOLTAs) and NOW accounts with interest rates no higher than .25%

The standard insurance amount of $250,000 per depositor is in effect through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except IRAs and other certain retirement accounts, which will remain at $250,000 per depositor.