First Commerce Bank has chosen to join the FDIC Transaction Account Guarantee Program (TAGP). This program, through 31 December 2009, offering unlimited insurance cover for all funds in non-interest bearing accounts transaction.
In particular, the program offers unlimited FDIC insurance to 100% of the funds deposited in a non-interest bearing transaction accounts, both personal and business. Also covered with unlimited FDIC insurance Negotiable Order of Withdrawal or now accounts at the rate of 0.50% or less, and certain types of lawyer trust accounts known as IOLTA accounts. The TAGP insurance is next to the larger emergency measures adopted by the Economic Stabilization Act of 2008, which temporarily raises fundamental limits FDIC insurance coverage for € 250,000 through Dec. 31 in 2009, compared to the normal limit of $ 100000.
“We are excited to participate in the FDIC’s program for the benefit of our customers,” said John J. Feldman, President and CEO. “We believe in the importance of this insurance, in addition to our positioning as a” well capitalized ‘(the highest rating by regulatory agencies) bank guarantee our customers a safe and healthy financial institution. ”
First Commerce Bank is an independent community bank with its headquarters located at 16861 Ventura Boulevard, Encino, CA, a regional office in Los Angeles, California and a regional office in Glendale, California.
The Bank has been designated as a Super Premier Performing Bank in the last six years by Findley Reports, an independent service that rates the financial performance of California banks. Also Bauer Financial, a national bank rating service, Bank as a 5-star superior institution, the highest rating. The holding of the stock (First Commerce Bancorp) transactions over the counter Bulletin Board (OTCBB) under the symbol FCCC.
This release contains forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements.
Leave a Reply
You must be logged in to post a comment.