Questions and Answers
on Insured Deposits
American National Bank (which includes Peoples National Bank) is one of the largest, locally-owned and operated banks headquartered in Nebraska. As one strong company we are proud to be rated consistently as a high performing bank that is well capitalized. In business since 1887, American National Bank is committed to serving our communities and building strong relationships with you, our customers.
We recognize that many individuals are concerned about recent news reports about financial market conditions. As a way to help alleviate your concerns, we've put together some commonly asked questions that we believe you might find helpful.
Are deposits safe?
Yes, American National Bank is a strong financial institution that is well-capitalized. We have served our local communities with conservative practices and traditional products. We are a member of the Federal Deposit Insurance Corporation (FDIC).
A new bill just passed temporarily raising the basic deposit insurance coverage to $250,000 from $100,000. It will be in effect until December 31, 2009. Consumers may also qualify for other FDIC insurance limits. By owning deposit accounts in different categories, such as the family "in-trust" category, other coverage applies. Individual retirement accounts which include 401(k)s, 403(b)s and Roth IRAs are insured up to $250,000 - that is in addition to your other accounts.
Your personal banker can assist you with information regarding other FDIC insurance limits. American National Bank has taken steps to provide you other options if your accounts total more than the standard FDIC limits. To calculate your insurance coverage you may go directly to www.fdic.gov/edie.
What other programs are available from American National Bank and Peoples National Bank that will protect my deposits?
The CDARS program -- This program allows customers the flexibility of maintaining their relationship with an American National Bank while placing funds with other banks that are also a part of the CDARS program and are also members of the FDIC. Thus ensuring your deposits are fully covered. Click here for additional information on the CDARS program offered through American National Bank.
Repurchase Agreements -- In this case, the customer agrees to a term and rate with American National Bank much like a CD; however the customer is provided collateral in the form of U.S. Government securities which are pledged to the customer.
Goldman Sachs Sweep Accounts -- For business accounts who have sweep investments and the underlying securities which comprise the sweep account, visit the Goldman Sachs website at www.gs.com where you will see several funds listed. American National Bank and Peoples National Bank customers are in the FSQ family of funds. Goldman Sachs actively manages their positions and will continue to remain apprised of the portfolio holdings. These investments are not covered by FDIC.
Does the FDIC insure all investments sold by an insured bank?
The FDIC does not insure the money invested in stocks, bonds, mutual funds, life insurance policies, annuities, or municipal securities, even if they were bought from an insured bank.
The FDIC also does not insure U.S. Treasury bills, bonds, or notes, but those are backed by the full faith and credit of the United States government.
Does the FDIC insure safe deposit boxes?
The FDIC does not insure safe deposit boxes or their contents.
If I have accounts at American National Bank and Peoples National Bank, are they insured separately by the FDIC?
Because American National Bank and Peoples National Bank are one financial institution, the FDIC insurance coverage is not separate. Please see your personal banker for assistance with FDIC insurance limits.
If you have further questions, please contact your Personal or Business Banker or call Customer Service at 402-457-1077 in Omaha, 712-328-2449 in Council Bluffs, or Toll Free at 1-800-279-0007.
