May 5, 2010
Florida Business Bank is participating in the FDIC Transaction Account Guarantee Program. Under that program, through December 31, 2010, all non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. As of November 21, 2008, the FDIC expanded the definition of non-interest bearing transaction accounts to include NOW accounts with interest rates of 0.50% or less and IOTAs (lawyer trust accounts). As of April 13, 2010, FDIC lowered the permissible interest rate for Transaction Account Guarantee Program NOW accounts to 0.25% or less after June 30, 2010. 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.
Visit the FDIC website https://www.fdic.gov/EDIE/index.html or talk to a banking professional at Florida Business Bank to learn how to maximize FDIC coverage.
February 17, 2010
Joe Sofia, Vice President and Senior Lender at Florida Business Bank, was selected as one of the 12 finalists for LEAD Brevard’s 6th annual 4 Under 40 contest for 2010. Mr. Sofia’s nomination honors his business leadership and service to the Brevard community. Florida Business Bank is proud of Mr. Sofia, his leadership and accomplishments, and congratulates him on this prestigious recognition.
December 17, 2009
Florida Business Bank does not make it a standard practice to solicit confidential information via email. If you receive such a request, we recommend that you do not respond to the email and contact us immediately at 321-253-1555. You may ask for our bank security officer or another management representative. Thank you.
December 17, 2009
Identity Theft can affect you in many ways, but there are also many ways to keep your identity from being “hijacked,” and to assist you if you have been a victim of it:
November 25, 2009
The FDIC recently published the following information about the safety of consumer deposits at FDIC-insured banks such as Florida Business Bank. To read the article on “No Safer Place for Your Money: Why the FDIC’s Resources are Strong and Insured Deposits are ‘Absolutely Safe’ “ click on: http://www.fdic.gov/news/news/press/2009/pr09210.html
Note that any FDIC News releases can be found at: http://www.fdic.gov/news/news/press/2009/index.html
November 18, 2009
Florida Business Bank, Melbourne Florida, is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through June 30, 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 purposes of the Transaction Account Guarantee Program, the FDIC is including in the definition of a noninterest-bearing transaction account: a) Accounts commonly known as Interest on Lawyers Trust Accounts (IOLTAs) and functionally equivalent accounts; and b) Negotiable Order of Withdrawal accounts (NOW accounts) with interest rates no higher than 0.50% for which the insured depository institution at which the account is held has committed to maintain the interest rate at or below 0.50%.
October 14, 2009
Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts (including IRAs) which will remain at $250,000 per depositor. (This supersedes the October 3, 2008 changes.) Florida Business Bank is an FDIC-insured institution.
More information can be found at: http://www.fdic.gov/news/news/financial/2009/fil09022.html
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