Florida Business Bank

Transaction Account Guarantee extended through 2010

jeff — Wed, 05 May 2010 20:32:06 +0000

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.

International ACH Transactions

jeff — Fri, 23 Apr 2010 15:18:34 +0000

This link contains important information concerning International ACH Transactions (IAT’s): http://floridabusinessbank.com/wp-content/uploads/2009/09/IAT_ACH_Transactions.doc

Internet Fraud

jeff — Fri, 23 Apr 2010 15:11:23 +0000

This link contains a document that may assist with the prevention of Internet Fraud. http://info.netteller.com/go/preventingfraud/

Florida Business Bank in the News

jeff — Wed, 17 Feb 2010 13:44:46 +0000

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.

Beware email requests for confidential information

jeff — Thu, 17 Dec 2009 15:41:11 +0000

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.

Reminders About Avoiding Identity Theft

jeff — Thu, 17 Dec 2009 15:14:51 +0000

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:

Protect your Social Security number (SSN), credit card and debit card numbers, PINs (personal identification numbers), passwords and other personal information.
Protect your incoming and outgoing mail.
Shred financial trash.
Keep a close watch on your bank account statements and credit card bills.
Avoid identity theft on the Internet.
Review your credit record and report fraudulent activity.
Contact the Federal Trade Commission for additional information.

FDIC discusses safety of deposits

jeff — Wed, 25 Nov 2009 18:54:15 +0000

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

FDIC Transaction Account Guarantee Program

jeff — Wed, 18 Nov 2009 23:04:47 +0000

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%.

Higher FDIC Deposit Insurance effective through December 31, 2013.

jeff — Thu, 15 Oct 2009 00:09:52 +0000

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