NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.
The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov. |
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Our history
Marion Bank & Trust Company began as a community bank organized by local businessmen. Originally chartered March 15, 1934, we officially opened the seventeenth day of the same month. Capital stock of the bank was composed of 500 shares at a par value of $50.00. This stock was sold for $60.00 per share, providing a capital of $25,000 and a surplus of $5,000. Thirty-five original stockholders subscribed for this stock.
A new building was constructed at 601 S. Washington Street in Marion in 1973. A new branch was built at 2400 HWY 80 West in Selma in 2008.
The history of Marion Bank & Trust Company reflects its steady growth. We know our future growth depends on customers and friends who have entrusted their business to us. |
