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FDIC-Insured Community Banks

First Keystone Community Bank is proud to recognize April as Community Bank Month. This is the second installment of a two-part series highlighting the benefits of community banks.

Part 2 –FDIC-Insured Community Banks

First Keystone Community Bank (FKCB) is an FDIC-insured community bank chartered in 1864, focused on consumers, small businesses, and diverse industries within the communities we serve. Our goal is to serve our communities for generations to come; therefore, we prioritize safety and soundness, profitability, and growth – in that order.

What does it mean when a bank is insured by the FDIC?

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government that protects bank depositors against the loss of their insured deposits in the event than an FDIC-insured bank or savings association fails. Its mission is to promote confidence and stability in the banking system. Coverage up to $250,000 is automatic for most deposit accounts opened at an FDIC-insured bank.

How do I know if my bank is FDIC-insured?

The FDIC requires all insured financial institutions to display signs indicating their status as an FDIC-insured bank. The signs should be visible at prominent locations throughout the bank. If you’re in doubt, ask a bank representative or visit the FDIC’s “BankFind” tool which provides details about all FDIC-insured institutions, including branch locations, website addresses, and the current operating status of the bank.

What is deposit insurance?

FDIC deposit insurance protects bank customers if an FDIC-insured bank fails. Deposit insurance is calculated dollar-for-dollar, principal plus interest accrued through the date of default.

What types of accounts are insured by the FDIC?

FDIC deposit insurance enables consumers to confidently place their money at any FDIC-insured banks across the country. Since the founding of the FDIC 90 years ago, no depositor has lost any FDIC-insured funds. Coverage extends to checking and savings accounts, money market accounts, and certificates of deposit (CDs). Investment products such as mutual funds, stocks and bonds, annuities, and life insurance policies, are not covered by FDIC deposit insurance.

How do I know how much deposit insurance I qualify for?

The FDIC has provided a tool that allows consumers and bankers to calculate insurance coverage on a per bank basis with the “Electronic Deposit Insurance Estimator” or EDIE, for short. EDIE helps to determine how much of your account balances are fully insured and what portion of the funds exceeds the coverage limits ($250,000). Consumers can also learn how the limits apply to specific types of deposit accounts. To access EDIE, please visit FDIC’s Electronic Deposit Insurance Estimator (EDIE) at

If you have questions about your coverage or would like to learn more about FDIC insurance, visit, or call FKCB at 570-752-3671.

Written by Elaine Woodland

Elaine is the president and CEO of First Keystone Community Bank.

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April 25, 2023

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