By operation of Federal law, beginning January 1, 2013, funds deposited in a noninterest bearing transaction account (including Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance corporation (FDIC).
Beginning January 1, 2013, all of a depositor's accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.
For more information about FDIC insurance coverage of noninterest-bearing transaction accounts, visit
http://www.fdic.gov/deposit/deposits/unlimited/expiration.html