The financial markets continue to be turbulent, making the challenges and choices we face maybe even more difficult. At M&T Bank, we understand that you're concerned about how this will affect you and your family - and so are we. We want you to know that you can count on us to help in today's ever changing world.
Times like these call for a financial services partner that has stood the test of time. More than 150 years after being founded, M&T Bank is viewed as one of the strongest banks in the nation today.
Here is a message from the President of M&T Bank.
Below is some helpful information on FDIC insurance.
FDIC general information: Learn more
What happens to my FDIC coverage now that Provident is merging with M&T and I have accounts at both banks?
M&T Bank is a member of the Federal Deposit Insurance Corporation (FDIC). When Provident and M&T merge, the deposits from Provident continue to be insured separately for at least six months after the merger. This grace period gives you the opportunity to restructure your accounts, if you desire. In addition, CDs from Provident are separately insured until the earliest maturity date after the end of the six-month grace period. CDs that mature during the six-month period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity date after the six-month period. If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only until the end of the six-month grace period.
What is the FDIC insurance limit for my accounts after the six month grace period?
Your deposits at M&T Bank are now fully insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC), and are therefore backed by the full faith and credit of the U.S. government. Please keep in mind, FDIC coverage depends on the type of accounts you have and the ownership of those accounts. You can learn more about FDIC coverage and how you may be impacted, visit http://www.fdic.gov/. Estimate your coverage by accessing the FDIC Electronic Deposit Insurance Estimator.
General FDIC insurance limit:
Your deposits at M&T Bank are fully insured by the FDIC up to the Standard Maximum Deposit Insurance Amount of $250,000, and are therefore backed by the full faith and credit of the U.S. government. Please keep in mind that FDIC insurance coverage depends on the types of accounts you have and the ownership of those accounts. You can learn more about FDIC coverage and how you are impacted by visiting the FDIC website. Estimate your coverage by accessing the FDIC Electronic Deposit Insurance Estimator.
For more information about FDIC insurance coverage of transaction accounts, visit http://www.fdic.gov.
For more information please visit an M&T Branch or call our Telephone Banking center at 1-800-724-2440.