M&T Bank : FDIC Insurance Information
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FDIC Insurance Information

Wilmington Trust recently became part of M&T Bank Corporation, and M&T Bank acquired the retail and business deposits of Wilmington Trust Company and Wilmington Trust FSB. Beginning on May 16, 2011, until further notice, the former branch and loan production offices of Wilmington Trust Company and Wilmington Trust FSB will be operated as the Wilmington Trust division of M&T Bank.

At M&T Bank, we understand that you’re interested in how the acquisition affects the FDIC Insurance Coverage for your deposit accounts.

FDIC general information: Learn more >

What happens to my FDIC coverage now that M&T has acquired the deposit accounts of Wilmington Trust and Wilmington Trust FSB?

M&T Bank is a member of the Federal Deposit Insurance Corporation (FDIC).  As of the date of the acquisition, the “Wilmington Trust division of M&T Bank” and “M&T Bank” are the same FDIC – insured institution, however, your Wilmington Trust Company and Wilmington Trust FSB deposit accounts – along with any deposit accounts you currently may have at M&T Bank –  will be insured separately by the FDIC for a period of at least six months.

This grace period allows you the opportunity to restructure your accounts, if you desire, to maximize insurance coverage. In addition, Certificate of Deposit Accounts (CDs) from Wilmington Trust 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.

For more information, please visit www.fdic.gov. Once the separate coverage expires, all your deposit accounts at M&T Bank will be aggregated for insurance coverage.

Please note that any deposit accounts opened at the Wilmington Trust division of M&T Bank on or after the acquisition are not separately insured from the other accounts you may have at M&T Bank. All of these accounts are combined for purposes of determining FDIC insurance coverage.

What is the FDIC insurance limit for my accounts after the six-month grace period?

General FDIC insurance limit:
Your deposits at M&T Bank are fully insured up to $250,000 by the 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, by visiting http://www.fdic.gov. 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 1-800-414-9435.

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