Tompkins Financial to take part in FDIC program
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- November
- 20
Tompkins Financial Corp. of Ithaca, the parent of Mahopac National Bank, said that it will participate in a federal program that extends unlimited deposit insurance coverage for non-interest bearing checking account balances through 2009.
The program was launched recently by the Federal Deposit Insurance Corp. to boost the confidence of bank depositors in troubled economic times.
“Tompkins Financial is strong and well-capitalized, and our company has posted record earnings through third quarter,” Tompkins Financial Chief Executive Officer Stephen S. Romaine said in a written statement. “That being said, we want our customers to have as much peace-of-mind as possible in these unsettling times. Enabling our three community banks to offer maximum FDIC coverage will help us to provide our customers with an added measure of security.”
This entry was posted
on Thursday, November 20th, 2008 at 2:37 pm by Jay Loomis.
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Category: Banking
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