Is my money insured by the FDIC?

Yes, deposits at Bank of Galveston are insured by the Federal Deposit Insurance Corporation, commonly referred to as FDIC. This insurance provides a safeguard for customers by protecting their deposits in the event that the bank fails. Each depositor is insured up to the standard amount of two hundred fifty thousand dollars for each account ownership category. It means that if you have accounts in different ownership categories, you may have additional coverage. It is important to understand the limits of FDIC insurance and how it applies to different types of accounts, such as individual accounts, joint accounts, and retirement accounts. For the most up-to-date information on insurance coverage and eligibility, it is advisable to visit the official FDIC website or the current Bank of Galveston web page for more details.